This company will be history within 11 months. Please remember this company has been allowed to defer most bank payments in 2010 and still did not make money. They were also excused from paying into the MEP and still did not show a profit. They're currently looking for a loan to refinance their debt, and they're having a very hard time getting it done. The banks still have not definitively said they'd continue to allow YRCW to NOT make their principle and interest payments in 2011. The company must begin making partial contributions to the pension plan in late Q2. Where are they going to get that money.
Everything about this company points to death. I know what part of this you don't like, but what is it that you cannot understand?
I think it is not fair that FEd did not borrow moeny for YRCW, instead to Banks and banks lend the money to YRCW with very high interest rate. Remember YRCW hires over 50k employees about two years back. Why YRCW can ask rescue funds to save the company. If you think about dilution by the onwership of goverment. The recap is the same thing with even wrose terms to the company.
I really doubt if the FED really listened to what the american people are saying.