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