Teamsters Endorse YRCW Bank Amendment

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Mon Nov 2, 2009 10:38am EST

Company Makes Major Strides in Restructuring

WASHINGTON, Nov. 2 /PRNewswire-USNewswire/ -- The International Brotherhood of
Teamsters today endorsed YRCW's (NASDAQ: YRCW) bank amendment as part of its
continuing restructuring. The announcement follows the commitment and
sacrifices that more than 35,000 YRCW Teamsters have made to ensure the
company's survival.

The Union has worked with YRCW for the past year as it has struggled during
the worst freight economy in generations. Today's announcement that YRCW has
reached agreement with its lenders and has developed a road map to deal with
its bond holders is welcomed progress.  

"YRCW Teamster members did their part. The union has worked hard to make sure
the other YRCW stakeholders recognized our members' sacrifices and responded
in kind to do their part in ensuring YRCW's survival," said James P. Hoffa,
Teamsters General President.

"YRCW's comprehensive restructuring would not have been possible without the
support of our members, said Tyson Johnson, Director of the Teamsters Freight
Division. "All YRCW Teamsters should recognize their leading role in the
restructuring effort. Their perseverance should be commended."   

"As we've said before, those companies in the industry that have been slashing
prices - and the analysts that have been very anxious to write YRCW's obituary
- need to recognize that today is a new day. The workers, pension funds,
lenders, and bondholders have proven their ability to pull together to
restructure this company - which can only lead to increased confidence among
shippers," Johnson said. 

Founded in 1903, the International Brotherhood of Teamsters represents 1.4
million hardworking men and women in the United States, Canada and Puerto
Rico. 



SOURCE  International Brotherhood of Teamsters

Galen Munroe of the International Brotherhood of Teamsters, +1-202-624-6904,
gmunroe@teamster.org
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