COVID Stimulus Watch Individual Entry

Individual Award Data

Recipient Company:  YRC Worldwide
Parent Company:  YRC Worldwide
Award Date:  Jul 2, 2020
Award Type:  loan
Loan or Loan Guarantee Amount:  $700,000,000
Awarding Agency:  Treasury Department
Program Name:  Coronavirus Economic Stabilization Act-National Security
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.

Parent Company Data

Ownership Structure:  publicly traded (ticker symbol YRCW)
Headquartered in:  Kansas
Parent Sector:  freight and logistics
Parent Industry:  freight services
Employees (prior to pandemic):  29,000

Parent Accountability Issues Since 2010

Employment-related Penalties:  $51,411,083
Environmental / Healthcare / Safety Penalties:  $707,167
Consumer Protection / Financial / Competition-related Penaties:  $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