Yellow (YELLQ) 8-K Regulation FD Disclosure

Investor Presentation

Investor Presentation

March  2010

Exhibit 99.1

2

Discussion Topics

Discussion Topics

•

Accomplishments

•

Operating Improvement

•

Cost Reductions

•

Capital Structure

•

Customer Confidence

•

Critical Success Factors

3

Accomplishments -

Business Performance

Accomplishments -

Business Performance

•

Integration of Yellow and Roadway legacy networks

Right-sized to market volumes by removing redundant facilities

Service improvement

•

Turnaround of Regional Transportation

•

Cost reductions

Two labor contract amendments; market adjustment

Equity awards

Headcount scaling to volumes

Functional organization structure and improved processes

•

Reducing breakeven point

•

Sequential improvement, and now year-over-year improvement

4

Accomplishments -

Balance Sheet

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

•

Debt-for-equity exchange

•New notes satisfy remaining note obligations

YRCW Consolidated Operating Trends

YRCW Consolidated Operating Trends

5

EBITDA, as adjusted*, and Qtr/Qtr Revenue

(EBITDA dollars in millions / % change in Qtr/Qtr Operating Revenue)

*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).

•

Improvement driven across all

operating companies

•

Qtr/Qtr, and now Yr/Yr improvement

•

Lowering breakeven point

•

Improved service capabilities

6

2009 Performance / 2010 Cost Program

2009 Performance / 2010 Cost Program

Note: 4Q09 as reported gross benefit $15 million; cost program excludes

benefits from network changes; 4Q09 network consolidations expected to

produce $20 million annual benefit in 2010.

2010 Cost Program, now $300 million

•

SG&A reductions

•

Safety improvements

•

Operational process improvements

2009 Performance

•Successfully scaling headcount

•Integration

•Functional organization

•Process improvements

7

Debt Reduction

Debt Reduction

Note1: Cash-based maturities of $814M consist of: Remaining Notes $67M, IDB $6M, Pension Debt $153M, and Revolver/Term Loan/ABS (bank debt) $588M

Note 2: Self-help liquidity program added: Pension Debt of $153M (net of asset sale pay downs) and Sale/Leaseback debt of $319M; total $472M

•

Achieved a $217 million reduction in total balance sheet debt

•

Cash-based debt maturities reduced $536 million

•

New notes satisfy remaining notes obligation

$536m

$217m

8

Outstanding Shares

Outstanding Shares

•

12.30 Pro forma is prior to completion of the debt-for-equity exchange;  outstanding common

shares approximately 60 million

•

12.31 Pro forma is after the completion of the debt-for-equity exchange; pro forma common

shares approximately 1 billion (as converted)

•

02.23 Pro forma is after the $70 million funding related to the new notes; pro forma common

shares approximately 1.2 billion (as converted)

Note:  Pro forma market value of YRCW stock using $ 0.43 conversion rate from new  notes

•

Note exchange increased our

market cap by more than $400

million

•

Outstanding shares approximately

1 billion, after conversion of

preferred stock

•

Expect to effect a reverse stock

split during Q2, approved range is

25:1 to 5:1

•

Post-split outstanding shares at

40 million  to 200 million vs.

1 billion currently 

9

Customer Confidence

Customer Confidence

•

In January, an independent research firm conducted a survey

of 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

10

Customer Confidence

Customer Confidence

11

Critical Success Factors

Critical Success Factors

Factor

Expectation or Potential Uncertainty

Economic recovery

Modest growth vs. no growth or decline

Diesel prices

Stable vs. run-up in price

Return of customers

Timing and degree of market share regained

Cost initiatives

On or better than target

Revenue mix

Rate and timing of improvements

Service levels

Continuation of current exceptional performance

Process improvements

SWAT teams continue to drive performance

Sales team structure

New design improves market penetration

12

Forward-Looking Statements

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.

The

company’s

expectations

regarding

the

incremental

cost

savings

due

to

facility

closures

are

only

its

expectations

regarding

this

matter.

Actual

savings

could

differ

based on a number of factors including (among others) the company’s ability to enter into, and the terms of, lease termination agreements for the leased properties, our

ability to enter into agreements to sell the owned properties and our ability to identify all costs related to the closing of the facilities.

The

company’s

expectations

regarding

the

timing

and

ratio

of

a

reverse

stock

split

are

only

its

expectations

regarding

these

matters.

The

actual

timing

and

ratio

of

any

reverse stock split approved by the company’s board of directors could differ based on a number of factors including (among others) the closing bid price of the company’s

common stock and the factors that affect the price of the company’s common stock including (among others) actual or expected fluctuations in the company’s operating

results, changes in general economic condition or conditions in the company’s industry generally, changes in conditions in the financial markets, the effect of any issuance

of

additional

shares

of

the

company’s

common

stock.

