Troubled YRC Worldwide got an early Christmas present from the courts:
Of course, this does not mean YRCW will survive in 2011 or even turn a profit. Note the Teamsters' apparent desire for an outsider to buy YRCW and save a lot of union jobs. Unions will try tactics like lawfare and corporate subterfuge when they're stuck with accepting concessions.
Full disclosure: No position in YRCW.
A federal judge on Thursday dismissed a lawsuit ABF Freight System filed against rival trucker YRC Worldwide and the Teamsters aimed at blocking a labor agreement central to YRC’s survival.
Of course, this does not mean YRCW will survive in 2011 or even turn a profit. Note the Teamsters' apparent desire for an outsider to buy YRCW and save a lot of union jobs. Unions will try tactics like lawfare and corporate subterfuge when they're stuck with accepting concessions.
Full disclosure: No position in YRCW.
