Bidenomics: Storied Trucking Company Yellow Freight Ceases Operations

[Bill]

https://www.zerohedge.com/economics/trucking-giant-yellow-ceases-operations


Less-than-truckload carrier Yellow Corp. ceased all operations at 12 p.m. Sunday, according to a notice on the gates at its terminals.

Separate internal documents showed the procedures for closing the facilities as well as “talking points” to be used when informing union employees not to show up for their shifts. The documents indicated the company plans to issue a public statement Monday updating “the state of the company and the operation.”

On Friday, Yellow laid off most of its nonunion employees in areas like customer service, information technology and sales. The company stopped making pickups earlier in the week and has been delivering the remaining freight in its network ahead of what appears to be a permanent closure.

After months of negotiations with its Teamsters workforce, the carrier has been unable to reach terms over proposed operational changes it has said were required for its survival. In a breach of contract lawsuit filed last month regarding the matter, the company said it could be out of cash as soon as mid-July.

Most are expecting Yellow to announce it will file for bankruptcy Monday.

[Yadkin]

Score another for the Teamsters.:spdchk:

[Mick]

Sounds more like an uncooperative union situation to me than a Bidenomics thing.

[Tikiman]

Oh sure, they've stopped making pickups and deliveries, but how's their stock prices? :rofl: Sales mean nothing as long as their stock is good. :biglol:

[Louie Detroit]

How many Teamsters does it take to change a lightbulb?
Six.
Hey, youse got some kind of ****ing problem with dat?


And the funny thing is all parties involved will try to spin it to blame the Republicans.

[Torqaholic]

They got a $700,000,000 covid relief loan to pay back... Maybe they haven't spent it all yet? :rofl:

[MikeB]

Too bad.
An uncle, now deceased, worked and retired from Yellow.

Why was the brand name Yellow always in an Orange logo?
https://s.yimg.com/ny/api/res/1.2/YgMTEPboTmZMK1gRAcu0IA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTY0MDtoPTQyNw--/https://s.yimg.com/os/creatr-uploaded-images/2023-07/6906b1c0-2e28-11ee-8ff3-d6f2ed1ff05d

[Steve_R]

Score another for the Teamsters.:spdchk:


Bingo. I hope all those union employees enjoy their unemployment.

[Louie Detroit]

Too bad.
An uncle, now deceased, worked and retired from Yellow.

Why was the brand name Yellow always in an Orange logo?
https://s.yimg.com/ny/api/res/1.2/YgMTEPboTmZMK1gRAcu0IA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTY0MDtoPTQyNw--/https://s.yimg.com/os/creatr-uploaded-images/2023-07/6906b1c0-2e28-11ee-8ff3-d6f2ed1ff05d

Orange was a better color for safety visibility and also provided something quirky to remember about the company.

[Louie Detroit]

Bingo. I hope all those union employees enjoy their unemployment.

Don’t worry, the Democrats will bail them out faster than you can say dig-shit.

[Rodnok1]

Roadway was King where I grew up, when Yellow purchased the company it went down hill from there.
Economic ways changed and larger companies who were set in there ways have failed.

[Taurus]

Been doing business with them for a long time, they’ve been in a downward spiral for years.

[TheRealBadger]

Don’t worry, the Democrats will bail them out faster than you can say dig-shit.

You mean like Trump did when he gave them $700M?

Or a different democrat?

[Louie Detroit]

You mean like Trump did when he gave them $700M?

Or a different democrat?

Forgive me for the misconception of thinking democrats and yoon-yuns have some kind of incestuous relationship. Last I checked Trump ain’t the guy in charge of handing out taxpayer money anymore.

[Tikiman]

Forgive me for the misconception of thinking democrats and yoon-yuns have some kind of incestuous relationship. Last I checked Trump ain’t the guy in charge of handing out taxpayer money anymore.


Democrats and yoon-yuns go together like transvestites and extremely young children. Democrats believe both belong together.

[TheRealBadger]

Forgive me for the misconception of thinking democrats and yoon-yuns have some kind of incestuous relationship. Last I checked Trump ain’t the guy in charge of handing out taxpayer money anymore.

So, when he bailed them out it’s fine? But if they do it now it’s bad?

Got it.

[jw38]

Score another for the Teamsters.:spdchk:

:iagree: **** the Teamsters and **** unions!

[Yadkin]

Bingo. I hope all those union employees enjoy their unemployment.

The union leaders will all get raises.

[Aerovette]

A good friend drives for them and at 60 years old, is now unemployed.

White, male, age 60 = un-hirable anywhere.

[Yadkin]

A good friend drives for them and at 60 years old, is now unemployed.

White, male, age 60 = un-hirable anywhere.

Construction industry needs workers, and probably lots of drivers.

[Louie Detroit]

So, when he bailed them out it’s fine? But if they do it now it’s bad?

Got it.

You got it wrong, in your usual tactic to misconstrue written communication, by twisting and parsing words to suit your narrative, hence the reason I call you Weasel.

I very specifically replied to a post by Stever regarding the yoon-yun people, in no way was I or Stever referencing the trucking company in our two posts.

I looked up this 700M bailout, and it appears to have gone to Yellow Trucking company, not directly to the yoon-yun members, so Trump Did Not bail out the yoon-yun itself, which is what my original comment was deriding the current democrats about.

[TheRealBadger]

You got it wrong, in your usual tactic to misconstrue written communication, by twisting and parsing words to suit your narrative, hence the reason I call you Weasel.

I very specifically replied to a post by Stever regarding the yoon-yun people, in no way was I or Stever referencing the trucking company in our two posts.

I looked up this 700M bailout, and it appears to have gone to Yellow Trucking company, not directly to the yoon-yun members, so Trump Did Not bail out the yoon-yun itself, which is what my original comment was deriding the current democrats about.

Well, okay. I guess I misunderstood who you were implying that would get bailed out as I am not aware of a union ever getting bailed out. But maybe that will happen. I can’t imagine why it would since those people are now in line for jobs at FedEx, DHL, etc. it’s not like the freight just disappeared.

[TheRealBadger]

A good friend drives for them and at 60 years old, is now unemployed.

White, male, age 60 = un-hirable anywhere.

Poor boomer unionite.

[Louie Detroit]

Well, okay. I guess I misunderstood who you were implying that would get bailed out as I am not aware of a union ever getting bailed out. But maybe that will happen. I can’t imagine why it would since those people are now in line for jobs at FedEx, DHL, etc. it’s not like the freight just disappeared.

I believe Obama made special concessions for GM and Chrysler UAW members regarding their pension fund while leaving the non-union white collar people high and dry.

[GTOguy]

A good friend drives for them and at 60 years old, is now unemployed.

White, male, age 60 = un-hirable anywhere.

White, male, age 60= should be starting his planned retirement and enjoying life.

But, I'll add: anybody with a Commercial Driver's License is hirable. And in huge demand.

When I retired 2 years ago, I was getting job offers left and right because of my CDL. If your driving record is clean and your health cert is good, the world is still your oyster.

[Torqaholic]

Don’t worry, the Democrats will bail them out faster than you can say dig-shit.

More like faster than we can say 10% for the big guy.

[Louie Detroit]

White, male, age 60= should be starting his planned retirement and enjoying life.

Well unfortunately life is what happens when you're busy making other plans.

[TheRealBadger]

I believe Obama made special concessions for GM and Chrysler UAW members regarding their pension fund while leaving the non-union white collar people high and dry.

Possibly. I do t remember. But pensions are federally backed programs and the issue wasn’t jobs, it was pension plan insolvency. Lots of pension plans got propped up then.

[Yesfam]

White, male, age 60= should be starting his planned retirement and enjoying life.

