Yellow Officially Ceased Operations Will File Bankruptcy

Yellow still hasn't filed bankruptcy and I came across this Article

I'm not sure what it means, but this is like a drawn out movie.

Hmmm...

We are so far in debt, we can't even service our loan payments while trying to maintain operating expenses. It looks like we need to declare bankruptcy.

Maybe we should just borrow some more money and push the bankruptcy down the road a few more years. Yeah, I like that idea. It really makes a lot of sense!

Hmmm...

We are so far in debt, we can't even service our loan payments while trying to maintain operating expenses. It looks like we need to declare bankruptcy.

Maybe we should just borrow some more money and push the bankruptcy down the road a few more years. Yeah, I like that idea. It really makes a lot of sense!

That's why I'm questioning it... I read it and I understand it, but it makes no sense.

They also fired their entire corporate staff. Who would come back? I know I wouldn't.

My biggest question is what’s going to happen to the drivers who’d been there 30 years and were about to retire? What happens to the pension if they do in fact file bankruptcy?

My biggest question is what’s going to happen to the drivers who’d been there 30 years and were about to retire? What happens to the pension if they do in fact file bankruptcy?

Pension should be fine because it's not owned or controlled by Yellow. They just make the deposits, similar to what a 401k match would be.

I could be wrong, but that's my understanding of it.

I heard about this and couldn't believe it. They fired all managment, dispatchers, HR and other positions. Drivers I think are still laid off if I understand correctly.

All their customers have fled, they stiffed all their suppliers it will be difficult to build that trust back.

Unless they are going to resuscitate the brand without the unions. If they can even legally do that.

With company drivers competing for loads, and already facing a shortage of freight. I can help but wonder what portion of their drivers will end up looking for work in otr and regional even if they don't prefer it, and what effect that will have on us. It's difficult to find metrics on how company drivers are being effected by the market.

I heard about this and couldn't believe it. They fired all managment, dispatchers, HR and other positions. Drivers I think are still laid off if I understand correctly.

All their customers have fled, they stiffed all their suppliers it will be difficult to build that trust back.

Unless they are going to resuscitate the brand without the unions. If they can even legally do that.

Drivers and other union employees are laid off with a 5 year call back window.

The cannot open the company without the union, even if it's sold. The only way they might be able to do that is if they open after the current contract expires which would be April 1, 2024. Even then, it may be an uphill battle.

I also don't think anybody would be interested in buying Yellow.. Too much damage has been done.

Yellow has issued a Press release on their intent to file chapter 11 bankruptcy.

Reading all that press release is very sad. When everything out there in the public domain is considered I think there is much more to the whole story.

I hate to sound like a conspircy theorist but it looks like wall street, teamsters and our gov’t may very well have conspired to take advantage of yellow’s mismangement errors sime to make very large amounts of money, none of which were the 30k employee’s.