TRUCKING INDUSTRY * USA - Truckload Carrier Celadon Signs $50 Million Credit Deal

Agreement with lender boosts trucker's liquidity, financial flexibility

Indianapolis,IN,USA -The Journal of Commerce Online, by William B. Cassidy -Dec 10, 2010: ... Celadon Group secured a $50 million, five-year revolving credit facility from Bank of America, giving the truckload carrier increased liquidity and financing flexibility... The deal refinances the Indianapolis-based company's existing credit agreement and provides funds for working capital, Celadon said Thursday... Tight truckload capacity, higher rates and new customers helped Celadon Group boost net income 69 percent from the second quarter to the third quarter, despite only a slight increase in sales... The company reported a $4.4 million profit on $140.3 million in revenue for the third quarter...

* USA - Letters Show Teamsters Considered ABF-YRC Merger

Washington,DC,USA -The Journal of Commerce Online, by William B. Cassidy -Dec 10, 2010: -- Hoffa suggested union could assist if ABF wanted to buy YRC Worldwide...  Letters submitted as evidence in court indicate the Teamsters union was willing to help ABF Freight System purchase struggling YRC Worldwide earlier this year...  Teamsters General President, James P. Hoffa, said in an Aug. 13 letter to Arkansas Best President and CEO Judy R. McReynolds, said the union had assembled a group of senior Teamster officers, financial restructuring advisors, pension experts and corporate and labor law counsel to advise ABF...  The Aug. 13 letter and other documents were filed as part of the declaration of Teamster attorney, James A. McCall, in federal court in Arkansas, where the courtroom showdown between ABF, YRC and the Teamsters begins Dec. 16...