I can't say that I follow what you are trying to do, and thus what it is failing to do, but I see that you are declaring variables within functions, but then are also trying to assign things to them outside of the function. When you declare a variable inside a function, it only has scope within that function... So in the first instance if you change the coding to the following you can probably get that second tween's finished function to execute...
yDown1.onMotionFinished = function()
var yDown2:Tween = new Tween(folioholdermc, "_y", Bounce.easeOut, -449, -297, 3, true);
yDown2.onMotionFinished = yD2Finished;
trace("fholder _y down2: " + folioholdermc._y);
var yDown3:Tween = new Tween(folioholdermc, "_y", Bounce.easeOut, -297, -148, 3, true);
Thank you Ned,
You are a life saver...I can't believe I missed that..a basic scope issue of all things......thanks again..