![[Valid Atom 1.0]](valid-atom.png "Validate my Atom 1.0 feed")
TRUCKING INDUSTRY * USA - Wage concessions won’t prevent YRC bankruptcy
Analyst David Ross of Stifel Nicolaus wrote in a client note he does not believe a plan approved last Friday by workers to cut wages and make other concessions will be a long-term fix for the company’s “financial, operational and competitive problems”
Hartford,CONN,USA -The Associated Press/The Trucker —12 Aug 2009: -- Workers’ wage concessions won’t be enough to help YRC Worldwide Inc. avoid bankruptcy in the long term, an analyst said Wednesday as he downgraded the trucker... Analyst David Ross of Stifel Nicolaus lowered his rating on the Overland Park, Kan.-based company to “Sell” from “Hold”... Ross wrote in a client note he does not believe a plan approved last Friday by workers to cut wages and make other concessions will be a long-term fix for the company’s “financial, operational and competitive problems”... Bankruptcy is not imminent, he said, “but we do believe it is becoming increasingly likely.” YRC Worldwide should remain in business probably at least into this year’s fourth quarter, Ross said... Labels: trucking industry news USA
posted by Unknown @ 12:58 PM
0 Comments:
Post a Comment
<< Home