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