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YRC Worldwide Inc. is seeking to extend the Dec. 31 deadline for it to have a financial restructuring plan in place. The company says it and its partners need more time.

The Overland Park-based trucker (Nasdaq: YRCW) said Tuesday that it would need to have an agreement “in principle” by Feb. 28 and close the refinancing by May 13. The earlier schedule had the refinancing closing by March 31.

The International Brotherhood of Teamsters, whose members recently agreed to the earlier deadlines as well as extended wage cuts and pension deferrals, would need to approve the change, as would other participants in multi-employer pension plans to which YRC normally contributes.....................


YRC Worldwide wants to extend turnaround deadline | Kansas City Business Journal
 
I don't get why they don't just put a "YRC gets whatever it wants" clause in the MOU or whatever you call the contract. They break the rules and get whatever they want anyways? Voting takes money out of Hoffa's relelection fund.
 
truckinus said:
I don't get why they don't just put a "YRC gets whatever it wants" clause in the MOU or whatever you call the contract. They break the rules and get whatever they want anyways? Voting takes money out of Hoffa's relelection fund.[/Qyou are so right /it might just be some mods in the mou but just when you think things might start getting better they throw something else out ther to disract the employees /customers stockholders /and investers when will it end
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Remember, you kept working and can start looking to see what's out there. Someday, the banks and investors that are deferring debt payments are going to call in their markers....
 
hotrod69 said:
truckinus said:
I don't get why they don't just put a "YRC gets whatever it wants" clause in the MOU or whatever you call the contract. They break the rules and get whatever they want anyways? Voting takes money out of Hoffa's relelection fund.[/Qyou are so right /it might just be some mods in the mou but just when you think things might start getting better they throw something else out ther to disract the employees /customers stockholders /and investers when will it end
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It will end when they lock the gates , numbnuts. Until then , keep smiling !
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Will this require another vote to extend the timeframe? Or do the Union leaders have that authority? And what about the pension funds? I seem to remember the last letter from Central States saying the decision to accept the reduced payments come June could take some time. Why aren't some answers out there?
 
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just do what I ask y'all
 
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Well, IMO, the program that being pushed is nothing more than a legalized RFID Tag on the truck drivers.
 
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c. (YRCWA


The Overland Park-based trucking company said it received amendments on its credit agreement and asset-backed securitization program, extending deferrals on interest and fees though next May. The extension requires that YRC reach an agreement in principle to recapitalize its balance sheet by Feb. 28 and close that deal by May 13.
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cool-that and the pension payments due at the same time :2437:
 
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