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Harry Wilson Bags $5.5 Million in Re-Fi Deal

February 11, 2014
February 11, 2014: Recent YRCW SEC filings reveal a payment of $5.5 million to MAEVA Group. See Item 16 in the link for the SEC filings. MAEVA is Harry Wilson’s company. Wilson, you may recall, is the Hoffa appointed trustee to the YRC Board. His firm aided YRC in getting the new refinance terms from the banks. So while working Teamsters at YRC,  Holland and New Penn entered 2014 giving up even more concessions in...

YRC Completes $300 Million Refinancing

February 03, 2014
Rip Watson Transport Topics February 03, 2014 View the original piece YRC Worldwide Inc. said it has moved forward in the refinancing of its debt by completing a multi-step transaction worth about $300 million. A total of $250 million of common and preferred stock was issued to retire convertible notes that were outstanding. In addition, the company late in Jan. 31 said $50 million in convertible notes were exchanged or converted into stock. In addition,...

HOS Study Proves Benefits of New Restart Restrictions, FMCSA Says

January 30, 2014
Eric Miller Transport Topics January 30, 2014 View the original piece A new study found that the restart provision in the Federal Motor Carrier Safety Administration‘s current hours-of-service rule is more effective at combating fatigue than the prior hours rule, the agency said. The “real world, third-party” study, mandated by the MAP-21 transportation law, provided scientific evidence that the restart provision helps “truckers stay well-rested, alert and focused on the road,” Transportation Secretary Anthony Foxx...

YRCW Teamsters Take Aim at 2016

January 27, 2014
January 27, 2014: The voting results are in and the YRC concessions will be extended through 2019. Join YRC Teamsters who are taking aim at 2016 and the chance to vote out the Hoffa administration and take back our union.  Teamster members approved the YRCW “Plan B” contract extension by a vote of 12,267 to 6,314 in local union voting over the weekend. Hoffa and Hall immediately hailed it as “saving 30,000 jobs.” The vote...

Teamsters Approve Revised Contract with YRC Worldwide

January 27, 2014
Mark Davis Kansas City Star January 27, 2014 View the original piece Teamsters workers on Sunday approved a revised contract offer from Overland Park-based YRC Worldwide Inc. with 66 percent of the vote, an outcome both sides called critical to the struggling freight hauler’s future. The weekend vote at union balloting sites ran 12,267 in favor to 6,314 against. Passage followed a monthlong mail-in vote on an earlier offer that 61 percent had rejected. “This...
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