A U.S. bankruptcy judge on Friday approved Yellow Corp's $82.9 million sale of 23 leased shipping centers to six other trucking companies, one month after the majority of the company's real estate ... Yellow’s plan to close nine terminals emerged last week after it issued a notice to the Teamsters. The proposal also calls for the consolidation of 20 YRC Freight and Reddaway facilities and the realignment of ZIP codes in the West. Yellow ( NASDAQ: YELL) reported its best first quarter in six years after the market closed Tuesday. Aug 7, 2023 · 1:07. U.S. trucking giant Yellow Corp. has announced that it has declared bankruptcy following a tense standoff with the Teamsters Union and after a massive pandemic-era federal loan failed to ... As such, even if there were some means to revive Yellow, it would have no freight to haul.” As of March, Jack Cooper Transport operated 1,205 trucks and employed 1,092 drivers, according to ...· Wednesday, February 14, 2024. Yellow has repaid all of its secured creditors. (Photo: Jim Allen/FreightWaves) The venue for deciding the fate of $7.2 billion in pension withdrawal …Dec 12, 2023 · Todd Maiden. · Tuesday, December 12, 2023. A quick sale could save the estate millions in taxes and interest expenses. (Photo: Jim Allen/FreightWaves) The $1.88 billion sale of 130 of Yellow’s less-than-truckload terminals was approved by a Delaware bankruptcy court on Tuesday. A revised sale order is expected to be received by the court and ... Trucking firm Estes Express has submitted a revised stalking horse bid worth $1.525 billion in cash for bankrupt Yellow Corp's shipment centers, according to a bankruptcy court filing on Wednesday.Yellow Corp., a once-dominant US trucking company, has filed for bankruptcy as it winds down its 99-year-old business that employs 30,000 workers.The union says its “bottom-line proposal” seeks the $11-per-hour wages and benefits hike previously offered by the company. A July 12 letter from Yellow’s ( NASDAQ: YELL) CEO to the ...Jul 31, 2023 · Yellow Corp., formerly known as YRC Worldwide Inc., has ceased operations and is filing for bankruptcy, according to the Teamsters Union and multiple U.S. media reports, putting roughly 30,000 ... Todd Maiden. · Tuesday, June 27, 2023. Shares of Yellow Corp. sink on Tuesday as a lawsuit shows the carrier is running out of options. (Photo: Jim Allen/FreightWaves) Less-than-truckload carrier Yellow Corp. announced Tuesday that it has filed a $137 million breach of contract lawsuit against the International …Get the latest Yellow Corp (YELLQ) real-time quote, historical performance, charts, and other financial information to help you make more informed trading and investment decisions.The Daily Dash is a quick look at what is happening in the freight ecosystem. In today’s edition, we highlight the top 10 Biden appointees in the freight industry; a recall at Daimler; growth plans at Yellow Corp.; and big news in the tire industry. Read More » Todd Maiden Monday, February 15, 2021Yellow is set to raise more than $2 billion after a bankruptcy auction that will disperse much of its national network of truck terminals among rivals, casting deeper doubt on a long shot bid to ...The union said two of Yellow’s operating companies, Holland and Yellow Freight, missed a $50 million payment due July 15 to the Central States Health and Welfare Fund and the Central States ...The health coverage costs $471.86 per week through July 29, increasing to $507.08 per week through July 2024, the notice stated. Payments must be received by Aug. 23. Roughly half of Yellow’s Teamster employees are covered by Central States. Asked about the likelihood of a work stoppage if the payment isn’t made, Yellow declined …By Dietrich Knauth. NEW YORK (Reuters) - Yellow Corp received U.S. bankruptcy court approval on Friday to sell its vehicle fleet by October, while continuing to market its real estate assets ...Oct 30, 2023 · This would throw an unexpected curveball into the sale process. Yellow has been trying to offload approximately 11,700 trucks and 34,800 trailers, along with roughly 170 terminals. It wants to ... Yellow had generated just $89 million in the fourth and first quarters. That filing also showed the company had in excess of $100 million in cash and equivalents as of June 30.Aug. 8, 2023, 2:23 PM PDT. By Rob Wile. The U.S. just lost as much as 15% of its small-batch trucking capacity — and consumers are likely to feel the effects in higher prices as the holiday ...Aug 7, 2023 · Box trailers and trucks are seen at Yellow Corp. trucking facility Monday, July 31, 2023 in Nashville, Tenn. The troubled trucking company is shutting down and filing for bankruptcy, the Teamsters said Monday. An official bankruptcy filing is expected any day for Yellow, after years of financial struggles and growing debt. By Dietrich Knauth. NEW YORK (Reuters) - Yellow Corp received U.S. bankruptcy court approval on Friday to sell its vehicle fleet by October, while continuing to market its real estate assets ...Yellow has already begun sending its equipment to liquidators