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Neither materialized, and the "peak" was one of the flattest on record. The credit markets went belly up in September and the economy went into free-fall mode, dragging with it YRC Worldwide, the nation's largest trucking company.
"I've described (the economy) as death by 1,000 cuts, and it has been progressively weakening over the last 10 to 11 months, which makes it tough," said YRC Chairman, President and CEO William D. Zollars.
Shippers, competitors and Wall Street have kept the nation's largest trucking company under an electron microscope all year as it struggled to remain profitable while integrating operations and reducing debt. YRC hopes a recent company-wide wage and salary cut will allow it to gain traction long enough to see freight demand bounce back.
"It's hard to know when we're going to see some relief. My personal feeling is it will be in the second half of 2009," said Zollars.
To make it to that point, YRC and the rest of the trucking industry will have to sweat through the pummeling its customers in the retail and industrial markets will take in what will likely be a blistering first quarter.
Full Article: Traffic World OnLine - Trucking
"I've described (the economy) as death by 1,000 cuts, and it has been progressively weakening over the last 10 to 11 months, which makes it tough," said YRC Chairman, President and CEO William D. Zollars.
Shippers, competitors and Wall Street have kept the nation's largest trucking company under an electron microscope all year as it struggled to remain profitable while integrating operations and reducing debt. YRC hopes a recent company-wide wage and salary cut will allow it to gain traction long enough to see freight demand bounce back.
"It's hard to know when we're going to see some relief. My personal feeling is it will be in the second half of 2009," said Zollars.
To make it to that point, YRC and the rest of the trucking industry will have to sweat through the pummeling its customers in the retail and industrial markets will take in what will likely be a blistering first quarter.
Full Article: Traffic World OnLine - Trucking