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YRC Worldwide Inc. Message Board

  • realkenathom realkenathom Mar 26, 2010 3:45 PM Flag

    Worth Every Penny!!!

    Billy Z is an LTL Genius... look how much money he was able to save YRC from losing Sequentially by simply losing customer after customer... i hate to think just how successful he will ultimately make YRC and how much his pay will be then....


    He also received stock and options valued by the company at $843,767 when they were awarded in March 2009. At the time, shares were worth $4.26 each. Since then, YRC’s share price has plummeted to less than $1.

    In 2008, Zollars received compensation valued at $2.1 million, including $1.04 million in base salary, $678,600 in bonuses, $171,895 in other compensation, and stock and options valued at $227,539.

    In 2009, Zollars also received 30,420 shares that vested from previous years, representing a value of $83,465. That was not included in the $1.9 million total for 2009.

    The analysis was aimed at emphasizing how much YRC’s board valued Zollars’ total compensation during the fiscal year. It doesn’t include changes in the present value of pension benefits or other totals that the company listed in the summary compensation table filed with the SEC, which reflects the size of the accounting charge taken for Zollars’ compensation in the previous fiscal year.

    During 2009, YRC said it lost $622 million, or $10.44 a share, compared with a loss of $976.4 million, or $16.96 a share, during 2008, though that total included more than $1 billion in impairment charges. Annual revenue fell 41 percent to $5.3 billion.

    The company also narrowly escaped a bankruptcy filing after negotiating 15 percent pay cuts from its union members, getting permission to delay and halt certain pension contributions, shutting down some facilities, laying off 19,000 people and successfully executing an equity exchange that wiped about $480 million in debt from its books.

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