July 12, 2011: YRC Worldwide is one step away from completing its financial restructuring by a July 22 deadline, a key official at the $4.4 billion trucking company said Monday.
The company secured a $400 million asset-based loan facility from its lenders, and now must raise $100 million through the sale of convertible securities to its lenders.
Click here to read more at The Journal of Commerce.
The Teamsters joined the United Autoworkers (UAW) and five other international unions representing members at the largest U.S. defense contracts in a letter calling on Congress to ban defense contractors from funneling money to Wall Street investors through stock buybacks and dividends instead of investing in jobs and infrastructure.
Amazon drivers at the company’s DBK1 facility in New York City marched on the boss to demand union recognition and better pay, healthcare, and job security.
