tag:blogger.com,1999:blog-124542812009-11-24T11:39:22.644-05:00News and Views for Freight Teamsters1Teamsterhttp://www.blogger.com/profile/06021960632423401271noreply@blogger.comBlogger1237125tag:blogger.com,1999:blog-12454281.post-55914344430464138852009-11-24T11:36:00.001-05:002009-11-24T11:39:22.654-05:00

YRC Worldwide Inc. has sold part of its logistics unit for $34 million, which will help pay down YRC’s credit line.The Overland Park-based trucking giant said in a Tuesday release that it had sold YRC Logistics’ dedicated contract carriage business, including customer contracts and the trucks and trailers associated with it, to Dallas-based Greatwide Logistics Services LLC. The deal affects about

1Teamsterhttp://www.blogger.com/profile/06021960632423401271noreply@blogger.com0tag:blogger.com,1999:blog-12454281.post-71928459245024358742009-11-24T08:54:00.002-05:002009-11-24T08:58:44.547-05:00

The trucking industry didn’t get any help from the economy in October, though freight tonnages are starting to look more favorable compared with last year, according to the most recent report from the American Trucking Associations.The trade group said in a Monday release that its seasonally adjusted for-hire truck tonnage index dipped 0.2 percent in October, on the heels of a 0.3 percent drop in

1Teamsterhttp://www.blogger.com/profile/06021960632423401271noreply@blogger.com0tag:blogger.com,1999:blog-12454281.post-28887939607830123332009-11-19T18:59:00.002-05:002009-11-19T19:03:00.661-05:00

Wiser heads have prevailed in Washington regarding a lax trucking safety regulation the Bush administration repeatedly pushed on behalf of the industry. The Obama Administration has agreed to reconsider the rule, which safety advocates said could have led to greater driver fatigue and more accidents.The rule, finalized in the waning days of the Bush White House, would have allowed long-haul

1Teamsterhttp://www.blogger.com/profile/06021960632423401271noreply@blogger.com0tag:blogger.com,1999:blog-12454281.post-4841632959515619642009-11-18T18:15:00.001-05:002009-11-18T18:18:01.502-05:00

Statement by National Freight Director Tyson JohnsonThere is an erroneous media report that the International Brotherhood of Teamsters National Freight Division is in negotiations with ABF that would result in concessions for our members represented under the National Master Freight Agreement. Let me be clear -- this report is false.According to a November 17 article on the Journal of Commerce

1Teamsterhttp://www.blogger.com/profile/06021960632423401271noreply@blogger.com3tag:blogger.com,1999:blog-12454281.post-32684402853861086742009-11-18T07:57:00.002-05:002009-11-18T08:06:11.007-05:00

SummaryFinancially troubled YRC Worldwide is closing its 202-door Richfield, Ohio, breakbulk terminal, one of the largest in its system. The move is part of YRCW's downsizing, and affects about 1,000 Teamsters at three Ohio terminals. About 400 of those 1,000 Teamsters already are laid off.AnalysisTrucking terminals are a lot like what Richard Nixon's vice president, Spiro Agnew, once said of

1Teamsterhttp://www.blogger.com/profile/06021960632423401271noreply@blogger.com0tag:blogger.com,1999:blog-12454281.post-57176529360588732282009-11-17T14:22:00.001-05:002009-11-17T14:24:27.337-05:00

Trucking company YRC Worldwide plans to close a terminal in Richfield and move the work to two other Northeast Ohio terminals, including its Copley Township facility.The financially struggling Overland Park, Kan.-based company, parent of the former Roadway in Akron, has told its Teamsters workers that it is seeking what is called a ''change in operations'' in its contract that will lead to the

1Teamsterhttp://www.blogger.com/profile/06021960632423401271noreply@blogger.com0tag:blogger.com,1999:blog-12454281.post-82997515126154381142009-11-17T10:39:00.001-05:002009-11-17T10:41:31.009-05:00

Carrier expects to win wage concessions similar to givebacks at YRCLess-than-truckload carrier ABF Freight System is deep in talks with the Teamsters union to win concessions similar to those the union gave financially troubled competitor YRC Worldwide, including an overhaul of the company’s pension system, the carrier said.“We are in a dialogue with the Teamsters and hopefully we will reach an

1Teamsterhttp://www.blogger.com/profile/06021960632423401271noreply@blogger.com1tag:blogger.com,1999:blog-12454281.post-25114403964719684822009-11-16T12:02:00.001-05:002009-11-16T12:05:03.290-05:00

The U.S. economy and freight volumes will show no meaningful recovery at least through the first half of next year, putting further pressure on less-than-truckload rates and near-term profitability for LTL carriers, the chairman, president, and CEO of YRC Worldwide Inc. predicted.William D. Zollars said he expects a continued "challenging environment" for both volumes and pricing through the end

1Teamsterhttp://www.blogger.com/profile/06021960632423401271noreply@blogger.com0tag:blogger.com,1999:blog-12454281.post-5628560535803040452009-11-15T10:02:00.001-05:002009-11-15T10:03:55.938-05:00

