Hoffa’s Concessions Tycoon

harry-wilson-concessions-tycoon_thumb.jpg

Over 25,000 freight Teamsters at YRC suffered wage and pension cuts since 2009, but their loss delivered big gains for one Hoffa appointee. Harry Wilson, a hedge fund tycoon appointed by Hoffa to the YRCW board, was paid a $5 million bonus when employees approved the concessions and a bank deal was consummated. YRCW paid Wilson $125,000 a month retainer and a $1.5 million bonus for his work on the company’s restructuring and concessions package—plus a $175,000 a year salary as Hoffa’s appointee to YRCW’s board. The $5 million concession bonus was icing on the cake.

CHECK THE FACTS: "YRC refinances $1.15 billion by closing on two 5-year loans", DC Velocity February 14, 2014. See also SEC filing by YRC, February 7, 2014.

back-arrow.png next-arrow.png 

Get Advice Join TDU Donate

Recent News

Albany Local 294 President Faces Charges

The Teamsters Independent Investigations Officer, Judge Timothy Hillman, has recommended that charges be filed against Albany Local 294 President Thomas Quackenbush for illegally converting union funds into thousands of dollars in gifts for its retiring principal officer.

How to Make UPS Do Something About Filthy Fans

Our contract campaign at UPS forced the company to install 18,000 new fans inside of buildings. Many of those fans are filthy and just spew dust and dirt around. We can make UPS address the problem by taking union action. Here’s how.

View More News Posts