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

[Rams]

Yellow Freight shuts down

https://www.aol.com/finance/99-old-trucking-company-yellow-102722854.html

That's about 30,000 folks out of work, which is never a good thing but, the effect to the supply chain is hard to call.  What I will predict is that shipping LTL is going to get more expensive.

Rams

[Jess from VA]

What I will predict is that shipping LTL is going to get more expensive.

Pretty fair prediction, considering that everything is more expensive.

$450 for lumber for 4 new shed doors, and the two new roofs (labor and materials) each cost more than the entire sheds did.  Gallon of good paint - over $50.   

[hubcapsc]

The dismissals included members of the company’s sales force, business
operations and technology department, the people said. Yellow’s unionized
drivers and freight handlers weren’t part of the layoffs, they said.

-Mike

[old2soon]

    AND in case anyone missed this some yaers back Yellow Freight bought Roadway out and for awhile was known as Y R C! And I've also been retired over 14 year now. RIDE SAFE.

[carolinarider09]

I saw this news as well and was torn on the why.   If demand is up and the goods are available, why can they not make money?   

Is it bad management?   Is it a union issue?   Something else?

[hubcapsc]

Yellow, formerly known as YRC Worldwide, has seen freight volumes
and rates drop following lower shipping demand. It has seen freight
volumes fall 80% in recent days, a TD Cowen report shows, as customers
worried that its dispute with the Teamsters would end badly.

[0leman]

there is a rumor that money is been created to keep the trucks moving.  Maybe something int the news today. 

[Oss]

why do sides allow the golden goose to die?

When my granddad was in the newpaper union (1920) men shared a single shift if that is what it took to save the job and the company and the union

WTF is wrong these days with labor and management?  and the government regulators?

[old2soon]

why do sides allow the golden goose to die?

When my granddad was in the newpaper union (1920) men shared a single shift if that is what it took to save the job and the company and the union

WTF is wrong these days with labor and management?  and the government regulators?

     Other union outfits have died over the years. Trucking profits have Always been thin at best and sometimes close to nonexistent. BUT upper management and labor want a bigger slice of the pie BUT rates are not Allowed to keep pace with the added costs of trucking. Would you keep a vehicle that got only 7 or 8 miles to the gallon? And to keep fuel in those tanks and tires on trucks and trailers and drivers in the seats and benefits being paid and damages-real or imagines-being taken care of takes a steady income stream more so than most other businesses. Big trucking outfits purchase tires a couple hundred at a time order multiple gallons of lube oil and filters and pounds of grease and most suppliers DESIRE rather strongly to keep gittin paid. BUT id management salaries take a huge bite BEFORE expenses are met what happened at Yellow can and will happen to any other huge union operation. And NO I am NOT dissing unions But sometimes unions ask for more than is available. RIDE SAFE.

[luftkoph]

it's easy to lay blame on the unions, but since de regulation of freight rates and routes in 1980 the list of LTL's that have gone under is tragic, the consumers were supposed to benefit from the cheaper freight rates, what a joke, all it did was kill many good paying blue collar. jobs and turn it into the crap show trucking is now, any yahoo with a couple thousand dollars can get their DOT number and be a trucking company.

Carolina, McLean, CF, PIE, Navajo, Roadway, transcon, Overnite, Hall, Lee way, St. Johnsbury, smiths transfer, Time dc, Spector red ball, these are just a few I can remember off hand, and these were big outfits.

just ask anyone who was in trucking before de regulation or in the airlines or railroad before congress de regulated them, how it was then vs. now.

You hate all the trucks clogging up the freeways well Mr. and Mrs. consumers you reap what you sow, it would be a lot more efficient if a lot of that freight was on rail, but a lot of the rail got tore up because the railroad couldn't compete with the cheap ass rate cutting trucking companies after de regulation, so many trucks on the road are bouncing (running empty) to  get to another load, where as the LTL companies had a hub and spoke system of terminals so the need to run trucks empty was minimal, less trucks on the road to get the job done less fuel burnt, less wear on the roads.

the greed in this wasn't the workers it was and is your big corps. GE,Walmart,general foods, kellog, pick which one you want.

[hubcapsc]

I don't use the Interstates much... I didn't know Roadway was gone. That
was one of the main ones...



-Mike