Saturday, March 12, 2011

YRCW's CFO Departs For Smoother Roads

YRC Worldwide is about to say goodbye to its CFO.  Losing a key executive in the midst of a turnaround effort is never a good sign.  The CFO's role in restructuring YRCW's balance sheet and estimating the impact of issuing new equity had to be critical.  One can only guess at her reason for seeking greener pastures elsewhere.  Maybe she got sick and tired of hearing the Teamsters demand reinstatement of their pension plan contributions.  You would too if your workforce's main motivation was to seek more pay for less work.  YRCW will be hearing a lot more of that nonsense with Teamsters serving on its board.  No executive would look forward to that given the rampant greed and corruption among unions nationwide

Full disclosure:  No position in YRCW.