The closing is bad news not only for its employees and its customers, who generally used Yellow because it offered some of the cheapest rates in the truckingsector, but also for U.S. taxpayers. The company received a $700 million loan from the federal government in 2020, a loan that res...
news home trucking firm xpo to buy bankrupt yellow's service centers for $870 million by reuters | dec. 5, 2023 by reuters | dec. 5, 2023, at 8:42 a.m. save comment more trucking firm xpo to buy bankrupt yellow's service centers for $870 million more reuters file...
A group of investors hoping to salvage shuttered trucking giant Yellow (formerly YRC) weredealt a setbackon Thursday when executives fromthe bankrupt companyturned down a billion-dollar bid that would have scooped up much of what was left. But the group of investors led by trucking executiv...
Roper, who turns 59 in October, said he's not ready to retire and has already started applying for jobs elsewhere. But the kind of trucking job he had at one of Yellow's regional carriers — the kind that lets him see his family every night — is difficult to find in the trucking b...
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SurfaceTrucking NewsLTL William B. Cassidy, Senior Editor | Jun 8, 2023, 3:06 PM EDT printmail The Teamsters union and its largest trucking employer, Yellow, are apparently deadlocked in a disagreement over the company’s effort to combine its less-than-truckload (LTL) subsidiaries into one ...
SurfaceTrucking NewsLTL William B. Cassidy, Senior Editor | Jul 31, 2023, 11:09 AM EDT printmail Trucking company Yellow survived several brushes with bankruptcy in the past two decades but could not pull through its latest crisis. The 99-year-old less-than-truckload (LTL) carrier, which ...
Hawkins explained that Yellow intends to “wind down [its] business, maximise recoveries for creditors, and pay back the CARES Act loan in full”. Yellow claims that it is committed to helping its employees find new work and has partnered with the American Trucking Associations (ATA) to launch...
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“It is with profound disappointment that Yellow announces that it is closing after nearly 100 years in business,” said Yellow’s Chief Executive Officer, Darren Hawkins. “Today, it is not common for someone to work at one company for 20, 30, or even 40 years, yet many at Yellow did...