YRC Worldwide Inc. doesn’t want a federal bailout — it’s seeking a solution for the troubles faced by multi-employer pension plans, the trucking company’s chief executive said.

YRC is comprised of Yellow Transportation and Roadway Express Inc., the two largest less-than-truckload carriers in Memphis, employing more than 1,700 here.

Last month, The Wall Street Journal reported that Overland Park, Kan.-based YRC (Nasdaq: YRCW) planned to seek $1 billion in Troubled Asset Relief Program funds — typically used for banks — to help with its pension obligations. But chairman and CEO Bill Zollars, in a video posted on a YRC Web site, said the company’s main interest is pension reform with the federal government’s help.

“We’re not asking for a bailout. We don’t want any money from the federal government,” Zollars said. “What we would like to do is be more competitive in the marketplace and get rid of some of the costs that really don’t relate to how well we’re doing our business
YRC seeks multi-employer pension relief - Memphis Business Journal: