After $700 Million U.S. Bailout, Trucking Firm Is Shutting Down

[Guno צְבִי]

Yellow, which received a pandemic loan, is winding down operations ahead of an expected bankruptcy filing. The closure of the company would mean the loss of about 30,000 jobs.

https://www.nytimes.com/2023/07/28/business/bailout-trucking-firm-yellow-yrc-shutdown.html

 

[Lionfish]

More proof the government does not know what they are doing.

 

[Hawkeye10]

So much money has been charged to future generations and then wasted. Our kids and grandkids will hate us for it

 

[Text Drivers are Killers]

The execs took the bailout money and gave it to themselves. No more bailouts.

 

[Althea]

Yellow, which received a pandemic loan, is winding down operations ahead of an expected bankruptcy filing. The closure of the company would mean the loss of about 30,000 jobs.

https://www.nytimes.com/2023/07/28/business/bailout-trucking-firm-yellow-yrc-shutdown.html

They were Yellow Freight in NY. They went under several years ago. I had a number of friends who worked for them.

There have been a number of acquisitions since then. I think this threat is aimed at the Teamsters during negotiations.


We'll see what happens tomorrow

 

[Althea]

The execs took the bailout money and gave it to themselves. No more bailouts.

Of course you have a link for that.

Were the execs. black also?

 

[signalmankenneth]

Yellow, which received a pandemic loan, is winding down operations ahead of an expected bankruptcy filing. The closure of the company would mean the loss of about 30,000 jobs.

https://www.nytimes.com/2023/07/28/business/bailout-trucking-firm-yellow-yrc-shutdown.html

Yeah I read that too, you use to see a lot Yellow semi's on the highways, that too bad for the employee's?!!

 

[ptif219]

Yellow, which received a pandemic loan, is winding down operations ahead of an expected bankruptcy filing. The closure of the company would mean the loss of about 30,000 jobs.

https://www.nytimes.com/2023/07/28/business/bailout-trucking-firm-yellow-yrc-shutdown.html

That is what unions do for you

 

[evince]

Drivers will be snapped up by other transport cos

 

[evince]

That is what unions do for you

You want corporations to run everything huh

 

[ptif219]

Yeah I read that too, you use to see a lot Yellow semi's on the highways, that too bad for employee's?!!

The merged with roadway and becamr YRC

 

[evince]

https://www.smart-trucking.com/frei...ustry faces,job stability and consumer prices.



Shortage of truck drivers. There is still the continued driver shortage in the trucking industry. The American Trucking Association has estimated that the driver shortage reached 80,000 drivers in 2021, and if trends persist, the industry could face even more significant gaps in capacity.

 

[evince]

The merged with roadway and becamr YRC

Then no problem huh idiot

 

[ExpressLane]

More proof the government does not know what they are doing.

We need more politicians with business degrees and fewer with law degrees

 

[ptif219]

Then no problem huh idiot

The unions destroy companies asking for to much money

 

[Dutch Uncle]

Yellow, which received a pandemic loan, is winding down operations ahead of an expected bankruptcy filing. The closure of the company would mean the loss of about 30,000 jobs.

https://www.nytimes.com/2023/07/28/business/bailout-trucking-firm-yellow-yrc-shutdown.html

Sad that 30,000 Americans are losing their jobs. No doubt all the executives have golden parachutes.

 

[Dutch Uncle]

The unions destroy companies asking for to much money

Bullshit. The managers ran the company into the ground while lining their own pockets from money that belonged to the workers.

Why do you support corporations ripping off their workers and American taxpayers, Ptif? Are you anti-American? Are you pro-Russian?


https://www.reuters.com/business/au...rm-yellow-prepares-bankruptcy-wsj-2023-07-26/
On Sunday, the third-biggest U.S. trucking company averted a threatened strike by 22,000 Teamsters-represented workers after compensating more than $50 million it owed in worker benefits and pension accruals....

...In 2020, the Donald Trump led government rescued the company with a $700 million pandemic relief loan in exchange for a 30% stake.

 

[T. A. Gardner]

We need more politicians with business degrees and fewer with law degrees

None of the later would be optimal...

 

[Tinkerpeach]

So much money has been charged to future generations and then wasted. Our kids and grandkids will hate us for it

Good thing I am old, I won't be around to experience the destruction.

 

[Tinkerpeach]

Bullshit. The managers ran the company into the ground while lining their own pockets from money that belonged to the workers.

Why do you support corporations ripping off their workers and American taxpayers, Ptif? Are you anti-American? Are you pro-Russian?


https://www.reuters.com/business/au...rm-yellow-prepares-bankruptcy-wsj-2023-07-26/
On Sunday, the third-biggest U.S. trucking company averted a threatened strike by 22,000 Teamsters-represented workers after compensating more than $50 million it owed in worker benefits and pension accruals....

...In 2020, the Donald Trump led government rescued the company with a $700 million pandemic relief loan in exchange for a 30% stake.

You call everyone pro russian,