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Delaware bankruptcy court says Yellow [Freight] owes pensions, stock drops 90%
Freight Waves ^ | September 13, 2024 | Todd Maiden

Posted on 09/16/2024 5:27:22 AM PDT by Red Badger

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BIDENOMICS!......................
1 posted on 09/16/2024 5:27:22 AM PDT by Red Badger
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To: Red Badger

but......but.... they’ll “build back better”!!!! Spit.


2 posted on 09/16/2024 5:38:52 AM PDT by lgjhn23 ("On the 8th day, Satan created the progressive liberal to destroy all the good that God created..." )
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To: lgjhn23

Delaware is owned by the credit card companies. Joe Biden has always been beholden to them.


3 posted on 09/16/2024 5:40:11 AM PDT by dfwgator (Endut! Hoch Hech!)
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To: lgjhn23

Time to buy on the dip. Not.


4 posted on 09/16/2024 5:56:20 AM PDT by glorgau
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To: Red Badger
The U.S. Treasury holds a 30% stake in Yellow. The equity was issued as part of a collateral package for a $700 million Covid-relief loan it provided to the company in 2020.

Nice investment by the government on behalf of the taxpayer.

5 posted on 09/16/2024 5:59:03 AM PDT by johniegrad
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To: johniegrad

If you play footsies with the government you will eventually get kicked in the knee.....................


6 posted on 09/16/2024 6:00:03 AM PDT by Red Badger (Homeless veterans camp in the streets while illegals are put up in 5 Star hotels....................)
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To: Red Badger

Think you can trust the Government? Ask an Indian.


7 posted on 09/16/2024 6:01:12 AM PDT by dfwgator (Endut! Hoch Hech!)
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To: Red Badger

They have the inverse Midas touch.


8 posted on 09/16/2024 6:01:13 AM PDT by johniegrad
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To: dfwgator

Kamala?......................


9 posted on 09/16/2024 6:07:35 AM PDT by Red Badger (Homeless veterans camp in the streets while illegals are put up in 5 Star hotels....................)
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To: Red Badger

Feather, not Dot.


10 posted on 09/16/2024 6:10:12 AM PDT by dfwgator (Endut! Hoch Hech!)
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To: Red Badger

Back in the 70s when I worked in medical supplies sales and shipping, Yellow Freight was our go-to shipper. Sorry to see them go as I expect that our leftist government helped that process along very quickly.


11 posted on 09/16/2024 6:10:47 AM PDT by Gaffer
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To: Red Badger

The real culprit is defined benefit plans altogether.


12 posted on 09/16/2024 7:57:47 AM PDT by Wuli
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To: Red Badger

I wonder if Pelosi is busting at the dip?


13 posted on 09/16/2024 8:30:00 AM PDT by DownInFlames (P)
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To: Red Badger
If you play footsies with the government you will eventually get kicked in the knee...

The government got paid back.

This looks like a typical raid by Vulture Capital firms to force the sale of $2B in real estate and assets owned by Yellow Freight, citing debt as the justification.

Lather, rinse, repeat...

Cui bono? (who benefits?)

14 posted on 09/16/2024 10:31:13 AM PDT by T.B. Yoits
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To: T.B. Yoits

I used to work for a company that was taken over by ‘Corporate Raiders’ what you call ‘Vulture Capitalists’.

They immediately set about tearing the company apart, selling off assets and firing employees that had been there since the company was founded.

Policies that employees enjoyed, like free turkeys at Thanksgiving, Christmas bonuses based on longevity and matching contributions to 401K all went away overnight..................


15 posted on 09/16/2024 10:37:54 AM PDT by Red Badger (Homeless veterans camp in the streets while illegals are put up in 5 Star hotels....................)
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To: Red Badger
Been there, went through that.

The corporate raiders never intended to run the company, only to break it up and sell it off before discarding the carcass. Any tax breaks need to be paid back in full.

16 posted on 09/16/2024 10:46:14 AM PDT by T.B. Yoits
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To: T.B. Yoits

Many good people lost their jobs they had, for decades in some cases.................


17 posted on 09/16/2024 10:48:08 AM PDT by Red Badger (Homeless veterans camp in the streets while illegals are put up in 5 Star hotels....................)
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To: Red Badger

Where is James Riddle Hoffa when we need him...

Only the federal government knows...
It disappeared him...


18 posted on 09/16/2024 11:09:45 AM PDT by SuperLuminal ( Where is Samuel Adams when we so desperately need him)
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To: Red Badger

Companies owning companies. Pensions should be covered by the company, and if that fails, by whatever company owned the first company. Too many big companies by smaller companies in order to raid the pension funds.


19 posted on 09/16/2024 11:11:28 AM PDT by aimhigh (1 John 3:23 "And THIS is His commandment . . . . ")
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To: Gaffer

Just kind of an overall question to everyone who dealt with Yellow freight.
I’ve always wondered why the logo for yellow freight was done in the color Orange?


20 posted on 09/16/2024 5:29:16 PM PDT by ExSafecracker (. . . FJB . . .)
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