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How YRC got the teamsters to the table

This was on The Motley Fool Friday, 12 Dec 2008.

The sun's always shining somewhere
Trucking company YRC Worldwide is struggling in the current climate, so it's seeking a distressed purchase of all of its publicly traded outstanding debt. Ratings agency Moody's (NYSE: MCO) suggests that move will be problematic, since YRC will then have to refinance it in a few years. Still, CAPS member teamsterjoe finds a lot to like in YRC's management:

Because the upper management at Yellow Freight is top notch. The number one concern at Yellow is the labor cost. They have asked for concessions from the Teamsters and the Teamsters have tentatively agreed but the membership will never agree to a direct pay cut. Although they may agree to an ESOP with a laid-off employee relief fund. Which means Yellow will have to do everything they can to get the price of their stock up just like they did to get the price of their stock down to get the Teamsters to the table. Yellow is one of the most under valued stock in the Fortune 500.... What people don't realize and what gets by investors is Yellow's business dealings with DHL and the fact that DHL left the United States and LTL business went to Yellow.... Yellow is a top notch company with a good track record.

This is why I voted no!
 
on Roadways site

4.51 (+0.27) Dec 17 2008 3:17PM



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Destination > Green



December 5, 2008

As part of our continuing efforts to provide you with enhanced services that exceed your expectations, I want to update you on the national integration of Yellow Transportation and Roadway.

The integration is progressing ahead of schedule, and includes:

The successful establishment of 60 shared service centers, with a goal of having 430 of these facilities fully operational by March 2009. This approach is moving us to the strongest, most reliable network in the industry. Compared to the individual Yellow and Roadway networks, our integrated network will feature more than 100 additional service centers, enabling the addition of approximately 21,000 direct service points.
Creation of a single service portfolio, combining the best of Yellow and Roadway, along with Reimer Express in Canada. With the ability to efficiently bring more capabilities together, we can provide easier access to comprehensive solutions, and faster introduction of new solutions and services. For example, Yellow access to Reimer expertise will allow us to offer expanded services throughout Canada.
An easier way to do business, with a single sales point of contact.
A simplified YRC pricing agreement, with a single contract, invoice, etc. We’ll contact you soon to discuss the change and benefits for your pricing arrangements.
Streamlined EDI interchange, with a common YRC EDI approach. This enhancement is planned for March 2009; we will provide detailed information before the new approach is implemented.
Expanded customer service, allowing for quicker answers to your questions and resolution of any issues.
YRC Worldwide is building on more than 80 years of success. We have the experience and the strength needed to weather this economic storm. Thank you for giving us the opportunity to serve you today, and tomorrow. We appreciate your business and will keep you informed as we progress with the integration and other enhancements to serve you. If you have any questions, please visit yrcw.com/integration or contact your Yellow account executive.

Sincerely,

Mike Smid
President and CEO
YRC North American Transportatio
 
YRC stock

I pray for all of the people at any level of this economy.There has been so much mismanagement at every level of work.High fuel has even made this whole ecomomy worsten to a level that will take years to recover. I want to wish everyone the best always no matter what happens down the road.Stay stong stay safe .
 
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