Yellow | New Penn parent seeks pension cuts

[Jay C]

Teamsters for a Democratic Union, based in Detroit, reported on its website, www.tdu.org, that the Teamsters and YRC Worldwide Inc., New Penn's parent, are negotiating for YRCW to re-enter a pension payment schedule.

A concession agreement approved a year ago requires management to resume full participation in pension plans on Jan. 1.

YRCW is asking the Teamsters to approve a lower contribution rate because it is scheduled to increase to more than $8 an hour in August, TDU said. That increase would add about $40 million a month to YRCW's pension contributions.

http://www.google.com/url?sa=t&...Cw&usg=AFQjCNHixX0lHxpkEfGyEDLyWngUD0H4wQ

http://www.tdu.org/node/3950

 

[turboj]

Joe, will you stop mess-in with these guys minds!!! You, I and a few others know they're just blowing smoke up the pos union's a$$ to buy time before the bankruptcy. 23 cents a share shows the market and investors have zero confidence in the pos company.

 

[Jay C]

[quote author=TurboJ link=topic=80949.msg836266#msg836266 date=1276131132]
Joe, will you stop mess-in with these guys minds!!! You, I and a few others know they're just blowing smoke up the pos union's a$$ to buy time before the bankruptcy. 23 cents a share shows the market and investors have zero confidence in the pos company.
[/quote]

You're 100% correct about the no confidence. About 97,000,000 YRC shares are shorted
most investors are

don't bet on it