Yellow Corp. Trucking - Bankruptcy

[havasu5150]

Looks like It’s till a fluid situation for Yellow

“The threat of a strike on Monday, July 17, led to catastrophic shipment declines last week as customers needed to ensure their shipments could be serviced without interruption and not caught up in a strike of undetermined length.”

Yellow limits pickups nationwide, leaked memo says

'As a result of these unfortunate circumstances and the impact on the network, we are limiting pick-up operations in all terminals,' the memo states.

www.freightwaves.com

They temporarily dodged a bullet. Unfortunately, I think it is too little too late. I worked for Roadway Express, then YRC for 28 years. Things started going downhill shortly after Yellow somehow purchased us. Shortly after the purchase my pension was capped, 401K match eliminated (supposedly temporarily) Merit increases ceased, and the labor force began taking a series of concessions. Bill Zollars had this notion of purchasing other carriers to create a super-sized transportation company that would be too big to fail. It didn't work. Yellow has destroyed every company they have touched. How he conned Duetsch Bank into financing this boondoggle is beyond me.

 

[regor]

Exec At Trucking Giant Yellow Tells Staff Company Will File Bankruptcy On Monday​

Yellow’s senior vice president of sales informed her staff on Wednesday that their last day would be Friday and the less-than-truckload carrier will file bankruptcy on Monday.

WED JUL 26, AT 4:40 PM

 

[pronstar]

OTR trucking is brutal. Especially those lease owner operators for big companies. They run the shit out of those drivers. Couldn’t pay me enough to be away from home 5-7 weeks at a time. I follow a few on YouTube that are making a go of it.

With people nowadays unable to do basic shit with their hands, i dunno how these guys survive when they don’t maintain and/or repair their own trucks.

 

[Outdrive1]

It’s a product of todays environment. Why would anyone buy two pallets of stock when they can overnight a box with FedEx or ups? How many box stores are left? Amazon killed that market. LTL has been dying for 20 years. It used to be swinging dick job to work for a union LTL freight company. Those days are long gone. I worked LTL for USF(Now Yellow) and CF 30 years ago. No one ever thought CF would go down. That was the first of the big three to go.

 

[lbhsbz]

It’s a product of todays environment. Why would anyone buy two pallets of stock when they can overnight a box with FedEx or ups? How many box stores are left? Amazon killed that market. LTL has been dying for 20 years. It used to be swinging dick job to work for a union LTL freight company. Those days are long gone. I worked LTL for USF(Now Yellow) and CF 30 years ago. No one ever thought CF would go down. That was the first of the big three to go.

I buy 2 pallets of stock because next time I need one little box it probably won’t be available. Also, most of my vendors cover freight on orders over $2500.

You may have noticed that 1/2 the stuff you want to buy is out of stock lately….it’s tough to make money as a business when you have no product. I typically buy out my suppliers on everything I need, so I have plenty to last me until I can find a new source to replenish…which in my world can be 6-10 months.

 

[hman442]

The worst is the forums….one recent thread, which is now up to 4 pages…started off with “is brake fluid supposed to be red?”

Should have had a single response…change everything that touches brake brake fluid and has rubber in it, flush the things that touch brake fluid but don’t have rubber in them with brake cleaner/denaturatef alcohol, and blow dry…but the 4 pages of bullshit answers that will probably cause the guy to wreck and kill a bus load of nuns.

Nuns or Orphans

 

[lbhsbz]

Nuns or Orphans

Why not both?

 

[Andy B.]

It’s a product of todays environment. Why would anyone buy two pallets of stock when they can overnight a box with FedEx or ups? How many box stores are left? Amazon killed that market. LTL has been dying for 20 years. It used to be swinging dick job to work for a union LTL freight company. Those days are long gone. I worked LTL for USF(Now Yellow) and CF 30 years ago. No one ever thought CF would go down. That was the first of the big three to go.

Worked for CF in the 90's a good company but most workers doing the bare minimum(lazy fucks) it was inevitable. I left to go into business in Las Vegas in 98 it was sad when they went under......

 

[Badchoices03]

It’s a product of todays environment. Why would anyone buy two pallets of stock when they can overnight a box with FedEx or ups? How many box stores are left? Amazon killed that market. LTL has been dying for 20 years. It used to be swinging dick job to work for a union LTL freight company. Those days are long gone. I worked LTL for USF(Now Yellow) and CF 30 years ago. No one ever thought CF would go down. That was the first of the big three to go.

I used to work for USF Bestway as a young dude, worked on the dock unloading the local trucks and loading up the LTL trucks....the drivers back then were respected, real man's man type....hell even the one woman driver was a man's man before it was cool lol...seems like that profession has changed...

 

[chadzilla]

Here is management’s perspective in many cases. Stellar customer service is usually a product of expertise and knowledge. Those people are rightly expensive.

Consumers like to pick a customer service or sales persons brain for this “service” and “expertise” and then once they get some help to figure out their problem, they shop for the part or solution at the lowest possible price. The average consumer puts the value on the part or good that solves the problem with little consideration for the knowledge.

The result is that the management who spends the money on having the most knowledgeable and experienced people, get their brains picked and then lose the sale to the shop that can offer the lowest price.

So management has no choice but to become a boutique shop with higher prices, or go where the bulk of the business is, the race to the bottom.

You are so right! We have had this happen multiple times just in the last week! Customers will call, pick our brains for info and parts, then go online and buy the parts. Pisses me off!! Our experience and knowledge is not free!! So now, I have implemented new policies regarding this. No part numbers are to be given out period. Even on quotes. You want the part number, you will get it when you pay for the part. As a Mercury Marine dealer, we pay a considerable amount of money to have the ability to look up parts and accessories. Parts catalogs, both electronic and paper do not come for free.

