The latest report from the congressional oversight commission monitoring COVID-relief loans, including the $700 million loan made to less-than-truckload carrier YRC Worldwide (NASDAQ: YRCW), finds shortcomings in the decision-making process on behalf of the Defense and Treasury departments.
The main sticking points for the commission have been the designation of YRC as a company “critical to maintaining national security” and the Treasury Department’s underwriting of a loan to provide...
https://www.freightwaves.com/news/national-security-designation-for-700m-yrc-loan-amiss