COVID Stimulus Watch Individual Entry
Recipient Company:
YRC Worldwide
Loan or Loan Guarantee Amount:
$700,000,000
Recipient Details
Ownership Structure: publicly traded (ticker symbol YRCW)
Award Details
Award Date: Jul 2, 2020
Award Type: loan
Award Details: The Treasury Department made a $700 million loan to YRC Worldwide, which provides trucking services to the Defense Department, under the provision of the CARES Act meant to help firms deemed essential to national security. In exchange, the federal government received a 29.6 percent stake in YRC.
Program Name: Coronavirus Economic Stabilization Act-National Security
Legislation: CARES
Awarding Agency: Treasury Department
Data Source for Award:
https://home.treasury.gov/news/press-releases/sm1049
Parent Company Data
Parent Company: YRC Worldwide
Headquartered in: Kansas
Parent Sector: freight and logistics
Parent Industry: freight services
Employees (prior to pandemic): 29,000
Accountability Issues Since 2010
Employment-related Penalties: $52,961,083
Good Jobs First has no data in this category
Environmental / Healthcare / Safety Penalties: $865,864
Consumer Protection / Financial / Competition-related Penalties: $65,000
Ratio of CEO Pay to that of Median Worker: 24.9 to 1
CEO Compensation: $2,118,469
Worker Median Pay: $85,014
Total Federal, State, and Local Subsidies: $380,180
Violation Tracker
Tax / Subsidy Issues
Contracting Issues
Environment / Safety Issues
Consumer Protection Issues
CEO Pay Issues