Teamsters Endorse YRCW Bank Amendment
|
| Posted
:
Mon, 02 Nov 2009 15:38:24 GMT |
| Author
:
International Brotherhood of Teamsters |
| Category
:
Press Release |
| News Alerts by
Email ( click
here ) |
|
|
|
|
WASHINGTON, Nov. 2 Teamsters-YRCW-yes
Company Makes Major Strides in Restructuring
WASHINGTON, Nov. 2 /PRNewswire-USNewswire/ -- The International Brotherhood of Teamsters today endorsed YRCW's (NASDAQ: YRCW) bank amendment as part of its continuing restructuring. The announcement follows the commitment and sacrifices that more than 35,000 YRCW Teamsters have made to ensure the company's survival.
The Union has worked with YRCW for the past year as it has struggled during the worst freight economy in generations. Today's announcement that YRCW has reached agreement with its lenders and has developed a road map to deal with its bond holders is welcomed progress.
"YRCW Teamster members did their part. The union has worked hard to make sure the other YRCW stakeholders recognized our members' sacrifices and responded in kind to do their part in ensuring YRCW's survival," said James P. Hoffa, Teamsters General President.
"YRCW's comprehensive restructuring would not have been possible without the support of our members, said Tyson Johnson, Director of the Teamsters Freight Division. "All YRCW Teamsters should recognize their leading role in the restructuring effort. Their perseverance should be commended."
"As we've said before, those companies in the industry that have been slashing prices - and the analysts that have been very anxious to write YRCW's obituary - need to recognize that today is a new day. The workers, pension funds, lenders, and bondholders have proven their ability to pull together to restructure this company - which can only lead to increased confidence among shippers," Johnson said.
Founded in 1903, the International Brotherhood of Teamsters represents 1.4 million hardworking men and women in the United States, Canada and Puerto Rico.
SOURCE International Brotherhood of Teamsters
|
Copyright © 2008
PR Newswire. All rights reserved.
|
|
|
|
|
Related
News
Ricardo Salinas Breaks Ground for What Will Be the Most Modern Television Studio in Latin America
MEXICO CITY, Nov. 23 -- TV Azteca, S.A. de C.V. (BMV: TVAZTCA; Latibex: XTZA), one of the two largest producers of Spanish-language television programming in the world, announced today the groundbreaking of the most modern dramatic television studio in Latin America, ...
Paramount Energy Trust Announces Enhanced Terms to the Proposed Amendments of Convertible Debentures and Moves Serial Meeting Date to December 7, 2009
- Coupon of 7.25%
- $7.50 conversion price
- Five year term
CALGARY, Nov. 23 - Paramount Energy Trust (TMX: PMT.UN) ("PET" or the "Trust") today announced that it has revised th...
NAPW, The National Association of Professional Women, Finds "Great Recession" Drives Professional Women To Seek Greater Skills Development
NAPW, The National Association of Professional Women, recently released the results of a membership poll of over 1,000 professional women across the country. The NAPW poll finds that professional women have a strong desire to connect with others, and are seeking greater skill development in t...
Operation HOPE Founder John Hope Bryant's Best Selling Book LOVE LEADERSHIP Now Released in Digital Audio Book Format LOS ANGELES -
Financial literacy nonprofit, Operation HOPE today announced that audio
book leaders Audi
Stull, Stull & Brody Announces Investigation on Behalf of Shareholders of Financial Federal Corporation NEW YORK -
Attorney Advertising. Notice is hereby given that Stull, Stull & Brody
has commenced an investigation on behalf of shareholders of Financial
Federal Corporation (“Financial Federal” or the “Company”) (NYSE: FIF)
for possible breaches of fiduciary duty a
Video: The Charmin(R) Restrooms Return to Times Square This Holiday Season to Help Consumers Really 'Enjoy The Go'
NEW YORK, Nov. 23 /PRNewswire/ -- Today, the Charmin Restrooms® returned to Times Square for the fourth consecutive year, giving tourists and local New Yorkers a free, clean and family friendly place to "enjoy the go." Television personality and author Mario Lopez...
Flowserve Declares Quarterly Cash Dividend of $0.27 Per Share DALLAS -
Flowserve Corp. (NYSE: FLS), a global leader in the fluid motion and
control industry, today announced that its Board of Directors has
authorized the payment of a quarterly cash dividend of $0.27 per share
on the company's outstanding shares of common stock. The dividend is
p
|
|
|
|
|
|
|
|
|