The

agreements

related

to

the

company’s

new

6%

convertible

senior

notes

due

2014

restrict

the

company

from

implementing a reverse stock split prior to April 24, 2010.

The

company’s

expectations

regarding

the

second

closing

of

the

new

notes

are

only

its

expectations

regarding

this

matter.

The

closing

of

the

second

$20.2

million

of

the

notes is subject to a number of conditions, including (among others), a determination of the outcome of the company’s litigation with respect to its outstanding 5% and

3.375% contingent convertible notes.

The

company’s

expectations

regarding

the

timing

and

degree

of

market

share

regained

are

only

its

expectations

regarding

these

matters.

Actual

timing

and

degree

of

market

share regained could differ based on a number of factors including (among others) the company’s ability to persuade existing customers to increase shipments with the

company

and

to

attract

new

customers,

and

the

factors

that

affect

revenue

results

(including

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).

The company’s

expectations

regarding

the

rate

and

timing

of

revenue

mix

improvements

are

only

its

expectations

regarding

these

matters.

Actual

rate

and

timing

of

revenue

mix improvements could differ based on a number of factors including (among others) general economic trends and excess capacity within the industry, and the factors that

affect

revenue

results

(including

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).

Operating Income (Loss) to EBITDA, As Adjusted

Operating Income (Loss) to EBITDA, As Adjusted

13

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.

Operating Income (Loss)  to EBITDA, as adjusted

$ in millions

Q4 '08

Q1 '09

Q2 '09

Q3 '09

Q4 '09

Consolidated

Operating revenue

$      1,929

$      1,503

$      1,328

$      1,306

$      1,146

Operating income (loss), as reported

$        (335)

$        (379)

$        (300)

$        (118)

$          (95)

Non-oper

inc (exp)

4

(4)

(0)

(3)

(2)

(Gains)

losses

on

property

disposals,

net

(addback

to

OI)

(10)

2

(1)

(11)

0

Impairment

(addback

to OI)

200

-

-

-

-

Depreciation

&

amortization

(addback

to

OI)

70

66

64

61

63

Letter of credit expense

(addback

incl

in sal, wages & ben

and

other oper

exp)

2

5

9

9

9

Non-cash stock comp

(addback

incl

in sal, wages & ben)

1

32

(7)

2

2

Interest income

(addback

incl

in non-oper

exp)

(3)

(0)

(0)

(0)

(0)

JHJ/Jiayu

joint venture (inc) exp

(addback

incl

in non-oper

exp)

(1)

1

1

1

1

Feb '09 amdmt/waiver exp

(addback

incl

in non-oper

exp)

-

2

-

-

-

EBITDA

$          (73)

$        (275)

$        (234)

$          (59)

$          (22)

EBITDA margin

-3.8%

-18.3%

-17.6%

-4.5%

-2.0%

National

Workdays

61.5

62.5

63.5

64.0

61.5

Operating revenue

$      1,359

$      1,023

$         874

$         849

$         744

Operating income (loss), as reported

$        (243)

$        (300)

$        (239)

$        (122)

$          (90)

Non-oper

inc (exp)

0

1

0

(1)

(0)

(Gains) losses on property disposals, net

(addback

to OI)

(10)

1

(2)

(11)

(1)

Impairment

(addback

to OI)

141

-

-

-

-

Depreciation & amortization

(addback

to OI)

35

33

32

31

34

Letter of credit expense

1

4

7

7

7

Non-cash stock comp

(0)

22

(6)

(0)

0

Interest income

(0)

(0)

(0)

(0)

(0)

EBITDA

$          (77)

$        (239)

$        (207)

$          (95)

$          (50)

EBITDA margin

-5.6%

-23.3%

-23.7%

-11.2%

-6.8%

EBITDA per workday -

$000's

$         (1,247)

$     (3,816)

$     (3,267)

$     (1,491)

$        (821)

Regional

Workdays

63.5

65.5

62.5

64.0

59.5

Operating revenue

$         419

$         355

$         338

$         339

$         291

Operating income (loss), as reported

$          (24)

$          (74)

$          (48)

$             0

$            (5)

Non-oper

inc (exp)

(2)

0

(0)

(0)

0

(Gains) losses on property disposals, net

(addback

to OI)

(1)

0

1

(0)

1

Depreciation & amortization

(addback

to OI)

16

17

17

16

16

Letter of credit expense

1

1

2

2

2

Non-cash stock comp

-

6

(2)

-

0

Interest income

(0)

(0)

0

(0)

(0)

EBITDA

$          (10)

$          (50)

$          (31)

$           18

$           15

EBITDA margin

-2.4%

-14.1%

-9.1%

5.4%

5.2%

EBITDA per workday -

$000's

$         (156)

$         (762)

$         (490)

$        286

$         254