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  1. #1
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    Default YRC Worldwide’s union concessions vote ends Thursday

    On Thursday, YRC Worldwide Inc. could get initial word about whether its union workers will agree to concessions that could save the trucking company at least $45 million a month.

    Ballots are due Thursday, and observers predict that most already have been submitted. In a July 30 conference call, YRC executives expressed confidence in a positive outcome. Chairman and CEO Bill Zollars called it a “game-changing event” for YRC (Nasdaq: YRCW).

    The concessions include forfeiting 18 months of pension payments — which would not have to be repaid — and taking an extra 5 percent wage cut. YRC offered considerations such as options for an additional 20 percent stake in the company. In January, workers approved a 10 percent wage cut and were offered a 15 percent stake.
    YRC Worldwide’s union concessions vote ends Thursday - Kansas City Business Journal:

  2. #2
    I Am Rocking Now

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    Default Re: YRC Worldwide’s union concessions vote ends Thursday

    If you follow the track record of this newspaper,they are worse then the weathermen

 

 

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