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Yellow | YRC Worldwide Reports Key Stakeholder Support of Comprehensive Plan Jan 1 2011

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Teamsters Extend Timeline for Recapitalization of YRCW Balance Sheet

- Multi-Employer Pension Funds Extend CDA Deferral through May 2011

OVERLAND PARK, Kan., Jan. 1, 2011 /PRNewswire/ -- YRC Worldwide Inc. (Nasdaq: YRCW) today announced the Teamster negotiating committee for the International Brotherhood of Teamsters has agreed to provide additional time for the company and its key stakeholders to finalize plans to recapitalize the company's balance sheet. The extension of time provided by the Teamsters is consistent with the extensions in the previously announced amendments to the company's credit agreement and asset-backed securitization facility, which are now effective. Also consistent with the credit facility amendments, a supermajority of the multi-employer pension funds who are party to the company's contribution deferral agreement ('CDA') have agreed to an extension of the deferral of interest and principal payments under that agreement through May 2011. Further details regarding the extensions, including the conditions to their continued effectiveness, can be found in the current report Form 8-K to be filed on Monday, January 3, 2011, with the Securities and Exchange Commission................

YRC Worldwide Reports Key Stakeholder Support of Comprehensive Plan -- OVERLAND PARK, Kan., Jan. 1, 2011 /PRNewswire/ --
 
In my opinion, this isn't even a new story. It's not like the Union was going to stand up and fight against or stonewall an issue that the members unanimously voted for.

I know.....You're just reporting the article.:1036316054:
 
This I think is the breaking news - Multi-Employer Pension Funds Extend CDA Deferral through May 2011 from the above article . Other than that same old same old .....
 
I think Spaghetti is right. Patience is the key.I would find it hard to believetthat they would have been granted yet another extension without some proof that things are moving along as planned in the restructuring. This is all we have right now, so we have no choice but to be patient and hope they work things for the futures of 30,000 or so employees.I agree that it not the most pleasant place to be right now but I stopped killing myself with worry a while ago. It is what it is and the big shots have to work it out.
 
usfwife said:
I think Spaghetti is right. Patience is the key.I would find it hard to believetthat they would have been granted yet another extension without some proof that things are moving along as planned in the restructuring. This is all we have right now, so we have no choice but to be patient and hope they work things for the futures of 30,000 or so employees.I agree that it not the most pleasant place to be right now but I stopped killing myself with worry a while ago. It is what it is and the big shots have to work it out.
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future, come on, there is no future here,and there has not been for a long time. patience seriously? their excuses are like the plague, they never get any better.they have railroaded us for the last 2 years and ruined our future of ever getting out of here with a teamster pension. the only restructuring that is going on here is the lining of there pockets the past 18 months. face it, this company is flat broke and never gonna get out of the hole they put themselves in. everything they own is junk and will continue to get worse now that the banks want there money.(not like they would spend anything on equiptment anyway). our holland trucks are the worst looking pile of junk on the road, and operate the same way. i have been at holland 20 years and i cant believe we are still here. they have raked everyone over the coals including their customers that 70% of them have been gone for a long time due to there business practices. we went from the number 1 regional carrier to dead last, and it shows everyday we are still around. these are the facts here. it will not change.
 
team486 said:
future, come on, there is no future here,and there has not been for a long time. patience seriously? their excuses are like the plague, they never get any better.they have railroaded us for the last 2 years and ruined our future of ever getting out of here with a teamster pension. the only restructuring that is going on here is the lining of there pockets the past 18 months. face it, this company is flat broke and never gonna get out of the hole they put themselves in. everything they own is junk and will continue to get worse now that the banks want there money.(not like they would spend anything on equiptment anyway). our holland trucks are the worst looking pile of junk on the road, and operate the same way. i have been at holland 20 years and i cant believe we are still here. they have raked everyone over the coals including their customers that 70% of them have been gone for a long time due to there business practices. we went from the number 1 regional carrier to dead last, and it shows everyday we are still around. these are the facts here. it will not change.
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also forgot to add, that 3 rounds of consessions for them and they continue to screw us everyday by violating any and all contracts mous or whatever we have any more on a daily basis and laugh about it because any money grievances just sit around and never get paid.
 
team486 said:
also forgot to add, that 3 rounds of consessions for them and they continue to screw us everyday by violating any and all contracts mous or whatever we have any more on a daily basis and laugh about it because any money grievances just sit around and never get paid.
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Bwaaa waaaaaaaaaaa waaaaaaaa ! Poor
little baby !
 
Fr8holler said:
Bwaaa waaaaaaaaaaa waaaaaaaa ! Poor
little baby !
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Going out on a limb here, but i would guess that Fr8holler is retired and could care less about work rule changes,or the abuse of the work rule changes or the mou's or the grievnces not being heard. If i'm wrong then let me know, if he is still employed than he has not been subject to the abuse , ask the guys from 178 terminal ( formerly the 120 terminal, Tannersville Pa.) According to those workers, the company is abusing every work rule they can and giggling their As$es's off, telling the workers to "go ahead and file " ha ha ha ha !!!! The Teamsters have been de-nutted and there is not much recourse for the working man.
 
You need to read my whole post. I agree they have ruined the Holland reputation but most of the guys still working are still good guys. That doesn't change the job they have to do everyday, they continue to do it to the best of their personal ability. I said this is all we have right now is hope. Yes we have been railroaded;but keep hating and you're gonna give yourself a heart attack. Life is nothing without HOPE and if things don't work out then we move on. Or you can move on now. Geez I get so tired of the bashing on this board.

team486 said:
future, come on, there is no future here,and there has not been for a long time. patience seriously? their excuses are like the plague, they never get any better.they have railroaded us for the last 2 years and ruined our future of ever getting out of here with a teamster pension. the only restructuring that is going on here is the lining of there pockets the past 18 months. face it, this company is flat broke and never gonna get out of the hole they put themselves in. everything they own is junk and will continue to get worse now that the banks want there money.(not like they would spend anything on equiptment anyway). our holland trucks are the worst looking pile of junk on the road, and operate the same way. i have been at holland 20 years and i cant believe we are still here. they have raked everyone over the coals including their customers that 70% of them have been gone for a long time due to there business practices. we went from the number 1 regional carrier to dead last, and it shows everyday we are still around. these are the facts here. it will not change.
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The irony of these posts are that 1 year ago today.....many were praising the IBT for getting the investors to turn their bonds in to new stock....THAT ALONE... kept this company from going under last year.....we have made it through another year, and this move today might just get them through June 2011.....then things should be set to turn around.....hopefully.....heres to a better year in 2011!......kk
 
Kennesaw Kid said:
The irony of these posts are that 1 year ago today.....many were praising the IBT for getting the investors to turn their bonds in to new stock....THAT ALONE... kept this company from going under last year.....we have made it through another year, and this move today might just get them through June 2011.....then things should be set to turn around.....hopefully.....heres to a better year in 2011!......kk
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You are a wise Man K.K. I always appreciate your comments. May everyone have a good 2011 and not just where YRC is concerned.
 
usfwife said:
I think Spaghetti is right. Patience is the key.I would find it hard to believetthat they would have been granted yet another extension without some proof that things are moving along as planned in the restructuring. This is all we have right now, so we have no choice but to be patient and hope they work things for the futures of 30,000 or so employees.I agree that it not the most pleasant place to be right now but I stopped killing myself with worry a while ago. It is what it is and the big shots have to work it out.
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Gee ,I wonder what set of books they showed them this time??
 
usfwife said:
You need to read my whole post. I agree they have ruined the Holland reputation but most of the guys still working are still good guys. That doesn't change the job they have to do everyday, they continue to do it to the best of their personal ability. I said this is all we have right now is hope. Yes we have been railroaded;but keep hating and you're gonna give yourself a heart attack. Life is nothing without HOPE and if things don't work out then we move on. Or you can move on now. Geez I get so tired of the bashing on this board.
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im not bashing you, im bashing the company, like many of you for some reason are afraid of doing so. i see these guys every day scared to death of this company. dont you see it,or do you even work here? i have moved on with a total change in attitude and work ethic i might add. and i have hope also that you say i should have, and that hope is this company gets what it deserves. they have screwed over everyone long enough.
 
Kennesaw Kid said:
The irony of these posts are that 1 year ago today.....many were praising the IBT for getting the investors to turn their bonds in to new stock....THAT ALONE... kept this company from going under last year.....we have made it through another year, and this move today might just get them through June 2011.....then things should be set to turn around.....hopefully.....heres to a better year in 2011!......kk
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we were praising them, but as usual all promises by the company were broken again a short time later,and more of what our brothers fought and died for were thrown out the window with the stroke of a pen. hope you have a new year as well kk.
 
usfwife said:
You need to read my whole post. I agree they have ruined the Holland reputation but most of the guys still working are still good guys. That doesn't change the job they have to do everyday, they continue to do it to the best of their personal ability. I said this is all we have right now is hope. Yes we have been railroaded;but keep hating and you're gonna give yourself a heart attack. Life is nothing without HOPE and if things don't work out then we move on. Or you can move on now. Geez I get so tired of the bashing on this board.
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They still have hope,they just wont admit to it,otherwise the miserable refugees would count their losses and move on.
 
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