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dixiechiken1

(2,113 posts)

5. $700M "loan" to a company worth $70M???

Reply to Yo_Mama_Been_Loggin (Original post)

Thu Jul 2, 2020, 11:00 PM

Jul 2020

YRC has been seriously mismanaged for years. Their financial woes are NOT strictly pandemic-related; rather, they predate COVID by a long stretch. A very long stretch. At best, this is a very expensive bandaid that will do little to stop the long-term hemorrhaging.

We own 30% of a company that most likely will no longer exist by 2024, when this loan comes due. 30% of nothing is... NOTHING.

Something stinks here, BIGLY. I hope some journalist does their due diligence and follows the money.

Free market, my ass.

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Highlight:

The Trump administration just lent $700 million to a trucking company sued for ripping off taxpayers [View all] Yo_Mama_Been_Loggin Jul 2020 OP

For that kind of dough I would put the pallet on a jack and walk the thing to rzemanfl Jul 2020 #1

Mixed thoughts from me on this. mwooldri Jul 2020 #2

I worked forty years for YFS. It was a great company. demosincebirth Jul 2020 #6

Sure hope someone checks records for Trump et alios insider trading on this one. stuffmatters Jul 2020 #3

Kickin' with disgust! Faux pas Jul 2020 #4

$700M "loan" to a company worth $70M??? dixiechiken1 Jul 2020 #5