Wednesday, October 8, 2008

Teamsters to Review and Monitor YRC Plans to Combine Yellow and Roadway Operations

September 8, 2008
(Washington, D.C.) – The International Brotherhood of Teamsters will closely review today's announcement by Yellow Worldwide Inc. [Nasdaq: YRCW] that it will combine its Yellow and Roadway freight operations over the next 18 months.

“The Teamsters Union will closely review the potential impact of today’s announcement on the jobs and conditions of our members,” said Tyson Johnson, International Vice President and National Freight Director. “There is a process outlined in the National Master Freight Agreement that the union will utilize to ensure that our member’s are treated fairly throughout what will inevitably be a very difficult process.”

The economy in the past two years has not been supportive of growth in the freight industry. In 2007, it was the third year of flat or negative demand for freight transportation services of all modes. Record fuel costs continue to negatively impact margins. The housing and auto slump have reduced the demand for freight shipments as has the manufacturing turndown and rising unemployment. These are trends that are not likely to see substantial improvement in the remainder of the year.

While we recognize that the Bush administration’s economic policies have had a dramatic negative effect on freight and the entire transportation sector with high fuel prices and reduced economic activity, the Teamsters Union will fight to preserve our members’ jobs and benefits in this restructuring through vigorous enforcement of the freight contract negotiated earlier this year.

The International Brotherhood of Teamsters represents more than 1.4 million hardworking men and women throughout the United States, Canada and Puerto Rico.

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Bret Caldwell (202) 624-6911

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