James P. Hoffa the worst freight recession in generations. Hoffa and the Teamsters were credited in several news reports for helping YRC avert bankruptcy. Bloomberg said Goldman Sachs helped YRCW complete the debt swap after the 'Teamsters Union said the bank was trying to profit from a failure of the largest U.S. trucker by sales." Hoffa was re-elected to a fourth term heading the Teamsters Union in November 2011. He won nearly 59 percent the vote for another five-year term. The three-way race was between Hoffa, Fred Gegare and Sandy Pope. Gegare is a Wisconsin Teamster, trustee on a pension fund and a
Jimmy Hoffa see." At the time, IBT was bringing in over $750,000 annually to the AFL-CIO. Following his re-election as president in 1961, Hoffa worked to expand the union. In 1964, he succeeded in bringing virtually all over-the-road truck drivers in North America under a single National Master Freight Agreement, in what may have been his biggest achievement in a lifetime of union activity. Hoffa then tried to bring the airline workers and other transport employees into the union, with limited success. During this period, he was facing immense personal strain as he was under investigation, on trial, launching appeals of convictions,