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YRC Worldwide Inc. Message Board

  • stockexpose stockexpose Feb 26, 2013 12:09 PM Flag

    YRCW 2012 Results - Summary of FACTS the company tried to bury. Easily Verifiable Facts.

    Here are some posts on YRCW's (and in many cases comparison's to competitor's results) for 2012.
    These contain facts that are all easily verifiable from YRCW's and its competitors SEC filings.

    YRCW Negative Tangible Net Worth is $728 MILLION
    YRCW Total Loss for the Year was $270 MILLION;_ylt=Aunc5.EaN6S706Lz99TvDCXeAohG;_ylu=X3oDMTB2cmdxbHY3BHBvcwMzMARzZWMDTWVkaWFNc2dCb2FyZHNYSFJVbHQ-;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3?&bn=01e7219d-ab30-3ef1-8e29-9f3b57eb01ca&tid=1360656931106-42c4a8aa-eba7-4c05-95ac-7ffa1e1a403f&tls=la%2Cd%2C43%2C3

    Debt Remains 1.3B (up slightlly)
    Debt plus unfunded non-union pension liability on the books $1.9 BILLION
    Debt plus unfunded non-union pension liability and unfunded union pension liability (off books) $11 BILLION plus
    Competitors in much better financial shape. Several in excellent financial condition.;_ylt=AsrTAd2YYAKJARPYRRg8OK7eAohG;_ylu=X3oDMTB2ZXVvZnB2BHBvcwMzOQRzZWMDTWVkaWFNc2dCb2FyZHNYSFJVbHQ-;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3?&bn=01e7219d-ab30-3ef1-8e29-9f3b57eb01ca&tid=1360874240573-d7dbbdff-879a-4a5e-b240-281291eb16a7&tls=la%2Cd%2C46%2C3

    Capital Spending remains a joke (for years) and competitors continue to greatly outspend
    YRCW does not have the financial capacity to remedy this;_ylt=Ak462s7B4xXzb3Xs1sUY4jLeAohG;_ylu=X3oDMTB2NHZhbTNwBHBvcwMzNgRzZWMDTWVkaWFNc2dCb2FyZHNYSFJVbHQ-;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3?&bn=01e7219d-ab30-3ef1-8e29-9f3b57eb01ca&tid=1360791989115-c4fdd859-0111-43af-a47c-581e82b35a1a&tls=la%2Cd%2C45%2C3

    YRCW Market Share continues to decline.
    Competitors all increase revenue while YRCWs drops.
    ODFL revenue up 12%;_ylt=AgEvgdQOE6VcFUqpn2RJwbYLH4hG;_ylu=X3oDMTB2Y252cDRkBHBvcwMxOQRzZWMDTWVkaWFNc2dCb2FyZHNYSFJVbHQ-;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3?&bn=01e7219d-ab30-3ef1-8e29-9f3b57eb01ca&tid=1360719758643-f4d4b697-3a94-46c1-bbe0-5f51eedf0751&tls=la%2Cd%2C0%2C3

    Wall St. Consensus Analyst Estimates Show Losses for Q1, Q2, 2013yr, 2014yr
    True for those Both on Yahoo & YRCW's own website.;_ylt=Ah1DH8A0yTVjFoJlm3gzzFzeAohG;_ylu=X3oDMTB2ODU0aGYyBHBvcwM2OQRzZWMDTWVkaWFNc2dCb2FyZHNYSFJVbHQ-;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3?&bn=01e7219d-ab30-3ef1-8e29-9f3b57eb01ca&tid=1360953809191-4d1499d4-7d22-4d8b-b502-0e746a3adf26&tls=la%2Cd%2C36%2C3

    Other Sources of YRCW cash drying up
    Assets Sales of Non-Core or Surplus Assets pretty much done
    Cash from Escrow almost depleted;_ylt=Avia7veyTjYXtcdH58ytRQHeAohG;_ylu=X3oDMTB2OWFnODMyBHBvcwM3OARzZWMDTWVkaWFNc2dCb2FyZHNYSFJVbHQ-;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3?&bn=01e7219d-ab30-3ef1-8e29-9f3b57eb01ca&tid=1360879859554-62b37b0c-0a96-4e0a-89cb-8cd433b63ed0&tls=la%2Cd%2C39%2C3

    The CFO continues to have part of his pay plan in escrow as he has since fall of 2011 when he became the actual CFO (prior to that he was acting (or interim?) CFO and prior to that he was a consultant with Alvarez and Marasal who was instrumental in putting together the 2nd restructure plan and the financial projections which the managment team he was part of could not meet.
    The projections and loan covenants then had to be lowered drastically April 2012 when they could not meet them.

    The situation remains the same as I have explained for over 2 years while accurately predicting what would happen during the same period.

    Improving operations add no value to the stock because of the massive debt, the far far more massive unfunded pension liability, aging and shrinking fleet and PP&E which they do not have the financial resources to maintain (as they have admitted in SEC filings).
    On top of that improving operating results make the union less willing to do further concessions and more likely to want some or all of the 15% pay cuts and 75% pension contribution elimination reversed.

    The ABL is due 2014. The term loan is due and the union contract expires 2015.

    The stock continues to have no underlying value and no hope of that changing.
    The stock remains a financial instrument for speculators and criminals (many on this message board) to extract money from the stupid.

    Now that the 10-K is out have begun posting additional info. But this puts key posts on YRCW facts after the 2012 results PR but before the 10-K release ... in one place.

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