International Business News - YRC http://www.ibtimes.com All articles are copyrighted by IBTimes.com 400 100 http://www.ibtimes.com/ http://www.ibtimes.com/images/top_logo_ibt2_3.gif The chief executive of the country's largest trucking company by revenue said Thursday he expects a proposed union wage reduction and other planned cost savings to be "more than enough to ride out the economic downturn." http://www.ibtimes.com/articles/20081204/ceo-says-pay-and-cost-cuts-will-keep-yrc-going.htm Thu, 04 Dec 2008 18:15:56 EST Teamsters leaders voted Wednesday for union workers at trucking company YRC Worldwide Inc. to take an immediate 10 percent pay cut to hold up the company's dwindling finances. http://www.ibtimes.com/articles/20081203/yrc-union-reach-tentative-deal-for-wage-cut.htm Wed, 03 Dec 2008 19:36:57 EST YRC Worldwide Inc. and the Teamsters on Friday announced a deal that the union said would provide "economic relief" to YRC, one of the world's largest trucking companies, which has been struggling with a dropoff in demand as the economy slows. http://www.ibtimes.com/articles/20081128/trucking-company-yrc-makes-deal-with-teamsters.htm Fri, 28 Nov 2008 17:28:24 EST Shares of trucking company YRC Worldwide Inc. soared Tuesday after the company said it would pay off some of its debt through a tender offer and an analyst upgraded the stock. http://www.ibtimes.com/articles/20081125/yrc-worldwide-leaps-on-debt-payment-plan-upgrade.htm Tue, 25 Nov 2008 11:34:37 EST Trucking company YRC Worldwide Inc. said Thursday that ratings downgrades will require the company to collateralize its real estate and revenue equipment, which it valued at $1.5 billion. http://www.ibtimes.com/articles/20081120/yrc-says-downgrade-forces-collateralization-moves.htm Thu, 20 Nov 2008 10:51:48 EST Moody's Investors Service lowered its ratings for trucking company YRC Worldwide Inc. on Wednesday, citing structural weaknesses in the Overland Park, Kan., company. http://www.ibtimes.com/articles/20081112/moodys-downgrades-yrc-worldwide-ratings.htm Wed, 12 Nov 2008 13:18:19 EST YRC Worldwide says it will cut 6 percent of its work force in a cost-reduction move. It's part of an accelerated plan to integrate the company's Roadway and Yellow Transportation units. http://www.ibtimes.com/articles/20081029/yrc-worldwide-to-cut-15-percent-of-work-force.htm Wed, 29 Oct 2008 16:56:33 EDT A Credit Suisse analyst on Monday slashed his fourth quarter and 2009 earnings forecast for trucking company YRC Worldwide Inc., citing the expected impacts of its consolidation plans and a further slowing of freight demand. http://www.ibtimes.com/articles/20081027/analyst-slashes-earnings-forecast-on-yrc-worldwide.htm Mon, 27 Oct 2008 15:54:16 EDT Among the earnings projection stories for Friday, Oct. 24, from AP Financial News: NEW YORK (AP)--The nation's largest trucking company, YRC Worldwide Inc., said Friday it is taking steps to pay down debt and preserve liquidity as pricing competition is increasing and demand is slowing in the fourth quarter. http://www.ibtimes.com/articles/20081024/outlook-roundup-yrc-worldwide-fortune-brands.htm Fri, 24 Oct 2008 18:32:44 EDT Standard & Poor's Ratings Services on Friday said it may downgrade YRC Worldwide Inc.'s credit rating on concerns the weak domestic economy will hurt the trucking company's earnings. http://www.ibtimes.com/articles/20081024/s-p-eyes-yrc-ratings-for-possible-downgrade.htm Fri, 24 Oct 2008 17:25:04 EDT The nation's largest trucking company said Friday it is taking steps to pay down debt and preserve liquidity as pricing competition is increasing and demand is slowing in the fourth quarter. http://www.ibtimes.com/articles/20081024/yrc-worldwide-to-pay-off-debt-preserve-liquidity.htm Fri, 24 Oct 2008 17:07:25 EDT Investors will be focused on shares of YRC Worldwide Inc. on Friday, a day after the less-than-truckload carrier reported a drop in third-quarter profit and forecast weakening economic conditions in the final quarter of this year. http://www.ibtimes.com/articles/20081024/ahead-of-the-bell-yrc-worldwide.htm Fri, 24 Oct 2008 09:11:30 EDT YRC Worldwide Inc., one of the nation's largest trucking companies, on Thursday reported narrower third-quarter profits as the economic slowdown diminished the number of shipments. http://www.ibtimes.com/articles/20081023/yrc-worldwide-reports-3q-loss.htm Thu, 23 Oct 2008 17:46:02 EDT YRC Worldwide Inc., one of the nation's largest trucking companies, said Friday it issued 1.7 million shares of its common stock in exchange for about $13.2 million in convertible senior notes due 2023. http://www.ibtimes.com/articles/20081017/yrc-issues-1-7-million-shares-to-pay-down-debt.htm Fri, 17 Oct 2008 10:02:46 EDT Fitch Ratings downgraded the issuer default rating of YRC Worldwide Inc. further into junk status Tuesday, citing the potential for continued slumping demand in the less-than-truckload industry and increased near-term credit risk. http://www.ibtimes.com/articles/20081014/fitch-downgrades-yrc-worldwide-shares-sink.htm Tue, 14 Oct 2008 11:15:28 EDT YRC Worldwide Inc., one of the country's largest trucking companies, said Wednesday it might take a writedown on the value of three of its business units because of its slipping market capitalization and weak economic conditions. http://www.ibtimes.com/articles/20081008/yrc-worldwide-may-take-writedown-on-3-units.htm Wed, 08 Oct 2008 09:55:00 EDT YRC Worldwide Inc., a transportation service provider, said Tuesday it expects to remain in compliance with the terms of its lending agreement. The company also said it expects free cash flow in both the third and fourth quarters of 2008 and plans to have "significant" debt reduction for the year. http://www.ibtimes.com/articles/20081007/yrc-worldwide-says-it-will-meet-lending-terms.htm Tue, 07 Oct 2008 16:56:00 EDT YRC Worldwide Inc., one of the nation's largest trucking companies, said Friday that it drew on a credit line to repay some debt that matures this year and in 2009. http://www.ibtimes.com/articles/20081003/yrc-worldwide-draws-on-credit-line-to-repay-notes.htm Fri, 03 Oct 2008 10:06:48 EDT The head of YRC Worldwide Inc., one of the nation's largest trucking companies, said Tuesday he expects the number of customer bankruptcies to rise if the ongoing crisis in the U.S. financial markets continues, but said YRC has enough liquidity to ride out the storm. http://www.ibtimes.com/articles/20080923/yrc-worldwide-ceo-company-credit-in-good-shape.htm Tue, 23 Sep 2008 15:59:15 EDT YRC Worldwide Inc., one of the nation's largest trucking companies, on Monday said it expects to post a third-quarter loss from core operations as further economic weakness drags down volumes and prices. http://www.ibtimes.com/articles/20080908/yrc-expects-3q-loss-on-slow-economy-1-time-costs.htm Mon, 08 Sep 2008 16:40:37 EDT