imported_Elwood
TB Lurker
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Here is a post from yahoo finacials from some guy in Hawaii
3/15/2010
Without financing for outstanding bonds by mid March YRCW will collapse. Chapter 11 bankruptcy will take place about a week before the debt is due, the reason for this is to protect (ironic as it is) senior managements severance payments that are not considered wages or salary. They are on the edge now and without a large amount of cash thrown their way its all the way to the bottom.
I forgot to copy the date from his post
IDK why they moved this to "rumors." It is true that there is a large bond payment due on 3/15. It is also true that the tax refund, operating cash, and revolver reserve cannot be used to pay the bonds.