Struggling trucking company YRC Worldwide Inc. issued a muted outlook in an investor presentation, saying conditions appear to have stabilized but warning it sees "no sustained positive momentum" for the economy.The presentation, dated Wednesday but posted on its Web site Tuesday, comes after it initiated a $536.8 million debt-for-stock swap on Monday viewed as key to its survival.YRC shares

1Teamsterhttp://www.blogger.com/profile/06021960632423401271noreply@blogger.com0tag:blogger.com,1999:blog-12454281.post-50721288767621467152009-11-15T09:39:00.002-05:002009-11-15T09:42:02.071-05:00

ABF Freight System, Inc., has been named among the top two U.S. companies to sell for in the service sector by Selling Power magazine, whose annual listing includes ABF for the eighth consecutive year. Always among the top 10, ABF ranks second for the second consecutive year and is again the highest ranked transportation company."During this challenging economy, ABF has steadfastly maintained its

1Teamsterhttp://www.blogger.com/profile/06021960632423401271noreply@blogger.com0tag:blogger.com,1999:blog-12454281.post-90822661653242662462009-11-15T09:36:00.001-05:002009-11-15T09:38:33.393-05:00

New Hampshire awarded Michael "Mickey" Rafeal, a 25-year driver for YRC, the New Hampshire Master Truck Driver Certification on November 2, the start of the American Trucking Associations' National Truck Driver Appreciation Week.The New Hampshire Motor Transport Association, Gov. John Lynch and the New Hampshire Department of Safety were at the State House to recognize Rafeal's career-long

1Teamsterhttp://www.blogger.com/profile/06021960632423401271noreply@blogger.com0tag:blogger.com,1999:blog-12454281.post-7635150606422340532009-11-05T06:43:00.001-05:002009-11-05T06:46:07.873-05:00

Sometimes the highways can look a lot like the jungle landscape seen in reruns of Mutual of Omaha's Wild Kingdom. Marlin Perkins narrated the '60's-era show back then, but today it's The Wall Street Journal reporting predatory activity along the trucking LTL food chain.The Prey? Beleaguered LTL freight giant Yellow-Roadway Corp. (YRC), which, the Journal reports, has been under raptor-like attack

1Teamsterhttp://www.blogger.com/profile/06021960632423401271noreply@blogger.com0tag:blogger.com,1999:blog-12454281.post-71582435002221332832009-11-01T10:23:00.002-05:002009-11-01T10:26:02.099-05:00

* Says removing 900 nonunion workers* Says no further cuts seen at this time* Says YRC is 75 percent of way to cost cut targetLeading U.S. trucker YRC Worldwide Inc said on Friday it is cutting about 900 nonunion jobs in what could be the final round of layoffs in the company's broad financial restructuring.The job cuts will be completed in the fourth quarter and should save the company between

1Teamsterhttp://www.blogger.com/profile/06021960632423401271noreply@blogger.com0tag:blogger.com,1999:blog-12454281.post-51292112915515359862009-11-01T10:16:00.001-05:002009-11-01T10:19:39.361-05:00

New shippers, existing customers help balance 'leaking business,' Zollars saysYRC Worldwide is still losing business, but it's gaining new customers as well, leading to "stabilization" of its customer base and improved yields, top company officials say."We've got new customers coming on board all the time," Chairman, President and CEO William D. Zollars said in an Oct. 30 conference call with

1Teamsterhttp://www.blogger.com/profile/06021960632423401271noreply@blogger.com0tag:blogger.com,1999:blog-12454281.post-78437948446565979742009-11-01T10:08:00.002-05:002009-11-01T10:11:51.802-05:00

* 95 pct of bondholders needed to convert* Ratings downgrades follow announcement* Shares end down 10 percent (Adds byline, updates with ratings agency comment,)YRC Worldwide Inc is well on the road to regaining its financial footing as it negotiates with bondholders for a debt exchange, company officials said on Friday.YRC wants to exchange its outstanding USF 8-1/2 percent notes and its

1Teamsterhttp://www.blogger.com/profile/06021960632423401271noreply@blogger.com0tag:blogger.com,1999:blog-12454281.post-16657277889596677522009-11-01T09:59:00.003-05:002009-11-01T10:05:13.173-05:00

YRC Worldwide Inc. Chairman and CEO Bill Zollars has given his president title to recently named COO Timothy Wicks.On Thursday, directors of Overland Park-based YRC made the change, according to a Friday filing with the Securities and Exchange Commission. Zollars said the board’s action acknowledged a change that actually was made on Oct. 5, but was not included in a company announcement at that

1Teamsterhttp://www.blogger.com/profile/06021960632423401271noreply@blogger.com0tag:blogger.com,1999:blog-12454281.post-4401433609667363492009-10-31T10:14:00.002-04:002009-10-31T10:17:32.613-04:00

SummaryYRC Worldwide, the nation's largest trucking company by volume, reported a $158.7 million loss in the third quarter on sharply declining revenue of $1.3 billion, compared with a net loss of $720 million on $2.38 billion revenue in the year-ago quarter. Despite the huge losses, YRC Chairman and CEO Bill Zollars says the company "gained significant momentum" in the third quarter and some

