8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) May 19, 2009

YRC Worldwide Inc.

(Exact name of registrant as specified in its charter)

Delaware	0-12255	48-0948788
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

10990 Roe Avenue, Overland Park, Kansas 66211

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code (913) 696-6100

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 7.01. Regulation FD Disclosure

On May 19, 2009, William D. Zollars, Chairman, President and Chief Executive Officer of YRC Worldwide Inc. (the “Company”) will deliver a company presentation at the Wolfe Research Global Transportation Conference. The presentation will be available on audio webcast through the Company’s website, www.yrcw.com, and will be available for at least 30 days. A copy of the slide show is attached hereto as Exhibit 99.1 and incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

99.1 YRC Worldwide Inc. Investor Presentation slide show

2

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	YRC WORLDWIDE INC.
Date: May 19, 2009	By:	/s/    Sheila K. Taylor
		Sheila K. Taylor
		Vice President – Investor Relations

3

EXHIBIT INDEX

Exhibit Number	Description
99.1	YRC Worldwide Inc. Investor Presentation slide show

4

EX-99.1

Bill Zollars

Chairman, President & CEO

Wolfe Research Transportation Conference

May 19, 2009

Exhibit 99.1

2

Overview

YRC Worldwide is a $9 billion provider of global transportation

services, transportation management solutions, and logistics

management with nearly 49,000 employees worldwide.

3

Discussion Topics

Pension reform

Bank amendment

Recent analyst reports

Internal initiatives

4

Liquidity

At April 30, our liquidity was well

above the $100 million covenant

Weekly cash usage is decelerating

and well ahead of internal forecasts

Operating loss in April was

significantly less than analysts’

estimates

Apr

May/Jun

Jul

Actual

Forecast

Recent Analyst Reports

4/30/09

3/31/09

Cash - unrestricted

151

$  

249

$  

Availability - revolver

52

24

Availability - ABS

18

3

Liquidity excl restr. cash

221

275

Cash - restricted

36

18

Liquidity incl restr. cash

257

$  

293

$  

5

3/31/09 liquidity

•

Cash

&

restricted

cash

-

$266

million

•

Borrowing availability

-

$27

million

•

Improved collections and

disbursements

Sale leaseback proceeds

•

Q1 Actual -

$158 million

•

Q2 Expected -

over $200 million

Excess property sales

•

$100 million expected in 2009

Liquidity 

No significant debt maturities

until April 2010

Pension payment deferrals

•

Negotiating deferral of multiple

months of union pension payments

(approx. $40 million/month)

6

2009 Capital Expenditures

2009 expected cap ex significantly

less due to integration

•

Older equipment in process of being

removed, enhancing average age of

fleet

After $100 million of expected

asset proceeds, expected 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

$249*

$130

$305

*Includes $87 million financed through lease arrangements

7

Compensation & benefits

Network changes

75

Non-union compensation/benefit reductions

*

$ 665

Est. full year run rate benefit (by end of 2009)

70

Further consolidation of back-office functions

240

Union compensation reductions

30

Regional enhancements

$ 250

Integration of Yellow & Roadway (now YRC)

Annual

Run Rate

Benefit

($ in millions)

On

On

target

target

to

to

improve

improve

operating

operating

income

income

by

by

over

over

$600

$600

million

million

as

as

we

we

exit

exit

2009

2009

* This represents the estimated impact from the 10% salary/wage reductions and 401(k) match changes implemented during 2009.

Internal Initiatives

8

8

YRC Integration -

Productivity

On-time delivery levels continue to

improve; approaching record highs

Load Average

Dock Bills/hr

Pickup & Delivery Bills/hr

Week-to-date Actual                             Daily Actual                      

9

YRC Integration

The integration of Yellow and Roadway was the most significant transformation in LTL history and

laid the groundwork for tremendous opportunities for YRC going forward.

YRC has the most comprehensive network in the industry with 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 by year end,

resulting in a meaningful reduction in fixed and variable costs.

1Q09

2Q09

3Q09

4Q09

$0

$90

$200

$250

Annual Run Rate Benefit

(in millions)

12/31/2003

12/31/2008

3/1/2009

12/31/2009

Number of National Operations*

704

551

~450

~400

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

10

Operating Environment Update

Economy remains very weak

•

No significant signs of near-term improvement

•

Some indications of hitting the bottom, though too early to confirm

Volume trends similar to March

•

National

Some diverted shipments returning post integration of Yellow and

Roadway networks

Absolute volumes have not changed significantly from end of Q1

•

Regional

Experiencing some seasonal improvement but no meaningful year-over-year change

Pricing environment continues to be competitive

11

Bank

group

remains

supportive

of

our

strategies

and

“self

help”

approach

YRCW has unique levers to enhance its market position and improve its

financial condition

•

Most notably, the integration of Yellow and Roadway

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 expect to be well positioned when the economy improves

Summary

12

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,”

“anticipate,"

“expect,”

“can,“

"will”,

“forecasts”,

“estimated”

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, including the company's Annual Report on Form 10-K for the year ended

December 31, 2008.

•

The company’s

expectations

regarding

the

impact

of,

and

its

operating

income

and

service

improvements

due

to,

the

integration

of

Yellow

Transportation

and

Roadway,

enhancements to the Regional transportation networks and consolidation of back-office functions, 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 paragraph, 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 future asset dispositions and sale and financing leasebacks of real estate are only its expectations regarding these matters.  Actual

dispositions and sale and financing leasebacks 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,

including

(without

limitation)

usual

and

ordinary

closing

conditions

such

as

favorable

title

reports

or

opinions and favorable environmental assessments of specific properties.

•

The company’s

expectations

regarding

its

ability

to

negotiate

the

deferral

of

union

pension

payments

are

only

its

expectations

regarding

this

matter.

Whether

the

company

is

able

to

defer union pension payments is dependant upon the company reaching agreement with the International Brotherhood of Teamsters and representatives of multi-employer defined

benefit pension funds to which the company contributes.

•

The company’s expectations regarding its cash usage and gross capital expenditures are only its expectations regarding these items.  Actual cash usage and expenditures could

differ materially

based

on

a

number

of

factors,

including

(among

others)

the

factors

identified

in

the

preceding

paragraphs.