Yellow (YELLQ) 8-K BB&T Capital Markets Transportation Conference

Bill Zollars

Chairman, President & CEO

BB&T Capital Markets Transportation Conference

February 11, 2009

Exhibit 99.1

2

Brand Recognition

YRC Worldwide is a $9 billion provider of global transportation services,

transportation management solutions, and logistics management

through a portfolio of successful brands.

3

2008 –

a Platform for Opportunity

•

Last year was challenging for most industries, specifically

transportation

•

Our scale and position in the market led to financial headwinds that

ultimately accelerated some significant opportunities

Integration of Yellow Transportation and Roadway, now marketed 

as YRC

Redesign of the YRC Regional footprint that improved service and

reduced cost

Additional investments in China

Realignment of nonunion benefits across the companies

Further consolidation of back-office functions

Enhanced partnership with the union and ability to improve

competitiveness of our cost structure

4

Financial Benefits

•

The actions put in place in 2008 exceeded our goal of $100 million of

cost savings

Unfortunately the economic recession overshadowed the benefits

•

The 2009 actions should result in even more improvements

$200 million run rate by early in the fourth quarter from the National

integration

$220 -

$250 million annual cost savings from union wage reductions

effective January 2009

$75 -

$85 million annual cost savings from nonunion compensation

reductions effective January 2009

•

In 2010 our operating results should improve by more than $500 million

This is entirely from our internal actions and does not assume any

economic recovery

5

Integration Status

Planning Stage

Combined numerous

physical locations

Dedicated team

working on data

conversion for 2 years

Formed one National

leadership team

Pilot consolidations in

Canada

First Wave

Smaller end-of-line

facilities

Focus on P&D and

dock functions

Technology upgrades/

data conversion ready

Field organization

structure in place

Lower risk and smaller

portion of savings

Second Wave

Larger facilities &

distribution centers

Focus on P&D and

linehaul functions

Learning curve benefit

lowers risk

Larger portion of

expected savings

$200 million includes

additional, significant

headcount reductions

Complete

Complete

March 1, 2009

6

Integration Numbers

•

After integration YRC will have more operations than either Yellow or Roadway had

individually

yet

over

250

fewer

than

at

the

original

acquisition

date.

•

We will continue to further optimize the network and expect around 400 operations

•

As of now, we have over 100 consolidations either done or in process

•

Annual cost base of Yellow and Roadway is $6.3 billion; $200 million of savings is 3% 

1Q09

2Q09

3Q09

4Q09

$10

$75

$175

$200

Annual Run Rate Benefit

(in millions)

12/31/03

12/31/08

3/31/09

12/31/09

Number of National

Operations*

704

551

~450

~430

*represents the number of distinct operations; does not equal physical locations

7

•

On-time service in Tucson improved by 0.4% and missed pick ups declined significantly

•

Overall

the

consolidated

operations

have

an

average

of

9%

higher

P&D

productivity

than

the

system

Integration Example

Before Integration

(2 Facilities, 2 Operations)

Tucson, AZ

Y

R

After Integration

(1 Facility, 1 Operation)

Tucson, AZ

YRC

Tucson, AZ - Actual Results:

Yellow

Roadway

YRC

Change

Management

4

3

5

-28.6%

P&D Drivers

8

10

13

-27.8%

Tractors

10

10

17

-15.0%

Shipments/Month

2,788

1,790

4,613

0.8%

P&D Productivity (bills/hour)

2.70

2.55

3.38

28.8%

Before Integration

After Integration

Tim Wicks

Executive Vice President & CFO

9

Liquidity

Free Cash Flow*

(in millions)

2004

2005

2006

2007

2008

$287

$253

$235

$61

$185

* Free cash flow and net debt are non-GAAP measures.  Free cash flow is

calculated as net cash from operating activities plus stock option proceeds

less net capital expenditures.  Net debt is calculated as total debt less cash

per the balance sheet.  Refer to the company’s earnings releases filed with the

SEC for further details.

