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Hoffa's YRC Board Appointee paid $250,000 per month

May 16, 2013
May 16, 2013: YRCW board member Harry Wilson is getting paid $250,000 per month, since February 2013, and may get a lot more. Wilson was appointed to the YRCW Board by the Teamsters Union leadership. We’ve all heard the expression "follow the money." This information is tucked away in a February YRCW filing with the Securities and Exchange Commission. The filing states that, "On February 20, 2013, we entered into an Advisory Agreement with MAEVA...

YRC confirms bid to buy Arkansas Best

May 10, 2013
Mark B. Solomon DC Velocity May 10, 2013 View the original piece Less-than-truckload (LTL) carrier YRC Worldwide Inc. said today it had made a preliminary proposal to acquire Arkansas Best Corp., a deal that ostensibly would include its unionized LTL division, ABF Freight System Inc.; its nonunion expedited transportation business; its truck brokerage operations; and other units. According to a source close to the situation, a preliminary offer of $18 per share was—and may still...

YRC "committed" to acquiring ABF

May 09, 2013
YRC Worldwide May 09, 2013 View the original piece YRC Worldwide Inc. (NASDAQ: YRCW) confirms that it had made a preliminary proposal to acquire Arkansas Best Corp.  In response, President and CEO Judy McReynolds stated that she had shared the proposal and discussed it with the company's board of directors but declined to enter into talks with YRCW because "timing was not right to consider such a transaction."  James Welch, chief executive officer of YRCW,...

YRCW attempted to buy ABF

May 09, 2013
Mark B. Solomon DC Velocity May 09, 2013 View the original piece Less-than-truckload carrier YRC Worldwide, Inc. approached Arkansas Best Corp., the parent of ABF Freight System, Inc., in late March with an interest in buying the Arkansas Best LTL unit, but was subsequently rebuffed, Arkansas Best said tonight. In a statement e-mailed to DC Velocity, Arkansas Best said YRC expressed an interest in "exploring an acquisition of ABF," which accounts for about 80 percent...

Senate Bill Would Extend Truck Size Limits to All Highways

May 08, 2013
JOC Staff The Journal of Commerce May 08, 2013 View the original piece U.S. Sen. Frank R. Lautenberg, D-N.J., today reintroduced legislation designed to keep bigger, heavier trucks off all highways. S. 876, the “Safe Highways and Infrastructure Preservation Act of 2013,” would apply existing federal truck size and weight limits — a maximum of length of 53 feet with a weight of 80,000 pounds — to the entire National Highway System. Currently, these restrictions...
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