Yellow Freight closure thread

I would be applying for jobs now. Don't wait.

 

My buddy that died a few years ago worked for New Penn before he came to the oilfield company where I met him. All he had was good memories up until Yellow bought them. It sounded like an awesome place.

 

kinda wondering if all the other companies Yellow owns, will fall as well..???

sorta like how else is Yellow gonna pay off that debt..?????

could be a "domino effect"........

 

When the YRC partnership was dissolved recently
Yaller put all the companies under the yellow banner and rebranded All the equipment unfortunately

 

Green New Penn with Yellow badging looks terrible.

 

They should send them all to green bay

 

so this CAN get uglier, than i first thought.

i totally forgot the other companies Yellow had bought, especially the once highly profitable New Penn.

someone once told me, when i was at NEMF, that New Penn made back like (up to) 95¢ of every dollar they spent..????

this was well before Yellow bought them.

 

For the longest time none of us cared if YRC would go under. All the regionals; Reddaway, Holland, and New Penn are profitable and can stand on our own feet. Worst case scenario YRC would sell us off and it would be business as usual under a hopefully more competent parent company.

This all changed over the past 18 months when they rebranded all of us into One Yellow. They literally put Yellow decals over our equipment and shippers have been dropping us since. They aren't just buying a service, they are buying the name and reputation that we carry. YRC and Hollands networks aren't compatible at all, but that didn't stop YRC from merging us all together. They legit welded all the boats together with the parent ship sinking all while destroying all of our good names.

As for your question on New Penn. Your friend was probably referencing their Operating Ratio. So if New Penn had a 95/100, that means for every dollar the company brings in, they'll be left with 5 cents after all of their bills are paid. Mid to lower 90s is where most of our companies should sit. But no, leave it to Yellow to report 100.8/100, and that was last quarter before all of this mess started.

 

yes, operational ratio.....

 

after i read (here) about that equipment rebranding, this made me realize, all is going down, not just Yellow.

the bankruptcy courts are going to want all of the assets to pay the debts.

so even if the survivors are "set free", (without the equipment) how long will it be for a new company to form, buy (or lease) equipment and start all over again..???

sure, the old customers will come back, but would they trust anyone that was formerly owned by Yellow?

again, look at Jevic and Preston that was set free after Yellow cleaned thier clocks......

they failed in short time.

i hope that Fuzzy Zollers is a happy man living on his island.

and frankly, i'd still NOT want to see any bailouts...

i am sick and tired of giving away money, i as a taxpayer is paying for, with MY SS and retirement investments.