•

2008 highlights:

•

$185 million in free cash flow

•

Asset proceeds of $128 million

•

Reduced net debt* by $140 million

•

$325 million of cash at 12/31/08

•

2009 expectations:

•

Another $100 million of excess

property proceeds

•

Significant sale/leaseback

transactions, including $150 million

already finalized

•

No significant debt maturities until

April 2010

Even in a

recession we

can generate

positive cash

10

Capital Expenditures

•

2009 cap ex significantly less due

to integration

•

Older equipment will be

removed, enhancing average

age of fleet

•

After $100 million of expected

asset proceeds, net cap ex around

$30 million

•

We will continue to evaluate the

appropriate balance between

leasing opportunities and

purchases

Gross Capital Expenditures

(in millions)

2005

2006

2007

2008

2009E

$378

$394

$246*

$130

$305

*Includes $84 million financed through lease arrangements

11

Bank Discussions

•

Discussions are progressing well and we still expect to finalize

an

amendment by mid-February

•

This will include the early renewal of our ABS facility

•

The banks are very supportive of our strategic initiatives to improve our

financial condition and enhance our market position

•

We have been conservative in our view of economic recovery and based all

financial improvements on our internal actions

•

The waivers obtained on January 15, 2009 provided us with the flexibilities

needed to continue with our planned actions

•

Including the ability to use the approximately $150 million from

the sale and

financing leaseback for operating purposes

12

Summary

•

Despite the continued downturn in the economy, YRC has unique levers to

enhance its market position and improve its financial condition

The integration of Yellow and Roadway should significantly reduce our cost base

while enhancing service to our customers

The flexibilities in our labor agreement have never existed before and allow us to

compete more effectively with nonunion carriers, even more so with the recent

wage reductions

•

Continued focus on YRC Regional opportunities to improve growth and further

efficiencies

•

YRC Logistics remains focused on global growth with an emphasis in China

•

We are aggressively addressing our near-term liquidity and removing a

significant amount of cost from the business

Bank discussions are nearing completion

No significant debt maturities until April 2010

•

We expect to be well positioned when the economy improves

13

Forward-Looking Statements

•

This

presentation

contains

forward-looking

statements

within

the

meaning

of

Section

27A

of

the

Securities

Act

of

1933,

as

amended,

and

Section

21E

of

the

Securities

Exchange

Act

of

1934,

as

amended.

The

words

“should,”

“expectations,”

“expect,”

“can,”

“will,”

and

similar

expressions

are

intended

to

identify

forward-looking

statements.

It

is

important

to

note

that

the

company's

actual

future

results

could

differ

materially

from

those

projected

in

such

forward-looking

statements

because

of

a

number

of

factors,

including

(among

others)

inflation,

inclement

weather,

price

and

availability

of

fuel,

sudden

changes

in

the

cost

of

fuel

or

the

index

upon

which

the

company

bases

its

fuel

surcharge,

competitor

pricing

activity,

expense

volatility,

including

(without

limitation)

expense

volatility

due

to

changes

in

rail

service

or

pricing

for

rail

service,

ability

to

capture

cost

reductions,

including

(without

limitation)

those

cost

reduction

opportunities

arising

from

the

combination

of

sales,

operations

and

networks

of

Yellow

Transportation

and

Roadway,

changes

in

equity

and

debt

markets,

a

downturn

in

general

or

regional

economic

activity,

effects

of

a

terrorist

attack,

labor

relations,

including

(without

limitation),

the

impact

of

work

rules,

work

stoppages,

strikes

or

other

disruptions,

any

obligations

to

multi-employer

health,

welfare

and

pension

plans,

wage

requirements

and

employee

satisfaction,

and

the

risk

factors

that

are

from

time

to

time

included

in

the

company's

reports

filed

with

the

Securities

and

Exchange

Commission

(the

"SEC"),

including

the

company's

Annual

Report

on

Form

10-K

for

the

year

ended

December

31,

2007.

