ABX vs Astar - On Time

[hvydriver]

Your fully automated sort at CVG did no where near the weight or packages that Iln did. Plus when it was CAT II your automated sort was even faster cause it was empty.

Yeah. That happened so often in CVG. I think it was what, twice in the 17 years that I flew out of there? That seems about right. Further, the CVG sort was rated for about 3.5 million, without modifications. Plus you had the added advantage of not having to rely on Somalians or prisons to provide bodies for the sort, or resort to banning all cell phones on the hub property except for company phones, because the theft has gotten so bad at the sort that there is no other option. And we didn't seem to have as much trouble with drivers getting caught smuggling aliens, drugs, or raping and murdering people back then, either. If you guys wanna sling mud, go ahead. It is purely futile for both sides, because it solves nothing. I'm going to sit back and watch the show DHL is about to put on. You might want to check the latest 8K Joe's filed.

 

[learjockey1]

Form 8-K for ABX HOLDINGS, INC. 18-Jan-2008
Triggering Events That Accelerate or Increase a Direct Financial Obligation or

Item 2.04. Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement On January 14, 2008, ABX Air, Inc. ("ABX Air"), a wholly-owned subsidiary of ABX Holdings, Inc. ("ABX Holdings"), received from DPWN Holdings (USA), Inc. ("DHL") a demand for repayment of the Note, dated August 15, 2003, in the original principal amount of $92,948,714 originally issued by ABX Air to Airborne, Inc. (now DHL) (the "DHL Note"). The DHL Note was issued in connection with the spin-off of ABX Air from DHL. The demand was for payment in full of all amounts due and owing under the DHL Note (including principal and accrued but unpaid interest), which would total $92,932,962.
In its demand, DHL asserts that the acquisition by ABX Holdings of Cargo Holdings International, Inc. and the related financing transaction, which closed on December 31, 2007 (the "Cargo Acquisition"), constitutes a "change of control" under the terms of the DHL Note. The Cargo Acquisition and related transactions were described more fully in the Current Report on Form 8-K of ABX Holdings dated December 31, 2007, and filed with the Securities and Exchange Commission on January 7, 2008 (the "Cargo Closing 8-K"). ABX Air does not believe a "change of control" occurred in connection with the Cargo Acquisition and, accordingly, has disputed DHL's demand.
ABX Air had previously made arrangements for ABX Air or ABX Holdings to borrow from certain former significant shareholders of Cargo Holdings International, Inc. (the "Significant Shareholders") up to $61,000,000 (the "Significant Shareholder Loans") if the Cargo Acquisition resulted in DHL demanding repayment of the DHL Note. The proceeds from the Significant Shareholder Loans may only be applied to the DHL Note. A summary of the terms of the Significant Shareholders Loan and the documents underlying such loans were contained in and attached as exhibits to the Cargo Closing 8-K.
While ABX Air does not believe, and disputes, that the Cargo Acquisition constitutes a "change of control" under the terms of the DHL Note, the terms of the $345 million senior secured credit facility (the "Credit Facility") among ABX Holdings, ABX Air and CHI Acquisition Corp. with SunTrust Bank as Administrative Agent, Regions Bank as Syndication Agent and the other lenders from time to time a party thereto, which was entered into on December 31, 2007 in connection with the Cargo Acquisition, requires for ABX Air to utilize the Significant Shareholder Loans in the event ABX Air receives a demand from DHL for prepayment of the DHL Note.
More specifically, DHL's demand for payment of the DHL Note will not constitute an Event of Default under the Credit Facility, if and only if (1) the Escrow Agreement with the Significant Shareholders (the "Escrow Agreement") is in full force and effect at the time of such demand, (2) within five business days of receipt of DHL's demand, $61 million is distributed to ABX Holdings or ABX Air, and (3) 100% of such distribution is used to pay the DHL Note. ABX Air has requested the Required Lenders (as defined in the Credit Facility) to amend the Credit Facility to change the five business day requirement to 15 business days or such later date as may be reasonably agreed to by SunTrust Bank as the Administrative Agent. A summary of the terms of the Credit Facility and the documents underlying such Credit Facility were contained in and attached as exhibits to the Cargo Closing 8-K.

 

[Clyde]

It seems DHL wants their money NOW.

 

[shooter]

I had a business for several years and we shipped inbound and outbound almost daily. I used UPS, FedEx, USPS, DHL and Airborne.

When did you own this business (what years)?

 

[rotor&wing]

When did you own this business (what years)?

Late 90's through 2007.

 

[shooter]

Late 90's through 2007.

Then I owe you a big thank you.

but surprisingly enough the best service all around was USPS.

That was my gig before I came to ABX.

 

[erichartmann]

I had a business for several years and we shipped inbound and outbound almost daily. I used UPS, FedEx, USPS, DHL and Airborne. We hit a point where I had to cut Airborne off from shipping and delivering because of dismal service (this was back when Airborne had their own operation) I would have customers that were AOG and we would send a part for next AM delivery, and Airborne would put it on the wrong truck, forget to deliver, etc.

This is just a personal experience from a business owner. I had great service from UPS/Fedex and DHL, but surprisingly enough the best service all around was USPS.

Cartman you're just trying to stir crap once again.

So, Luci, splain to me how Airborne managed to keep enough customers to make money, and why Airborne's market share was greater than the combined operation is today?

I'm not saying Airborne was perfect, only that they seemed to be able to do the job better than DHL, both before and after the merger. What changed with respect to the business Airborne was doing? Why have many former Airborne customers left?

 

[rotor&wing]

So, Luci, splain to me

Actually Cartman I think you have enough on your plate to consider over the weekend.

We'll pick this discussion up later..........

 

[rotor&wing]

Then I owe you a big thank you.



That was my gig before I came to ABX.

Hey, they do a great job (USPS). Never once any problems and on time or ahead of schedule.

 

[Airbus300]

Hey, they do a great job (USPS). Never once any problems and on time or ahead of schedule.

I am not so sure I agree with USPS being so good right now. Ordered $31 worth of makeup for my wife. Never got the package or any kind of note. Looked at the tracking to see it showed it was delivered last Saturday at 10:16 a.m. No one knows where it is, and USPS supervisor says he can't do anything about it. Postal carrier does not remember package, etc.