Holland | YRC shows a 119 million dollar profit!

[bambam01]

As reported in the Cleveland Plain Dealer today, YRC has shown a 119 Million Dollar profit. Unfortunately the paper did not state for what period this profit is shown under. We don't know if it is for the 1st quarter or the 1st two months of this year??? Hoping somebody has more insight and can further educate us! Good work drivers,, of course they couldn't do it with out us! Wow must be that 15% working in their favor finally??? Oh wait maybe its that pension thing.... HMMM???
:o

 

[Jimmy]

YRC Worldwide Inc. swung to a fourth-quarter profit, although the number got help from a one-time gain tied to the company’s successful debt-for-equity swap, the company said in a regulatory filing late Tuesday.

The Overland Park-based trucking and logistics company (Nasdaq: YRCW) in a Securities and Exchange Commission filing reported earning $119.5 million, or $1.64 a share, during the three months ending Dec. 31. By comparison, the company lost $244.9 million, or $4.15 a share, during the same period a year before.

The fourth quarter results included a $193.9 million gain on debt redemption on the equity swap, which eliminated about a third of YRC’s debt from its books. The same period in 2008 included $200 million in impairment charges.

Revenue during the quarter declined by more than 40 percent to $1.15 billion, reflecting a 40 percent drop in daily shipments for YRC’s national division and a 20 percent decline in its regional division.

 

[moe1]

Ready for change

I don't understand why if Holland has so much freight then why don't they pull us out of this deal the teamsters made with YRC and let us call everybody back and get back to moving freight like we need to for the customer. And if I hear one more time that its because were a part of YRC well thats bull if that was true or valocity drivers would be city also . Now I want everybody to know that I am not taking a stab at linehaul here what I mean is that we at Holland operate different than YRC .The way I see it is if YRC can't function and Holland can give us back or 15% and pension and call the men back and lets move all this freight that is backing up so bad.