for sale over the coming year. And it has accepted a stalking-horse, or lead, bid of $1.525 billion from rival trucker Estes Express ...Adam Davis/EPA, via Shutterstock. By Peter Eavis. Dec. 7, 2023. Yellow, the trucking company that shut down its operations and filed for bankruptcy protection this …Jul 28, 2023 · As of the end of March, Yellow’s outstanding debt was $1.5 billion, including about $730 million that is owed to the federal government. Yellow has paid approximately $66 million in interest on ... A Yellow Freight/Roadway Express truck travels east on I-70, near Lecompton, Kansas. [AP Photo/Orlin Wagner] The Yellow Corporation, the largest freight trucking company in the US, is currently ...July 26 (Reuters) - U.S. trucking firm Yellow (YELL.O) is preparing to file for bankruptcy, the Wall Street Journal reported on Wednesday, as customers abandon the company amid a cash crunch and ...FreightWaves is the most trusted provider of global supply chain market intelligence. Our high-frequency price, demand, and capacity data and analysis allow our customers to benchmark, analyze, monitor and forecast the global physical economy.July 26 (Reuters) - U.S. trucking firm Yellow (YELL.O) is preparing to file for bankruptcy, the Wall Street Journal reported on Wednesday, as customers abandon the company amid a cash crunch and ...After nearly 100 years in operation, U.S. trucking giant Yellow Corp is shutting down operations. The company sent notices to customers and employers, according to a report from The Wall Street ...The Chapter 11 bankruptcy, which was filed Sunday, Aug. 6, 2023, comes just three years after Yellow received $700 million in pandemic-era loans from the federal government. (AP Photo/George Walker IV, File) Box trailers and trucks are seen at Yellow Corp. trucking facility Monday, July 31, 2023 in Nashville, Tenn.Trucking firm Estes Express submitted a revised bid worth $1.525 billion in cash for Yellow Corp's shipment centers, topping a $1.5 billion bid from Old Dominion Freight Line , opens new tab.Forward Air targets LTL growth following Omni acquisition. Favorable year-over-year volume improvement for the segment offers a promising outlook, according to interim CEO Michael Hance. Trucking Dive provides in-depth journalism and insight into the most impactful news and trends shaping the trucking industry.News and analysis of less-than-truckload rates, capacity, supply, demand, economics, technology, regulation, strategies Maritime. Container Shipping News Breakbulk News Port News. Surface. Trucking News Rail ... FedEx Freight …End of an EraIt is a profound disappointment after nearly 100 years of business we have ceased operations and filed voluntary Chapter 11 petitions on August 6th, 2023. Read the full announcement here.On August 6, 2023, Yellow Corporation and certain of its affiliates, including YRC Inc. (d/b/a YRC Freight), USF Holland, USF Reddaway, New Penn…Here's what happened. Yellow Corp., a beleaguered trucking company that was once one of the U.S.' largest transporters of goods, has ceased operations and is …Trucking firm Estes Express has submitted a revised stalking horse bid worth $1.525 billion in cash for bankrupt Yellow Corp's shipment centers, according to a bankruptcy court filing on Wednesday.Nov 8, 2023 · Nov. 8, 2023, at 5:01 p.m. Pressure Grows on US Treasury to Salvage Trucking Giant Yellow. Reuters. FILE PHOTO: Semi truck trailers are pictured at freight trucking company Yellow’s terminal ... U.S. lawmakers are fighting to keep Yellow Corp. alive. Eight U.S. senators asked the Treasury department to extend the maturity date for $700 million in loans that Yellow obtained under the CARES ...Local News / Aug 10, 2023 / 07:35 PM CDT. Yellow Freight employees worried after insurance & pay is stopped.What’s Next for Yellow Trucking? As the company rejected Amico’s proposal, Yellow’s management intends to complete its bankruptcy plan, as per the New York Times.On Monday, Central States issued a delinquency notice to plan participants working at Yellow ( NASDAQ: YELL) operating companies YRC Freight and Holland. The letter said the companies had deferred health and welfare and pension contributions due this past Saturday and would do the same for payments due August 15.Todd Maiden. · Sunday, July 30, 2023. A bankruptcy filing could be announced Monday. (Photo: Jim Allen/FreightWaves) Less-than-truckload carrier Yellow Corp. ceased all operations at 12 p.m. Sunday, according to a notice on the gates at its terminals. Separate internal documents showed the procedures for closing the …Trucking Titan TFI Makes $1.1 Billion Deal as Yellow Offloads More Terminals. Story by Glenn Taylor. • 2mo • 4 min read. TForce Freight parent TFI International will pony up $386 million in ...Yellow, one of the oldest and biggest U.S. trucking businesses, filed for bankruptcy earlier in August after struggling with debt and a standoff with the Teamsters union. The closure meant the ...The union said two of Yellow’s operating companies, Holland and Yellow Freight, missed a $50 million payment due July 15 to the Central States Health and Welfare Fund and the Central States ...