Teamsters Grow Half A Brain On YRCW Equity Deadline

The surprises just keep on coming. Scanning discussion boards for the trucking industry led me to believe union drivers would have stuck a knife in YRC Worldwide (YRCW) just for spite. I really thought the Teamsters were dumb enough to let YRCW slip beneath the waves. I guess somebody finally told them that they’d be out of jobs if they let that happen. They’ve agreed to let YRC Worldwide have more time to fix its balance sheet. Perhaps all those union dues bought them some competent legal counsel.

YRCW still faces the undesirable choice of debt rescheduling or equity dilution, but at least now it can make this choice without knuckle-dragging union drivers getting in the way of common sense decisions. Hey Teamsters, quit whining and start driving so your shop stewards can get back to drinking coffee in the break room.

Full disclosure:  No position in YRCW

About Anthony Alfidi 128 Articles

Affiliation: Alfidi Capital LLC

Anthony Alfidi is the Founder and CEO of Alfidi Capital. His firm publishes free investment research with honesty and humor.

Mr. Alfidi holds a Bachelor's degree in human resource management from the University of Notre Dame (cum laude) and an MBA in finance from the University of San Francisco. He is a life member of Beta Gamma Sigma, the academic honor society for business majors. He has been a private investor since the 1990s.

7 Comments on Teamsters Grow Half A Brain On YRCW Equity Deadline

  1. What makes you think the teamsters would do that after they gave YRCW wage and benefit concessions 3 different times in the last year and a half? What an anti union idiot.

  2. Ltes see, Zollars greed buried us in debt and the give-backs from the union members have kept YRCW afloat but the union members were getting in the way. Go figure !

  3. Poor tony, a little bitter with the folks that brought you the weekend huh? That’s fine just keep doing what you and your kind are best at: outsourcing America to the lowest bidder, probably somewhere in communist China. Oh btw you too are dispensable, anyone can sit at a computer anywhere in the world and do that which you consider “work.”

  4. Tony: wazzamatterforu? Maybe you wanted to be a Teamster truck driver and couldn’t cut the mustard, eh? Don’t blame the “knuckle dragger” Teamsters for this economic mess, you need to look in the mirror. It was Wall Street and the US Government to blame. We can’t outsource, we can only produce, and we can only produce when there is a viable economy in this country-not when all of the “Good Paying” jobs have been shipped overseas to that rat hole China, India or any other 3rd World place. BTW, it wasn’t “Good Legal Counsel”, it was just good old common sense from the drivers out working everyday to protect our jobs. For me, it would pleasure me to the end of time to be able to strip our CEO and his butt buddy President of their jobs, retirements and perks and have them be forced to file for unemployment benefits like they have done to 33000 of our Teamster brothers/sisters and see how they like it.

  5. I will let you know I have been a steward for 18 yrs. and never once did I get to drink coffee except on breaks with my brother teamsters. The unions have made this country great until NAFTA. All our jobs are going over the borders and the oceans to lower paying companies this is not right. I think you have anti union ideals.

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