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				YRC CFO disputes near-bankruptcy buzz
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					Posted: 
					
						Mar 22, 2011 10:11 AM
					
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					Last Updated: Mar 27, 2012 08:33 AM
				
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				<p>KANSAS CITY -- Beleaguered LTL heavyweight YRC isn't any closer to bankruptcy despite a recent announcement that it experienced a &quot;milestone failure&quot; in new labor and cost restructuring efforts.</p>
<p>William Trubeck, YRC board member and interim chief financial officer, <a target="_blank" href="http://www.nasdaq.com/aspx/company-news-story.aspx?storyid=201103211817dowjonesdjonline000380&amp;amp%3Btitle=yrc-board-member-trubeck-optimistic-company-can-complete-restructuring "><span style="color: rgb(51, 51, 153); ">told Dow Jones News Service</span></a> Monday that he's optimistic the company will survive and downplayed a warning in YRC's annual report that lenders <a target="_blank" href="http://www.todaystrucking.com/news.cfm?intDocID=25902"><span style="color: rgb(51, 51, 153); ">could declare the company in default</span></a> on loan covenants. <br />
<br />
In the filing, YRC outlined several outcomes from Chapter 11, which could inevitably spell the end of the company:</p>
<p>&quot;It looks to me like (lenders, the Teamsters, and others) are working toward the same goal, which is to pull this thing together, without pushing YRC into bankruptcy,&quot; he told Dow Joes.</p>
<p>&quot;Nobody benefits or is anxious to see YRC go out of business.&quot;&nbsp;</p>
			
				
				
			
				
				
			
			
			
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