Anyone else see the news about the trucking industry?
By Daniel at 29 December, 2009, 2:48 pm
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We are in some serious trouble with the trucking industry going bankrupt. And the derivatives are going to bring these companies down. The big boys have bets that will pay off big if the company goes bankrupt. What is wrong with this picture. This seems like big news to me, but not much press or worry from the MSM or markets. The largest trucking company in America is on the verge of bankruptcy …. crazy time we are living in..
YRC Extends Bond-Swap Deadline to Avert Bankruptcy
Dec. 29 (Bloomberg) — YRC Worldwide Inc., the largest U.S. trucking company, extended the deadline for a bond exchange for the fifth time this month until 11:59 p.m. today in New York as participation remained below a required threshold.
US Freight News - Arrow Trucking And YRC Worldwide Woes Continue
US - The highway crash that is the Arrow Trucking collapse has not got any better for employees of the company over the Christmas period. For quite a few of the 1400 or so drivers who now have no employment the demise of the company meant losing their home as well as their only source of income. At the moment the company is not officially in bankruptcy and that means both drivers and freight customers who cannot locate their goods, remain in limbo, awaiting further developments.
Any one else have any information on this situation? I just stumbled on it this morning.
- memorrison
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