Kansascity.com ran an article that has put YRC worldwide into the news. This time for a change the story may be something positive.
YRC representatives are saying that they have been able to negotiate extensions with there creditors. “The company will be open for business as usual on Monday,” said YRC spokeswoman Suzanne Dawson.
This is good news for the employees of the company here is that are going to be able to keep their jobs. Teamsters have argued that any bankruptcy for YRC could leave up to 30,000 people without jobs.
YRC also has said its lenders have extended certain key terms of its credit agreement to Jan. 11. This will keep their plans of a debt exchange on course keeping the company in business.
We will keep up on this issue because of the ripple effect that would take place if YRC were to fail. The original KansasCity.com article by Randolph Heaster can be found: http://www.kansascity.com/194/story/1657676.html?storylink=omni_popular
Tags: YRC
That’s a bunch of nonsense (Creditors), we all know that with the Democrats in charge and TARP in full swimg that union companies are pretty safe. Non union trucking companies can not wait for them to go under. I worked for F***X for 4 yrs and everyone there was preying for them to shut the doors.
So much for humanity, I hope all those YRC employees keep or find new jobs.