Trucking giant Yellow shuts down: The
99-year-old company which has almost 30,000
staff and 12,000 big-rigs ceases operations
immediately - despite $700M COVID bailout
Daily Mail (UK),
by
Harriet Alexander
&
Sophie Mann
Original Article
Posted By: Dreadnought,
7/30/2023 7:09:32 PM
Trucking giant Yellow collapsed on Sunday, ceasing operations immediately and leaving some 30,000 workers without jobs.
The closure is the biggest in terms of jobs and revenue in the U.S. trucking industry, according to The Wall Street Journal - which first reported its shutdown. The company, which received $700 million in federal COVID relief funds in 2020, is preparing to file for bankruptcy and is in talks to sell off all or parts of the business. The nearly 100-year-old firm is known for its competitive pricing and has more than 12,000 trucks shipping freight across the US for brands including Walmart and Home Depot.
But in recent years
Reply 1 - Posted by:
Newtsche 7/30/2023 7:19:25 PM (No. 1523974)
Levin calls it deindustrialization.
23 people like this.
Reply 2 - Posted by:
bad-hair 7/30/2023 7:19:47 PM (No. 1523975)
And Butt Gig says what ?
They were yellow white supremacists ? sarcoff
30 people like this.
Reply 3 - Posted by:
Strike3 7/30/2023 7:30:44 PM (No. 1523978)
Oh Pete, calling Mayor Pete! Can you put the baby down for a moment and help us out here?
43 people like this.
Reply 4 - Posted by:
LC Chihuahua 7/30/2023 7:50:52 PM (No. 1523984)
High priced fuel and high priced labor. Green regulations. Inevitable.
51 people like this.
Reply 5 - Posted by:
Birddog 7/30/2023 7:52:49 PM (No. 1523986)
Well....this one alone puts the Kabosh on Biden's "Creating Jobs" weekly crowing.
43 people like this.
Reply 6 - Posted by:
Birddog 7/30/2023 8:09:39 PM (No. 1523996)
They killed the Goose that laid the Yellow Egg.
I'd like to see what their costs differentials were from Jan 2020 until now. For Equipt, Labor, fuel, oil, tires, taxes, insurance costs....and debt financing.
37 people like this.
Reply 7 - Posted by:
Birddog 7/30/2023 8:10:38 PM (No. 1523997)
Oh...highway taxes, green sur-charges and Tolls as well.
27 people like this.
Reply 8 - Posted by:
Corndoggies 7/30/2023 8:14:33 PM (No. 1524000)
Trucking companies that size usually self insure. Sounds hinky but it’s legal. I have no idea what the requirements are.
10 people like this.
Reply 9 - Posted by:
BirdsNest 7/30/2023 8:23:19 PM (No. 1524002)
Great. Now there will be empty shelves in the stores because suppliers have to hire some other semi trailer company to move its products. And while they're at it prices will go up...again.
24 people like this.
Reply 10 - Posted by:
Zeek Wolfe 7/30/2023 8:24:44 PM (No. 1524003)
Jimmy Hoffa stole my father's pension money to help the mafia build gambling casinos in Las Vegas and bribe politicians. I have no sympathy for the Teamsters Union. When he retired he presented his past Teamster credentials. They offered .25 on the dollar, take it or leave it. He had no options. The alternative was 'get out of our office and don't come back.'
31 people like this.
Reply 11 - Posted by:
slipstik 7/30/2023 8:29:35 PM (No. 1524005)
The longest running joke in the Teamsters is a retired driver with a full pension.
23 people like this.
Reply 12 - Posted by:
formerNYer 7/30/2023 8:47:25 PM (No. 1524011)
22K Teamsters losing their job, gee that's a shame. The Union's suck, they suck the life out of the owners, and job creation. Hey! Big Guy these are your peeps, wait, still on vacation with 20 mil from foreign countries?? What do you care???
21 people like this.
Reply 13 - Posted by:
synchronicity 7/30/2023 9:21:09 PM (No. 1524016)
#3 - cut him some slack, he's still nursing - it is the only thing he is officially competent at.
11 people like this.
Reply 14 - Posted by:
Strike3 7/30/2023 9:35:36 PM (No. 1524024)
#8, they have to set enough money aside to cover their liabilities for ranges of numbers of trucks on the road. Many companies do the same with medical insurance. It's cheaper because they do not have to pay insurance commissions or agents.
14 people like this.
Reply 15 - Posted by:
Catherine 7/30/2023 10:07:21 PM (No. 1524049)
I guess they could sue, but then no one will live long enough to see it through the courts.
10 people like this.
Reply 16 - Posted by:
Birddog 7/30/2023 10:33:26 PM (No. 1524058)
That building where the Biden Center is located? The one where they found the secret documents?
Owned by the Carpenters Union.
Wonder who got the better end of THAT lease deal?
13 people like this.
Reply 17 - Posted by:
mifla 7/31/2023 4:10:11 AM (No. 1524119)
Hello empty shelves. But don't worry, our government assures us that everything is fine.
8 people like this.
Reply 18 - Posted by:
Encore 7/31/2023 9:02:01 AM (No. 1524209)
Unions are parasites. I’ve seen them do far more harm than good. My uncle was given a firearm, by law enforcement, back in the 80’s to defend himself when the Teamsters were trying to worm their way into taking his business. Luckily he never had to go that far. They’re users.
3 people like this.
Reply 19 - Posted by:
MickTurn 7/31/2023 9:39:25 AM (No. 1524246)
They can thank/hate Joey for his really destructive policies!
4 people like this.
Reply 20 - Posted by:
jdano 7/31/2023 9:42:07 AM (No. 1524249)
I'd quit working too if they gave me $700 big ones.
1 person likes this.
Reply 21 - Posted by:
moebellini3 7/31/2023 10:23:22 AM (No. 1524275)
Unions doing what they do best. Bleed a company dry and then blame management. Unions have bankrupted over 90% of the trucking companies that have gone out of business since the early 1900's. And now, while union leaders go home and dine on lobster and filet the workers go home to rice and beans. They never get it.
2 people like this.
Reply 22 - Posted by:
HonestDon 7/31/2023 12:12:39 PM (No. 1524344)
Animal Farm, 1984, Atlas Shrugged, and the REAL history of America’s founding need to be read and taught in our schools. And how about Mein Kampf, the Communist Manifesto and, even, Rules for Radicals while we’re art it. Our whole country needs to be educated on these things!
2 people like this.
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