“FedEx Freight gave us a taste a few weeks ago with their August quarter results,” wrote Susquehanna’s Majors on Wednesday. “But we’ll see what Yellow’s exit really means for LTL ...Aug 7, 2023 · Dorothy Hastings. Yellow, one of the nation’s largest freight and trucking companies, announced it is shutting down, leading to one of the largest mass layoffs in recent history and potential ... The Teamsters union and Yellow Corp., the union’s largest employer in the less-than-truckload (LTL) sector, will resolve their change of operations differences as part of their national freight contract negotiations of a labor agreement expiring next March 31.. That will give the Teamsters four national contracts to resolve in the next year—UPS …Yellow, a 99-year-old company headquartered in Nashville, Tennessee, employs some 30,000 workers. About 22,000 of them are represented by the Teamsters union. Teamsters and Yellow have been locked in a monthslong strife over changing key work rules at the trucking fleet. Now, sources say Yellow may file for bankruptcy …Trucking Titan TFI Makes $1.1 Billion Deal as Yellow Offloads More Terminals. Story by Glenn Taylor. • 2mo • 4 min read. TForce Freight parent TFI International will pony up $386 million in ...A Monday statement from Teamsters National Freight Director John Murphy to local unions says Yellow is withdrawing two previously filed change of operations requests in efforts to “significantly modify” the terms. The changes will be fast-tracked as the carrier intends to “refile them in the very near future.”.Less than truckload (LTL) refers to shipping services for relatively small loads of freight (typically between 150 and 15,000 pounds). One of the main benefits of the LTL industry is cost …Aug 7, 2023 · Box trailers and trucks are seen at Yellow Corp. trucking facility Monday, July 31, 2023 in Nashville, Tenn. The troubled trucking company is shutting down and filing for bankruptcy, the Teamsters said Monday. An official bankruptcy filing is expected any day for Yellow, after years of financial struggles and growing debt. Mike Blake | Reuters. A group of investors hoping to salvage shuttered trucking giant Yellow (formerly YRC) were dealt a setback on Thursday when executives …July 20, 2023 · 7 min read. With two big Teamsters-related issues grabbing the trucking headlines, it was no surprise that the focus of the State of Freight webinar for July was on Yellow Corp ...Aug 1, 2023 · 7 of 9 |. Box trailers and trucks are seen at Yellow Corp. trucking facility Monday, July 31, 2023 in Nashville, Tenn. The troubled trucking company is shutting down and filing for bankruptcy, the Teamsters said Monday. An official bankruptcy filing is expected any day for Yellow, after years of financial struggles and growing debt. Arcadio Gonzlalez, a former Yellow employee based in Wheeling, Illinois, said he has some 130 hours unpaid — roughly equal to more than three weeks of unpaid vacation. Yellow revealed in a Monday bankruptcy filing that it would seek $92.9 million to pay outstanding PTO. However, it’s immediately … A second lot of Yellow’s terminals have found new homes, according to a Wednesday filing in a Delaware bankruptcy court. The latest auction for a portion of the defunct less-than-truckload carrier’s leased properties raked in $83 million across 23 locations. The first wave, which included 130 terminals — only two of which were leased ... Updated: Nations Capital and Ritchie Bros. have six months to clear Yellow’s terminals and until early 2025 to find buyers for about 12,000 trucks and 42,000 trailers.Oct 4, 2023 · A number of trucking companies are set to benefit from the demise of Yellow Corp., according to Susquehanna Financial Group. In August the Nashville, Tenn. less-than-truckload company announced ... A Monday statement from Teamsters National Freight Director John Murphy to local unions says Yellow is withdrawing two previously filed change of operations requests in efforts to “significantly modify” the terms. The changes will be fast-tracked as the carrier intends to “refile them in the very near future.”.Oct 30, 2023 · This would throw an unexpected curveball into the sale process. Yellow has been trying to offload approximately 11,700 trucks and 34,800 trailers, along with roughly 170 terminals. It wants to ... 