How worried should I be about Yellow now?

Really being new, you are not competing with seasoned drivers with years of exp. Keep trying... things are somewhat slow but that will change

 

The yellow drivers will likely have a hard time finding new jobs

they are Union and used to Union pay and Union work rules and Union benefits.


I suspect most non union companies won’t want to hire them.

and the drivers won’t be willing to take the cut in pay and benifits .

most of them will be trying hard for a job at another company with the teamsters Union to keep their pay and benefits and seniority and retirement pension .

Trucking is like any other profession, and like life in general .

You have to go find the opportunities,
They won’t come find you .

my nephew went to the local community college CDL class , which was actually a very good class . 12 weeks long , 320 hours of instruction .

they had a lot of recruiters at the class .
He was very careful and took his time researching the companies, talking to drivers who worked for those companies etc .


he got hired by a regional heavy haul oversize load company .
That company does very thorough background checks , due to the type and value of cargo they specialize in hauling .

background check took six weeks .
Then the company has a 9 month training program where you rode with an experienced driver at half the driver pay,
To learn how to secure the cargo to the trailers , how to deal with the permits and the pilot / escort cars , how to trip plan etc etc

he’s now been with that company for 5 years .
Regularly hauls 16 wide loads , and 12 wide loads with a gross weight of 140k

Drives a brand new W900, home every weekend , makes good money .

 

"Yellow has paid approximately $66 million in interest on the loan, but it has repaid just $230 of the principal owed on the loan, which comes due next year."
I would say pretty worried. Pay it forward, take the yellow driver a can of corn when you see him broke and hungry.
Facing Bankruptcy After a $700 Million Bailout

 

Pretty close to worried

 

Oh yeah . I feel for them , and anyone that loses their jobs in mass , unexpectedly.

it sucks big time .
Everyone has bills to pay etc

you think you have a good job , and Bam !
You got no idea where your next paycheck is coming from .

 

Article in Zerohedge.com says Yellow will file Bankruptcy on Monday. Appear they are toast.
Exec At Trucking Giant Yellow Tells Staff Company Will File Bankruptcy On Monday | ZeroHedge

 

Shares off 55% at opening. Now .45 cents per share

 

Soon to be 0 per share .

wonder if the rats in DC will
Give the company to the union like theydid with GM ?

 

I remember back when CornFlake and Trashcan went bust; yeah, there were a bunch of guys out of work, but probably half of them decided to just leave the trucking business altogether.