Senin, 27 Desember 2010

10-hour driving limit for truckers proposed

The Obama administration is considering the establishment of a 10-hour driving limit for long-haul truckers.The Federal Motor Carrier Administration said Thursday it favors reducing the current 11-hour limit by an hour. But the agency is accepting comments on whether to change the rule, signaling it may not be completely behind the idea.The Obama administration has been considering whether to

Rabu, 22 Desember 2010

Tom Gerke to Join YRC Worldwide as Executive Vice President, General Counsel and Secretary

YRC Worldwide Inc. has announced that Tom Gerke is joining the company as executive vice president and general counsel effective Jan. 3. He also will serve as secretary to the YRC Worldwide board of directors."Tom is uniquely positioned to lead our legal organization as we work on our comprehensive recovery plan," says Bill Zollars, chairman, president and CEO-YRC Worldwide. "We are really


General Secretary-Treasurer Tom Keegel and I extend our best wishes for a happy holiday season to our Teamster brothers and sisters and all their families. You deserve it after working so hard in 2010 to keep our union strong and united during these tough economic times. We are confident that the New Year has great things in store for all of us.As we close out 2010, we look back with pride on

YRC Worldwide Continues Progress on Comprehensive Plan

Expected Fourth Quarter 2010 Adjusted EBITDA In Excess of Covenant LevelCredit Agreement and ABS Lenders Extend Interest and Fee Deferral to May 2011Key Stakeholders in Discussions to Complete Comprehensive Plan by Mid-2011YRC Worldwide Inc. today announced amendments to its credit agreement and asset-backed securitization facility ('ABS'). Both amendments are intended to provide additional time

YRC granted extensions on two lending arrangements

YRC Worldwide Inc. said Tuesday it received extensions on two lending agreements, allowing it to continue working on its restructuring plan through mid-2011.The Overland Park-based trucking company said it received amendments on its credit agreement and asset-backed securitization program, extending deferrals on interest and fees though next May. The extension requires that YRC reach an agreement

Jumat, 17 Desember 2010

Teamsters Applaud Dismissal of ABF Suit

Union's Freight Director: 'Best Possible Outcome for Teamsters'The Teamsters hailed a U.S. District Court ruling on Thursday that ABF Freight System does not have standing to sue YRCW Worldwide Inc. and the union in court.Judge Susan Webber Wright dismissed the case brought by Fort Smith, Ark.-based ABF."We have said all along that ABF took itself out of the National Master Freight Agreement and

Judge dismisses competitor's lawsuit against YRC, Teamsters

A federal judge dismissed a lawsuit brought by a trucking company that challeged the concessionary contract reached between YRC Worldwide Inc. and the Teamsters union.U.S. District Judge Susan Webber ruled in a Little Rock federal court that YRC and ABF Freight System Inc. operated under separate bargaining agreements.The judgment is another positive devlopment for Overland Park-based YRC, which

Rabu, 15 Desember 2010

ABF Hearing Set For Thursday

A federal judge on Thursday will decide whether Fort Smith-based ABF Freight System has standing to sue competing truckers and the Teamsters in U.S. District Court.ABF on Nov. 1 filed a federal lawsuit alleging that subsidiaries of YRC Inc. and the International Brotherhood of Teamsters violated terms of a multi-employer labor contract by entering into side deals that the gave the YRC companies

Selasa, 14 Desember 2010

YRC Celebrates 25 Years of Providing Trade Show and Exhibit Services

Shipments have changed over the years; expectations remain the sameYRC still provides industry's only inbound guarantee on all tradeshow shipmentsThis year YRC celebrates its 25th anniversary of providing trade show and exhibit services. During those 25 years, the company estimates it has delivered about 5 million exhibit shipments, weighing a collective 2.1 trillion pounds, to approximately

YRC’s consolidation plans could bring jobs to KC

YRC Worldwide Inc. wants to further reduce its delivery network, but consolidation elsewhere could add jobs in Kansas City.Last month YRC submitted a change-of-operations proposal to the Teamsters union, seeking to close 31 small and medium-sized terminals around the country. In what the company characterizes as an effort to improve efficiencies and better serve customers, the proposal could

Senin, 06 Desember 2010

ABF Road Driver John Boyd Awarded ABF Medal of Excellence for Life-Saving Actions

ABF Freight System, Inc., recognized the life-saving actions of John Boyd by awarding him the ABF Medal of Excellence. An ABF road driver in Dayton, Ohio, Boyd became the sixth recipient of the award, which is the highest honor the company can present to an employee. Mr. Boyd was presented the award during a ceremony at the ABF General Office on December 2, 2010."John Boyd is a hero and a role

Rabu, 01 Desember 2010

National Share the Road Safety Program Heads to Indiana to Teach Young Drivers Safe Driving Techniques

Top professional truck drivers presented life-saving highway driving tips to young drivers today as part of the American Trucking Associations' national Share the Road highway safety tour.An estimated 12.6 million new drivers will receive licenses this year nationally, indicating the necessity of sharing the road safely. Professional truck drivers with millions of accident-free driving miles

Union Member Earns Highest Scouting Honor

James Rogers is the recipient of the annual George Meany Scouting Award given by the Boy Scouts of America Council. The award is the highest honor presented to a union member who is active in Boy Scouting. Rogers is a member of Teamsters Local 401 and is employed by YRC Trucking. He has been an active volunteer with the Boy Scouts program for 19 years and serves as the assistant scoutmaster of

Rabu, 24 November 2010

Teamsters call for dismissal of ABF lawsuit about YRC concessions

The International Brotherhood of Teamsters is joining YRC Worldwide Inc. in calling for a federal judge in Arkansas to dismiss a lawsuit challenging three rounds of wage and benefit concessions approved by union members who work for YRC.In a court filing Tuesday, the Teamsters echoed many of the arguments that YRC raised in its filings against ABF Freight System Inc.’s lawsuit earlier this

Senin, 22 November 2010

Professional Drivers Offer Highway Safety Tips for Thanksgiving Travel

America's Road Team Captains Provide Life Saving AdviceThis Thanksgiving, an estimated 42.2 million motorists are expected to take to the road. Additional motorists and winter road conditions can lead to dangerous situations, so a team of million mile accident-free drivers are helping to make our roads safer. America's Road Team Captains, elite professional truck drivers, are offering advice on

Sabtu, 20 November 2010

YRC terminal in Peru, IL targeted for closing

A less than four-year-old trucking terminal north of Interstate 80 in Peru, operated by YRC (formerly known as Yellow Freight) will close this winter.Facility employees including Teamsters at the terminal at 22 Unytite Drive learned Monday about the closing, with YRC citing economic hardships. A public relations firm hired by YRC was not immediately forthcoming with detailed information on

Kamis, 18 November 2010


Last Wednesday, November 10, the Teamsters National Freight Industry Negotiating Committee (TNFINC) was advised by YRC that it was mailing a “change of operations” to Local Unions this week. This multi-region “change of operations” would affect several hundred members throughout the United States and potentially close 31 small- and medium-sized terminals in three of the four Teamster regional

Rabu, 17 November 2010

YRC Worldwide will close 40 terminals because of low freight volume

YRC Worldwide Inc. plans to close about 40 terminals across the country as it continues shrinking its operations to handle a smaller amount of customer freight.Sheila Taylor, CFO of the Overland Park-based company, told analysts during an analyst conference on Wednesday that the company has submitted a “change of operations” with the International Brotherhood of Teamsters union about the closures

Kamis, 11 November 2010

Teamsters Honor Veterans

A LETTER FROM GENERAL PRESIDENT JAMES P. HOFFADear Active-Duty and Veteran Teamsters:I want to thank you for your dedication and service to our country. On this Veterans Day, the Teamsters Union pays tribute to the fine work you are doing whether it’s active duty in Afghanistan, Iraq, or if you have served in previous conflicts. The duty you are performing to protect those in need and your

Jumat, 05 November 2010

YRC Worldwide CEO Indicates Co. May Counter Sue ABF Freight

YRC Worldwide Inc. Chief Executive Bill Zollars called a legal challenge to the struggling trucking company's critical new labor concessions meritless on Friday, saying YRC likely will counter sue in the case.ABF Freight System Inc., the largest subsidiary of YRC Worldwide rival Arkansas Best Corp., filed a lawsuit this week against YRC and the International Brotherhood of Teamsters. ABF contends

YRC Worldwide Reports Third Quarter Results

YRC National Tonnage up 1.2% and YRC Regional up 2.1% from Second Quarter 2010Achieved Significant Progress on Comprehensive Recovery PlanYRC Worldwide Inc. today reported its third quarter 2010 results. For the third quarter ending September 30, 2010, the company announced a net loss of $62 million and a $1.33 loss per share on average outstanding diluted shares of 46.5 million. As a comparison,

