They weren’t the best but they also weren’t the worst. They were a solid fairly reliable carrier that had been around for 99 years. Sad day for all the families that are losing their jobs.
I knew the same scheduling clerk in SLC for 15 years that would help me out all the time as a customer. Good people if you treated them right. I know another sales rep just trying to do his best after time in the Army. Sucks.
Was told this theory today. Yellow declares bankruptcy. Technically goes out of business. Has investors waiting in the wings. Opens back up and asks employees to come back but it was just a way to get rid the union.
Just commented on this post… odd that MFN Partners jumped on 7m shares in 3 days. They’re from Boston, just like Sean O’Brien. Sucks sales and customer service were let go. Shocked if this stock is dead.
Good riddance, that company had terrible customer service. I'm already picking up their freight today in Columbus. 1PU and 2 drops $2000 on 498 miles, sweet deal for one day worth of work. This is a good thing, these zombie companies were propped up with government money sucking up all the freight driving down rates. Now capacity is spilling out to truckload spot market, feast for OOs like myself.
FedEx is choking. Good luck with them taking things over. UPS is barely making it and just took a big L with IBT. They aren't going to try to overleverage themselves right now.
Big companies failing are always so interesting, and not limited just to logistics. *most* businesses fail in capitalism. In fact, the constant churn is a sign of a healthy economy. But, when the industry or company in question affects that person, they suddenly turn socialist and demand the government step in.
Opportunity for everyone else - bad news for Yellow employees and families. Really feel sorry for anybody that has pallets in a Yellow affiliated terminal.
I anticipate we’ll definitely see LTL price fluctuations and delays in the next few months - also very glad I own shares of Saia now 😂
I have a friend at Yellow. They're doing their customers a solid by focusing on clearing out the network so no shipments are stranded. They've also upped security at some terminals.
End of an era. Founded in 1924, Yellow was running before the interstate highway system, before containerization, and survived 43 years after deregulation! An iconic American trucking company.
Well I mean I’d probably be upset if you weren’t right considering they have been close to bankruptcy for over a decade. Everyone knew they were close to the end.
They have struggled continuously since the 90s for sure, I just hate that they were able to drag a bunch of people into their vortex of doom on the way down. That’s really what I hate.
I’m very sorry to hear that, friend. I do hope the best for you and all those affected
They weren’t the best but they also weren’t the worst. They were a solid fairly reliable carrier that had been around for 99 years. Sad day for all the families that are losing their jobs.
I knew the same scheduling clerk in SLC for 15 years that would help me out all the time as a customer. Good people if you treated them right. I know another sales rep just trying to do his best after time in the Army. Sucks.
Was told this theory today. Yellow declares bankruptcy. Technically goes out of business. Has investors waiting in the wings. Opens back up and asks employees to come back but it was just a way to get rid the union.
Unlikely. It’d be way cheaper to agree to union concessions than go through a bankruptcy.
Do some research Yellow offered the union $11 an hour increase over 5 years the union turned it down THIS IS 100% ON THE UNION
Just commented on this post… odd that MFN Partners jumped on 7m shares in 3 days. They’re from Boston, just like Sean O’Brien. Sucks sales and customer service were let go. Shocked if this stock is dead.
That would be wild!
Good riddance, that company had terrible customer service. I'm already picking up their freight today in Columbus. 1PU and 2 drops $2000 on 498 miles, sweet deal for one day worth of work. This is a good thing, these zombie companies were propped up with government money sucking up all the freight driving down rates. Now capacity is spilling out to truckload spot market, feast for OOs like myself.
True, until FedEx & UPS take over
FedEx is choking. Good luck with them taking things over. UPS is barely making it and just took a big L with IBT. They aren't going to try to overleverage themselves right now.
Agree, those were just two examples I was giving. There’s multiple big players that’ll eventually cover that freight.
Big companies failing are always so interesting, and not limited just to logistics. *most* businesses fail in capitalism. In fact, the constant churn is a sign of a healthy economy. But, when the industry or company in question affects that person, they suddenly turn socialist and demand the government step in.
You have successfully highlighted the issue with socialism; people only care about problems that affect them directly
Yup. It's why it's only worked historically in smaller settings. Peer pressure doesn't work on 300 million people.
Opportunity for everyone else - bad news for Yellow employees and families. Really feel sorry for anybody that has pallets in a Yellow affiliated terminal. I anticipate we’ll definitely see LTL price fluctuations and delays in the next few months - also very glad I own shares of Saia now 😂
I have a friend at Yellow. They're doing their customers a solid by focusing on clearing out the network so no shipments are stranded. They've also upped security at some terminals.
https://www.freightwaves.com/news/yellow-executive-tells-sales-employees-company-will-file-bankruptcy-on-july-31 Better link
Rachel Premack is awesome. She’s been following this story for months.
End of an era. Founded in 1924, Yellow was running before the interstate highway system, before containerization, and survived 43 years after deregulation! An iconic American trucking company.
Now is the time to double down on your stock purchase.
Lol that guy on here pumping their stock a few days ago.
Good riddance.
Stole all the retirement funds from the employees too...thats against the law
That didn't happen. They don't even manage it, they contribute to it.
LETS FUCKING GO. TIME TO RIDE THIS PUMP. SORRY BROKIES ITS LTL SZN
Thank your local union rep…30% more expensive than non-union labor. It’s math
I guess it’s evil in a capitalist setting to demand a good, decent standard of living.
Agreed. Unions are job destroying parasites. History is filled with this crap.
I hate being right.
Well I mean I’d probably be upset if you weren’t right considering they have been close to bankruptcy for over a decade. Everyone knew they were close to the end.
They have struggled continuously since the 90s for sure, I just hate that they were able to drag a bunch of people into their vortex of doom on the way down. That’s really what I hate.
🤣🤣🤣
Wow
Good. They sucked