YRC reportedly seeks $1 billion bailout
May 15, 2009 by Splatty
Filed under Misc Logistics
Too big to fail???
Various media reports are reporting that YRC Worldwide Inc. will petition the government for $1 billion in tarp funds to help alleviate pension obligations.
After posting a $415 loss in the first quarter, the company is reportedly experiencing difficulty in dealing with the economic downturn. YRC is one of the nation’s largest domestic trucking companies with approximately 20% of the national market share of LTL freight.
The Wall Street Journal has an excellent article with all of the details.
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