ABF Drivers Boyer, McCarty, McElwaney and Miller Named America's Road Team Finalists

Four ABF Freight System, Inc., drivers are among the 33 professional truck drivers named as finalists to become Captains on the 2011-2012 America's Road Team, selected by the American Trucking Associations. Named finalists were ABF drivers David Boyer of Wytheville, Virginia, Nate McCarty of Denver, Tim McElwaney of Atlanta, and Chad Miller of Chicago. McElwaney is a city driver; the other ABF

Kamis, 04 November 2010

New rules for truck drivers returning after stroke

Commercial truck and bus drivers who suffer a stroke should wait at least a year and be able to pass a driving test and a series of health assessments before getting in front of a wheel again, according to a U.S. expert panel.The panel, appointed by the Department of Transportation, also recommends annual check-ups on health and driving records as a requirement for continued driving.According to

FedEx among big winners in midterm elections

One of the biggest corporate winners after Tuesday night's watershed Republican House victories will be Memphis-based FedEx Corp., which can abandon fears that pending legislation will upset its existing labor relations."I think they dodged a bullet," said David Schaffer, a Vienna, Va.-based aviation consultant and former counsel to the House aviation subcommittee.Schaffer said it's still

Senin, 01 November 2010


On Monday, November 1 the Teamsters Union received copies of a grievance and a lawsuit filed by ABF Freight Systems, Inc. (ABF) in federal court in Arkansas against the Teamsters and other parties, alleging that the agreements the union entered into and that its members ratified with YRC Worldwide, Inc. violate the National Master Freight Agreement (NMFA).“After initial review of the ABF lawsuit

ABF Freight System, Inc. Files Legal Actions Against Teamsters, YRC Companies


Minggu, 31 Oktober 2010

Teamsters accept more concessions at YRC Worldwide

Once again, YRC Worldwide Inc.’s drivers and dockworkers have accepted concessions aimed at keeping the struggling trucking company viable into 2011.With results of a much awaited vote released Saturday, the Teamsters said union members at YRC’s operating units approved the extended agreement by healthy margins.At national carrier YRC Inc. and regional unit USF Holland, 62 percent voted to ratify

Sabtu, 30 Oktober 2010

Teamster Freight Members Ratify YRCW Restructuring Plan

Agreement Is Aimed At Saving More Than 25,000 JobsTeamster members who work at YRC Worldwide Inc.'s operating companies YRC, Holland and New Penn have ratified the "Restructuring Plan" that is aimed at saving more than 25,000 union jobs. YRC and Holland members ratified the agreement by a 62 percent to 38 percent margin, while members at New Penn ratified the agreement by a 69 to 31 percent

Selasa, 26 Oktober 2010

Truck tonnages shift to gains in September

The trucking industry shifted back into drive in September, trying to distance itself from a disastrous August that generated the largest month-to-month tonnage drop in more than a year.Trade group American Trucking Associations said Tuesday that its advance index of for-hire truck tonnage gained 1.7 percent last month, compared with a revised 2.8 percent drop in August. The index is adjusted for

YRC Worldwide lenders extend deadline ahead of union vote result

YRC Worldwide Inc. will have some breathing room with its lenders, even if the tentative concessions agreement with its union fails to pass later this week.In a securities filing Tuesday, the Overland Park-based trucking company said the recent renewal of a key piece of financing won’t expire immediately if the International Brotherhood of Teamsters votes down a third round of wage and benefit

Jumat, 22 Oktober 2010

YRC Worldwide Renews Asset-Backed Securitization Facility

YRC Worldwide Inc. today announced an amendment to renew its asset-backed securitization facility."We appreciate the continued support of our ABS lenders as demonstrated by the early renewal of this important 364-day accounts receivable borrowing facility," said Sheila Taylor, Executive Vice President and CFO of YRC Worldwide.The amended ABS has a facility commitment of $325 million as compared

Rabu, 20 Oktober 2010

New Penn faces forced closure

If Teamsters nix restructuring, the South Lebanon trucking company may close.New Penn Motor Express's parent company is threatening to close the South Lebanon Township trucking company if Teamsters don't approve a restructuring agreement next week."I am hopeful that this proposed Change of Operations ultimately will not be necessary," Jack Peak, YRC Worldwide's senior vice president of labor

Selasa, 19 Oktober 2010

YRC hauls a full load of uncertainty

For the third time in less than two years, YRC Worldwide Inc. drivers and dock workers are about to decide the fate of the long-troubled trucking company.Although workers have begrudgingly accepted cuts two previous times to keep YRC afloat, doubts linger about whether concessions will be accepted a third time, despite indications that they’re needed for YRC to survive.The U.S. economy is not at

Senin, 18 Oktober 2010

YRC Worldwide Provides Third Quarter Update

Positive third quarter 2010 adjusted EBITDA in excess of second quarter 2010YRC Worldwide Inc. today provided an update on its expected third quarter results including: For the third quarter of 2010, tonnage per day for YRC National and YRC Regional was 1.2% and 2.1%, respectively, higher than the tonnage per day for the second quarter of 2010. Revenue per shipment during the third quarter of

Rabu, 06 Oktober 2010


The Teamsters Freight Division hosted a teleconference the evening of Tuesday, October 5. The call provided the members an opportunity to learn more details about the proposal and to clear up some misconceptions. Below is the agenda for the hour and fifteen minute long meeting. Please click the link below to hear the audio file.Intro & Opening – Freight Division Director Tyson JohnsonRemarks –

Sabtu, 02 Oktober 2010

ATA safety panel honors ABF, Dupre, TCW/Tennessee Express

ABF Freight System, Dupré Logistics and TCW/Tennessee Express have been awarded the American Trucking Association’s President’s Trophy for the best overall safety program.ATA’s Safety Management Council awarded the honors at its Safety and Human Resources National Conference and Exhibition at Rogers, Ark., this week.The ATA President’s Trophy annual recognizes the three companies whose fleets

YRC Worldwide triggers reverse-stock split; share price jumps

YRC Worldwide Inc. shares surged, then plummeted Friday after the company executed a reverse-stock split.Shares for the Overland Park-based company converted from 25 cents a share at the end of trading Thursday to $6.25, reflecting the 1-for-25 share split.By the end of Friday, however, the share price had fallen 86 cents, or almost 14 percent, to $5.39.YRC is pursuing a new game plan — including

Kamis, 30 September 2010

ABF Becomes Only Six-Time Winner of the ATA President's Trophy for Safety

ABF Freight System, Inc. has become the only six-time winner of the transportation industry's most prestigious safety award, the American Trucking Associations President's Trophy. The award was presented during the ATA Safety Management Council's Safety and Human Resources National Conference and Exhibition in Rogers, Ark., September 29, 2010."The ATA President's Trophy is the highest safety

YRC Worldwide Board of Directors Approves Tentative Labor Agreement and Reverse Stock Split

Agreement designed to improve YRCW long-term market competitiveness and provide for re-entry into multi-employer pension fundsRatification targeted for completion by late October 2010YRC Worldwide Inc today announced that its board of directors has approved a tentative agreement with the International Brotherhood of Teamsters, and the Teamsters approved submitting the tentative agreement to the

Selasa, 28 September 2010

Zollars to Retire from YRC Worldwide Following Completion of Comprehensive Recovery Plan

YRC Worldwide Inc. announced today that William D. Zollars, chairman, president and chief executive officer, has informed the company's board of directors of his decision to retire from the company upon the successful completion of YRC Worldwide's comprehensive recovery plan. Zollars and the board have agreed that he will retain his current positions through the finalization of the process and


One Nation Working Together Rally in Washington on 10-2-10Teamsters General President Jim Hoffa today urged Teamsters to attend the Oct. 2 march in Washington for jobs, justice and education. Download video.“On October 2, people who love America and want good jobs will come to Washington to make their voices heard,” Hoffa said. “It’s important that the Teamsters make their presence known at this

Growing Support for Change in Board Leadership at FedEx

Teamster Shareholder Proposal for Independent Board Chair Receives High VoteAt FedEx Corporation's annual meeting today the Teamsters' shareholder proposal to appoint an independent board chairman received 35 percent support according to results announced at the meeting. This marks a big leap in investor support for the proposed reform which received 27 percent support in 2009.Excluding shares

Sabtu, 25 September 2010


The Teamsters National Freight Industry Negotiating Committee (TNFINC) announced today that it reached a tentative agreement with YRCW that sets the foundation for a comprehensive financial restructuring and a viable, sustainable company.Details of the tentative agreement will be made available to the membership after being reviewed with local union and pension fund leaders next Wednesday,

YRC Worldwide Announces Tentative Agreement with Teamsters

YRC Worldwide Inc. announced today that it has entered into a tentative agreement with the International Brotherhood of Teamsters to address the company's competitiveness, re-entry into multi-employer pension funds and progress toward long-term growth. Details of the agreement will be made available subject to the required approval by union leadership committees and the company's Board of

