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Tuesday, July 26, 2011

BIll Zollars - The worst Ceo in the history of LTL transportation has departed

Bill Zollars
Bill Zollars, the worst CEO in the history of LTL transportation has finally left the building but what he has left behind still lingers as an ongoing concern.  Despite the town-hall meeting celebration that took place on Friday, YRCW really has nothing to celebrate.  They are not out of the woods yet.  Someday they will have to show a profit.  Rumours for the past month internally and externally was that YRCW made a profit, but they didn't. They lost 38.7 million dollars.  Sure they lost less money than they did in the first quarter, but they still haven't posted a profit in four years.  It's ridiculous that this company spins its ills as thrills of greatness.    

Since Bill has been in command of YRCW, they have lost over FIFTY THOUSAND EMPLOYEES and over 4.5 billion dollars.  Sure the economy was tough, but it was tough on all carriers.  Excuses and more excuses is all that we ever heard from Bill Zollars.  There was nothing stellar about Zollars. He created the biggest loss in ltl trucking history.  Let history speak correctly about Bill Zollars. He was a colossal failure, who should have been removed years ago.  As he departs, he leaves the company with several pending lawsuits that could shut down the company.  The shareholder lawsuit for hundreds of millions is in progress and the ABF lawsuit for 750.000,000 million dollars is still pending.  At the end of the Day, Bill has nothing to hang his hat on.   YRCW and the Union couldn't Get rid Of Bill due to his positional alignment within the company.  Bill labeled himself CEO, Chairman of the Board and President.  He out numbered any decision that could have been made against him.  Plus the company couldn't afford to push him out of the door due to his contract.  They would have had to pay millions to get rid of him and YRCW couldn't afford to do that.




James Welch
 The Bottom Line - Zollars was forced out and agreed to leave after the completion of the restructuring agreement.  They couldn't get rid of him sooner, or they would of had to pay him a rumoured 35 million.  Now, James Welch the old president of yellow takes over the beleaguered trucking company.  With economist predicting a rough 3rd and 4th quarter, things won't be easy for Mr. Welch and YRCW.  At least the company and its employees won't have to listen to the Lies and Deceptions Of Bill Zollars any more.  Bill Zollars should have been picked up by the seat of his trousers and hurled out of the corporate office years ago. When Bill took over the stock price was 66.00 dollars a share.  He leaves the company with it's stock price sitting at 1.03 cents.  Good Riddance!


LTL TRAFFIC.COM
Staff Writer T wade

9 comments:

  1. Amen to that! Finally an honest article about that bum!

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  2. LTL TRAFFIC SAID, Good luck to you Stew this was long over due.

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  3. Maybe now is a good time to finally buy in?

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  4. I think it's good to wait to see if they do a R/S if they do many shares will get wiped out.

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  5. Way, way, way overdue! Glad to see "Dollar Bill" finally kicked to the curb and an honest article about him.

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  6. Welcome back Mister Welch, goodbye lowlife billy-boy zollars, I feel like i did when Busch took over office for Clinton proud again.... hope fully I can say proudly again I work for Yellow Frieght, oh hell they took that from us too!! ok Mr. Welch make me proud to be a Y.R.C employee

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  7. Did one of the NASCAR Busch's take over the office from Clinton? Democrats FTW!!!

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  8. His nickname at our barn was "Dollar Bill". Little did we know that would be the stock value when he departed! It is amazing that we couldn't afford to buy out his contract for $35 million while we lost $4.5 billion. How could have afforded not to?

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