YRC Worldwide Inc. [NASDAQ: YRCW] announced that it reached the necessary thresholds on its bondholder debt-to-equity exchange offer that concluded today.

The successful exchange is the final piece of a comprehensive restructuring plan that required all key stakeholders – YRCW’s Teamsters and non-union workers, pension funds, secured lenders, and bondholders – to contribute to helping the company weather the worst freight recession in generations.

“Our members have made tremendous sacrifices in leading the way to make this restructuring possible,” said Teamsters General President Jim Hoffa. “Given the circumstances, this is as good of news that we could have hoped for. Today’s announcement that YRCW’s bondholders have agreed to eliminate a significant amount of debt paves the way for the company to re-establish its customer base in the less-than-truckload (LTL) market.”

The successful bond exchange is the culmination of a complex restructuring program in which the Teamsters Union played a leading role over the past 14 months. The Teamsters Union and YRCW reached a labor cost savings agreement in August, and then YRCW reached new terms with its bank lenders at the end of October. Now the bond exchange has successfully concluded.

“Not only did our members do what was necessary to help YRCW, but the Teamsters Union, under the leadership of General President Jim Hoffa, used all its resources to convince the banks and bondholder’s that they too needed to step up and do their part,” said Tyson Johnson, National Freight Director. "Hoffa’s ability to influence actors both behind the scenes and in public made this deal possible.

“All the sacrifices and hard work have paid off with additional liquidity and nearly $500 million of debt off the books. YRCW can now focus on delivering excellent service and winning back customers who were concerned about the company’s financial condition.”

Founded in 1903, the International Brotherhood of Teamsters represents 1.4 million hardworking men and women in the United States, Canada and Puerto Rico.

Delta Air lines Inc. has received government permission to operate its namesake service and its Northwest Airlines subsidiary as a single carrier, a Delta executive said Thursday.

The single operating certificate from the Federal Aviation Administration…

When I heard South Carolina Republican Senator say that Collective Bargaining threatens US security, I thought I’d actually fall off my chair.

We cannot allow them by unanimous consent, to move ahead with the unionization and collective bargaining of our Airport Security.

And there it was, coming out of the mouth of a sitting US Senator, working Americans are a hindrance to National Security. National Security. Come on, repeat that with me, NATIONAL SECURITY.

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Hugo Boss, which manufactures union-made suits in Brooklyn, Ohio, announced it is closing its shop — 300 union jobs will be cut by April 2010.

"Hugo Boss plans to continue to pay the 300 workers in Cleveland to the end of April 2010 even if production needs diminish prior to that date," the company said in a news release. "Beyond this, management intends to work closely with the union to negotiate a fair severance package."

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MOGADISHU, Somalia (AP) — In a setback for U.S. investigators probing links to the attempted attack on a Detroit-bound airliner, a Somali official said Thursday that another suspect who tried to board a plane with chemicals already had been freed….

For almost 12 years, Illinois taxpayers have paid one of the highest per-inmate costs in the country to house what the Department of Corrections says are the 250 worst inmates in the state.

The per-year cost to operate the solitary-confinement-only…

An ex-Barona Gaming Commission employee who killed his former boss before committing suicide this week had been forced out of his job because of workplace romances, it was reported Thursday.

Rodel Rodriguez, who was a commission investigator, as was…

Illinois Firefighter (IAFF) Greg Curry’s elk-hunting adventure in some of Colorado’s most breathtaking countryside kicks off the fourth season of ”Escape to the Wild” on VERUS Country. The season premiere of the show, which takes union members on once-in-a-lifetime hunting and fishing adventures, will air Sunday, Jan. 3, at 9:30 a.m. EST.  

The show is a union-sponsored television series of the Theodore Roosevelt Conservation Partnership (TRCP). “Escape to the Wild” is supported by the Union Sportsmen’s Alliance (USA), a joint venture of the TRCP and 21 unions to promote conservation and access for hunters and anglers.

While the show chronicles each union member’s outdoor adventure, it also gives viewers a look into the lives of the winners—their struggles, their triumphs and their commitment to their union, families and the outdoors. 

Some other lucky winners this year have included Southwest Airlines flight attendant Karen Carrolan, a Transport Workers Union (TWU) member who does all she can to convince other women that hunting is cool, and Bricklayers (BAC) member and Ireland native William Higgins. 

Tune in to VERSUS Country this season as winners pursue exotic Africa game, follow the bugle of bull elk, play tug-of-war with Guatemala sailfish, hunt for caribou on the endless tundra, outwit whitetail across the U.S. and hunt black bear on Vancouver Island. 

Encore airings of each show are on Mondays at 12:30 p.m. and Thursdays at 2 p.m. EST. Check your local listings.

Janitors who clean Delta and United airlines planes at Boston’s Logan International Airport have gone on strike.

The more than 100 Aramark Corp. employees clean toilets and remove trash from planes parked overnight. They say many have received wages…