Kamis, 23 September 2010

Teamsters plan update about YRC Worldwide negotiations

The International Brotherhood of Teamsters has scheduled a Sept. 29 meeting to update its local unions and pension fund representatives about ongoing negotiations with YRC Worldwide Inc.In a notice on the Teamsters’ website, the union also has asked its locals to schedule membership meetings on Oct. 2-3 and/or Oct. 9-10.The union provided no other details about the talks, saying only that its

Kamis, 16 September 2010

Arkansas Best gains require union wage cuts, pension reform

The good news is that the most recent analyst report says Fort Smith-based Arkansas Best Corp. may have hit bottom and could see positive earnings in fiscal 2011. But even with that, the economic future of Arkansas Best depends largely on the company’s success in gaining wage and pension relief from Teamsters and Congress, respectively.Arkansas Best is the parent company of ABF Freight System, a

ABF Earns Fifth Consecutive Listing on InformationWeek 500

ABF Freight System, Inc., has been cited as an innovator in information technology by InformationWeek magazine, which lists ABF on the 2010 InformationWeek 500. The InformationWeek 500 companies were revealed on September 14, 2010, at a gala awards ceremony during the InformationWeek 500 Conference at the St. Regis Resort in Monarch Beach, Calif.ABF earned a spot on the 2010 listing for its

Selasa, 14 September 2010

Working Toward Comprehensive YRCW Restructuring That Protects Teamsters

The Teamsters Union is reviewing cost savings presented by YRCW to make sure they are necessary to address business needs. Those cost savings will only be submitted for ratification if certain conditions are met that help protect the interests of Teamsters and if the effort supports a comprehensive restructuring that will give the company the best opportunity to survive over the long term.Read

Senin, 13 September 2010

ABF Celebrates Teamwork During National Truck Driver Appreciation Week

ABF Freight System, Inc., is celebrating the 15th Annual National Truck Driver Appreciation Week, September 19-25, 2010, with a system-wide campaign focusing on teamwork. The campaign underscores the fundamental role of transportation industry employees in supporting the North American economy."This campaign celebrates the hard work and dedication of all ABF employees to uphold the highest

Sabtu, 11 September 2010

Teamsters See Need For 'Comprehensive Restructuring' At YRC Worldwide

The Teamsters union said late Friday that it will only support new employee concessions at YRC Worldwide Inc. if the effort "supports a comprehensive restructuring" at the struggling trucking company."Our goal is to facilitate that restructuring and protect as many Teamster jobs as possible," the International Brotherhood of Teamsters said in a statement to its members.The union said it will

Rabu, 08 September 2010

YRC Worldwide To Appeal Delisting From Nasdaq Stock Market

YRC Worldwide Inc. has a month to prepare after an appeal after being told it faces delisting from the Nasdaq Stock Market, the company said Tuesday.The U.S. trucking group faces an appeal hearing on Oct. 7 and continues to evaluate the timing and size of a reverse stock split to push its share price above $1, in accordance with exchange rules.The company's liquidity problems have seen its shares

Minggu, 05 September 2010

YRC announces its plan to avoid stock's delisting

Trucking company YRC Worldwide says that it plans to request a hearing with NASDAQ exchange executives if it gets, as it expects, a notice saying its stock will be delisted.The NASDAQ earlier this year warned the Overland Park, Kan.-based company that its stock was in danger of being delisted because its share price had fallen too low — less than $1 per share for 30 consecutive business days.YRC

Jumat, 03 September 2010


A Message from Teamsters General President Jim HoffaThe first national Labor Day was celebrated six days after workers were killed in the Pullman strike of 1894. This Labor Day, we must remember those who were senselessly killed at Hartford Distributors in Connecticut.On the morning of Aug. 3, 2010, eight innocent people were gunned down in the warehouse of a beer distributorship. Seven of those

Conway sues FedEx over how it classifies drivers

Kentucky Attorney General Jack Conway filed suit Thursday against Federal Express contending that the delivery company misclassifies drivers to avoid paying taxes.The suit, filed in Franklin Circuit Court claims the company wrongly considers its drivers independent contractors and not employees. Conway contends that the misclassification has denied FedEx drivers workers’ compensation insurance,

Selasa, 31 Agustus 2010

Jason Leffler Quick Facts - Atlanta Motor Speedway

Jason Leffler Hoping for More Good Fortune in the No. 10… For the seventh time this season, Leffler is jumping into the driver’s seat of Braun Racing’s No. 10 Camry. In his previous six starts with the No. 10 team, Leffler has five top-10 and three top-five finishes, including a second-place finish in his last appearance in the car at Bristol Motor Speedway.ABF Freight on the Hood … Long-time

Rabu, 25 Agustus 2010

YRC Worldwide May Request More Time To Enact Reverse Split

YRC Worldwide Inc. is holding out the possibility that it may seek an extension to an Aug. 30 deadline to enact a reverse stock split and boost its share price above $1 or face Nasdaq delisting.Executives of the struggling trucking company, which last traded above $1 a share on Jan. 15, said through a spokeswoman Wednesday that they remain intent on avoiding delisting by enacting a reverse

Senin, 16 Agustus 2010

YRC Worldwide Establishes Strategic Relationship with Austin Ventures through the Sale of YRC Logistics

-- Completes Initial Closing with Proceeds of $33.6 Million-- YRCW Customers Will Continue to Receive Complementary Logistic Services through Austin VenturesYRC Worldwide Inc. today announced that it completed the initial closing on the previously announced sale of a portion of YRC Logistics. The gross proceeds for the transaction were approximately $38.7 million of which YRC Worldwide received

Jumat, 13 Agustus 2010

YRC Worldwide Drivers Capture Top Awards at the 2010 National Truck Driving Championships

YRC Worldwide is proud to announce that five of its professional drivers captured top awards at this year's National Truck Driving Championships, Aug. 3–7 in Columbus, Ohio. YRC Worldwide sent a team of outstanding professional drivers from subsidiaries Holland, New Penn, Reddaway and YRC to the annual competition."We are extremely proud of all of our professional drivers, who competed this past

Selasa, 03 Agustus 2010

YRC Worldwide stays mum about two looming issues

YRC Worldwide Inc. still isn’t ready to announce decisions about two of the biggest issues facing the trucking company — a new pension agreement with its union employees and a reverse stock split.During a conference call to discuss second-quarter results Tuesday, YRC executives said that both issues were being discussed but that the company wasn’t ready to provide an update. Full Story.....

TTS LLC, selects Holland as 2009 LTL Carrier of the Year

TTS LLC, one of the fastest-growing third-party transportation and logistics providers in the industry, has named Holland, a subsidiary of YRC Worldwide Inc., 2009 LTL Carrier of the Year.In a recent ceremony, TTS presented its annual Carrier of the Year Awards to recipients in four distinct transportation categories including Rail, OTR, Drayman, and LTL.To determine rankings, TTS rated its

Teamsters Say FedEx Filibuster of FAA Reauthorization Bill Must End

Final Bill Must Include Important Provision to Stop Special Deal for FedExFedEx must stop blocking passage of the Federal Aviation Administration Reauthorization Bill so that key airline safety provisions and an important measure that would close the loophole that gives FedEx Express a special status are enacted, Teamsters General President Jim Hoffa said today."The Teamsters firmly believe that

Trucking index shows possible economic recovery slowdown

May and June reports from the American Trucking Associations’ provide some unfortunate evidence that a national economic recovery is slowing.The for-hire truck tonnage index in June dipped 1.4%, and the May index decline was revised up from 0.6% to just 0.1%. However, the ATA said May and June marked the first back-to-back contractions since March and April 2009. The latest reduction lowered the

U.S. trucker YRC posts smaller loss but shares fall

Troubled U.S. trucker YRC Worldwide Inc reported a narrower second-quarter loss on Tuesday and said "significant operating momentum" would drive improvements through the rest of the year.Shares dropped nearly 15 percent, however, as the carrier, which narrowly averted bankruptcy last December, said it still faced many challenges.Last December, YRC, the largest U.S. trucking company handling

Senin, 19 Juli 2010


ABF Freight System, Inc., is sending 16 championship drivers from 10 states to the 73rd National Truck Driving Championships, August 3-8, 2010, in Columbus, Ohio. By winning state truck driving championships and by maintaining an accident-free driving record for the previous 12 months, professional drivers earn the right to compete in the National Championships.Among the competitors representing

Minggu, 18 Juli 2010

YRC Worldwide Sends 42 Drivers to the National Truck Driving Championships

YRC Worldwide Inc. announced today that 42 of its professional drivers will compete at the 2010 National Truck Driving Championships (NTDC) to be held August 3-7 at the Greater Columbus Convention Center in Columbus, Ohio.To qualify for the national championships, each driver placed first in his respective class at state competition. The drivers will compete against nearly 400 others for national

