YRCW Requests Full Pension Cessation Amount From Teamsters

In a recent report from J.P. Morgan, the Teamsters Democratic Union reportedly posted a message on its website indicating that YRC Worldwide

will request renewal of the full pension cessation amount. The amount would be about $350 million on an annual basis. The TDU did not indicate when YRCW and the Teamster leadership would formally announce having an agreement for the broader membership to vote on. Despite headwinds, J.P. Morgan still feels that YRCW remains in business in the medium term. The historical precedent is that the various parties interested in seeing YRCW survive have made the concessions necessary for this to be possible, and believe the same could be true this fall. J.P. Morgan has a Neutral rating on YRCW YRCW closed Thursday at $0.28