![[Valid Atom 1.0]](valid-atom.png "Validate my Atom 1.0 feed")
TRUCKING INDUSTRY * USA - The Tough Keep Going
“That which does not kill you makes you stronger”
Las Vegas,NV,USA -Transport Topics -12 Oct 2009: ... That would have been an appropriate theme for the 2009 American Trucking Associations’ Management Conference & Exhibition... ATA President, Bill Graves, chose a noble version of the same sentiment, when he described the hard times trucking is going through as a “transformational moment”... The Great Depression and total deregulation of the industry were such moments in the past. Today, we are beset by loss of faith in a financially secure future, which has made the consumer very cautious about spending; volatile fuel prices, which last year greatly eroded trucking’s own sense of security; and a transfer of political power to a new, more demanding regulatory agenda that stands in stark contrast to its predecessor... Failure to adapt to the ever more complicated, increasingly intrusive operating environment, Graves said, “simply means you cease to exist as a transportation enterprise”... The survivors of hard times, the apt students of lessons imposed by difficulties, the strong-willed and the tough-minded truckers of today are destined to be the truckers of tomorrow...
* Lenders extend deadlines for YRC Worldwide
Overland Park, Kan,USA -The St. Louis Business Journal -12 Oct 2009: -- YRC Worldwide Inc.’s lenders have given the trucking giant three weeks before a key provision kicks back in, requiring that YRC always have $100 million in liquidity... The Overland Park, Kan.-based company said Monday that its lenders had extended that deadline until Oct. 30. The previous deadline, also an extension, was Tuesday... At the end of the second quarter, YRC said it had liquidity of $218 million... The amendment, YRC’s 11th bank amendment, also extends the expiration of a revolver reserve amount and the due date for a $10 million asset-backed securitization commitment fee to Oct. 30. The revolver commitment stays at $950 million... This stopgap is paving the way for a long-term solution that the company expects to be able to discuss in conjunction with its third-quarter earnings report on Oct. 30... (Photo from 1.bp.blogspot: stormy truck)
Labels: trucking industry news USA
posted by Unknown @ 4:45 AM
0 Comments:
Post a Comment
<< Home