YRC Worldwide Wins New Financing Extension

They keep pulling the rabbit out of the hat

 

YRC is toast. LTL is taking a beating because TL carriers are doing more multi-stop loads now to max out their loads and old school companies like YRC cannot compete based on their cost structure. Sure, the teamsters can do more givebacks, but the race to the bottom was over a long time ago, and they've not got it done on their balance sheet. When one of their biggest competitors, FedEx, decided to merge their TL and LTL businesses, because it was too expensive to run them as seperate divisions, it doesn't look good for YRC. The big winner in this shakeout will be Old Dominion, because they held the line on their rates, despite the short term losses they suffered because the 3PL's wouldn't pay those prices. Smart strategy in a tight market, but there's more to come. YRC will likely merge into a 'remainder company' with other struggling carriers, but might lose it's union as a consequence. Sad to see, but it's what the future holds.

 

The latest bad new's.

http://www.bizjournals.com/mobile/kansascity/news/2011/03/15/yrc-worldwide-misses-restructuring.html

 

I dont know, they sure look busy in my neck of the woods.

 

CF was busy til the Folded Arrow was Busy till they Collasped. Just because you have freight on your Trailers does not mean your making MONEY.