 

[Cdog]

This a cause and affect of OTR trucking & distribution slowing down post covid supply issues.

The fat times are done, money spent, fuel expenses and competition driving rates down.

Good news it’s a crowded marketplace & some company will undoubtedly benefit from filling the void.

The union teamsters might want to rethink their support for democrats but I doubt they have enough cortex capacity to see the cause & affect.

Learn to code - pedo joe

 

[c_land]

The union teamsters might want to rethink their support for democrats but I doubt they have enough cortex capacity to see the cause & affect.

Learn to code - pedo joe

Abandon the dems, and abandon yore bailouts!

Biden Devotes $36 Billion to Save Union Workers’ Pensions (Published 2022)

The money comes from last year’s Covid-19 relief package and will avert cuts of up to 60 percent in pensions for 350,000 Teamster truck drivers, warehouse and construction workers and food processors.

www.nytimes.com

 

[4Waters]

Abandon the dems, and abandon yore bailouts!

Biden Devotes $36 Billion to Save Union Workers’ Pensions (Published 2022)

The money comes from last year’s Covid-19 relief package and will avert cuts of up to 60 percent in pensions for 350,000 Teamster truck drivers, warehouse and construction workers and food processors.

www.nytimes.com

 

[HNL2LHC]

View attachment 1257629

Come on money bags pay up for us people here being poor!!!!!!

 

[4Waters]

Come on money bags pay up for us people here being poor!!!!!!

I'm gonna go over and be poor

 

[HNL2LHC]

Come over to Hawaii and be poor with me. The weather is nice. LOL

 

[c_land]

Party time lol

https://twitter.com/i/web/status/1685506188895481856

 

[TrollerDave]

I used to work for USF Bestway as a young dude, worked on the dock unloading the local trucks and loading up the LTL trucks....the drivers back then were respected, real man's man type....hell even the one woman driver was a man's man before it was cool lol...seems like that profession has changed...

I did the same on the Fontana dock 93-97.

My cousin worked for USF Reddaway up until they called him this morning. 28 years with them.

 

[530RL]

LTL is a difficult and labor intensive business.

Given the labor shortage in every industry in America why do LTL?

 

[regor]

Trucking Giant Yellow Ceases Operations​

Less-than-truckload carrier Yellow Corp. ceased all operations at 12 p.m. Sunday, according to a notice on the gates at its terminals.

MON JUL 31, AT 4:08 AM

 

[CLdrinker]

So I have a question. Lots of Yellow employees were union correct?

So how is that live better work union bumper sticker working out?

 

[Outdrive1]

Trucking Giant Yellow Ceases Operations​

Less-than-truckload carrier Yellow Corp. ceased all operations at 12 p.m. Sunday, according to a notice on the gates at its terminals.

MON JUL 31, AT 4:08 AM

Sad, but the world changed and they didn’t adapt. It’s still hard to imagine a company that big could go under.

 

[Looking Glass]

Sad, but the world changed and they didn’t adapt. It’s still hard to imagine a company that big could go under.

listening to Glenn Beck this morning, I can not understand why the Real Start of this Company's problems. Like Paul Harvey always said - The Rest Of The Story. The U.S. Taxpayer is the one who is going to get Screwed.

 

[Havasu blue label]

They temporarily dodged a bullet. Unfortunately, I think it is too little too late. I worked for Roadway Express, then YRC for 28 years. Things started going downhill shortly after Yellow somehow purchased us. Shortly after the purchase my pension was capped, 401K match eliminated (supposedly temporarily) Merit increases ceased, and the labor force began taking a series of concessions. Bill Zollars had this notion of purchasing other carriers to create a super-sized transportation company that would be too big to fail. It didn't work. Yellow has destroyed every company they have touched. How he conned Duetsch Bank into financing this boondoggle is beyond me.

Didn’t they buy Milne truck lines back in the day

 

[DarkJuJu]

Just found out my BIL was effected by this, local driver in Flagstaff, was tired of OTL getting home only once or twice a quarter due to covid, all the supply chain struggles, etc. in the last few years. Only had been with them for the last 18 months, I just thought he was working for a local hauling company in Northern Az.

 

[boatnam2]

Well hopefully when Biden gets done making sure all Ukrainian people have money in the pocket maybe there will be some crumbs left for the truckers.

 

[havasu5150]

Why can’t they move onto another union trucking company like most unions.

only two other major union ltl companies left. ABF and Tforce.

 

[JFMFG]

only two other major union ltl companies left. ABF and Tforce.

ABF SUCKS THE ASS. They ding for every little thing. I’ve moved most of our biz to t force and XPO.

 

[hallett21]

So I have a question. Lots of Yellow employees were union correct?

So how is that live better work union bumper sticker working out?

Are Edison Lineman not IBEW?

 

[Shlbyntro]

you know Bezos will swoop in and buy up all their assets for pennies on the dollar

 

[Outdrive1]

you know Bezos will swoop in and buy up all their assets for pennies on the dollar

As he should. Yellow had some old ass equipment 30 years ago.

 

[NHRAFAN]

Are Edison Lineman not IBEW?

Yes they are..

 

[CLdrinker]

Are Edison Lineman not IBEW?

They are.

But I’m not a lineman. And not union. There has been a few attempts to get us to go union and it has failed every time. If we go union there is a good chance I would take a pay cut.

 

[530RL]

Not a bad gig.

Average UPS driver to make $170,000 in pay, benefits with new contract

Current part-time workers also will see a bump in pay and benefits, bringing their pay to at least $25.75 an hour by the end of the 5-year contract.

www.aol.com