Yellow Freight closure thread

exactly.....Stalking horse.....but same idea
Estes Offers $1.3 Billion for Yellow Terminals | Transport Topics (ttnews.com)
A stalking horse bid is an initial offer for the assets of a firm in distress, meaning there is a bar other bidders cannot undercut, although other bids are welcome, which means Estes could be replaced as Apollo was if a better deal is available to Yellow.

If Estes’ bid is not successful, the company will receive a break-up fee of 2%, equivalent to $26 million, Smith said.

 

If theres anyone in Orange County NY or the area I know a Union flatned comp looking for drivers

 

True story.

During my final two weeks I volunteered to run outbound dock and yard only. We had this one guy called Leroy that would get his 70 hours a week regardless of how many people were layed off underneath him. One thing was for certain, you do not #### with his OT. He could take 4 stops and still make it a 14 hour day. It was unbelievable.

If there is one single silver lining about all of this is that they are now stuck with competent employers that react more allergic and will not tolerate any of this. You no longer have the protection of the union to hide behind riding the clock. It's absurd how much they got away with.

 

#### we had dude’s that liked overtime but not that much. I got ot but it was bc I had to load all the outbound freight.

 

You got OT because you had the workload to justify it. This bloke legit made his work day last 14 hours. And there was no other reason for it. It's shameful.

 

The dumbest part of that is if you do the math and check the taxes with OT
Typically somewhere(depending on pay grade)around 55 hours or so you go backwards in terms of net pay

 

Bankrupt Trucker Yellow Taps Estes Express for $1.3 Billion Real-Estate Sale

 

I literally had this discussion about this subject this time last year on a different thread! I said the longer you work the more they take out on taxes. I said if you go over 60 hours the rest of your pay goes to taxes. Nobody believed me and I was called out for not knowing the tax code.

Where were you last year? You could have sided with me and preserved some of my intellectual integrity.

 

I think it is for real estate only. Doubt they are going to expand their network by 170 or so terminals that they are gobbling up. At least not in their entirety.

Bet they are gonna "flip this barn" and sell some, if not most of the properties back to rival carriers.

 

they "might" keep the ones that are larger than what Estes owns now, and move on into them.

it all depends on location, as to what Estes actually does with any of them.

some (as only 1 example), Estes might be next door to, so they might tear down the building, and extend what they have now.

also maybe Estes needs drop yards for say some dedicated accounts, for OTR drivers to drop and hook at..??

possibilities are endless.