Zollars On The Defensive; YRCW Cuts Jobs

YRC Worldwide CEO Bill Zollars

In a statement intended to clarify the current status at YRC Worldwide, Bill Zollars, chairman, president and CEO, said, in part, “We’ve put a number of measures in place over the past year to strengthen our balance sheet and take full advantage of our network assets in the marketplace–actions that will enable us to position future service enhancements and position our business for long-term growth.”

In a financial update issued October 29, 2008, Zollars began, “You have likely heard or read statements recently about the overall financial health of YRC Worldwide–commentary generated by media, analysts and others. Given the noise level and likelihood for speculation and misinterpretation, I would like to set the record straight by addressing the facts head on.”

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