YRC Worldwide sees improvement in second quarter

YRC Worldwide Inc. has provided an update on its expected second quarter results. The company expects second quarter adjusted EBITDA within a range of $35 million to $45 million, excluding the YRC Logistics segment which will be reported as discontinued operations. When including the expected adjusted EBITDA loss from discontinued operations of $9 million to $11 million, the company expects

Rabu, 07 Juli 2010

Transportation jobs rebound

Transportation job postings have jumped 73% from a year ago, the biggest performer of 12 industries tracked by online job search engine said 20,000 new transportation jobs have been posted since April alone. The most sought after transportation positions are for driver, receiver/stocker and delivery driver, based on clicks by job seekers, said.Hospitality saw job

Trucking industry concerned about new safety rules

A proposed federal rule change intended to cull unsafe truck drivers from trucking companies has mixed support from the trucking industry and the two publicly held trucking companies based in the Fort Smith area.The Federal Motor Carrier Safety Administration (FMCSA) — a division of the U.S. Department of Transportation — began in April to phase in the Comprehensive Safety Analysis 2010 (CSA 2010

Selasa, 06 Juli 2010

YRC must repay $21.6M

A federal court has dealt YRC Worldwide Inc. a setback in its attempt to avoid making more than $21 million in debt payments next month.In April, the Overland Park, Kan.-based trucking company asked for summary judgment against Deutsche Bank Trust Co.Deutsche Bank is acting as trustee for bondholders that did not participate in last year’s debt-for-equity exchange, announced Dec. 31, which

Teamsters vow to push YRC to resume pension contributions

As it tries to restructure and avoid bankruptcy, YRC Worldwide Inc. has avoided making pension contributions for more than a year now.That will change come January, union officials assured its YRC work force last week.Jim Hoffa, Teamsters general president, and Tyson Johnson, the union’s national freight director, made that pledge in a conference call with the trucking company’s union members.“We

Kamis, 01 Juli 2010


A national conference call providing an update to YRCW Teamsters took place on Tuesday, June 29, 2010, and the audio of the call is available. The call updated members about the two joint labor-management committees that have begun to address the YRCW companies re-entry into Teamster pension funds in January 2011 and ways to enhance the companies’ competitiveness in the freight industry. Listen

Selasa, 29 Juni 2010

U-Pack Introduces Discount Moving Rates for Select Locations

National moving service ABF U-Pack Moving introduces significant summer moving discounts for consumers moving from select areas across the United States. ABF U-Pack Moving introduces special summer discount moving prices for customers moving from select U.S. cities, regardless of the customer’s final destination. U-Pack is offering cheap moving options and moving discounts to help customers

Jumat, 25 Juni 2010


Meetings have begun of the two joint labor-management committees set up to address the YRC Worldwide Inc. companies’ re-entry into Teamster pension funds in January 2011 and ways to enhance the companies’ competitiveness in the freight industry.The committees held kickoff meetings on June 8 and 9, where they established ground rules for the talks. More meetings were scheduled June 22 and 23.YRCW


Approximately 850 former Teamster employees of Consolidated Freightways (CF) have un-cashed or undeliverable payments due to them stemming from the 2002 CF bankruptcy, and time is running out for them to collect their money.The vast majority of the 14,000 affected Teamster CF employees have received money from the 2002 bankruptcy, but the union has been unable to locate approximately 850 former

YRC Worldwide Announces Definitive Agreement for Austin Ventures to Acquire YRC Logistics

YRC Worldwide continues to benefit from global logistics services through partnership with new companyYRC Worldwide Inc. today announced it has entered into a definitive agreement to sell a portion of its YRC Logistics business to Austin Ventures, a strategic private equity investor. This logistics business will operate as a private company owned by Austin Ventures. The sale will form the basis

Selasa, 22 Juni 2010

2010 North Carolina Truck Driving Champion

David Turnipseed, of Kernersville, was named the best professional truck driver in North Carolina after winning the three axle competition and receiving the highest overall score in the nine competing categories at the 2010 North Carolina Truck Driving Championships. The annual event is sponsored by the North Carolina Trucking Association.Turnipseed, who drives for Con-way Freight, now qualifies

2010 Mississippi Truck Driving Champion Announced

John Smith, Jr. was named the best professional truck driver in Mississippi after winning the flatbed competition and receiving the highest overall score in the nine competing categories at the 2010 Mississippi Truck Driving Championships. The annual event is sponsored by the Mississippi Trucking Association.Smith, who drives for FedEx Ground, now qualifies to compete in the American Trucking

Idaho Driving Champion Crowned

Eight Drivers Continue on to National CompetitionPaul Unser was named the best professional truck driver in Idaho after winning the Straight Truck competition and receiving the highest overall score in the eight competing categories at the 2010 Idaho Truck Driving Championships. The annual event is sponsored by Idaho Trucking Association.Unser, who drives for YRC, now qualifies to compete in the

W.Va. truck drivers honored for skill, safety

Larry Gorby of Lake, Logan County, was named grand champion of the West Virginia Trucking Association's Truck Driving Championship.Gorby is a professional driver for Con-way Freight in Belle. He took the top honor after competing in a variety of skill and safety tests.Nearly 50 professional truck drivers representing more than a dozen West Virginia-based motor freight companies participated in

Selasa, 15 Juni 2010

YRC freight improves, cash burn continues

YRC Worldwide Inc. said that June freight volume is surpassing that of last month and that the company still should report an adjusted profit in the second quarter.But the Overland Park, Kan.-based trucking and logistics company also said Monday that its day-to-day operations were continuing to burn through cash and that it was taking steps to boost liquidity. Full Story.....

Senin, 14 Juni 2010

Aikman named ABF chief of marketing

ABF Freight System, Inc. named Russ Aikman as director of marketing and public relations, the company announced today in a release.Aikman replaces Danny Loe, who recently became ABF's vice president of yield management.Aikman, an 11-year veteran of ABF, will be responsible for market strategy, new product development, Internet and intranet initiatives, advertising and public relations, the

YRC cites good volume, but also liquidity pressure

U.S. trucker YRC Worldwide said on Monday that business volumes were increasing in June after better-than-expected gains in shipping volume in May, but the company was facing liquidity pressure amid the revived growth in its business.YRC, which narrowly averted a bankruptcy filing in December and has been undertaking a broad restructuring of operations and its finances, said it expects to achieve

Selasa, 08 Juni 2010

Arkansas Best Corporation to Appear at the Bank of America Merrill Lynch Global Transportation Conference

Arkansas Best Corporation will appear at the Bank of America Merrill Lynch Global Transportation Conference in New York City on Tuesday, June 15, from 10:55 a.m. until 11:30 a.m. ET. Judy R. McReynolds, President and Chief Executive Officer will make a company presentation. The live program will be webcast (in a listen-only mode) and an archive will be available following the presentation.To

YRC Worldwide is Among the Companies in the Trucking Industry With the Highest Level of Efficiency

Below are the top five most-efficient companies in the Trucking industry as ranked by Revenue Per Employee (RPE). Analysts use RPE as a measure to compare the productivity of companies in the same industry.YRC Worldwide (NASDAQ:YRCW) ranks first with an RPE of $2.03M; Landstar System (NASDAQ:LSTR) ranks second with an RPE of $1.53M; and Universal Truckload Services (NASDAQ:UACL) ranks third with

Kamis, 03 Juni 2010

Goldman resigns as Teamsters Central States fiduciary

Goldman Sachs Asset Management resigned as a named fiduciary of the $19.8 billion Central States, Southeast & Southwest Areas Pension Fund, Rosemont, Ill.The pension fund plans to transfer the 30% of plan assets that Goldman Sachs controlled to Northern Trust Global Advisors, the fund’s other named fiduciary, then move 10% of the plan’s assets to passively managed index funds, according to a

Senin, 31 Mei 2010

Arkansas Best Gets New CFO

Michael Newcity will become the chief financial officer of Arkansas Best Corp. effective Tuesday.According to a company news release, he currently serves as its director of economic analysis, leading a group that provides critical analysis on topics including costing and profitability methods, incentive systems, business metrics and forecasting.Newcity, 40, has held a variety of positions with

Senator's plan would aid Teamsters' pension fund

With twice as many retirees as active workers, the Western Pennsylvania Teamsters Fund, like many multi-employer pension plans, is in trouble.A proposal by Sen. Bob Casey, D-Pa., would help rescue the fund and one other pension plan by allowing beneficiaries of bankrupt companies to spin off into their own federally backed plans instead of dragging down the larger plan.The rescue effort would

Selasa, 25 Mei 2010

Trucker YRC sees May gains; stock split upcoming

Troubled trucking company YRC Worldwide is on the road to recovery, according to its Chairman Bill Zollars, who said operations improved in May and were expected to gain more ground in the coming months.After a brush with bankruptcy last year, business has stabilized and YRC has streamlined costs and set its multiple divisions on a growth path that should translate to positive EBITDA for the

