YRC Loses $309 Million in Second Quarter

chefdennis · Jul 30, 2009

How long can they hang on?? Even after they take the integration cost out, they still lost $255 million......and that is just for the 2nd qt'er.....

YRC Loses $309 Million in Second Quarter

Financially trouble less-than-truckload carrier YRC Worldwide today reported that it lost $309 million, or $5.20, in the second quarter of 2009, down sharply from a year-ago profit of $35.8 million, or 62 cents.

During the quarter the company booked a $114 million charge primarily related to the integration of its Yellow and Roadway national LTL networks. Excluding this charge, the company lost $255 million, or $3.53 a share.

Revenue plummeted 45% to $1.33 billion, the Overland Park, Kan., carrier reported Thursday.

http://ttnews.com/articles/basetempl...?storyid=22440

OntarioVanMan · Jul 30, 2009

Let them go under... adios....

With over supply in the industry others will pick-up the slack and hire what drivers they need and fill the void...The teamster bosses will cry about loss of income from lost dues I am sure...
Cities will lose tax revenue from closed terminals...that will hurt somewhat.

chefdennis · Jul 30, 2009

I have no problem with them folding...one thing about the Roadway terminals...here in toledo the big R-way terminal on hagman road id rumored to be owned my the Catholic church....tax exempt and leased back to R-way......i don't know that for a fact, and i have never bothered to look it up, but it has been rumored for many yrs....so it thats true, i wonder how many other of their terminals are setup the same way.....

guido4475 · Jul 30, 2009

You know who I feel sorry for? The guys who are close to retirement.Just like the guys at Consolidated Freight.Working all those years for a comfortable retirement and then so close, and then-nothing.It used to be that a union job was the way to go,but not anymore.

OntarioVanMan · Jul 30, 2009

Dennis..if any of that were a fact then Roadway has been playing with a stacked deck and STILL blew their advantage away!!

guido..you can also think of the younger guy/gals with families that have been enduring being short of hours and pay check...if their company gets any LRC business they will be better off...
Game of life...always winners/ always losers....

guido4475 · Jul 30, 2009

OntarioVanMan said:
Dennis..if any of that were a fact then Roadway has been playing with a stacked deck and STILL blew their advantage away!!

guido..you can also think of the younger guy/gals with families that have been enduring being short of hours and pay check...if their company gets any LRC business they will be better off...
Game of life...always winners/ always losers....

Yes, I know where you're coming from and saying.I wonder if the gov't will help them out or not.(YRC)

Moot · Jul 30, 2009

It's a shame that YRC will probably drag Holland down with them. Holland has been a top notch, profitable regional LTL carrier. Holland is somewhat of separate entity from Yellow and Roadway. Maybe they could be sold, if anyone is in the market for a union LTL.

nightcreacher · Jul 31, 2009

ive got a friend that is driving for yrc expedite in a company tractor trailer.Hes running solo and getting 3000 miles a week

ATeam · Jul 31, 2009

YRC Cash Down to Three Months, Analysts Say

ATeam · Aug 17, 2009

Analyst Looks at YRC's Bankruptcy Potential

usafk9 · Aug 18, 2009

A little late to this party.....

That would not surprise me in the least, Dennis.

The Catholic Church is the largest non-government land owner in the world.