Tuesday, January 03, 2006

Rein in the Corporate Wages of Excess

As Compensation for Executives Tips the Scales, Shareholders Deserve Power to Change the Equation
Last month, the Teamsters cheered a decision by Coca-Cola to belatedly adopt a union suggestion to limit large executive severance packages. Under the policy change, Coca-Cola agreed not to grant severance payments in excess of 2.99 times an executive's annual salary and bonus without getting shareholder permission. Full story here.........http://www.hoffa2006.com/mediacenter/article.php?id=158

Roadway says they will be "re-engineering their operations."

Roadway Express, a trucking company based in Greenville County, says they will be "re-engineering their operations."
This re-engineering will affect about 200 employees who will have the choice to either be re-located to other offices throughout the country or be laid off.
Roadway Express's Senior Director says they will not be closing their Greenville based office and the re-organization is expected to improve their services.
The tentative date for all of this expected to be in mid-March.

Yellow Roadway Becomes YRC Worldwide Inc.

OVERLAND PARK, Kan. - Yellow Roadway Corp. has changed its name to YRC Worldwide Inc., the company announced Tuesday.The name change was meant to reflect the change in the Overland Park-based transportation company's markets and services, said Bill Zollars, chairman and chief executive officer. Yellow acquired Roadway in December 2003 and regional trucker USF Corp. in May 2005. In September, it completed a deal to buy half of the second-largest air freight importer in China, JHJ International Transportation Co.
"Simply put, the breadth and depth of the enterprise is greater than the name Yellow Roadway conveys," Zollars said in a written statement. "We now operate in over 70 countries around the world and our services have expanded to encompass logistics, as well as global, national and regional transportation.As of Wednesday, the company's stock ticker will change to YRCW on the Nasdaq Stock Market.
Shares of YRC Worldwide were down 41 cents at $44.20 in trading Tuesday morning on the Nasdaq. It has traded in a 52-week range of $38.81 to $64.47.