I've made no secret in the past that I think less-than-truckload trucking company Old Dominion (NASDAQ:ODFL) is one of the best-run companies out there. In contrast, the largest less-than-truckload carrier, YRC Worldwide (NASDAQ:YRCW), is very definitely *not* one of the best-run companies out there. With the shares trading at only a shadow of their former value and real concerns about whether the company can manage an upcoming liquidity squeeze, a lot of investors have written off YRC Worldwide.
I'm pretty much on board with that thinking. I am not all that certain that bankruptcy is inevitable. A pre-packaged bankruptcy filing could certainly become an option as the company struggles under the weight of over $1 billion...
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