ABF Freight Teamsters Reject Plan to Protect Jobs, Benefits

Plan Would Have Reduced Gross Wages and Mileage Rates By 15 PercentTeamsters employed at ABF Freight System have rejected a Wage Reduction-Job Security plan aimed at protecting the jobs of more than 7,000 workers and securing their health, welfare and pension benefits for the remainder of the National Master Freight Agreement.Mail ballots were sent out April 30 and counted today with the process

Teamsters reject ABF wage adjustment contract

More than 3,700 of the roughly 7,000 union employees of ABF Freight System rejected a wage-adjustment deal negotiated by the company and Teamsters leaders.It is unclear what the setback will mean for a trucking company that has struggled to survive during a national freight recession that began in late 2006.The International Brotherhood of Teamsters reported in late April that it and Fort

Senin, 24 Mei 2010


Teamsters Name Pension Expert To Company's BoardThe Teamsters Union announced today that it has agreed to form two joint labor-management committees to address YRC Worldwide Inc.’s re-entry into Teamster pension funds in January 2011 and ways to enhance YRCW’s competitiveness in the freight industry.“Thanks to the sacrifice and hard work of our members, YRCW is rebounding from the impact of the

YRC Worldwide and Teamsters Take Steps to Enhance the Company's Market Position and Support Jobs

Joint committees formed to address long-term competitiveness and reentry into union pension plansIBT nominates candidate for board of directorsYRC Worldwide Inc. announced today that joint committees representing International Brotherhood of Teamsters leadership and YRC Worldwide management are being formed to address the company's competitiveness and reentry into union pension plans. In addition

Selasa, 11 Mei 2010

ABF Update

Additional Details On Equal Sacrifice, Money Earned Before Effective Date, U-Pack And Executive Compensation.A letter from Tyson Johnson, Teamsters National Freight Division Director, provides important information about some key issues. Read the letter.

'Best of the Best' ABF Service Centers Recognized With President's Quality Awards

ABF Freight System, Inc., service centers in Fort Smith, Ark., Hickory, N.C., Reno, Nev., and Albuquerque, N.M., are scheduled to receive the prestigious President's Quality Award from ABF President and Chief Executive Officer Wes Kemp. The award recognizes service centers most exemplifying the ABF Quality Process, which are considered the "Best of the Best."All ABF service centers annually

YRC charts course to recovery by end of 2010

Leading trucker YRC Worldwide, which narrowly averted bankruptcy in December, expects to have a "global solution" to looming 2011 financial obligations within the next few months, the company's top executive said on Monday.The plan comes as improved business volumes are seen helping the still-struggling company post gains through the end of the year."We are not out of the woods yet. We've still

Selasa, 04 Mei 2010

YRC Worldwide Q1 2010 Earnings Call Transcript

YRC Worldwide Q1 2010 Earnings Call Transcript

YRC Worldwide Q1 Loss Widens; Shares Down 12%

Transportation services company YRC Worldwide Inc. said Tuesday that net loss slightly widened for the first quarter attributed mainly to a 29% fall in National, Regional and Logistics segment revenues. Total tonnage and shipments declined across all segments during the quarter. Further, the company gave its operational guidance for the full year. Following the results, the company's shares were

Sabtu, 01 Mei 2010

NASSTRAC Names ABF National LTL Carrier of the Year for 2010

ABF Freight System, Inc., has been named National LTL Carrier of the Year by the National Shippers Strategic Transportation Council (NASSTRAC). The selection of ABF was announced April 26, 2010, during the NASSTRAC Conference and Expo in Orlando, Florida."In receiving this award we acknowledge the ABF professionals who have not only persevered through adverse market conditions but also have

YRC stacks its board with turnaround experts

YRC Worldwide Inc. outlined an overhaul of its board of directors on Friday. The move is part of a deal the trucking carrier struck to entice bondholders to swap debt for equity.Seven members of the YRC board will resign effective May 11, according to filings with the Securities and Exchange Commission. Five new members — most with experience in turning around companies — will join the board

Kamis, 29 April 2010

Arkansas Best, ABF Freight System Make Job Changes

Arkansas Best Corp. and ABF Freight System Inc. recently reassigned the jobs and duties for three executive positions.According to a company news release issued late Tuesday, James Ingram, Arkansas Best vice president of market development, will add the responsibilities of strategic development. He will be vice president of strategic development and replace Chris Baltz, Arkansas Best senior vice

Rabu, 28 April 2010

2010 Richmond: David Ragan NASCAR Nationwide Race Preview

Ragan on racing at Richmond International Raceway: "Richmond is always an exciting track to race at. It’s a very fast short track and racing under the lights is always fun for us as drivers and for the fans to watch. After a good run last week in Talladega, I feel like our UPS team has some momentum headed into Richmond this weekend." Crew chief Donnie Wingo on racing at Richmond International

Teamsters Launch Campaign: 'FedEx Drivers Aren't Pilots'

Effort Supports Legislation to End FedEx Loophole, Level Playing FieldGround control to FedEx: Your drivers aren't pilots. The Teamsters Union launched a campaign today to level the playing field in the package delivery industry. Through advertising, a website and videos, the Teamsters are urging Congress to pass legislation closing the loophole that gives FedEx a special status. That status

YRC returns president title to CEO

YRC Worldwide Inc. has made changes among top leadership of the company, returning the title of president to company Chairman and CEO Bill Zollars and appointing a top executive to focus on customer care.Former COO and President Tim Wicks resigned April 12 to take a job with his former employer, United Healthcare. Zollars had given him the president title in October.The company appointed Michael

Jumat, 23 April 2010

Arkansas Best Corporation Announces First Quarter 2010 Results

Arkansas Best Corporation today announced a first quarter 2010 net loss of $21.4 million, or $0.85 per share, compared to a net loss of $18.2 million, or $0.73 per share in the first quarter of 2009."Despite some signs of improvement in our nation's economy resulting in the stabilization of our business, Arkansas Best's first quarter results illustrate the ongoing effects of low freight levels

Kamis, 22 April 2010

Teamsters Praise Legislation To Stop Worker Misclassification

Teamsters General President Jim Hoffa praised legislation introduced today that would make worker misclassification a violation of federal labor laws, increasing penalties for companies found to improperly classify workers as independent contractors."Workers misclassified as independent contractors receive no protection from workplace health and safety laws, no legal rights to equal opportunity

Senin, 19 April 2010


On Monday, April 19, leaders of freight local unions from across the country overwhelmingly endorsed an economic relief plan for ABF Freight System, Inc. that will protect thousands of Teamster members’ jobs and their health, welfare and pension benefits.“Local union leaders understand that we need to take a bold step to help ABF get through this terrible economy and that we must act now to

Minggu, 18 April 2010


The Teamsters National Freight Industry Negotiating Committee (TNFINC) and ABF management reached a tentative agreement today on a plan to provide economic relief to ABF that will protect thousands of Teamster jobs and protect workers' health, welfare and pension benefits.Details of the plan will be presented Monday, April 19 to leaders of local unions that represent ABF members. The leaders will

Rabu, 14 April 2010

Teamsters Praise Passage of Bill to Stop Worker Misclassification

The Teamsters praised the passage of a Nebraska state bill making it illegal for employers to improperly classify workers as independent contractors, an egregious practice that has cost the state millions in tax revenue.Gov. Dave Heineman signed Legislative Bill 563 into law on Tuesday. Jim Sheard, Secretary-Treasurer of Local 554 in Omaha, said the Teamsters fought for nearly two years to get

UPS Freight Zone Drivers in Six States Are Now Teamsters

Teamsters Now Represent Nearly All Eligible UPS Freight WorkersA group of UPS Freight workers spanning six states have joined the nearly 12,600 drivers and dockworkers across the country covered by a Teamster contract. UPS Freight drivers voted unanimously to ratify their first-ever contract as Teamsters. With this vote, nearly all UPS Freight drivers and dockworkers enjoy the benefits and voice

Selasa, 13 April 2010

YRC President Resigns

Tim Wicks, YRC Worldwide Inc. President and Chief Operating Officer, announced this morning that he has resigned.Wicks has only been in the president position at YRC for seven months and will now be leaving to return to his previous job with United Healthcare.Despite the YRC's scare of almost having to file bankruptcy last December, first quarter profits have kept the company afloat.However,

Kamis, 08 April 2010

YRC Rises: Freight Volume Up in March

Trucking logistics firm YRC Worldwide today issued a first quarter update, saying freight volume picked up in March from February and January, despite inclement weather, and reiterating a view that the company is on track to produce positive pre-tax profit in the second quarter.Specifically, average shipments per workday for YRCW were 42,700 for YRC National and 33,700 for YRC Regional in Q1.In