•

The

company’s

expectations

regarding

the

impact

of,

and

its

operating

income

and

service

improvements

due

to,

the

integration

of

Yellow

Transportation

and

Roadway

and

the

timing

of

achieving

that

improvement

could

differ

materially

from

those

projected

in

such

forward-looking

statements

based

on

a

number

of

factors,

including

(among

others)

the

factors

identified

in

the

immediately

preceding

paragraphs,

the

ability

to

identify

and

implement

cost

reductions

in

the

time

frame

needed

to

achieve

these

expectations,

the

success

of

the

company’s

operating

plans,

the

need

to

spend

additional

capital

to

implement

cost

reduction

opportunities,

including

(without

limitation)

to

terminate,

amend

or

renegotiate

prior

contractual

commitments,

the

accuracy

of

the

company’s

estimates

of

its

spending

requirements,

changes

in

the

company’s

strategic

direction,

the

need

to

replace

any

unanticipated

losses

in

capital

assets,

approval

of

the

affected

unionized

employees

of

changes

needed

to

complete

the

integration

under

the

company’s

union

agreements,

the

readiness

of

employees

to

utilize

new

combined

processes,

the

effectiveness

of

deploying

existing

technology

necessary

to

facilitate

the

combination

of

processes,

the

ability

of

the

company

to

receive

expected

price

for

its

services

from

the

combined

network

and

customer

acceptance

of

those

services.

•

The

company’s

expectations

regarding

the

savings

to

be

generated

from

compensation

and

benefit

reductions

taken

by

both

union

and

non-union

employees

are

only

its

expectations

regarding

this

matter.

Actual

savings

generated

will

depend

on

the

actual

number

of

employees

working,

which,

in

turn,

is

dependent

on

business

volumes

and

needs.

•

The

company’s

expectations

regarding

having

sufficient

liquidity

are

only

its

expectations

regarding

this

matter.

Actual

liquidity

levels

will

depend

upon

the

company’s

operating

results,

the

timing

of

its

receipts

and

disbursements,

the

company’s

access

to

credit

facilities

or

credit

markets,

including

(without

limitation)

successful

amendment

and

renewal

of

the

company’s

existing

credit

facilities,

cash

received

as

a

result

of

asset

dispositions,

capital

market

transactions,

such

as

opportunistically

repurchasing

additional

portions

of

the

company’s

outstanding

notes

using

company

common

stock,

equity

issuance

transactions

or

new

debt

offerings

to

refinance

existing

debt,

successful

termination

of

the

company’s

captive

insurance

company,

the

company’s

cash

needs

to

fund

operations,

any

cash

funding

needs

for

bank

amendments

and

related

restructuring

activities

and

any

collateral

requests

from

third

parties

such

as

insurers,

state

workers

compensation

departments

and

vendors.

•

The

company’s

expectations

regarding

future

asset

dispositions

and

sale

and

leasebacks

of

real

estate

are

only

its

expectations

regarding

this

matter.

Actual

dispositions

will

be

determined

by

the

availability

of

capital

and

willing

buyers

and

counterparties

in

the

market

and

the

outcome

of

discussions

to

enter

into

and

close

any

such

transactions

on

negotiated

terms

and

conditions.

•

The

company’s

expectations

regarding

its

gross

capital

expenditures

are

only

its

expectations

regarding

these

items.

Actual

expenditures

could

differ

materially

based

on

a

number

of

factors,

including

(among

others)

the

factors

identified

in

the

preceding

paragraphs.

•

The

company’s

expectations

regarding

an

amendment

and

renewal

to

its

credit

facilities,

the

date

of

the

amendments

and

the

terms

that

may

be

contained

in

the

amendments

are

only

its

expectations

regarding

these

matters.

Whether

the

company

and

its

banks

actually

enter

into

amendments

is

entirely

dependent

on

the

outcome

of

their

discussions

and

approval

of

a

majority

in

interest

of

the

participating

banks.