November 3, 2009: YRC Worldwide Inc. shocked its shareholders Monday by asking them to surrender 95 percent ownership of the embattled trucking company to its lenders as the “final step” in a recovery plan.
Investors drove down the Overland Park-based company’s share price by 64 percent, more than on any day since at least 1980, according to Bloomberg News. The stock fell $2.33 and closed at $1.32 a share.
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UPS CEO Carole Tomé’s Better, Not Bigger strategy is about cutting volume and Teamster jobs. South Carolina Local 509 has fought back and won new driver positions. Shop Stewards John Gacsey and Russell Sires share how the fight played out in their building in Palmetto.
President Shawn Fain led members of the United Autoworkers (UAW) to victory in the Stand Up strike against the Big Three automakers. Now, he’s facing trumped up allegations from a federal monitor who’s trying to tip the balance in the upcoming UAW election for International Union officers. Here’s what you need to know.