Teamsters, ABF to begin contract talks today

Negotiations will center on possible wage, benefit concessions by the 7,000 Teamster members employed at ABF.The Teamsters union and less-than-truckload carrier ABF Freight System will begin contract negotiations today to discuss possible wage and benefit concessions by the approximately 7,000 Teamster members employed at ABF.In a communiqué posted April 6 on the Teamsters' Web site, the union

Rabu, 07 April 2010

Driver uses truck to protect injured man on I-675 ramp

Crash investigators are trying to determine whether alcohol consumption contributed to a car accident at the exit ramps from eastbound U.S. 35 to Interstate 675 on Wednesday, April 7.Police have identified Craig Scott, 27, of Bellbrook, as the man injured in the single-car accident. He was flown by CareFlight to Miami Valley Hospital. Scott was in surgery at Miami Vallley Hospital as of noon

Selasa, 06 April 2010

Key analyst raises rating for YRC Worldwide stock

Transportation stock analyst Ed Wolfe has reinstated and raised his rating for YRC Worldwide Inc. after the company filed more details about its finances with the Securities and Exchange Commission.Wolfe, of Wolfe Research, suspended guidance for investors on March 1 after YRC released only limited information about its fiscal 2009 fourth quarter. He said at the time that the lack of data caused


Protecting pensions and saving jobs is the top priority of the Teamsters Union, which has launched a grassroots offensive to win pension relief from Congress, General President Jim Hoffa told trustees this week.Teamster trustees from across the nation met in Scottsdale, Ariz., at the annual Trustee Education Conference to strategize about tackling the funding pressures facing all pension plans

Senin, 05 April 2010

Crisis at YRC having ripple effect on labor

YRC's troubles are taking employees, the Teamsters' freight division, and the multi-employer pension system for a wild ride.The International Brotherhood of Teamsters has seen a lot in its 107 years of existence. But in its near two-year effort to rescue troubled trucker YRC Worldwide Inc., it's a safe bet the venerable union went where it has never gone before.During 2009, as YRC's financial

Jumat, 02 April 2010

Searching for Balance

The uncertain economy is wreaking havoc for less-than-truckload carriers. Declining volumes are causing unprecedented overcapacity and aggressive pricing reductions, while some shippers are shopping based primarily on price in what many experts are calling the worst market ever for the industry.These market conditions forced a number of companies to cut salaries, staff, and even 401K matches. Yet

Businesses On The Brink: Change Or Fail?

Many major companies like Circuit City and Linens 'n Things went bankrupt during the economic crisis of 2008-2009. These companies folded under high debt levels and a decline in sales. Just because some companies were able to survive the economic downturn of the past few years doesn't mean they are out of the woods yet. Companies like Blockbuster and Borders are going down with their industries,

YRC seeks court ruling to avoid $20 million payment to bondholders

YRC Worldwide Inc. is seeking a court ruling to avoid an imminent $20 million payment to bondholders who didn’t cooperate in the company’s restructuring late last year.The Overland Park trucking company Thursday filed its request for summary judgment in federal court in Kansas City, Kan., against Deutsche Bank Trust Co. Americas. Deutsche is the noteholders’ trustee. Full Story......

Minggu, 28 Maret 2010


A subcommittee of the Teamsters National Freight Industry Negotiating Committee (TNFINC) exchanged information with ABF representatives late this week and engaged in preliminary discussions about the company’s financial needs.Further discussions between the Teamsters and ABF will begin once an independent financial advisor has verified the company’s financial needs.More information will be


Protecting pensions and saving jobs is the top priority of the Teamsters Union, which has launched a grassroots offensive to win pension relief from Congress, General President Jim Hoffa told trustees this week.Teamster trustees from across the nation met in Scottsdale, Ariz., at the annual Trustee Education Conference to strategize about tackling the funding pressures facing all pension plans

Rabu, 24 Maret 2010

U.S. Senator Robert Casey Holds Press Conference at YRC Service Center in Advance of Introducing Multiemployer Pension Reform Legislation

YRC Worldwide Inc., one of the largest transportation service providers in the world, expresses strong support for legislation to be introduced in the U.S. Senate. The Create Jobs and Save Benefits Act of 2010 was outlined yesterday by Senator Robert P. Casey (D-PA.) at the YRC Worldwide facility in Harrisburg, Penn., which is the largest facility in the YRC Worldwide network. Legislation being

Selasa, 23 Maret 2010

Congress to consider YRC pension relief

YRC Worldwide Inc.’s push to get relief for its benefits costs picked up momentum Monday as the U.S. Senate began to consider a bill that would address problems with multi-employer pension plans.Sen. Bob Casey of Pennsylvania said he would introduce a bill intended to protect the pension payments of retirees of failed businesses while assisting companies such as YRC, whose pension liabilities

Senin, 22 Maret 2010

YRC Worldwide may get a break from pension woes through federal legislation

Unionized companies like YRC Worldwide Inc. may get some relief from having to provide pension benefits for people they never employed.U.S. Sen. Robert Casey Jr., D-Pa., said Monday that he plans to introduce legislation this week that would change some of the rules controlling multiemployer pension plans, or union-operated retirement pools to which a number of different companies contribute.YRC,

Minggu, 21 Maret 2010

ABF Selects 10 Freight-handling Professionals for the 2010-2011 Load Team

ABF Freight System, Inc., has named a select group of freight-handling professionals from across ABF’s North American network for its 2010-2011 Load Team. Those chosen along with their customer service Centers are:Gregory Allen, Dayton, OhioRobert Anderson Jr., Kansas City, Mo.Jack Boseman, AtlantaRandall Espey, DallasNickola Georgiefski, ChicagoJames High, Carlisle, Penn.Kenneth Reinhart,


ABF Teamsters dialed in to a “tele-town hall” discussion on Thursday night, March 18, 2010 to get an update on the efforts to save more than 6,000 Teamster freight jobs at ABF. Listen to the audio here.

Kamis, 18 Maret 2010

2010 Bristol: Jason Leffler NASCAR Nationwide Race Preview

Jason Leffler sporting the color of the Irish at Bristol Motor SpeedwayLeffler returns to the seat of the No. 10 ABF Camry this weekend at "Thunder Valley." During the 2010 season, Leffler will spend his time piloting Braun Racing’s No. 10 Camry (eight races) and No. 38 Camry (27 races), competing in a full schedule and making a run for the 2010 driver championship. Leffler and his crew,

Selasa, 16 Maret 2010

U.S. Recession Taking Toll on ABF

ABF Freight System, like all freight companies, is doing its best to weather the worst operating period it has ever experienced. ABF, with a reputation as one of the best and most efficient motor carriers in the LTL industry, has suffered an unprecedented drop in shipments and revenues since late 2008 coinciding with the near collapse of the entire U.S. economy.Due to prudent business decisions

YRC Worldwide reports a fourth-quarter profit on $194M debt-redemption gain

YRC Worldwide Inc. swung to a fourth-quarter profit, although the number got help from a one-time gain tied to the company’s successful debt-for-equity swap, the company said in a regulatory filing late Tuesday.The Overland Park-based trucking and logistics company in a Securities and Exchange Commission filing reported earning $119.5 million, or $1.64 a share, during the three months ending Dec.

Minggu, 14 Maret 2010

National security jitters have trucking firms focusing on vigilance

Driving to work one morning, the government official charged with keeping the trucking industry safe from terrorists spotted an Osama bin Laden look-alike on the Capital Beltway.The tall, bearded, white-robed foreigner tending to a stalled Toyota on the American Legion Memorial Bridge, the official later learned from police, was just a Sikh fixing a flat tire.But Bill Arrington, general manager

Selasa, 09 Maret 2010

Arkansas Best To Elect 3 Directors, Vote On Pay Plan

Shareholders of Arkansas Best Corp. of Fort Smith will elect three directors at the company's annual meeting April 22 and vote on a proposal to raise maximum executive pay from $1 million to $3 million annually.Directors up for re-election to one-year terms are John W. Alden, retired vice chairman of United Parcel Service of America Inc. of Atlanta; Frank Edelstein, a consultant with Kelso & Co.

