Posted on Jul 31, 2023
The Yellow trucking company meltdown, explained
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https://www.npr.org/2023/07/30/ [login to see] /yellow-trucking-shutdown-explained
It's the end of the road for one of the nation's largest freight carriers.
Yellow, a trucking company that just three years ago took a $700 million federal pandemic loan, is shutting down, according to the Teamsters union, which represents the company's 22,000 unionized workers.
The company is expected to file for bankruptcy as soon as Monday, according to industry experts, following a recent exodus of customers amid union strife and on top of years of financial troubles.
With 30,000 jobs at stake, it's poised to be the largest trucking bankruptcy in the history of the U.S., experts said. The company, formerly known as YRC Worldwide, is the third largest less-than-truckload carrier by revenue, behind FedEx and Old Dominion. LTL companies move pallet-sized shipments — smaller than a container, but bigger than a parcel.
Yellow has not publicly announced any plans for bankruptcy or a potential shutdown.
It's the end of the road for one of the nation's largest freight carriers.
Yellow, a trucking company that just three years ago took a $700 million federal pandemic loan, is shutting down, according to the Teamsters union, which represents the company's 22,000 unionized workers.
The company is expected to file for bankruptcy as soon as Monday, according to industry experts, following a recent exodus of customers amid union strife and on top of years of financial troubles.
With 30,000 jobs at stake, it's poised to be the largest trucking bankruptcy in the history of the U.S., experts said. The company, formerly known as YRC Worldwide, is the third largest less-than-truckload carrier by revenue, behind FedEx and Old Dominion. LTL companies move pallet-sized shipments — smaller than a container, but bigger than a parcel.
Yellow has not publicly announced any plans for bankruptcy or a potential shutdown.
The Yellow trucking company meltdown, explained
Posted from npr.orgPosted in these groups: 
Bankruptcy
Overland Park
Bankruptcy Overland Park
Posted 10 mo ago
Responses: 3
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PO1 William "Chip" Nagel
..."A world without Yellow
An end to the Nashville-based company would mean the loss of 30,000 jobs.
In its Sunday statement, the Teamsters union said it's working to help "affected members get the assistance they need to find good union jobs throughout freight and other industries."
Atkins doesn't expect the federal government to come to the rescue this time. While there may be some slight disruptions, the analyst anticipates other freight carriers will have some capacity to absorb Yellow's business because of a recent dent in freight volumes.
"This is not going to create a supply-chain crisis," he said.
Retailers and manufacturers are likely to see higher shipping rates if the company folds, he said. Yellow is known for its low shipping rates compared to its rivals.
Atkins visited the Yellow terminal in Little Rock, Ark., on Sunday to find all gates chained up, a sign of ceased operations.
"They've been in wind-down mode, clearing the network out of all the remaining freight," he said. "This is the end.""
..."A world without Yellow
An end to the Nashville-based company would mean the loss of 30,000 jobs.
In its Sunday statement, the Teamsters union said it's working to help "affected members get the assistance they need to find good union jobs throughout freight and other industries."
Atkins doesn't expect the federal government to come to the rescue this time. While there may be some slight disruptions, the analyst anticipates other freight carriers will have some capacity to absorb Yellow's business because of a recent dent in freight volumes.
"This is not going to create a supply-chain crisis," he said.
Retailers and manufacturers are likely to see higher shipping rates if the company folds, he said. Yellow is known for its low shipping rates compared to its rivals.
Atkins visited the Yellow terminal in Little Rock, Ark., on Sunday to find all gates chained up, a sign of ceased operations.
"They've been in wind-down mode, clearing the network out of all the remaining freight," he said. "This is the end.""
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PO1 William "Chip" Nagel
..."A world without Yellow
An end to the Nashville-based company would mean the loss of 30,000 jobs.
In its Sunday statement, the Teamsters union said it's working to help "affected members get the assistance they need to find good union jobs throughout freight and other industries."
Atkins doesn't expect the federal government to come to the rescue this time. While there may be some slight disruptions, the analyst anticipates other freight carriers will have some capacity to absorb Yellow's business because of a recent dent in freight volumes.
"This is not going to create a supply-chain crisis," he said.
Retailers and manufacturers are likely to see higher shipping rates if the company folds, he said. Yellow is known for its low shipping rates compared to its rivals.
Atkins visited the Yellow terminal in Little Rock, Ark., on Sunday to find all gates chained up, a sign of ceased operations.
"They've been in wind-down mode, clearing the network out of all the remaining freight," he said. "This is the end.""
..."A world without Yellow
An end to the Nashville-based company would mean the loss of 30,000 jobs.
In its Sunday statement, the Teamsters union said it's working to help "affected members get the assistance they need to find good union jobs throughout freight and other industries."
Atkins doesn't expect the federal government to come to the rescue this time. While there may be some slight disruptions, the analyst anticipates other freight carriers will have some capacity to absorb Yellow's business because of a recent dent in freight volumes.
"This is not going to create a supply-chain crisis," he said.
Retailers and manufacturers are likely to see higher shipping rates if the company folds, he said. Yellow is known for its low shipping rates compared to its rivals.
Atkins visited the Yellow terminal in Little Rock, Ark., on Sunday to find all gates chained up, a sign of ceased operations.
"They've been in wind-down mode, clearing the network out of all the remaining freight," he said. "This is the end.""
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, but the demand to move goods across country in this strong economy is great {sarc}... as they say, this is an indicator
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