Friday, January 29, 2010

TheStreet.com calls YRC a 'punching bag'

Posted By on Fri, Jan 29, 2010 at 5:00 AM

click to enlarge yrcw_hybrid_large2.jpg

A writer at TheStreet.com takes a skeptical view of YRC Worldwide's ability to keep its trucks on the road.

Overland Park-based YRC is offering shippers a money-back guarantee that deliveries will arrive on schedule. TheStreet.com calls the offer a "transparent move" to reassure customers reluctant to do business with the artist formerly known as Yellow after its brush with bankruptcy.

YRC's Chairman and CEO Bill Zollars said recently that shippers were returning "aggressively" and that "bankruptcy is not on our radar screen now."

Yet Robert Holmes, a writer at TheStreet.com, quotes analysts who think YRC's balance sheet continues to look pretty ghastly. "[E]ven the most bullish investors can't deny that YRC Worldwide has been the punching bag of short traders operating on the belief the company

wouldn't solve its liquidity problems," Holmes writes.

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