But, I'll add: anybody with a Commercial Driver's License is hirable. And in huge demand.

When I retired 2 years ago, I was getting job offers left and right because of my CDL. If your driving record is clean and your health cert is good, the world is still your oyster.

I read somewhere that there is an 80,000 job deficit for truck drivers. I drive and hour each way to work every day. Almost every trailer has a sign on the back that says the company is hiring drivers.

[Aerovette]

White, male, age 60= should be starting his planned retirement and enjoying life.

But, I'll add: anybody with a Commercial Driver's License is hirable. And in huge demand.

When I retired 2 years ago, I was getting job offers left and right because of my CDL. If your driving record is clean and your health cert is good, the world is still your oyster.

I last saw him in March and he was contemplating retirement BUT, not just yet. Now benefits and pension...bye bye.

[Aerovette]

I read somewhere that there is an 80,000 job deficit for truck drivers. I drive and hour each way to work every day. Almost every trailer has a sign on the back that says the company is hiring drivers.

I see them too, but for a 60 year old, there's a slim chance for hire. They know there is no long term.

[TheRealBadger]

I last saw him in March and he was contemplating retirement BUT, not just yet. Now benefits and pension...bye bye.

His pension is guaranteed and it’s actually run by the teamsters, not Yellow.

So why would it go bye bye?

[TheRealBadger]

I see them too, but for a 60 year old, there's a slim chance for hire. They know there is no long term.

Why? 5 years is a long time and they need drivers now.

[DJ_Critterus]

I read somewhere that there is an 80,000 job deficit for truck drivers. I drive and hour each way to work every day. Almost every trailer has a sign on the back that says the company is hiring drivers.

Yep... such a high demand that the college I work for is building a truck driving practice pad here on campus with grant funds from the state so we can expand our Commercial Vehicle Driving program.

[MTPZ06]

Truck drivers with experience can get hired tomorrow. :yesnod:

[Chemtrails99]

So the very people that voted in Biden to destroy the economy now expect to be paid more since their money doesn't g as far. Maybe all these truck drivers can learn to code too. Might meet some former actors in class while they are at it.

[Datawiz]

Too bad.
An uncle, now deceased, worked and retired from Yellow.

Why was the brand name Yellow always in an Orange logo?
https://s.yimg.com/ny/api/res/1.2/YgMTEPboTmZMK1gRAcu0IA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTY0MDtoPTQyNw--/https://s.yimg.com/os/creatr-uploaded-images/2023-07/6906b1c0-2e28-11ee-8ff3-d6f2ed1ff05d

My mom worked nearly all of her career at Roadway, which Yellow acquired. In the last 10 years of her career, she accepted a position with a rival company to run a terminal in Vegas.

Confirmed that she took a lump sum at retirement from Yellow, and put it into an annuity, vs. letting them manage it, so that was a huge relief.

[slewfoot]

I worked with a Trucking company back in the late 90's. The sales staff did not help much by given most to all clients substantial discounts in excess of 50% and more to get business.

If they have still continued this practice in this post Covid economy, no wonder they went under

[09CTSV]

With all the talk of drivers needed, just read an article about how drivers are bailing on the trucking industry. The cost to maintain their rigs, fuel, insurance and uncertainty with loads are driving them out. The article talked about a shipping recession. Warehouses are full as are stores and they don't need to move items. The ports are full and nobody wants the articles.

[Big bob]

99 years in business is a pretty good run. :seasix:

[TheRealBadger]

My mom worked nearly all of her career at Roadway, which Yellow acquired. In the last 10 years of her career, she accepted a position with a rival company to run a terminal in Vegas.

Confirmed that she took a lump sum at retirement from Yellow, and put it into an annuity, vs. letting them manage it, so that was a huge relief.

I’m the 90s I worked at both UPS and Yellow. Short stints. The relationship between drivers and management at UPS was very good. The relationship between drivers and management at Yellow was horrendous.