Re:Shares of trucker YRC crash as restructuring goes awry
Union members will announce tomorrow (11/14/13) that they are no longer willing to make any further concessions, and that they would rather strike.
They are aware of the cash in the company and will make no further concessions while management sit on such a large amount of cash.
Management is trying to bully the union members by stating that 26,000 union jobs are on the line and union members have no other choice than to give into their demands.
The union members know otherwise. They know that they are in the (pardon the pun) driver's seat. That is why they are turning down the concessions and threaten to strike. Investors will see it there way as well, as the stock price to be reduced to a penny stock if the strike is carried out.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.