Yellow is kaput

[Faun]

Biden...it's a no-brainer.

You realize that fuel costs DOUBLED almost overnight...right? And you realize that volume cratered during the covid panic...right? (Along with an inability to get parts to fix trucks.)

Which is why they received $700 million in loan guarantees. But the company was already struggling before covid. Now it's time to pay back the loan so they're filing for bankruptcy to avoid having to pay it back. Now us tax payers will have to pay it for them.

 

[Jarlaxle]

Which is why they received $700 million in loan guarantees. But the company was already struggling before covid. Now it's time to pay back the loan so they're filing for bankruptcy to avoid having to pay it back. Now us tax payers will have to pay it for them.

They can't pay it, they don't have any money. YRC is BANKRUPT, they're gone.

 

[Tom Paine 1949]

Not a single fucking comment here points out that the 700 million dollar loan was granted to this company by the Trump Administation in early 2020 after it had already been sued by government regulators. It was already just about dead in the water but rescued under the totally false argument that it was important for national security.

With big money flowing out to help needy but competently run companies during the Covid crisis it was easy to ignore the obvious Covid-unrelated problems the company faced. The company should have been allowed to go bankrupt then.

Of course there are now plenty of other companies who will pick up their business. Fortunately many of the 20,000+ laid off Teamsters will not have too hard a time getting other jobs in this expanding economy, but they will suffer personal losses.

The 700 million dollar government “loan” and partial ownership stake the government got is now worth … zero. As usual there was plenty of increased company lobbying expenses paid out in 2020, and the directors’ stock options were protected. Directors had time to sell their stock options and insiders too sold at the higher market valuations that resulted after the government loan / bailout and certification that they were needed for “national security” (temporarily) raised the company’s stock price.

The main reason for the bankruptcy is the excessive debt and expansion and buying out of other companies undertaken by management in recent years.

 

[jknowgood]

You support the racist BLM.

You don’t care that Black people owned slaves. Just like white people did. Sit there and do what you’re told by your government masters. Put on your mask.

Keep on waiving your LGBT and blm flag, wave your Ukraine flag, while supporting Nazis in Ukraine

RFK all the way support the middle class

The funny thing about it is, democrats are replacing them with illegals right in front of him and he still supports them.

 

[g5000]

Biden and democrats!

My oh my. Look how quickly you tards make shit up!

Wow!

 

[g5000]

Never heard of them

Seriously? Are you not a regular driver on our nation's highways and biways?

 

[Nostra]

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?

Bidenomics.

 

[g5000]

My oldest son is a trucker. I just texted him about Yellow. He texted back that three out of the seven trucking companies he has worked for have gone under, and a possible fourth is on the horizon.

 

[Andrew_Jackson_FTW]

I think your blood brain barrier broke

What do we know about Wi-Fi and blood-brain barriers?

It’s nearly impossible to avoid things that use wireless internet. Laptop computers, cellphones, tablets, smartwatches a

www.politifact.com

you’re uninformed, and a personal attack troll. All you do is personally attack people.

get to church my friend

 

[Faun]

Not a single fucking comment here points out that the 700 million dollar loan was granted to this company by the Trump Administation in early 2020 after it had already been sued by government regulators. It was already just about dead in the water but rescued under the totally false argument that it was important for national security.

With big money flowing out to help needy but competently run companies during the Covid crisis it was easy to ignore the obvious Covid-unrelated problems the company faced. The company should have been allowed to go bankrupt then.

Of course there are now plenty of other companies who will pick up their business. Fortunately many of the 20,000+ laid off Teamsters will not have too hard a time getting other jobs in this expanding economy, but they will suffer personal losses.

The 700 million dollar government “loan” and partial ownership stake the government got is now worth … zero. As usual there was plenty of increased company lobbying expenses paid out in 2020, and the directors’ stock options were protected. Directors had time to sell their stock options and insiders too sold at the higher market valuations that resulted after the government loan / bailout and certification that they were needed for “national security” (temporarily) raised the company’s stock price.

The main reason for the bankruptcy is the excessive debt and expansion and buying out of other companies undertaken by management in recent years.

Yup, Donald Trump's Solyndra.

Question is... why aren't the rightards outraged about this like they were with Obama?

 

[jknowgood]

Yup, Donald Trump's Solyndra.

Question is... why aren't the rightards outraged about this like they were with Obama?

Because the government shut the economy down, so they were obligated to keep food on the tables for Americans. If we would've done what Trump wanted to do, none of this would've happened. No government shutdowns.

 

[Tom Paine 1949]

Yup, Donald Trump's Solyndra.
Question is... why aren't the rightards outraged about this like they were with Obama?

The answer, certainly for most of the shit-stained Trump fanatics here on USMB, is that they are worthless, unthinking and dishonorable people.

It required no great research or integrity to admit this company was given the $700 million loan under the Trump Administration. I am so fed up with these creeps!

Here is an excerpt from a typical current article:

“In 2020, under the Trump administration, the Treasury Department granted the company a $700 million pandemic-era loan on national security grounds. [bold emphasis mine]

Last month, a congressional probe concluded that the Treasury and Defense Departments “made missteps” in this decision — and noted that Yellow’s “precarious financial position at the time of the loan …”

Orange-themed trucking giant Yellow is on the brink of bankruptcy just a few years after taking a $700 million government bailout

 

[Faun]

Because the government shut the economy down, so they were obligated to keep food on the tables for Americans. If we would've done what Trump wanted to do, none of this would've happened. No government shutdowns.

WTF are you rambling about now? The states did do what Trump wanted...

"Therefore, my administration is recommending that all Americans, including the young and healthy, work to engage in schooling from home when possible, avoid gathering in groups of more than 10 people, avoid discretionary travel and avoid eating and drinking in bars, restaurants, and public food courts." ~ Donald Trump, 3.16.2020​

 

[jwoodie]

The answer, certainly for most of the shit-stained Trump fanatics here on USMB, is that they are worthless, unthinking and dishonorable people.

It required no great research or integrity to admit this company was given the $700 million loan under the Trump Administration. I am so fed up with these creeps!

Here is an excerpt from a typical current article:

“In 2020, under the Trump administration, the Treasury Department granted the company a $700 million pandemic-era loan on national security grounds. [bold emphasis mine]

Last month, a congressional probe concluded that the Treasury and Defense Departments “made missteps” in this decision — and noted that Yellow’s “precarious financial position at the time of the loan …”

Orange-themed trucking giant Yellow is on the brink of bankruptcy just a few years after taking a $700 million government bailout

You seem to blame Republicans in general, and Trump in particular, for Democrat legislation. Isn't that intellectually dishonest?

 

[Thunk]

I hope menards doesn't run out of paint!

I need more to finish painting my house!

 

[BS Filter]

Thank you, Joe Biden. These Democrats are no friends of the working class.

 

[BS Filter]

You seem to blame Republicans in general, and Trump in particular, for Democrat legislation. Isn't that intellectually dishonest?

You made a big mistake....You used "intellectual" and "democrat" in the same sentence.

 

[Andrew_Jackson_FTW]

Why do democrats here support Biden? Our economy is horrendous. Gas prices, the price of a home and grocery prices All astronomically higher now compared to under Trump.

And why are some Democrats here filled with such hatred that they can’t have a conversation and just personally attack people

 

[Andrew_Jackson_FTW]

Our jobs are bad we’re losing the good jobs and the government is propping up low-paying jobs. Nobody cares that the unemployment rate is low. People are not make enough money to buy a house.

 

[d0gbreath]

I never liked them, since I was little and had recently learned my colors. Your truck cabs are orange.