Takaharu Fushimi has returned to the U.S. to assume his post as CEO of Yokohama Corp. of North America. Yokohama Rubber Co., Ltd. (YRC) announced the return of Takaharu Fushimi to the United States to assume the post of chief executive ...
Tags: Takaharu Fushimi, CEO, Accessories
Come May 1, less-than-truckload carrier Old Dominion Freight Line will increase its base rates by an average of 4.3 percent, the company announced. "Our customers are asking for more capacity, and more value added products and services. ...
Tags: Transportation, Auto Parts
YRC Worldwide Inc. reported fourth-quarter net income of $400,000, compared with a $35.3 million loss in the prior year period, helped by an income tax benefit. The company’s operating results, however, were worse than the ...
Tags: Yrc, Transportation, Yrc Transportation
YRC Worldwide Inc. said it has completed $1.15 billion in new financing, including term and asset-backed loans that will reduce borrowing costs by $40 million to $50 million annually and extend debt maturities to 2019. The $700 million ...
Tags: Transportation
Teamsters union members at YRC Worldwide Inc. voted to a four-year contract extension through 2019, which the carrier called a “key ingredient” toward refinancing $1.4 billion in debt. The result was announced Jan. 26 after ...
Tags: YRC, Teamsters union
YRC Worldwide and the Teamsters union said late Jan. 17 that they have reached a tentative new labor agreement to help the carrier deal with its debt and financial situation. The company said the plan extends the contract to 2019 as it ...
YRC Worldwide Inc. said is evaluating new approaches to its long-term contract situation in talks with the Teamsters union after last week’s rejection of an extension that would have solidified the carrier’s financial situation. ...
YRC Worldwide's truck drivers and other employees, represented by Teamsters Union, have rejected a proposal to extend the current labour contract to 2019. Members voted over the past several weeks and ballots were counted Thursday. The ...
Tags: Transportation, Auto Parts
YRC Freight Teamsters at YRC Worldwide Inc. rejected a contract extension that the company said was crucial to refinancing its debt and ensuring long-term stability. The union announced the results of the vote late Jan. 9. A total of ...
Tags: YRC, contract extension, refinancing, teamsters, vote
One of the world's largest LTL carriers, the financially-troubled YRC Worldwide, hopes to borrow $1.15 billion to refinance its debt, according to Bloomberg News. Bloomberg News reports the deal, led by Credit Suisse Group AG, includes a ...
Tags: Trucking News, Trucking, Truck Giant
A. Duie Pyle Cos. President Steve O'Kane is retiring this month, and Randy Swart was named chief operating officer to lead the less-than-truckload operation. The company, based in West Chester, Pa., said in a Jan. 7 statement that the ...
Tags: A.Duie Pyle Cos., Steve O'Kane, retirement, Randy Swart
Carlyle Group Inc. said it has invested $55.2 million in connection with YRC Worldwide Inc.'s recently announced agreement to reduce its debt load. The investment company, one of the carrier's five largest investors, disclosed that it has ...
Tags: Carlyle Group, YRC Worldwide, investment, debt agreement
YRC Worldwide Inc. has reached an agreement with some of its creditors to reduce its debt by about $300 million, a move the carrier said is a key to obtaining new concessions from the Teamsters union. As a result of the agreement, YRC's ...
Tags: YRC Worldwide, Teamsters union, reduce debt
As the remnants of Superstorm Sandy continue to make life difficult from Nova Scotia to North Carolina to Wisconsin, millions who bore the brunt of the storm are now working to assess the damage and begin the hard work of rebuilding. As ...
Tags: Superstorm Sandy, economic damage, ALAN, supply chain