Yellow Freight closure thread

And nobody did that better than YRC. Didn't even matter if that account was profitable or not, our rates were always cheaper. I believe the official term for this is predatory pricing.

This was actually an inadvertent aftershock when we went under. Shippers got a massive sticker shock when finding shipping alternatives after Yellow sank. Rates spiked 10% to 30% in many cases. Yellow kept rates artificially low with their shenanigans.

 

Yellow management was a joke.

 

Endgame?
Judge Oks Yellow Corp.’s final liquidation plan

 

Maybe not, the appeals court reinstated the 150 million + law suit against the teamsters, with damages that could balloon to over 1 billion.
And MFN partners will probably appeal the final plan go ahead since they don't they are getting their fair share of the pie. MFN is the investment group that bought up all the stock they could they week before and after Yellow declared bankruptcy.....
Personally I'd just like to see my PTO paid in full and forget I ever heard the name Yellow.....

 

Well the thing is the bankruptcy court had already overruled MFN’s objections. While MFN can appeal it,very rarely is a judge’s decision overturned in a federal court.

 

That's the day I am waiting for. My final check and then the absolute last time I have to worry about including their name when I have to file taxes. Each year it kinda hovers over my head whether or not I will hear from them before the year is up. I really want to be done thinking about this company and unlearn their name after all they put us through. What the majority stakeholder and the Teamsters do after all of this is their business, and it will no longer concern the rank and file members that are no longer associated with either organization.

 

It's already being appealed

The only way this bankruptcy will end is the day the world ends.

 

Or the day all the money is gone to pay lawyers.

 

They’ll milk it for all its worth!!

 

So far the lawyers are spending about $10m a month.
Word is they have a settlement deals with the pension funds of the 7.5 billion dollar claim for somewhere around 500 million if I'm reading it correctly so the lawyers won't have too much left to fight over.