Thursday, August 04, 2011


Another exec bails out at troubled YRCW.  The COO's job in a nutshell is to make the trucks run on time.  Maybe he got sick of listening to Teamsters whine about having to actually do some work for a change. 

Hey, YRCW, I'm available to act as interim COO.  My first order of business when hired will be to shut down the union-heavy divisions and transfer as much traffic as possible to the USF Reddaway units (or to whichever low-cost, non-union parts of the company still exist).  If that's a non-starter, I'd start farming out "last mile" deliveries to local owner-operators and start furloughing Teamsters.  Most recent hires get the first pink slips.  Bring on the DOL complaints.  That's my Hail Mary plan to salvage as much shareholder value as possible before the recap leaves them almost penniless. 

I drove past a former YRC Worldwide terminal here in San Francisco a few weeks ago.  It looked pretty run down and I don't feel like guessing how long it's been unoccupied.  The whole darn company will look that way pretty soon if it can't get rid of the union culture that's eating it alive.

Full disclosure:  No position in YRCW at this time or any other time.