Yellow is kaput

[Thunk]

I'll let you know when you do. Don't hold your breath.

 

[BrokeLoser]

If one got $700 million of taxpayers dollars and still couldn't make it, well................................

Maybe they should have went under before the taxpayers lost $700 million.

Maybe they became beanerized?
That or Ragheads ran them out.
Modern day slaves are destroying all blue collar trades.

 

[Jarlaxle]

Wow. You would think a company that old in a nation like the U.S that requires transport would never go under. What challenges did they face?

Bad management, and bad Teamster contracts.

 

[odanny]

Biden's fault.

 

[RoshawnMarkwees]

Wow. You would think a company that old in a nation like the U.S that requires transport would never go under. What challenges did they face?

I would suspect increased energy costs would have something to do with it.
I have a part time job moving fleet vehicles and I’ve already lost over $25k in gasoline cost increases alone since this faux admin hijacked the executive branch and spiked oil prices.

 

[Manonthestreet]

Their rates were too low. If you don't charge enough for what you do you go out of business. End of story.

 

[Thunk]

I would suspect increased energy costs would have something to do with it.

Increased costs for Fuel, repair, parts, tires, licensing, medical ins...

Ain't democrats wonderful?

 

[Burgermeister]

Significant impact on domestic supply chain. Terribly run company. Union pressures tipped it over, but this company sucked in a bunch of government money, already had some union concessions, and just ran into reality. Bad companies are supposed to go out of business and this one should have years ago. I would like to blame the union, but that is not the reason.

Now if we would just let banks fail..

 

[lennypartiv]

Maybe this is strategic to get the Teamsters Union out.

That sounds about right.

 

[JGalt]

Never fear. Pete Buttigieg's Department of Trannyportation will fix it.

 

[Winco]

Maybe they became beanerized?
That or Ragheads ran them out.
Modern day slaves are destroying all blue collar trades.

******* Racist ^^^^^
My Gawd.

 

[BrokeLoser]

******* Racist ^^^^^
My Gawd.

Nah…just concise and unapologetically truthful.
Scary shit huh?

 

[Winco]

Nah…just concise and unapologetically truthful.
Scary shit huh?

Very scary that scum like you still breathes my air.

 

[JGalt]

******* Racist ^^^^^
My Gawd.

I'm sure he has a pretty good name for you too.

 

[BrokeLoser]

Very scary that scum like you still breathes my air.

Yeah…how dare people speak the candid truth.
If it makes you feel better, know this, there is no group of people I hate more than woke white guilt Libs.
Where do you go with that?

 

[Winco]

Yeah…how dare people speak the candid truth.
If it makes you feel better, know this, there is no group of people I hate more than woke white guilt Libs.
Where do you go with that?

It's just your hateful truth.
Pathetic.

 

[Stryder50]

It's just your hateful truth.
Pathetic.

Like there's no one or no body that's target of your pathetic hate.

 

[Stryder50]

Increased costs for Fuel, repair, parts, tires, licensing, medical ins...

Ain't democrats wonderful?

Nailed it.
When you are operating on contracts that suddenly are outdated but you can't raise your rates to cover the unexpected increase in costs, your money will run out rather quickly.
No money left to pay wages, buy fuel, etc. you've hit the bingo point.

I wouldn't be surprised if other companys/corporations follow suit soon.
~~~~~~~~~
From a thread from 4 years ago, there seems to be a trend;
...
2019 has been a challenging year for truck drivers and their employers. About 640 trucking companies went bankrupt in the first half of the year, according to industry data from Broughton Capital LLC. That's more than triple the roughly 175 bankruptcies from the same period last year.
...
ACT Research has said America's $800 billion trucking market entered a recession early this year. Freight volumes have declined for 11 straight months. Manufacturing, which tracks the trucking industry, has contracted for four straight months.
...
The source of Celadon's troubles dates back further, however. On Thursday, the Securities and Exchange Commission charged two former Celadon executives following a multiyear accounting scandal.

The news plunged Celadon's stock to $0.41 a share on Friday — a considerable tumble from the more than $20 a share that the stock was worth in 2015 before the accounting scandal became public knowledge. As of Tuesday, share prices were at $0.02.
...

A truckload giant just filed for bankruptcy, and it leaves nearly 3,000 truck drivers jobless

Celadon declared bankruptcy on Dec. 9, and that collapse is worrying truck drivers that they may be stranded.

www.businessinsider.com

Trucking Giant To Declare Bankruptcy

This is one of the largest trucking companies in the nation. It's one out of 640 trucking companies that went bankrupt this year. Which is 3 times as many that went bankrupt last year. This will result in over 3 thousand truckers to lose their jobs. Many are being stranded without a way to get...

www.usmessageboard.com

 

[candycorn]

Bad management, and bad Teamster contracts.

Yep. They probably have a high legacy costs.

I don't know if it was "bad" management. One thing I bet happened was that Amazon started doing a lot of it's own freight and "last mile" deliveries. Not far from one of our campuses is an Amazon "last mile" facility. The Home 2 Suites they always have me stay at is across the street from it. I usually work overnight doing internal audit so I am going to the hotel at 7AM many mornings. Traffic is terrible on this desolate road on the edge of town because there are--and I'm not kidding--50 to 100 SUVs and mini-vans there to pick up packages to be delivered from this warehouse. The people driving are dressed in shorts, flip flops and blouses--these are contractors.

I would imagine that at some point, the guys at Yellow, Central, UPS, etc... saw Amazon's growth and figured they would get a percentage of it; 1,000 packages a day in Tucson because that is what always happened in the past. Turns out Amazon only gave them 200 packages and delivered the rest themselves.

 

[toobfreak]

Yellow has ceased operations. 30,000 employees, 12,000 trucks

You would think a company that old in a nation like the U.S that requires transport would never go under. What challenges did they face?

Those terrible republicans must be to blame! They will do anything to ruin the Great Joe Biden's Wonderful Booming Economy!