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YRC Worldwide union relations follow winding road

November 02, 2010
November 2, 2010: YRC Worldwide Inc. has won a third round of concessions from its union employees in the ongoing saga of its attempts at a financial turnaround. Now, competitor ABF Freight System Inc. is suing, saying the concessions violate a labor agreement affecting drivers and dockworkers nationwide. ABF wants the concessions, some of which started last year, to be declared null and void, and also wants $750 million in damages. Defendants include Teamsters groups...

ABF Files Suit vs YRC, Teamsters

November 01, 2010
November 1, 2010: ABF Freight System, Inc. (ABF), the largest subsidiary of Arkansas Best Corporation (Nasdaq: ABFS) and a leading less-than-truckload transportation company, has filed legal actions today against the International Brotherhood of Teamsters (IBT) and other parties including several YRC Worldwide subsidiaries (Nasdaq: YRCW) for violation of the National Master Freight Agreement (NMFA), the collective bargaining agreement covering most unionized trucking employees in the country. ABF today filed a grievance under the NMFA and...

YRCW Members Approve Concessions

October 30, 2010
October 30, 2010: With the gun of a threatened shutdown aimed at their heads, YRCW Teamsters have approved new concessions and a contract extension until 2015 by a 62% margin at YRC and Holland and by 69% at New Penn. The concessions will now go into effect immediately. On June 1, 2011, members will start receiving a $1.75 per hour pension contribution. Each pension fund has to determine what this employer contribution will buy for...

YRC Worldwide lenders extend deadline ahead of union vote result

October 27, 2010
October 27, 2010: YRC Worldwide Inc. will have some breathing room with its lenders, even if the tentative concessions agreement with its union fails to pass later this week. In a securities filing Tuesday, the Overland Park-based trucking company (Nasdaq: YRCWD) said the recent renewal of a key piece of financing won’t expire immediately if the International Brotherhood of Teamsters votes down a third round of wage and benefit concessions. Click here to read more...

U.S. set first fuel standards for big trucks

October 25, 2010
October 25, 2010: The Obama administration on Monday proposed the first ever fuel efficiency and emissions standards for big tractor trailers and other commercial trucks. The joint Transportation Department and Environmental Protection Agency initiative covers a range of vehicles from delivery vans to long-haul rigs, and is expected to cut nearly 250 million tonnes of greenhouse gas emissions over the lifespans of vehicles produced within the program's first five years. Click here to read more...
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