Yellow Freight -- America's Largest Trucker -- Files for Bankruptcy (unemployment, wage)
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There was a hostess factory near where I used to live that shut down.
about a year later it was opened back up as non-union with lots of undocumented workers.
Just describing competitive reality for workers and businesses competing with companies that have cheaper labor costs.
Another market getting smashed by unions and illegals. The two can never coincide. Open border and unions, what could possibly go wrong. Construction should have been the warning so many years ago.
Yellow Trucking has been on the verge of failure for years. They got a $700 million covid relief loan under Trump. Later it was found they did not qualify for it.
Their upcoming failure was apparent to the 80% of their customers who went to other companies.
Yep, came here to read something like this. This is what I've heard about Yellow for well more than a decade. Employees other competing LTL (less than truckload) companies kept saying they thought Yellow would shut down for years. Yellow had been circling the drain.
Last edited by feliformia; 07-31-2023 at 06:02 PM..
Teamsters must be celebrating right now...they showed big business didn't they ?
Hostess went through the same fate. Unions won and company declared bankruptcy.
Poor analogy. What UPS does daily adds tremendous value. Supplying what is often inventory deliveries in a just in time world , just in time, is miles ahead of knowing how to insert a puff of cream into a dessert.
High diesel costs and low rates for shipping the goods are killing our trucking industry.
Many small trucking businesses are going out because it's just not favorable for making any money. Owner operators are taking a load and they're actually losing money. Many are suffering financially through this Biden administration.
Yep....my brother in law is an OTR trucker with over 30-years experience and he's never seen trucking this bad. He's an owner operator and won't run at a loss so if the load doesn't pay enough to cover his expenses then his big rig sits parked at home. Fortunately he also does heavy haul so those loads keep him in business but the flatbed and dry box loads hardly pay enough to put gas in the truck. He won't haul any loads to or from California because their trucking laws are too restrictive and it's not worth his time to jump through all the hoops to go there.
Yellow Trucking has been on the verge of failure for years. They got a $700 million covid relief loan under Trump. Later it was found they did not qualify for it.
Their upcoming failure was apparent to the 80% of their customers who went to other companies.
How much you want to bet Biden is in this up to his neck helping to break the trucker's union? By the end of his term/terms most of our freight will be driven by illegals.
Illegals? Ha, try autonomous vehicles. They already do regular runs from the southern border to Phoenix. Probably done elsewhere as well, but I personally have only seen the ones doing the I-10 route.
So, you are saying the collective greed of the union workers bankrupted the company. I agree. Now, they are all out of a job. No non-union company will touch them. The management are much more employable.
As long as their is demand to move this thing from here to over there, why cant the drivers just put up an ad? Yellow must now be selling their fleet at discount prices now to recoup as much as they can. Plus I hear that Yellow specializes in hauling less than truck load, meaning they do smaller quantities per delivery. So you dont really even need the full size truck now that the large corporation eating up the market is gone.
Quote:
Originally Posted by TMSRetired
Teamsters must be celebrating right now...they showed big business didn't they ?
Hostess went through the same fate. Unions won and company declared bankruptcy.
As long as there is demand for diabetes inducing snacks, the workers can just bake it all at home, and sell the stuff on the streets. People will buy it especially if it looks and tastes like Hostess
Another market getting smashed by unions and illegals. The two can never coincide. Open border and unions, what could possibly go wrong. Construction should have been the warning so many years ago.
The market is not the company itself. The market is the consumers who want to eat diabetes. It does not matter where it comes from.
It was on another summer Sunday evening, some 52 years ago, that Penn Central, then the largest railroad in America, also entered receivership.
The similarities are uncanny, for Yellow's parent company, YRC, is likewise the product of an unsuccessful "mixed marriage"; The Penn Central's progenitors, New York Central and the Pennsylvania Railroad, followed completely divergent strategies with regard to both marketing and operations, and the same can be said of the disciplined, corporate structure of the original Yellow Freight System, as opposed to the "black coffee" atmosphere of the somewhat larger an (at the time) equally successful Roadway Express it had absorbed.
Intercity trucking is a tenuous, multifaceted, and sometimes clandestine business, further complicated by the necessity of its relationship to the International Brotherhood of Teamsters. A lot of ink id going to be spilled as this story unfolds.
People don't seem to understand what they read. (The Union is not the problem!!!)
Union workers gave $$$$BILLION in Worker Concessions!!! Which is why Union worker need to be heard and listen to!!!
Yellow's Executive Management is the problem, as the article states, Yellow could not manage itself, even withthe $$$ Billions in Concessions the workers gave, in addition to the 700 million loan they received.
Last edited by Chance and Change; 08-01-2023 at 05:48 AM..
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