YRC will not seek federal TARP aid
June 12, 2009, 6:57 AM /
NEW YORK (AP)—The nation’s largest publicly traded trucking company has told its customers it hasn’t applied for a government bailout and doesn’t plan on applying for one, reversing intentions widely reported last month.
Media reports stirred in May that troubled trucker YRC Worldwide—which runs trucks under the names Yellow Transportation and Roadway —would ask for $1 billion in aid from the federal bailout fund, officially known as the Troubled Asset Relief Program, or TARP.
In a letter e-mailed to employees Thursday for distribution to customers, the company said it “has no current intentions of applying for TARP funds.”
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