1Teamsterhttp://www.blogger.com/profile/06021960632423401271noreply@blogger.com0tag:blogger.com,1999:blog-12454281.post-36384613015880719062009-10-30T10:41:00.001-04:002009-10-30T10:44:13.165-04:00

YRC Worldwide Inc. reported another loss in the third quarter, but the struggling trucking company also extended a lending agreement to October 2010.Overland Park-based YRC lost $158.7 million, or $2.67 a share, on $1.3 billion in revenue. That was an improvement from the same period last year, when the company lost $720.9 million, or $12.58 a share. Quarterly revenue fell by more than $1 billion

1Teamsterhttp://www.blogger.com/profile/06021960632423401271noreply@blogger.com0tag:blogger.com,1999:blog-12454281.post-43089957887739630952009-10-30T09:38:00.002-04:002009-10-30T09:41:00.340-04:00

*YRC Regional and YRC Logistics Profitable*ABS Facility Renewed Early; Extended through October 2010*New Long-Term Bank Amendment Provides for Deferral of Interest and Fees*Update on Proposed Exchange OfferYRC Worldwide Inc. today reported its results for the third quarter and provided an update on its comprehensive plan. For the quarter, the company announced a loss per share of $2.67 that

1Teamsterhttp://www.blogger.com/profile/06021960632423401271noreply@blogger.com0tag:blogger.com,1999:blog-12454281.post-22697506570663925902009-10-30T08:16:00.001-04:002009-10-30T08:18:49.762-04:00

Cut-throat pricing in the trucking sector is being exacerbated by what appear to be efforts of some competitors to drive struggling YRC Worldwide Inc. out of business, an industry executive said Wednesday.David Congdon, chief executive of Old Dominion Freight Line Inc. cited the economic downturn and trucking overcapacity as culprits behind "the worst pricing environment we've ever experienced."

1Teamsterhttp://www.blogger.com/profile/06021960632423401271noreply@blogger.com0tag:blogger.com,1999:blog-12454281.post-22824189439456730052009-10-29T17:10:00.002-04:002009-10-29T17:12:13.105-04:00

YRC Worldwide Inc., one of the largest transportation service providers in the world, expresses strong support for legislation introduced this week in the United States Congress that will save large and small businesses and protect the jobs and pensions of hundreds of thousands of Americans.The Preserve Benefits and Jobs Act of 2009, sponsored by Rep. Earl Pomeroy (D-ND) and Rep. Pat Tiberi (R-OH

1Teamsterhttp://www.blogger.com/profile/06021960632423401271noreply@blogger.com0tag:blogger.com,1999:blog-12454281.post-17001047074635388662009-10-27T23:43:00.003-04:002009-10-27T23:50:51.344-04:00

Teamsters General President Jim Hoffa today said he is pleased that federal regulators agreed to reform the hours of service rule for truck drivers. The Federal Motor Carrier Safety Administration (FMCSA) signed an agreement with safety advocates and the Teamsters Union to revise the hours of service rule issued last November. The rule, a "midnight regulation" made final in the waning days of the

1Teamsterhttp://www.blogger.com/profile/06021960632423401271noreply@blogger.com0tag:blogger.com,1999:blog-12454281.post-51195123687613856462009-10-26T12:51:00.002-04:002009-10-26T12:56:06.719-04:00

YRC Worldwide shares surged Monday on a pickup in volume after reports the trucking giant landed a long-term financing agreement.YRC Worldwide shares jumped shortly before noon EDT after Briefing.com attributed the strength to reports of a long-term financing agreement that will alleviate the transportation company's liquidity needs. In recent months, the company has struggled while trying to

1Teamsterhttp://www.blogger.com/profile/06021960632423401271noreply@blogger.com0tag:blogger.com,1999:blog-12454281.post-61777189078807678152009-10-25T10:22:00.002-04:002009-10-25T10:26:45.449-04:00

YRC Worldwide Inc.’s sector of the trucking industry remains about 18 percent over capacity because carriers have not been going out of business as quickly as expected and are scrambling to get freight, analysts said.Overcapacity in the less-than-truckload (LTL) sector, which hauls consolidated small shipments, means fierce price competition and probably lackluster third-quarter earnings, St.

1Teamsterhttp://www.blogger.com/profile/06021960632423401271noreply@blogger.com0tag:blogger.com,1999:blog-12454281.post-8697336578707556562009-10-25T10:14:00.002-04:002009-10-25T10:21:22.585-04:00

Company introduces next-day transit times between Chicagoland and Springfield, Mo. service centersHolland, a subsidiary of YRC Worldwide Inc. announced today the availability of next-day delivery service to and from the greater Springfield, Mo., area and its Chicago, Joliet, Rockford and Wheeling, Ill. service centers. The transit time reductions provide customers with even more next-day delivery

1Teamsterhttp://www.blogger.com/profile/06021960632423401271noreply@blogger.com0