Replies to post #8986 on YRC Worldwide Inc (YRCW)

[RCU]

I agree, except that I'm inclined to say "unconscionably" vague. Yes, it's only an agreement in principle. Yes, any contemplated terms might change dramatically. Nevertheless, it wouldn't have been too difficult to put parameters on the amount of debt and other fixed obligations that are expected to be converted to, or exchanged for, equity. It wouldn't have been too difficult to clarify the extent to which dilution referred to percentage ownership reduction (a given) or the level of discount from market that is expected when common stock is used as a currency in the conversions and exchanges. It wouldn't have been too difficult to indicate whether a TRUE vote of common stockholders will be required or whether series preferred stock will be utilized to nullify the voting rights of common stockholders. The vagueness of the disclosures is beyond belief.