Yellow Freight closure thread

Our pay isn't even in the top 5 of the carriers. ABF (which is in the same union as us and has the same health benefits as us) just gave their drivers a $6/hour pay raise over the course of their 5 year contract. They also got two additional sick days and an extra paid federal holiday. Yet they have no problems generating really good revenue.

All the regionals were super profitable until YRC decided to merge everyone. It's not the pay and benefits. It's how idiotic YRC is run.

 

In my area they’re the lowest paid with the trashiest equipment. YRC pays their guys a minimum $10 less than anyone else in south Florida. If we’re just talking cash compensation.

 

Just to give an update .

Things aren't looking so well at all. 2/3 of our drivers have gotten a real grasp of the severity of the situation with finger pointing in all direction on who to blame. The other third is dead convinced that the CEO is just posturing and pressuring the union into caving into their demands. The union side is refusing to ceede any ground and will not give away something for nothing.

This is an incredibly dangerous game of chicken that they are playing with 30k+ jobs on the line. The reality is we are on the verge of defaulting on our loans and when that point passes, liquidations of our assets will start. Our customers are seeing this all unfold in real time and are asking themselves some serious questions. Will there be a disruption in getting our freight to our customers and what will happen to our freight already in transit when the hammer falls?

My dispatcher pulled me aside and understands what is going on. He told me things might not be as bleak as everyone thinks. All of our fuel cards and COMM Data checks still work. He said those are usually the first ones to get canceled or blocked. He said if he sees those go, he will see himself out the door.

Two weeks will come and go fast. Yes, there are carriers that will refuse to pick up union drivers. But most of us will find a new home.

 

i can't say i feel sorry for Yellow.

they buy, strip and then sell what they bought, after taking all the good accounts. set those purchased companies out to the vultures, and then those companies fail.

Preston, Jevic, come to mind.

now it's time that Yellow gets buried in it's own excrement.

take your retirement, and don't look back.

 

As the largest less-than-truckload (LTL) unionized carrier and the second-largest trucking company affiliated with the International Brotherhood of Teamsters

The Teamsters leadership is largely responsible for its own demise, forcing an operational structure that has made it impossible for Yellow to compete against higher-quality operators delivering more consistent and reliable service offerings. A lack of flexibility in staffing levels and operations that would allow unionized carriers to respond to freight market volatility means these carriers are always at a disadvantage to their non-unionized competitors.

 

Well then, why are ABF and UPS LARGELY successful????? And how in the world can they make it work and Yellow can't????
Same Union, similar deals.
I'm no Teamster cheerleader by any measure, but ya gotta say, other folks worked under the same rules and were successful.
Jus sayin
YRC has been mismanaged for YEARS........they bought profitable regional companies that kept their lights on, yet still couldn't make it work. Sold a crap load of properties just to pay the bills.
No, man.....Yellow is a POS that ruined a lot of lives and families.

 

Everything you ever wanted to know here......
Yellow is a zombie company — it’s time to let it go (yahoo.com)

 

Hate it for the employees, but Goodbye Yellow

 

Analysts contemplate a Yellow bankruptcy - FreightWaves

He also pointed to a final report issued Tuesday from the congressional oversight commission tasked with overseeing the 2020 COVID-relief lending program. The report noted numerous mistakes made by government agencies during the approval process of a $700 million Treasury loan to Yellow. It also advised the Treasury to unwind its debt and equity holdings in the company.

“These developments make it highly unlikely, in our view, for a last-minute deal via outside intervention,” Mehrotra said.

Meaning......the Calvery has come and gone and won't be back.....

 

I just talked to my coworker. He said we lost our dental plan. He said his wife tried to use the insurance and they told her the plan is no longer good.