Yellow 8K YRC Worldwide Reports Year-Over-Year and Continued Sequential Improvement | YELLQ 5 Feb 10

Investor Presentation

February 2010

Exhibit 99.2

Discussion Topics

•

2009 Accomplishments

•

Operating Improvement

•

2010 Cost Reductions

•

Debt Reduction

•

Letters of Credit

•

Customer Confidence

2009 Accomplishments -

Business Performance

2009 Accomplishments -

Business Performance

•

Integration of Yellow and Roadway legacy networks

Right-sized to market volumes by removing redundant facilities

•

Turnaround of Regional Transportation

•

Cost reductions

Two labor contract amendments; market adjustment

Headcount scaling to volumes

Functional organization structure and improved processes

•

Reducing breakeven point

•

Sequential improvement, and now year-over-year improvement

2009 Accomplishments -

Balance Sheet

2009 Accomplishments -

Balance Sheet

•

Credit agreement amendments

•Asset-backed securitization facility renewals

•

Liquidity self-help program -

$636 million

•

Sale of surplus property -

$133 million

•

Sale/Leasebacks -

$332 million

•

Pension contribution deferrals-

$171 million

•

Successful debt-for-equity exchange

•

Debt reduction

National Operating Improvement

YRC National Improvement

•

Integration March 1

•

Network resizing and

stabilization

•

Labor contract changes

•

Non-union cost actions

•

Process improvements

•

Q4 year-over-year improvement

EBITDA, as adjusted* and Qtr/Qtr Shipments

(EBITDA dollars in millions/% change in Qtr/Qtr shipments)

*EBITDA, as adjusted is a non-GAAP measure that reflects the company’s

“Consolidated EBITDA”

as defined in the company’s Credit

Agreement.

These amounts are used for internal management purposes

in connection with the Credit Agreement and should not be construed as a

better measurement than operating income, as defined by generally

accepted accounting principles.

See page 13 for a reconciliation of

EBITDA, as adjusted to operating income (loss).

Regional Operating Improvement

YRC Regional Improvement

•

Q1: Eliminated Holland and New

Penn network overlap in the

northeast

•

Q2 : Holland reduced number of

terminals, increased its focus on

next day business, and

implemented operational

improvements

•

Q3: Contract

changes;

EBITDA

and

operating income positive

•

Q4: EBITDA positive despite

seasonal volume impact

EBITDA, as adjusted* and Qtr/Qtr Shipments

(EBITDA dollars in millions/% change in Qtr/Qtr shipments)

*EBITDA, as adjusted is a non-GAAP measure that reflects the company’s

“Consolidated EBITDA”

as defined in the company’s Credit

Agreement.

These amounts are used for internal management purposes

in connection with the Credit Agreement and should not be construed as a

better measurement than operating income, as defined by generally

accepted accounting principles.

See page 13 for a reconciliation of

EBITDA, as adjusted to operating income (loss).

2010 Cost Reductions

•

Cost Reduction Target Areas

•

SG&A reductions

•

Safety improvements

•

Operational process improvements

Note: 4Q09 as reported benefit $15 million

Debt Reduction

Note1:

Cash-based

maturities

$814

million

consist

of:

Notes

$67,

IDB

$6,

Pension

Debt

$153,

and

Revolver//Term

Loan/ABS

(bank

debt)

$588

Note 2 : 2009 Self-help liquidity program added: Pension Debt of $153 million, and Sale/Leaseback debt of $319 million; total $472 million

•

Achieved a $217 million reduction in balance sheet debt

•

Cash-based debt maturities reduced $536 million, when excluding

sale/leaseback debt

Letters of Credit

•

Letters of Credit backstop our self-insurance obligation to insurers

•

Q1: $130 million increase triggered by credit concerns by insurers

•

Q2 thru Q4: SWAT team focus resulted in $53 million reduction

•

2010: Further improvements from improving YRCW credit ratings

2010 Rating Agency Actions

•

Moody’s

•

Moved to Stable Outlook

•

Caa3, unchanged

•

S&P

•

Taken off CreditWatch

•

CCC-

from CC

•

Developing Outlook

Note: December 2008 credit ratings: Moody’s Caa3 Negative Outlook , S&P CCC positive outlook

Customer Confidence

•

In January, independent research firm surveyed key

transportation decision makers and influencers across

YRCW’s entire customer base to better understand:

•

Anticipated business volumes in 2010; and

•

Intent to use YRCW

•

5,700 respondents

•

83% are sole or shared transportation decision makers

•

62% optimistic their 2010 business levels will increase

•

85% intend to increase or maintain their YRCW volumes

Customer Confidence

Forward-Looking Statements

This presentation contains forward-looking statements. The words “improvements,” “believe,” “will,” “expect,” “anticipate” and similar expressions are intended to

identify forward-looking statements.

The company’s future results could differ materially from any results 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, 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 SEC, including the company’s Annual Report on Form 10-K for the year ended December 31, 2008.

The company's expectations regarding its credit rating are only its expectations regarding this matter. The company's actual credit ratings are determined by rating

agencies, which the company does not control.

The company’s expectations regarding the impact of, and the service and operational improvements and collateral and cost reductions due to, the integration of

Yellow Transportation and Roadway, improved safety performance, right-sizing the network, consolidation of support functions, the company’s credit ratings and the

timing of achieving the improvements and cost reductions could differ materially from actual improvements and cost reductions based on a number of factors,

including (among others) the factors identified in the prior paragraphs above, 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 and programs, the company’s ability to successfully reduce collateral requirements for its

insurance programs, which in turn is dependent upon the company’s safety performance, ability to reduce the cost of claims through claims management, the

company’s credit ratings and the requirements of state workers compensation agencies and insurers for collateral for self insured portions of workers compensation

programs, 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.

Operating Income (Loss) to EBITDA, As Adjusted

Workdays are the number of calendar days during each quarter exclusive of weekends and holidays

EBITDA margin is EBITDA divided by operating revenue expressed as a percentage

EBITDA per workday is EBITDA divided by the workdays

Investor Presentation

February 2010

Yellow (YELLQ) 8-KYRC Worldwide Reports Year-Over-Year and Continued Sequential Improvement