June 22, 2009: YRC Worldwide Inc. may get more leeway from its major union, which would provide more operating cash.
Representatives from freight locals of the International Brotherhood of Teamsters Union, which represents most YRC (Nasdaq: YRCW) workers, met last week in Chicago to talk about the company’s operating and financial condition, the Teamsters said in an update. Based on internal and independent financial analyses of the company, the representatives unanimously agreed to let a negotiating committee work on how to meet YRC’s need for more cash, the update said. Union members would have to vote on any proposed changes.
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