Wednesday, July 20, 2011

YRC Worldwide Schedules Second Quarter Conference Call

YRC Worldwide Inc. (NASDAQ: YRCW) will hold a conference call for the investment community on Friday, July 22, 2011, beginning at 9:30am ET, 8:30am CT.

Second quarter earnings will be released the same day, Friday, July 22, 2011, prior to the opening of the market. The call will be available to listeners live and by recorded playback via the YRC Worldwide Internet site

YRCW is latest carrier to roll out a 2011 rate increase

Less-than-truckload transportation services provider YRC Worldwide is the most recent market player to announce a 2011 general rate increase.

The company yesterday rolled out an average GRI of 6.9 percent which will cover non-contractual shipments in the United States, Canada, and Mexico, with increases varying by lane and shipment type, according to company officials.

And YRCW added that these rate hikes will take effect on August 1 and apply to minimum charge, LTL rates, and accessorial charges, with domestic Canada rates not being impacted.

This increase follows matching 6.9 percent increases announced in recent weeks by FedEx Freight and Con-way, Freight, which also take effect on August 1, and ABF Freight System, whose increase kicks in on July 25. Full Story.............

Monday, July 18, 2011


Statement from Tyson Johnson, Co-Chairman, TINFINC

On July 6, 2011, the U.S. Court of Appeals for the 8th Circuit in St. Louis, MO issued its decision on the appeal filed by ABF in its lawsuit against the union and the YRCW companies, regarding the financial relief that was given to the YRCW companies to help them survive the worst economic recession since the Great Depression. As you may recall, the U.S. District Court in Little Rock, AR in December 2010 dismissed ABF’s suit on a technical basis stating that ABF did not have standing or the legal right to bring its lawsuit.

Without deciding whether there is merit to ABF’s allegations in its suit, the Appeals Court merely said that ABF could process its case so that the district court can determine whether or not there is evidence to support ABF’s claim that the union and YRCW did not have the right under the NMFA to negotiate the wage, benefit, and work-rule relief in the memoranda of agreement. While the case is being processed, the union, YRCW, and ABF will, through the discovery process, be able to present evidence and obtain the evidence relied on by all parties to support their positions. The discovery process should take about six months.

The Appeals Court decision does not mean that ABF has the right to the same economic relief as provided YRCW. Also, the decision does not require the union to go back to the bargaining table with ABF. As mentioned above, the decision only requires that ABF’s lawsuit be processed before the district court.

We will keep you informed of all developments in this matter.

Sunday, July 17, 2011

CIO Magazine Lists ABF Among Its 2011 Information Technology Innovators

ABF has been named a recipient of a 2011 CIO 100 award. In announcing the winners in its 24th annual program, CIO magazine said the organizations chosen "exemplify the highest level of operation and strategic excellence in information technology (IT) and use IT in innovative ways to create business value."

ABF earned a spot on the distinguished listing for its use of IT in leveraging supply chain services. "ABF is always striving to improve supply-chain management by integrating quality processes and leading-edge technology. It's very gratifying to have those efforts recognized with this prestigious award," said Dave Cogswell, president of Data-Tronics Corp., ABF's IT sibling.

"Our model provides for a single point of contact for all of our customers' supply chain needs, including order fulfillment, packaging and light assembly, labeling, and product inspection and testing," says Stephen Young, director of ABF Supply Chain Services. "Our web-based management tools give customers a seamless connection to inventory, shipping and receiving, order status and warehouse documentation, enabling them to take control of their product distribution across multiple warehouse locations on a single system."

The recipients of this year's CIO 100 awards were selected through a three-step process. First, companies completed an online application detailing their innovative IT and business initiatives. Next, a team of judges reviewed the applications in depth, looking for unique practices and substantial results. Finally, CIO editors reviewed the judges' recommendations and voted on the final 100. "This year's CIO 100 awards draw well-deserved attention to companies that are not only innovating with IT but creating genuine business value as well," said Maryfran Johnson, editor-in-chief of CIO magazine. "These winning companies and their IT organizations are an inspiration to businesses everywhere."

The 2011 CIO 100 awards will be presented at The Broadmoor in Colorado Springs, Colo., on August 16 at the conclusion of the 16th Annual CIO 100 Symposium and Awards Ceremony. Complete coverage of the 2011 CIO 100 awards will be online at on August 1, 2011, and in the August issue of CIO magazine. This is the third time ABF has been recognized as an IT innovator by CIO.

YRC Worldwide Projects Second Half Operating Profit

Troubled trucking giant forecasts operating profit forsecond half, post restructuring

YRC Worldwide expects its revenue to rise about $600 million this year to $4.9 billion and to report an operating profit of $4.2 million in the second half.

The company didn’t say how it would turn a projected $69.1 million operating loss in the first half into an operating profit, but it has high hopes for the second half.

YRC gave the public a limited view into its internal forecast for 2011 after sharing the information with its lenders while negotiating its financial restructuring.

The trucking company filed its forecast with the Securities and Exchange Commission Thursday as it nears the July 22 restructuring deadline.

Despite the recent slowdown in the economy, YRC is predicting a 7 percent increase in revenue in the second half of the year from the first half to $2.5 billion. Full Story.........