Yellow Freight closure thread

No dude.....$230.......as in Two Hundred Thirty dollars.......as in a really nice night out with the wife.

 

This company shoulda been dragged behind the barn and shot in the head like 30 years ago

 

yeah he miss quoted the one I believe. But the land is worth a lot more than the books state.

 

People will shed a tear for these losers, then cus the single mom going to college asking for a liveable minimum wage. Literally #### Yellow and the drivers

 

CNN business article I read said YRC handled about 7% of the LTL freight shipments, so my guess would be that freight will now be absorbed by Saia/Estes/ODFL , without them having to add any capacity.

From the few that I talk to in LTL, their runs/miles/hours have been cut down a while now - so I'm guessing they'll just go back to being busy again, without the companies having to add any drivers or equipment.

Which makes me think that a lot of the 30,000 jobs lost will have to find something else to do in the meantime. That's a lot of financial hurt for a lot of families.

Article also mentioned that YRC customers would now be paying higher shipping costs, because YRC was 'cheap'. That additional shipping cost will be passed on to the customers as always, further worsening inflation.

What a deal.

 

Indeed. That and the interest payments alone kept everyone in the game.

 

The union gave Yellow the contract language needed to do a major operational change in the current contract, signed over four years ago.

Four years ago they could have easily started to merge companies and systems, close redundant terminals, and saved more than enough money to get them to the next contract where they could ask for the work rule changes if they still felt it was necessary.

I think that person is misinformed. Yellow repaid just $230, not $230 million. Funny enough, their other lender has been repaid hundreds of millions of dollars in that same time frame.

 

$700 million in taxpayers money to be precise. All while being grilled for overcharging the government for military freight, which they never admitted to, but paid a $6 million odd fine for.

 

Joe said economy never been stronger ...

 

It was quoted wrong is all.