YRC continues layoffs, sees shipping uptick

As cost-cutting continues, YRC Worldwide Inc. has eliminated about 2,000 jobs since the end of 2009, the head of the company said today.Bill Zollars, YRC's chairman and CEO, told analysts at a J.P. Morgan conference that YRC currently has about 34,000 employees companywide, down from about 36,000 in December.By the end of 2010, YRC plans to take out an additional $300 million in annual costs,

YRC: not many economic recovery signs

The CEO of YRC Worldwide Inc. said Tuesday he has not seen consistent signs of an economic recovery, although the trucker's business is improving.Speaking at the JPMorgan Aviation, Transportation and Defense conference, Bill Zollars said there is no expectation of an economic rebound in the short term."We're not banking on it, but if it does, that will be more wind at our back," he said.YRC,

Minggu, 07 Maret 2010


Teamsters Now Represent Nearly All Eligible UPS Freight WorkersUPS Freight workers in LaCrosse, Wis., unanimously voted to ratify their first-ever contract as Teamsters. The Teamsters now represent nearly all of the 12,600 UPS Freight drivers and dockworkers eligible to join the union.The workers, who service hard-to-reach areas outside of UPS Freight’s existing terminals, are represented by

LTL Industry Shrinks 24.4 Percent

Total U.S. LTL revenue down to $25.2 billion in 2009, study showsThe less-than-truckload industry shrank 24.4 percent in 2009, as total U.S. LTL revenue plunged from $33.3 billion to $25.2 billion, according to an industry study.The recession triggered by the 2008 global financial crisis spurred the worst decline in freight revenue in several years, the study by SJ Consulting Group revealed.The

YRC Worldwide Receives NASDAQ Notification

YRC Worldwide Inc. reported it was notified by The Nasdaq Stock Market on March 3, 2010 that it is not in compliance with Nasdaq Marketplace Rule 5450(a)(1) because shares of its common stock closed at a per share bid price of less than $1.00 for 30 consecutive business days. In accordance with Nasdaq Marketplace Rule 5810(c)(3)(A), the company has 180 calendar days, or until August 30, 2010, to

Kamis, 04 Maret 2010

Hoffa Applauds Move to Repeal NAFTA

Teamsters Leader Says It's Time to Bail out of a Bad DealTeamsters General President Jim Hoffa praised today's announcement that a bipartisan bill to repeal the North American Free Trade Agreement has been introduced in the House of Representatives.The bill is aimed at stimulating investment and employment in manufacturing, which has lost nearly a third of its workers since NAFTA was approved in

Selasa, 02 Maret 2010

In shake-up at YRC Worldwide, Kansas City’s gain could be Springfield’s loss

YRC Worldwide Inc.’s proposal to change the operations of its national trucking company would add a few local jobs but result in bigger losses at the Springfield, Mo., terminal.Overland Park-based YRC Worldwide presented its change-of-operations memo to the Teamsters union late last month, saying a continuing weak economy is forcing the company to eliminate some duplicate operations.YRC Inc., the

YRC makes further job cuts

U.S. trucker YRC Worldwide has slashed its workforce further, cutting into its already-thinned ranks as it tries to appease lenders and debt-holders as part of a broad financial restructuring.The trucking company refused comment. Sources within the company said the No. 1 less-than-truckload carrier laid off at least 200 people in February from its Overland Park headquarters location and a campus

Kamis, 25 Februari 2010

Trucking companies haul in a freight rebound in January

Freight conditions continued to improve in January, which saw the best year-to-year tonnage increase in five years, according to the American Trucking Associations.The trade group said in a Wednesday release that its seasonally adjusted for-hire truck tonnage index rose 3.1 percent in January, building on a 1.3 percent gain in December. Compared with shipping activity during January 2009, the

Rabu, 24 Februari 2010

Jeanette Sanders Retires as Dockworker

Twenty-three years ago, Jeanette Sanders of Kansas City, Missouri needed a job to support her two children.She saw an ad in the newspaper about a dockworker job at Roadway (which later became YRC), a freight company.On February 26, Sanders is set to retire from YRC, becoming the first female dockworker for an LTL (less than truckload) freight company to retire as a member of Local 41 in Kansas

YRC Worldwide closes first tranche of $70 million private debt offering

YRC Worldwide Inc. said it had closed on the first tranche of a $70 million private-placement offering announced earlier this month.The Overland Park-based trucking firm said proceeds from the new financing would go toward settling obligations to bondholders with about $45 million in 2010 notes. That group did not participate in YRC's $470 million debt-for-equity swap at the end of 2009.The first

Kamis, 18 Februari 2010

Trucking failures to accelerate this year

Bankruptcies in the U.S. trucking industry are expected to escalate this year as higher fuel prices and excess capacity squeeze margins further and lenders start to tighten their noose on the sector.The highly fragmented freight market in the United States has been in recession for about three years now. Excess capacity has put pressure on pricing and dented margins at truckers as well as freight

Rabu, 17 Februari 2010

Challenging year for US truckers - but better prospects ahead

Following the release of the results of a number of US logistics companies, it is possible to give an update on the state of the US market. Undoubtedly it was another difficult year for logistics companies of just about all types.Looking positively, the largest player in the less-than-truckload market, YRC Worldwide, is still in business despite reporting a pre-tax loss of $899 million. This

YRC shareholders approve stock deal

Clears way for $70 million private placementNewly issued stock eligible for the Nasdaq exchangeStock plunges about 29 pctYRC Worldwide said on Wednesday that shareholders had agreed to a series of measures aimed at giving former debt holders equity control and helping the troubled U.S. trucking giant regain its financial footing.The approvals, the latest moves in a broad financial restructuring

Selasa, 16 Februari 2010

Hoffa Says Teamsters to Build on YRC Success

Union must save existing jobs while organizing new companies, Hoffa saysThe Teamsters are ready to put the muscle they used against Wall Street to help YRC Worldwide into action against fresh opponents, says General President James P. Hoffa."We took on the big banks to save YRCW and we're going to keep taking on big companies like Coca-Cola," Hoffa told representatives from more than 200

Kamis, 11 Februari 2010

YRC Worldwide Enters Into Note Purchase Agreement for $70 Million in New Capital

YRC Worldwide Inc. today reported that it has entered into definitive agreements with investors who have agreed to purchase $70 million in new unsecured convertible notes in a private placement. The company will use the proceeds from the issuance of these new notes to satisfy its remaining 2010 note obligations, with any excess proceeds available to be used for general corporate purposes. The new

Selasa, 09 Februari 2010

Arkansas Best Corporation to Deliver Presentation at 2010 Transportation Services Conference

Arkansas Best Corporation will be giving a presentation at the BB&T Capital Markets 2010 Transportation Services Conference. The company's President and Chief Executive Officer, Judy R. McReynolds, will host their presentation at the event. The company is scheduled to deliver their presentation on February 11, 2010 at 8:25am (EST). The presentation will be webcast, both live and for replay,


Bill Zollars, Chairman and CEO of YRC Worldwide Inc., will deliver a company presentation at the BB&T Capital Markets Transportation Services Conference on Wednesday, February 10, 2010, at 1:15pm ET. The conference will be held at The Biltmore Hotel, 1200 Anastasia Avenue, Coral Gables, Florida.The presentation will be available to listeners through a live webcast via the YRC Worldwide Internet

Jumat, 05 Februari 2010

YRC Sees 'Momentum,' but Road Ahead Is Still Rough

YRC Worldwide sees 'good momentum,' as some major customers stick with itYRC Worldwide, one of the country's largest trucking companies, on Friday posted an operating loss for the fourth-quarter because of the weak economy and internal financial struggles.But the company said it sees "good momentum" in its business so far this year and is getting support from some big customers who have stuck

YRC Worldwide Reports Year-Over-Year and Continued Sequential Improvement in Fourth Quarter 2009 Results

Successful Debt-for-Equity Exchange SignificantlyEnhances Balance Sheet Exchange Triggers Access to $160 Million in Additional Liquidity New Capital-Raise Discussions in Advanced StagesYRC Worldwide Inc. today reported year-over-year and continued sequential improvement in its fourth quarter 2009 results. For the quarter ending December 31, 2009 the company announced pre-tax income of $50 million

Selasa, 02 Februari 2010

ABF Returns to Braun Racing as Primary Sponsor

Braun Racing is pleased to announce that their marketing partner of four years, ABF, is expanding their current racing program and will serve as primary sponsor of the No. 10 Toyota Camry for seven races in 2010. Jason Leffler will pilot the No. 10 ABF Camry in those races, listed below. Daytona International Speedway (February 13)Bristol Motor Speedway (March 20)Darlington Raceway (May 7)Dover

12 Drivers Chosen for the 2010-2011 ABF Road Team

ABF Freight System, Inc., has selected its 2010-2011 Road Team, consisting of the top driving professionals from across ABF's North American network. The ABF Road Team members and the ABF Service Centers where they are based are:Charles Ammerman – South Bend, Ind.Timothy McElwaney – Atlanta, Ga.David Boyer – Wytheville, Va.Usevio Martinez – Amarillo, TexasCharlie Estrada – Albuquerque, N.M.Kip

UPS posts lower profit, but sees jump for 2010

United Parcel Service Inc. reported higher earnings, helped by much-improved margins, although revenue fell because of weakness in the U.S.The shipping company also warned the first quarter would be the most challenging of the year, with profitability expected to be only slightly better than last year. Analysts were expecting a 13% per-share increase.For the full year, UPS projected earnings of

