- published: 03 Dec 2013
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YRC Worldwide Inc. is the holding company for brands including YRC, YRC Reimer, New Penn, USF Holland and USF Reddaway. YRC Worldwide has a comprehensive network in North America, and offers shipping of industrial, commercial and retail goods. The company is headquartered in Overland Park, Kansas.
In 1906, Grover Cleveland “Cleve” Harrell (1884-1942) started what was to become the Yellow Cab Company with a horse-drawn hack and a team of horses in Oklahoma City. After a year, he was able to buy his first model T Ford, a novelty then, and people were willing to pay more to ride in an automobile. After the first World War, he bought two more cars and hired a relief driver. In 1918, Cleve hand-painted one of his cars yellow. Although ridiculed by other cab drivers, he noticed he was hauling more passengers than anyone else, so he painted all his cars yellow and business boomed. Cleve trademarked the name Yellow Cab for the state of Oklahoma. Later, John Hertz copied the Yellow Cab in Chicago and obtained the national trademark for the use of the name.
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Jun 25, 2010 -- YRC Worldwide (YRCW) said it entered into a definitive agreement to sell a portion of its YRC Logistics business to Austin Ventures, a strategic private equity investor. This logistics business will operate as a private company owned by Austin Ventures. The sale will form the basis for a new company specializing in international freight forwarding, customs brokerage, transportation management, truckload services, and dedicated warehouse and fulfillment services in North America, Latin America, Europe and Asia. The agreement between YRC Worldwide and Austin Ventures is for an acquisition price of $37 million, and incremental value will be realized by both parties through a comprehensive commercial services agreement. The transition to new ownership is expected to be complete...
SmarTrend identified a Downtrend for YRC Worldwide (NASDAQ:YRCW) on May 05, 2010 at $0.49. In approximately 1 month, YRC Worldwide has returned 54.4% as of today's recent price of $0.22. YRC Worldwide is currently below its 50-day moving average of $0.50 and below its 200-day moving average of $1.44. Look for these moving averages to decline to confirm the company's downward momentum. SmarTrend will continue to scan these moving averages and a number of other proprietary indicators for any changes in momentum for shares of YRC Worldwide.
04/13/2010 - YRC Worldwide Inc. (NASDAQ:YRCW) has slightly rebounded after a deep plunge this morning that came after the shipping and trucking company's president Tim Wicks resigned. "Though we believe a bankruptcy filing is less likely near term, YRCW's intermediate-term bankruptcy risk remains elevated," commented analyst Jon Langenfeld. YRC Worldwide Inc. is trading down 9.42% at $0.58 on volume of 47,339,008, versus the average volume of 38,345,800.
Standard & Poor's recently took rating actions on U.S.-based trucking company YRC Worldwide Inc. In this CreditMatters TV segment, Director Anita Ogbara explains the reasons behind our actions. Topics include the company's liquidity profile, upcoming debt maturities, and our expectations for its performance over the next few quarters.
Shares of YRC Worldwide (NASDAQ:YRCW) are spiking pre-market after the company offered an update on its expected Q2 results and reconfirmed positive cash flow status. YRC now expects Q2 adjusted EBITDA within a range of $35-$45 million, excluding the discontinued YRC Logistics operations. When including the expected adjusted EBITDA loss from discontinued operations of $9 million to $11 million, YRC expects Q2 adjusted EBITDA within a range of $24-$36 million, exceeding the $5 million covenant level required by its lenders. Shares of the company are now trading at $0.14 pre market, after closing at $0.11 on Friday.
YRC Worldwide (NASDAQ:YRCW) traded in a range yesterday that spanned from a low of $0.36 to a high of $0.41. Yesterday, the shares fell 15.81%, which took the trading range below the 3-day low of $0.41 on volume of 56.5 million shares. Shares of YRC Worldwide are currently trading below their 50-day moving average (MA) of $0.55 and below their 200-day MA of $1.58. Look for these MAs to provide resistance for a short-term rebound in the shares. SmarTrend is bearish on shares of YRC Worldwide and our subscribers were alerted to Sell on May 05, 2010 at $0.49. The stock has fallen 26.1% since the alert was issued. SmarTrend has the shares in a Downtrend and expects the share price to rebound toward the $0.41 resistance level. Afterwards, we expect it to move downward with its peers in the Smar...
YRC Worldwide (YRCW) announced today that its subsidiary, Holland, has plans to hire nearly 1,000 drivers during 2011. The available positions will be open at Holland service centers in the Midwest and Southeast. According to YRCW, the hiring initiative is the company's bid to further increase its shipments following its strong fourth quarter performance. Currently, Holland employs approximately 1,700 over-the-road drivers and approximately 5,000 city drivers. Shares are up 10.57% to $2.08.
Jun 30, 2010 -- YRC Worldwide (YRCW) said on Tuesday its outlook was improving, despite shutdown costs associated with the sale of its logistics business, according to Reuters. YRCW said due to the $37 million sale of YRC Logistics to Austin Ventures, it estimates it will incur about $9 million to $11 million of one-time shutdown costs, which consist primarily of lease terminations, severance and asset writedowns, including about $5 million to $7 million in cash charges. These charges are expected to be recognized in Q2 and the non-cash portion of the charges will be added back to net income to determine consolidated EBITDA for purposes of the company's credit agreement, YRCW said, according to Reuters. It still believes it will generate positive adjusted EBITDA in Q2, inclusive of the shu...