After the market closed Monday, Landstar System Inc. (NASDAQ: LSTR) announced the resignation of CFO Kevin Stout, effective immediately. The filing with the Securities and Exchange Commission stated that Stout would transition into the role of special adviser to President and CEO Jim Gattoni.
Gattoni, previously CFO from 2007 to 2014, will serve as the company’s principal financial officer until a replacement is found.
A spokesperson with Landstar said Stout “made a personal decision to...
Less-than-truckload (LTL) carrier YRC Worldwide (NASDAQ: YRCW) announced a bunch of changes in its third-quarter report — likely none bigger than its draw on the second tranche of a $700 million Treasury loan.
After months of scrutiny over the Treasury’s underwriting of a relief loan to YRC and the Defense Department’s designation that the carrier was a “business critical to maintaining national security,” a classification allowing it to qualify for the loan, YRC has drawn the first $75 million...
https://s29755.pcdn.co/news/yrc-rolls-new-name-fleet-cfo-board-seats-into-q3-report
Less-than-truckload (LTL) carrier YRC Worldwide (NASDAQ: YRCW) announced that it has drawn $75 million in funds from the $400 million second tranche of the $700 million Treasury loan it received as part of the government’s pandemic relief lending program.
On Monday, the Overland Park, Kansas-based company reported a third-quarter loss of just $2 million, or 4 cents per share, significantly better than consensus estimates of a loss of 25 to 28 cents per share. The result was also much improved...
https://s29755.pcdn.co/news/yrc-taps-loan-agreement-for-fleet-investment