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Economic uncertainty mounts as a major freight carrier heads to bankruptcy

Counselor706

Counselor706

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OVERLAND PARK, Kansas — Yellow Freight, one of the oldest trucking companies in America, located here in this Johnson County city, hit the end of the road Friday when both union and nonunion office workers at the facility were told they had been laid off.

It was an announcement that comes days ahead of an expected bankruptcy filing by Yellow — a rumor that has caused freight customers to cancel orders and Yellow's stock to plunge as the probability of liquidation has escalated in recent weeks.

FreightWaves, a trade news organization, reported the Yellow letter said the company is “on the verge of closing its doors due to an ongoing, intractable labor dispute with the International Brotherhood of Teamsters.”
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https://www.washingtonexaminer.com/...nts-major-freight-carrier-heads-to-bankruptcy
 
Sweet - fresh news!...that broke two days ago. 🙄😄
 
I worked for Yellow Freight back in my early 20s right after PIE went under. They were barely hanging on even then and I'm surprised it took this long for them to completely fail, their system was stuck in the 1940's.

For the most part though, UPS killed them by taking away the easier/smaller LTL freight leaving trucking companies like Yellow with only the heavy stuff which requires larger and less efficient, as well as more costly, equipment to move that freight with.
 
Years ago I saw some comments by a former trucking company owner. He lost his business because a larger trucking company underbid on contracts to eliminate competition. While he was still selling his trucks and equipment and looking for work, the other trucking compnay received bailout money.
 
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