Yellow Freight closure thread

Could Top US Trucking Firm Go Bankrupt? (yahoo.com)
And while the company reported $167.5 million in total liquidity at the end of the first quarter, Yellow said in the lawsuit that it could run out of cash by mid-July, when creditors will likely force the company to liquidate.

Yellow contends that it must implement the second phase of its One Yellow restructuring plan—which includes consolidating its four LTL operating companies and closing excess terminals—to pay off debt, cut costs and compete with non-union carriers. The attempted restructuring comes as companies like Amazon and FedEx are overhauling their own distribution networks and getting rid of redundancies.

Ok, so we're all not super smart CEO's, but I think the majority of us could agree that 15 days or 30 days to sign an agreement would put the ship right is complete BS. Seriously.
"Hey look! All the linehaul drivers started working the dock and now we're swimming in money!!!!"
This is just really sad.

 

That’s pretty messed up to find out that way. Feel bad for the workers.

 

Yes

 

Yellow union employees are the lowest compensated ltl drivers.

 

Pretty sure the dental insurance contacted Yellow on the delinquency, but the company didn't notify us. My TMs boss was here today and held a close door meeting. Either people are getting laid off tomorrow (yours truly included) or they will close the doors altogether.

All of the managers are being kept in the dark. I told my dispatcher that my best guess is that many of them have a very friendly work relationship with the drivers and any advance knowledge would be enough to kindle a mass panic. I asked him to text me if the doors were locked shut (he works earlier than me).

"I'll do ya one better R/R. I'll swing by your house and we are going to day drink together ".

 

It you get laid off why not. Turn a negative into a positive.

 

So….when can we pick up some good deals on their equipment? I bet they got plenty of tires, wheels, and trailers to sell.

 

I'm also not a CEO, but I think the idea is to take that signed agreement to their lenders and ask them to refinance the debt (again).

 

Bummer for the Drivers. God Bless y’all!!

 

This isn't looking good for yrc employees and yes when the fuel cards get shut off its over .