December 21, 2009: Trucking giant YRC has closed its Chicago Ridge terminal and sold the property, according to the International Brotherhood of Teamsters, which is locked in a dispute with the company over additional salary concessions. The parent of Roadway, USF and Yellow Transportation, YRC has parceled out work to other Yellow and Roadway terminals in the Chicago area, including Chicago Heights, according to the union. Click here to read the full article in the...

December 17, 2009: International Brotherhood of Teamsters President James Hoffa said Goldman Sachs Group Inc. is creating derivatives trades that would profit from the bankruptcy of YRC Worldwide Inc., the trucking company trying to avert failure with a debt exchange. The most profitable securities firm in Wall Street history “is actively soliciting bond trades for clients and underwriting credit-default swaps to benefit from a failed exchange and resulting bankruptcy,” Hoffa, the union leader, wrote in...

December 16, 2009: U.S. trucking giant YRC Worldwide (YRCW.O) still has not been able to secure a critical debt-for-equity exchange with bondholders, but is extending the deadline for bondholder approval of the exchange as it works with lenders to keep the company liquid. Investors responded to news of the extension by pushing shares up more than 20 percent on Wednesday, heartened in part by the extent of the company's restructuring efforts and the apparent willingness...