YRC Worldwide (YRCW) On the Brink Of Bankruptcy?
YRC Worldwide (symbol: YRCW) has again extended the cutoff date for debt holders to agree to a debt for equity exchange that is needed to keep the company alive.
The debt for equity exchange was supposed to end last night at midnight. This morning the company announced they will extend it by another 24 
hours, now set to expire at 11:59pm tonight. This would be the 5th time that YRC Worldwide has extended the debt for equity offer, and gauging by the number of times they have extended the cutoff date it suggests that they are still having problems convincing enough debt holders to take the deal.
It is my opinion that YRC Worldwide is just putting off the inevitable, which is the company having to file for bankruptcy. Unless there is a last minute deal to sweeten the pot for debt holders, it seems all the more likely that YRC Worldwide will be Chapter 11 in the near future.
Great day in America when our government will take our tax dollars to bail out the banks and the banks use our money to buy our bonds and hold them to make us lose our jobs.Our Government nor our people won’t do anything about it but surely my Lord has a special place for you. Take your small profit from us losing our 50000 jobs and parlay it with more hurt for our hard working middle class.After you destroy enough of our jobs with our money then maybe the White House will step in with a plan to save or create more jobs after we bail you out again.You all are EVIL.
It never ceases to amaze me of the mentality that someone owes someone something.
Why is some think that since the banks were bailed out by tax payers money that automatically the government should extend the same to a union company? I dislike the fact that taxpayers are on the hook for mismanagement and greed.
Think about all the jobs that have been lost since the economy went in the tubes and you will find out that the numbers far exceed what YRC will have to cut or lose in BK if liquidated. So if YRC would get some special deal then all should have special deal.
If the current pension legislation passes more than likely the tax payers will be on the hook to foot the bill and I am totally against paying the price for mismanagement of pension funds at the helms of union bosses. FLAT OUT IT IS BS.
Rough as it may seem the numbers you quote are false and if you pay attention to those news releases you will find there has been 50,000 , 45,000 and the last reporting of 30,000 employees. It amazes me the propaganda spewed from the mouths of some to persuade. The larger numbers are claimed in letters to the President of the USA and others in Congress.
The bottom line is this and it goes towards all Americans. ” You have sat silently for decades allowing the steam roller job from corporate America, you continued to vote into office the same garbage that has gotten us here today, you have created career politicians who have spent decades in office and assisted in the outcomes of the issues we deal with today.”
STFU and stop crying like newborns. YOU reap what you sow.
In regards to the reply of reaping what we sow,spoken like a true Dick Cheney republican! Lets just let another group go down because of a bunch of crooked rats! Maybe its time to tar and feather these punks,and run them out of Dodge! I WOULD LIKE TO START WITH THAT PUNK just ahead of me with his commy twisted logic
The whole trucking industry is struggling. There is more supply than there is demand. If the union carrier can not cover the costs of operating, so be it. If its YRC or a group of smaller carriers that perish, nearl the same number of jobs will be lost. A right-sizing of the industry is what is needed to allow, all the survivors breath, as it is now nearly all are practically out of breath.