Rates are crashing and fuel to the moon!

You guys pulling Van freight rooting for YRC to go under? Do you think it will have a big impact on the OTR segment?

That will be lots of jobs lost... Would have to think that lots of the LTL companies aren't running all trailers to 100% fill so not sure how much YRC going under would really help things?

Maybe for the first couple weeks but then after don't know...

The Van guys that special in partial moves will definitely be rocking and rolling... but for how long?

Might help the flatbed/hot shot market a little initially but don't think it will last long...

 

I was surprised to read that the Feds are 30% shareholders of YLC. That ought to be illegal.

 

I think it will be a big adjustment for anyone that currently works there, to have to start working for a living.

 

I feel bad for most though, that's gotta be a pretty stressful position to be in, especially for workers a couple years from retirement.

But, I think the LTL segment is over saturated just like any other areas of trucking. If YRC had 10% of that market like I've been reading, pretty sure all that freight will get eaten up quickly by the other companies...

I ran LTL years ago and it wouldn't be uncommon for me coming back to my barn with 1 pup empty every night.


Yellow/roadway years ago was a very respected and professional company in which you had to know someone to get a job. Obviously the times have changed several years ago...

 

And before that Yellow was the cheap new kid on the block, while Consolidated Freight was still in business. At least that is the way it looked from an outsiders vantage point.

 

I don't think it'll bring any more carriers, cause you have to work for it. There will be surplus equipment for the next rate boom.

Yeah, no way I'm banking what I was last year, but I'm still doing ok.

I mentioned in another thread, but I'm almost at 74k miles so far this year after today. I don't expect it to fall in my lap. I think a fella willing to come out of the house and kill it, will prosper.

And lastly, no reason being scared of or worried about it. I can't change what the rates will be, so no sense in it.

I could go around and find contract work if I wanted and things got bad, but that's definitely not my plan. I would prefer to keep working off the load board.

 

Well I've ruined this fork.

This is obviously going to impact the CPM and ROI.

 

Teamsters pensions used to be based on years. 57 yrs old to retire. 30 years at any age. They’ll be fine. Maybe a bit less pension. I think it maxes out at 35 years. Anyone who thinks those jobs are easy, has no idea. The pay difference between Union and Non Union Jobs has gotten less. I’d rather be a Driver at Yellow right now with 27 yrs in the Union, instead of an Independent running Load Board Freight.

 

YRC Teamsters voted to surrender 75% of their pension to keep the doors open years ago, so 4yrs service = 1 pension year. They are the lowest paid LTL outfit by a mile and very poorly managed, not to mention the archaic work rules still in place. Having worked there it wouldn't bother me a bit to see them burn after screwing DoD for years on freight rates (and got caught) only to turn around and get $700M China Virus money. Anything that happens to them is well deserved.

 

WAIT! WHAT!!? The fed reserve bank owns 29.9% of YRC!??? I am blown away by this. How in the world did this happen?