Yellow Freight closure thread

That may be to start? I don't even know the veracity of that.

But all terminals abide by the national contract, which means pay rates and work rules, with local supplementary rules and rates. But the rates can't be below the national contract.

 

I just got a call yesterday from Fidelity Investments in reference to my employment at Reddaway. Apparently I have a 401k balance! Logged into my years-old account to discover I've got $6k in there!! Papa's gettin some new car parts!

 

Estes just outdid Old Dominion's $1.5 billion stalking horse bid. Now at $1.525 billion.

So I guess Old Dominion just made $30 million by filing a bunch of paperwork.

 

From the Freightwaves article.
Yellow asset sales, bankruptcy financing approved

"She also noted “significant interest” in the rolling stock Yellow owns — roughly 12,000 tractors and 35,000 trailers."

I'm trying to rough estimate in my mind, what the percentage of the fleet is actually worth getting based on my limited knowledge.
I don't think anyone is gonna want the old Volvos, except maybe for Africa? Even eastern Europe wouldn't take them.
And while there are some nice long boxes, the only pups I have seen are basically trash.

Oh no, jumped the gun. There was more in the article:
"However, the company did use the second tranche of a Treasury loan to buy 2,400 tractors over a 15-month period, which included all of 2021. Those late-model units could bring in six figures while others in the fleet could be moved for as little as salvage prices."

 

2021 unit running 24/7 can rack up miles quickly

 

Easily. Our linehaul guys would run 550-600 miles a night and someone like me would literally wait for them to pull in so I could add an additional 200+ miles on my peddle route. Our newer linehaul trucks would run 19-22 hours a day, six days a week. Even our newer models were constantly down for maintenance.

The other thing is we would take a brand new truck and strip it of its brand new tires and add old used tires on them. Corporate wanted to milk every single mile out of every single cannibalized truck part that they could find.

It was bonkers.

 

Have you landed yet?

 

Yeah. I just posted something on the random LTL thread. Life is looking up again.

 

FYI
Yellow policy was to remove all but the steer tires and replace with caps.
Trailers came with virgin rubber and were changed out with caps.
The idea being never to have to buy steer tires.
Worn out steer tires were capped and used until they could not be recapped.