Senin, 01 Februari 2010

Chicago Teamsters let YRC Worldwide temporarily halt pension payments

A group of dissident union workers employed by YRC Worldwide Inc. in Chicago has narrowly passed a proposal waiving the company’s pension obligations until next year.The International Brotherhood of Teamsters’ Local 705 reported on its Web site Saturday that the final vote total was 178-142 in favor of the proposal.Spokespeople for the local didn’t immediately return a phone call for comment

Goldman halted market-making on YRC after empty creditor claim

Goldman Sachs stopped making markets in bonds and credit default swaps (CDSs) on US freight company YRC Trucking for around two weeks from December 16, as part of an effort to stave off a public relations catastrophe. The decision to stop quoting on YRC is understood to have been taken at a very senior level in Goldman, after freight union International Brotherhood of Teamsters (IBT) sent letters

Sabtu, 30 Januari 2010

YRC introduces automatic No-fee, Money-back Guarantee on standard service shipments

YRC Inc. announced the introduction of its new No-fee, Money-back Standard Service Guarantee. Effective in January, shippers are automatically eligible to receive a 100-percent refund if their shipments fail to deliver on the scheduled day of service."Shippers want peace of mind, knowing their goods will deliver as scheduled. Nothing delivers that level of confidence like a YRC guarantee," says

Arkansas Best Corporation Announces Fourth Quarter and Full Year 2009 Results

Arkansas Best Corporation announced a fourth quarter 2009 net loss of $88.7 million, or $3.54 per share.These results include previously disclosed charges for non-cash goodwill impairment of $2.55 per share and supplemental pension settlements of $0.11 per share. Excluding these charges, Arkansas Best had a fourth quarter 2009 net loss of $22.1 million, or $0.88 per share, compared to a net loss
The national Share the Road highway safety program has returned to West Virginia for the fourth time in three years to deliver life-saving highway driving tips from the nation's top professional truck drivers. The 2010 West Virginia International Auto Show provided the perfect backdrop for the elite group of million mile accident-free drivers to share their message of road safety. According to

ABF, Teamsters to Meet for 'Dialogue'

LTL carrier seeks more even playing field with YRC ABF Freight System is holding a "dialogue" with the Teamsters union over pension liabilities and labor costs, the company's top executive said yesterday."We've had continuing dialogue" with the Teamsters, and "we do have a meeting set with them to discuss our issues," Judy R. McReynolds, president and CEO of Arkansas Best, said in a conference

Kamis, 21 Januari 2010

U.S. truckers call for new safety regulations

The Teamsters Union has asked the U.S. government to reverse a regulation that increased the number of hours truckers can drive.The regulation, which was issued in 2003, raised the number of hours truck drivers can spend behind the wheel from ten to eleven consecutive hours each shift, and from 60 to 77 hours of driving each week. The rule also cut off-duty rest and recovery time at the end of

YRC sets special shareholders meeting: Trucking company hopes to make $470 million debt-for-equity exchange official next month

YRC Worldwide Inc. intends to make its successful debt-for-equity swap official on Feb. 17.That's when the struggling trucking company and parent of the former Roadway Corp. in Akron has scheduled a special shareholders meeting to consummate parts of its $470 million debt-for-equity exchange that bondholders approved on Dec. 31.The move likely averted a bankruptcy filing for the Overland Park,

Holland Freight announces next day service from Toronto

Next day service from Toronto to seven Midwest cities has been announced by Holland Freight, a subsidiary of YRC Worldwide Inc.U.S cities now being serviced by Holland Freight from Toronto with next day service are Chicago; Joliet, Ill.; Wheeling, Ill.; Cincinnati; Indianapolis; and Huntington W. Va.Holland Freight President Jeff Rogers said the move gives his company the largest next-day

2009 likely the toughest ever for the trucking industry

It’s official. Sort of.The American Trucking Associations' notes that in 2009 “the motor carrier industry has potentially endured the most severe drop in volumes ever.”Lane Kidd, director of the Arkansas Trucking Association, agrees. He said most Arkansas-based trucking companies still operating were “significantly” damaged in 2009. He said they employ fewer people, have lower balance sheets and

Kamis, 14 Januari 2010

LTL carriers seeing some signs of demand increase

Two carriers announce LTL rate increasesLess-than-truckload carriers are a bit more optimistic about demand today than they were even a month ago. But, pricing remains something of a mixed bag. Some carriers are focusing on competitive rates to gain market share while others are increasing rates in the hope of improving profitability. A fourth quarter review from Wolfe Research says truck demand

Analysts: YRC will report a rough fourth quarter

A trucking industry analyst said he expects haulers to continue to struggle through the first half of the year, at least, and predicted an “exceptionally weak” fourth-quarter report from YRC Worldwide Inc.Ed Wolfe, of Wolfe Research LLC, said in a research report Wednesday that YRC probably will report “massive (earnings per share) and cash-flow losses” for the fourth quarter, during which it

YRC Launches Public Campaign to Win Back Shippers

Online ads stress importance of YRC to 'competitive rates'YRC Worldwide is engaging its competitors -- and the media -- in a fierce battle for freight and customer confidence after squelching fears of a near-term bankruptcy.Fresh from its successful debt-for-equity swap Dec. 31, YRC Worldwide is taking its message to shippers through advertising and marketing aimed at building volume.It's the

UPS Donate $1 Million To Haiti Earthquake Relief In Cash And Freight Services

Atlanta-based freight and parcel carrier UPS has announced they are to donate more than $1 million worth of support to the international efforts to assist the survivors of the massive earthquake that hit Haiti yesterday.The contribution shall be made up of $500,000 in cash with the rest made up of in-kind support services.The assistance is to be split between The Red Cross, UNICEF and CARE to be

Selasa, 12 Januari 2010

YRC Pays Wicks $800,000 to Stay

Trucking giant paid president $400,000 after debt swap as part of non-competition agreementYRC Worldwide paid one of its top executives $400,000 this week as part of a non-competition and confidentially agreement that includes an additional $400,000 in incentive pay if he stays with the company and meets certain goals through July.President and Chief Operating Officer Timothy A. Wicks will

Standard & Poor’s raises YRC Worldwide credit rating after debt-for-equity swap

YRC Worldwide Inc. is seeing additional benefit from the recent completion of a debt-for-equity swap, with Standard & Poor’s declaring the company no longer in default.The rating service said in a Monday release that it raised its corporate credit rating of YRC to “CCC-” from “SD,” or “selective default.” The new rating still is considered a junk rating. It also said it raised its rating of

Rabu, 06 Januari 2010

Arkansas Best officials not focused on YRC troubles

While the bankruptcy of national trucking giant YRC would boost the fortunes of Fort Smith-based Arkansas Best Corp., officials with the Fort Smith trucking company aren’t pinning their hopes on a YRC stumble.Overland Park, Kan.-based YRC in the past few days avoided bankruptcy through a complex bond swap agreement with creditors. The deal essentially reduced the company’s debt by about $500

Trucking Execs Look Forward to Speech About Nat’l Outlook

The Traffic Club of Memphis isn’t wasting any time tackling issues that will be important to the trucking industry in 2010.At its first monthly meeting, set for Tuesday at The Racquet Club of Memphis, the longtime trade association has invited Tommy Hodges, recently installed chairman of the American Trucking Association, to deliver a keynote speech about all things trucking.The speech will be

Selasa, 05 Januari 2010

YRC and the Street's Appetite for Destruction

In the battle between the truckers and the hedge funds, the truckers won. The fact that YRC Worldwide almost went bust because of credit-default swaps shows how little has changed on Wall Street.The struggle for survival at YRC, trucking company best known for its Yellow and Roadway-branded big rigs, attracted scant media attention in the waning days of 2009.YRC did survive, but only after the

YRC Worldwide Sets January 4, 2010 as Record Date for Special Shareholders Meeting

YRC Worldwide Inc. announced today that it has established a record date of January 4, 2010 for its special meeting of shareholders to vote on an amendment to its certificate of incorporation to increase the amount of authorized shares of common stock, to reduce the par value of the common stock and to effect a reverse stock split and to proportionately reduce the number of authorized shares of

The New and Improved LTL Industry

It’s no secret that the global economic crisis removed the veil that had obscured some fundamental weaknesses in business practices across the transportation and logistics sectors.When times were good and it appeared that cargo container volumes would double every 10 years forever (remember the go-go years of 1998 through 2008?), the biggest challenges the logistics community seemed to face where

Arkansas Best Corporation Announces Its Fourth Quarter 2009 Earnings Conference Call

Arkansas Best Corporation will announce its fourth quarter 2009 results, prior to the opening of the market, on Thursday, January 28, 2010. A conference call with company executives will be held that day at 11:00 a.m. ET (10:00 a.m. CT) to discuss these results. Interested parties are invited to listen by calling (877) 275-1257 or (706) 634-6529 (for international callers). Following the call, a