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TRUCKING INDUSTRY NEWS * USA
* YRC wage cut will remain through 2009
Kansas City,MO,USA -The Kansas City Star/Economy -14 May 2009: -- A 10-percent wage cut for YRC Worldwide Inc.’s nonunion workforce will remain in effect through the remainder of the year... The Overland Park-based trucking giant initially planned to reduce the salary cut to 5 percent in July. But economic conditions forced the company to keep the 10 percent reduction in place, said YRC chairman and chief executive Bill Zollars... YRC Worldwide has about 1,200 area nonunion workers... Also, the company reportedly will seek $1 billion in federal aid to help with the company’s obligations to the pension funds for union employees... The company is starting to realize benefits from the merger of its two national carriers in March, Zollars said this week, but the economy has yet to respond. That has forced YRC Worldwide to maintain the current level of pay cuts as well as keep the company’s suspension of the 401(k) plan match...* Wabash National’s First-Quarter Loss Widens
Lafayette,IND,USA -Transport Topics -14 May 2009: -- Trailer manufacturer Wabash National Corp. lost $28.3 million, or 94 cents per share, for the first quarter, compared with a loss of $6.4 million, or 21 cents, a year ago... Sales fell by about half to $77.9 million from $161.1 million a year ago, the company said late Wednesday... (Photo: Wabash's Red Freightliner)* Velocity Express Reports Fiscal 3Q Loss
Westport,CT,USA -Transport Topics -13 May 2009: -- Velocity Express Corp. reported it lost $13.7 million, or $3.73 a share, in its fiscal third quarter, compared with a loss of $10.6 million, or $3.78, a year earlier... The package-delivery and supply chain management company’s revenue for the quarter ended March 28 fell to $60.8 million, from $82.2 million a year earlier, the company said Wednesday...* Express-1’s First-Quarter Profit Plunges
Buchanan,MI,USA -Transport Topics -13 May 2009: -- Express-1 Expedited Solutions said its first-quarter profit plunged to $5,000, from $643,000 a year ago... Its per-share profit was zero cents per share, compared with 2 cents a year ago, the ground expedited carrier and logistics firm said late Wednesday... Revenue slipped 15% to $20.1 million from $23.7 million a year ago, the company said...Labels: trucking industry news USA
posted by Unknown @ 9:39 AM
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