It's been three weeks now since YRC Worldwide (NASDAQ: YRCW ) CEO James Welch made his case (link opens a PDF) for why YRC workers should approve a new union contract. Three weeks since YRC's boss warned his workers that "lenders will not refinance our debt unless we have a 5-year labor agreement" in place. He also said that without refinancing, the company cannot satisfy all of the $1 billion in debt payments coming due in the next 17 months. Welch stated, "Refinancing typically takes approximately 90 days to complete and it must be completed before the first of our debt repayments becomes due -- so we must start the refinancing process by November 15."

And yet, 11 days past that deadline, what progress has YRC made? Nada. Nothing. Zilch. No agreement.
3 Roads Left for YRC Worldwide, Inc. and Each Looks Dangerous (YRCW)