Yellow Corp shut down today
- Thread starter Creekside
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Waiting for "Company Man" YouTube channel to make a video on Yellow Corp.
Yellow is shutting down after 99 years. Here's what happened.
The trucking company, once one of the U.S.' largest, will cease operations amid battle with union and struggles to pay debts.
Better article:
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www.investopedia.com
Trucking Company Yellow Filing for Bankruptcy Amid Union Standoff and $1.3B Debt
Cash-strapped, with $1.3 billion in debt due next year, trucking company Yellow is shuttering operations amid a union standoff.
LOTS and LOTS of layoffs going on, the "NEWS" isn't going to talk about it.
These people that are being laid off are flooding the market with decent talent, not sure if any of you talk to many people, but it's not so tough to find decent employees anymore. Employers can weed through the poor decisions and hire good people now.
Many people that refused to work the last 3 years are crying about how tough it is to find a job now...
These people that are being laid off are flooding the market with decent talent, not sure if any of you talk to many people, but it's not so tough to find decent employees anymore. Employers can weed through the poor decisions and hire good people now.
Many people that refused to work the last 3 years are crying about how tough it is to find a job now...
I have always said this. If you don't know or don't see it, you're blind to what goes on in the real world.
daily job cuts (dot) com.
Lots of lay offs and even ‘healthy’ companies in big tech trimming the fat.
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Likely possible at sears - its publicly traded - you see the earnings, you see the foot traffic.
Should have been possible at Yellow - its been discussed for a while.
Not sure about everywhere. Maybe if your paycheck is late. That is why I mentioned that earlier in this thread.
A friend of mine worked for a good size industrial distributor. There biggest customer went bottoms up - left them hanging for millions in receivables. So the distributor declared bankruptcy. I believe they paid their employees as a last act - but still no one except a few in accounting really had a clue up to then.
I think its situation dependent.
I love his videos and footage of company videos.
It has been known for a long time they will go under. Horrid management for a long time. Too much debt. CEO’s who want to be next Jack Welch (from which GE is still recovering).
Perhaps someone will buy the assets of the company cheaply in bankruptcy and start an "Orange Corp" trucking company.
Looks like R+L Carriers is trying to pick up some of the locations and assests associated.
I fear bad times are ahead for a lot of companies and workers. I am hoping to protect myself by not buying anything not absolutely necessary and keeping cash.
The gift keeps on giving. Yellow received $700M COVID-era loan combined with 30% USG stake. Company was deemed vital to national security. Isn't everything? *eye rolling*
You should message him to do a video
I don't know how to email a YouTuber.
At least the $30B federal bailout to the Teamsters pension fund last year (distributed 1/2023) will lessen the blow from this other foot dropping..Better article:
Trucking Company Yellow Filing for Bankruptcy Amid Union Standoff and $1.3B Debt
Cash-strapped, with $1.3 billion in debt due next year, trucking company Yellow is shuttering operations amid a union standoff.
Yes, some locations are good and other companies will be interested in them.
30,000 but I'm sure some will get hired by competitors and/or retained by a buyer who wants to swoop in after a ton of debt has been discharged.
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