By MARK DAVIS
The Kansas City Star

YRC Worldwide Inc. shocked its shareholders Monday by asking them to surrender 95 percent ownership of the embattled trucking company to its lenders as the “final step” in a recovery plan.

Investors drove down the Overland Park-based company’s share price by 64 percent, more than on any day since at least 1980, according to Bloomberg News. The stock fell $2.33 and closed at $1.32 a share.

Analysts said shareholders may have little choice but to give up significant control as YRC...

YRC is seeking big concession by shareholders - KansasCity.com

Getting 5 cents on the dollars. Wouldn't it be better to lose it all in a bankruptcy and write it off on your taxes as a total LOSS???

Call your accountant and ask him!!!!!!!

A friend of mine that used to have a Financial Advisement practice made that same statement today!!

I read somewhere that if they don't get shareholder approval they can do a workaround by becoming a wholly owned subsidiary, whatever that means. So they have a contingency plan in case the shareholders don't cooperate.

Let's see15% ownership with the first giveback20% with the second giveback for a total of 35% ownership of YRC..I do believe that is what was voted on..So now if my figures are correct,we, the working fools at YRC now have have 35% of 5% and it seems that this was the plan all along.Where is Jimmy and Tyson on this??? Once again we,the working fools have taken it up the pooper again....

I could be wrong, but, We never had any ownership, we never owned actual shares, We only had the option to purchase shares at a given date for a specific price.
But I do agree with you, Just another screwing by YRC and the IBT for us