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[QUOTE]Originally posted by invester: [QB] $5.08 after hours!!!!!! Huge news!!!! YRC Worldwide (YRCW) 4.68 +0.18 : Co announced that its union employees represented by the International Brotherhood of Teamsters have voted overwhelmingly to modify the current labor agreements for the company's Yellow Transportation, Roadway, Holland and New Penn business units. The modified contract includes a 10% reduction in all wages paid, inclusive of scheduled increases, and the suspension of cost of living adjustments (COLA) for the remaining life of the contract. The co expects to achieve $220-250 mln in annual savings from its labor contract modification during the remaining term of the contract in addition to the $75-85 mln in savings in 2009 from the non-union compensation reductions that were effective January 1, 2009. The co also expects to improve 2009 operating income by a run rate of $200 mln from the integration of the Yellow Transportation and Roadway networks that is expected to be complete in early spring 2009. [/QB][/QUOTE]
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