Posted on 07/31/2023 6:10:21 AM PDT by Kaiser8408a
Biden: “Its my Presidency and I’ll lie if I want to.” As well as demolish the economy to serve his Progressive green energy agenda.
One of the casualties? Yellow trucking. Carrier Yellow Corp. ceased all operations at 12 p.m. Sunday, according to a notice on the gates at its terminals. Its stock price is now sub $1.
Separate internal documents showed the procedures for closing the facilities as well as “talking points” to be used when informing union employees not to show up for their shifts. The documents indicated the company plans to issue a public statement Monday updating “the state of the company and the operation.”
On Friday, Yellow laid off most of its nonunion employees in areas like customer service, information technology and sales. The company stopped making pickups earlier in the week and has been delivering the remaining freight in its network ahead of what appears to be a permanent closure.
After months of negotiations with its Teamsters workforce, the carrier has been unable to reach terms over proposed operational changes it has said were required for its survival. In a breach of contract lawsuit filed last month regarding the matter, the company said it could be out of cash as soon as mid-July.
Most are expecting Yellow to announce it will file for bankruptcy Monday.
Not surprising given the disastrous earning per share. The culprits? High energy costs and a hostile Teamsters Union (labor costs and practices).
Biden! They call him The Sleeze!
(Excerpt) Read more at confoundedinterest.net ...
Governmental policies should be included in that equation.
Unions and high diesel prices were a huge part of it, but let’s not forget the bankers who bled it dry and heaped tons of debt onto the company.
Holy crap, that is major. I know someone who retired for Yellow, i wonder if his pension is gone?
This will get spun as a plus because of all the emissions that are eliminated by one of the mainstream nut jobs.
What gets me is the company blames fuel costs and the Union and yet lays off the non-union employees first. I would have laid those folks off first!
The company has to file breach of contract w/ the union first, bc the collective agreement is contractual. The non-union employees are probably at will.
It’s basically the same for all employees: no more job. (Thanks, Joey.)
Great another union driving a company out of business
Yup. They got nothing
“Biden is the sleeziest President in history!”
With a media that will back him unconditionally. Biden can say nearly anything, and the media will report it as fact, or if it’s incomprehensible, the media will simply say it’s out of context.
I cannot adequately express my hatred of the media.
The union people were the loaders and drivers. They couldn’t lay them off until the loads already on the books were delivered.
Not too big to fail?
Don’t forget to add massive debt to the mix.
Egad!
This means no more of those triples wiggling their way across the Indiana and Ohio turnpikes...
This will cause a ripple in the freight business. The other trucking companies will have to pick up the slack all while the feds are working to destroy their industry.
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