Tuesday, June 15, 2010

YRC freight improves, cash burn continues

YRC Worldwide Inc. said that June freight volume is surpassing that of last month and that the company still should report an adjusted profit in the second quarter.

But the Overland Park, Kan.-based trucking and logistics company also said Monday that its day-to-day operations were continuing to burn through cash and that it was taking steps to boost liquidity. Full Story.....

Monday, June 14, 2010

Aikman named ABF chief of marketing

ABF Freight System, Inc. named Russ Aikman as director of marketing and public relations, the company announced today in a release.

Aikman replaces Danny Loe, who recently became ABF's vice president of yield management.

Aikman, an 11-year veteran of ABF, will be responsible for market strategy, new product development, Internet and intranet initiatives, advertising and public relations, the company said.

YRC cites good volume, but also liquidity pressure

U.S. trucker YRC Worldwide said on Monday that business volumes were increasing in June after better-than-expected gains in shipping volume in May, but the company was facing liquidity pressure amid the revived growth in its business.

YRC, which narrowly averted a bankruptcy filing in December and has been undertaking a broad restructuring of operations and its finances, said it expects to achieve positive adjusted EBITDA (earnings before interest, taxes, depreciation and amortization expenses) on a consolidated basis and positive operating income for its regional transportation segment for the second quarter of 2010. Full Story......