YRC Worldwide Inc (YRCW)

[Seminole Red]

YRC has been fighting the specter of bankruptcy amid drawn-out freight recession and customer defections. It has laid off thousands, cut wages, sold property, made 10 credit agreement amendments and gotten two vital concessions from union workers this year. It’s nearing an Oct. 13 deadline to meet a lender requirement that YRC have liquidity of at least $100 million.

Union and nonunion workers took 10 percent paycuts in January. In August, union workers agreed to an additional 5 percent pay cut, plus forfeiting 18 months of pension payments — saving YRC an estimated $825 million through 2010.