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<p>[QUOTE=&quot;Lunatic Fringe, post: 11639024, member: 187903&quot;]I&#039;m glad you&#039;re happy with your choice.&nbsp; That&#039;s important.&nbsp; Historically, Yellow was a much bigger player in US trucking.&nbsp; They&#039;ve fallen on hard times in the last decade.&nbsp; They went on a buying spree thinking if they had coast to coast LTL that would mean something to customers and they would pay extra for that.&nbsp; They were wrong.&nbsp; They paid way too much for Reddaway, Holland and New Penn.&nbsp; Reddaway is the only one that&#039;s consistently profitable but with no money for new equipment, and 10 years of retirements exceeding new hires Yellow has been slowly running them into the ground.&nbsp; Shortly after the acquisition they asked their new employees to participate in a, &quot;temporary&quot; giveback.&nbsp; Basically, your paychecks will have a deduction of 15% of the gross that you, &quot;give back&quot; to Yellow.&nbsp; Ten years later and they&#039;re still giving back.</p><p><br /></p><p>Reddaway has a very nice and well laid out terminal on N. Vancouver Way.&nbsp; Unfortunately, they had to sell some of their other terminals to pay Yellow&#039;s vig.&nbsp; Their Salem terminal was very nice also, but it&#039;s no longer theirs.&nbsp; Even with the terminal sales, the giveback and the freeze on new equipment purchases Yellow was still treading water financially.&nbsp; It gets to be a downward spiral - you have to drive old trucks because you can&#039;t afford new ones but at some point it&#039;s more expensive to keep an old truck running than it is to just buy a new one so their costs were higher than the competition.&nbsp; Yellow&#039;s trucks are twice as old as the industry average.&nbsp; Trucks that old are also less fuel efficient than new ones and tend to spend more time broke down on the side of the road.&nbsp; It was also getting harder to attract new drivers to drive old trucks for less than they could make at any other LTL company.&nbsp; Since most of the majors only train on automatics most of the new drivers have automatic restrictions on their CDL&#039;s but all of YRC&#039;s trucks have manual transmissions so they had another problem.</p><p><br /></p><p>Things were getting pretty bad for Yellow - they were behind on both pension contributions and union healthcare dues.&nbsp; They were hanging on by a thread until July of last year, along comes Captain Save-A-Ho (Uncle Sam) with $700 million for 29.6% equity.&nbsp; That&#039;s where Yellow got the money to train new drivers (like you) and buy new equipment.&nbsp; There were also grants from the feds and private industry.&nbsp; As one publication put it, &quot;<a href="https://www.transportdive.com/news/YRC-survival-2020/583005/" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://www.transportdive.com/news/YRC-survival-2020/583005/" rel="nofollow">The LTL carrier, whose continued survival has perplexed analysts, escapes the jaws of dissolution once again</a>.&quot;&nbsp; I wish you, Yellow, YRC and Reddaway nothing but the best.&nbsp; I tell you these things not to bash, but to let you know what you&#039;re walking into. </p><p><br /></p><p>Yellow planned on buying 1,100 new trucks in 2021 (out of a fleet of 14,000).&nbsp; No word on how many they were actually able to purchase with Volvo&#039;s supply chain issues.&nbsp; In their last earnings call they fell short and blamed the imaginary, &quot;driver shortage&quot;.[/QUOTE]</p><p><br /></p>

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