Getbig.com: American Bodybuilding, Fitness and Figure
Getbig Main Boards => Politics and Political Issues Board => Topic started by: Bindare_Dundat on May 15, 2009, 07:10:46 AM
-
Needs bailout money to cover pension debt
* Has $2 bln in obligations over next four years
* Shares down 2 pct in pre-market trading
(Recasts with company confirmation)
CHICAGO (Reuters) - No. 1 U.S. trucking company YRC Worldwide Inc plans to seek $1 billion in federal bailout money to help it cover its pension obligations, a spokeswoman said Friday.
The company, which has been shedding jobs and closing facilities to cut costs in the face of a brutal U.S. recession faces an estimated $2 billion in pension obligations over the next four years, spokeswoman Suzanne Dawson confirmed