Rochester,NY 8/31/2009 9:40:25 PM
Arkansas Best Corp. ABFS, YRC Worldwide's Woes a Benefit to Arkansas Best LTL Unit
Arkansas Best Corp.
ABF Freight System, the largest operating unit of Arkansas Best Corp., is negotiating with the Teamsters unit over wage and pension concessions. ABF, the nation's sixth-largest LTL company with $1.83 billion revenue last year, operates in the same troubled, unionized, long-haul LTL segment that YRC Worldwide.
Financially ailing YRC recently obtained a five-year 15 percent wage cut as well as an 18-month pension freeze, savings that could amount to nearly $900 million a year for YRC.
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