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TRUCKING INDUSTRY * USA
* Trucker bankruptcy rumors 'overblown'
New York,NY,USA -AP, by SAMANTHA BOMKAMP -8 July 2009: -- An executive from one of the companies called upon to offer a restructuring plan for YRC Worldwide Inc. said Wednesday the prediction the beleaguered trucker will soon file for bankruptcy is "overblown."... Financial adviser Tenex Capital Management is guiding the company through the steps of restructuring while avoiding a bankruptcy filing. Responding to several reports of impending bankruptcy in an interview with The Associated Press, the person asked to remain anonymous because of the sensitivity of the talks... "We don't think filing is the most effective way to do it," this person said. "We believe there are ways to make this work without bankruptcy"... YRC and Teamsters union officials resumed talks on Wednesday as they work toward a deal to keep the debt-laden trucker out of bankruptcy. But at least one Wall Street analyst doesn't think they'll make it.* YRC adviser Rothschild in talks with debt holders
Chicago,ILL,USA -Reuters, by Nick Carey; editing by Leslie Gevirtz and Andre Grenon -Jul 8, 2009: -- YRC Worldwide Inc. said on Wednesday that Rothschild Inc. has initiated discussions with several significant debt holders as a financial adviser to the the struggling No. 1 U.S. trucking company's restructuring... Earlier, a source told Reuters, Rothschild had been asked to evaluate potential bond exchanges by YRC. Rothschild was retained early this year by the Overland Park, Kansas-based company and had only recently been asked to take a more active role, according to the source... YRC's stock plunged 28 percent on Wednesday, after Reuters reported its retention of Rothschild, to a new low at 89 cents...
* DOT Freight Index Falls 14.8% in May
Washington,DC,USA -Transport Topics -9 July 2009: -- The Department of Transportation said its freight transportation services index fell 14.8% in May from a year earlier to its lowest level in 12 years... The drop to 94 was the largest May-to-May drop in the 20-year history of TSI calculations, DOT’s Bureau of Transportation Statistics said in its monthly report Wednesday. The TSI fell 0.6% from April... The TSI is a seasonally adjusted monthly index measuring the output of services provided by the for-hire transportation industries, including railroad, air, truck, inland waterways, pipeline and local transit...* Schneider Logistics sells Czech facility
Milwaukee,WIS,USA -The Business Journal of Milwaukee -July 7, 2009: -- Schneider Logistics Inc. of Green Bay has sold a facility in the Czech Republic under a new multi-year outsourcing agreement with ExlService Holdings Inc., a provider of outsourcing and transformation services based in New York City... ExlService Holdings acquired the operations of Schneider Logistics SRO in Olomouc, Czech Republic, effective July 3. The facility provides complex transaction processing services to Schneider and its clients in Europe and the United States. It has approximately 200 employees who will transfer to EXL as part of the transaction...
Labels: trucking industry news USA
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