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TRUCKING INDUSTRY CRISIS * USA - Fear Or Reality?
* YRC Worldwide May Fail, Even With Paycuts
USA -Truckers' Forum, by Bullwinkle -7 Jan 2009: -- The final vote on the Union paycuts is supposed to take place today, or may have already taken place at this point... But a news story I heard on the radio last night, which referenced sources within YRC Worldwide, said all of these paycuts and job cuts are likely only delaying the inevitable, Bankruptcy. Yep, I just said that nasty word again.... According to what I was hearing last night, YRC Worldwide's debt is so high, following their acquisitions such as Roadway, that in order for them to succeed, even with help via Union paycuts and several job cuts, the only chance that YRC Woldwide has of succeeding is if the trucking industry has a very significant turnaround in the FIRST quarter of 2009... As we all know, the chances of the trucking industry having a turnaround in the first quarter of 2009 are extremely slim. If anythying, it is likely to get worse during the first quarter... (P.N.: I have no facts to verify any of this. Can any one to do it?)
* Rock Island trucking firm cutting 70 jobs
Rock Island,ILL,USA -WQAD -Jan 7, 2009-- More jobs could be cut in the Quad Cities as a Rock Island trucking firm says it'll consolidate operations... The parent company of Roadway Express says more than half of its workforce may be cut in the coming weeks at its Rock Island trucking terminal... A company spokesman tells the Dispatch-Rock Island Argus that 70 local employees will be laid off and 60 will stay on the job...
* R&J Trucking Company announced 35 layoffs...
Parkersburg,WV,USA -WTAP-TV, byTodd Baucher -Jan 7, 2009: -- Early this week, R&J Trucking Company announced 35 layoffs...which could be temporary, depending on how the economy fares... Tuesday, Americas Styrenics announced the reduction of 60 jobs...not totally, but at least partially connected to the current economic picture... The R&J situation could be related to the national, not just the local economy... There's long been a saying that, when one area of the country catches cold, another area sneezes. The Mid-Ohio Valley and the industry on Ohio Route 7 may be getting a chill that might not be related to the current weather... (SEE VIDEO)
Labels: trucking industry crisis
posted by Unknown @ 6:20 AM
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