99-year-old trucking company Yellow shuts down, putting 30,000 out of work

CNN ^ | Updated 3:27 PM EDT, Mon July 31, 2023 | By Chris Isidore, CNN

[Red Badger]

Yellow Corp., a 99-year-old trucking company that was once a dominant player in its field, halted operations Sunday and will lay off all 30,000 of its workers.

The unionized company has been in a battle with the Teamsters union, which represents about 22,000 drivers and dock workers at the company. Just a week ago the union canceled a threatened strike that had been prompted by the company failing to contribute to its pension and health insurance plans. The union granted the company an extra month to make the required payments.

But by midweek last week, the company had stopped picking up freight from its customers and was making deliveries only of freight already in its system, according to both the union and Satish Jindel, a trucking industry consultant.

While the union agreed not to go on strike against Yellow, it could not reach an agreement on a new contract with the trucking company, according to a memo sent to local unions Thursday by the Teamsters’ negotiating committee. The union said early Monday that it had been notified of the shutdown.

“Today’s news is unfortunate but not surprising. Yellow has historically proven that it could not manage itself despite billions of dollars in worker concessions and hundreds of millions in bailout funding from the federal government. This is a sad day for workers and the American freight industry,” said Teamsters President Sean O’Brien in a statement.

Company officials did not respond to numerous requests for comment Sunday and Monday.

While the company is based in Nashville, Tennessee, it is a national company with terminals and employees spread between more than 300 terminals nationwide. Experts in the field said it was primarily an unaffordable amount of debt, more than the cost of the union contract, that did in Yellow.

[mewzilla]

Meanwhile...

THB: . @RepMattGaetz just directly told me (confirmed) that the $40 Billion Aide Bill passed in April for Ukraine included funding the pensions of average Ukrainian workers. People over 50, Do I you paying attention now? (VIDEO)

Yellow Corp trucking company mentioned.

[NorthMountain]

Teamsters’ union supports Democrat party politicians.

Democrat party politicians destroy the American economy and oppose hydrocarbon fuels.

Trucking company ceases operations, ending the jobs of 22,000 Teamsters’ union members.

Union bosses unaffected ...

[Red Badger]

As Billy Joel sang in “Allentown”..............

And the Union people crawled awaaaaaayyyy............