573 layoffs hit logistics firms in California, Illinois and Michigan. Over 570 layoffs hit freight-related companies in California, Illinois and Michigan, with firms citing market conditions and loss of customers as reasons for the job cuts. Read More ». John Kingston Monday, February 26, 2024.Aug 16, 2023 · Yellow stunned the trucking industry when it filed for bankruptcy this month. The nearly hundred-year old company said it will lay off 30,000 employees and liquidate all of its assets. On today's ... Yellow Corp. is liquidating in Ch.11 ... Old Dominion Freight Line then submitted a higher bid of $1.5 ... As of today's market close and since the all-time low reached just 8 months ...A Tuesday letter from Teamsters leadership to local unions representing all of Yellow Corp.’s network said emergency negotiations that began on Sunday haven’t yielded an agreement. The union says its “bottom-line proposal” seeks the $11-per-hour wages and benefits hike previously offered by the company. A July 12 letter from …Forward Air targets LTL growth following Omni acquisition. Favorable year-over-year volume improvement for the segment offers a promising outlook, according to interim CEO Michael Hance. Trucking Dive provides in-depth journalism and insight into the most impactful news and trends shaping the trucking industry. New bidder for Yellow Corp assets emerges in private trucking company. A private trucking company — with union backing — is trying to emerge ahead of Estes Express Lines and Old Dominion ... Unifor Local 4209, which represents 128 truckers and linehaul drivers working for Canadian Yellow subsidiary YRC Freight Canada, ... “Today’s news is unfortunate but not surprising.Adam Davis/EPA, via Shutterstock. By Peter Eavis. Dec. 7, 2023. Yellow, the trucking company that shut down its operations and filed for bankruptcy protection this …Less-than-truckload carrier Yellow Corp. filed revised change-of-operations notifications with the Teamsters union on Monday. An original plan to consolidate operations at regional carriers New Penn and Holland with its national YRC Freight network received pushback from the union in December, forcing the carrier to revisit the …Jul 28, 2023 · As of the end of March, Yellow’s outstanding debt was $1.5 billion, including about $730 million that is owed to the federal government. Yellow has paid approximately $66 million in interest on ... Todd Maiden. · Sunday, July 30, 2023. A bankruptcy filing could be announced Monday. (Photo: Jim Allen/FreightWaves) Less-than-truckload carrier Yellow Corp. ceased all operations at 12 p.m. Sunday, according to a notice on the gates at its terminals. Separate internal documents showed the procedures for closing the facilities as well as ...July 6, 2023 · 9 min read. Yellow employs some 22,000 workers represented by Teamsters. (Jim Allen/FreightWaves) Last month, Teamsters claimed Yellow ( NASDAQ: YELL ), … The auction for the bankrupt company’s less-than-truckload terminals began Tuesday morning, with an expectation that winning bids would be revealed Friday. The court document said it may now be Tuesday (Dec. 5) before the new owners of the service centers are made public. Yellow operated roughly 300 terminals before it ceased operations at ... Dec 26, 2023 · Greenwich, Connecticut-based XPO Inc. (NYSE: XPO), a freight and logistics company, made headlines earlier this month with the news that it had submitted a winning $870 million bid to purchase 26 ... The Chapter 11 bankruptcy, which was filed Sunday, Aug. 6, 2023, comes just three years after Yellow received $700 million in pandemic-era loans from the federal government. (AP Photo/George Walker IV, File) Box trailers and trucks are seen at Yellow Corp. trucking facility Monday, July 31, 2023 in Nashville, Tenn.Nashville-based Yellow (Nasdaq: YELL) is about $1.5 billion in debt. About $1.3 billion of that matures in 2024, including a $700 million loan from the federal government in 2020 through the ...Old Dominion Freight Line Inc.’s stock ODFL, +1.27% slipped 0.2% after falling 1.9% on Monday. The stock had closed at a record $427.59 on July 28, after running up 11.6% since July 17.Todd Maiden. · Monday, October 30, 2023. Most carriers see pricing and margins improve sequentially in the third quarter. (Photo: Jim Allen/FreightWaves) The third-quarter earnings season showed all publicly traded less-than-truckload carriers experienced some type of bump following Yellow’s …News Releases Year. Yellow Pays Back $700 Million Cares Act Loan. Feb 05, 2024 Discover what the largest LTL Network Alliance can do for you. Policy & Practices. Legal Disclaimer. Careers. Contact Us. Investors. Opens in a new window. Opens in a new window ...Updated on. September 14, 2023 at 2:32 PM PDT. Just weeks before closing its doors and dismissing thousands of employees, Yellow Corp. doled out millions of dollars in …
End of an EraIt is a profound disappointment after nearly 100 years of business we have ceased operations and filed voluntary Chapter 11 petitions on August 6th, 2023. Read the full announcement here.On August 6, 2023, Yellow Corporation and certain of its affiliates, including YRC Inc. (d/b/a YRC Freight), USF Holland, USF Reddaway, New Penn…. Aaims property management inc
It opened at $1.50 on Monday and closed at $1.36 a share. Yellow CEO Darren Hawkins had the most shares of vested restricted stock sold, with Fidelity moving 331,751 shares worth $516,956 ...1 of 9 |. Box trailers and trucks are seen at Yellow Corp. trucking facility Monday, July 31, 2023 in Nashville, Tenn. The troubled trucking company is shutting …End of an EraIt is a profound disappointment after nearly 100 years of business we have ceased operations and filed voluntary Chapter 11 petitions on August 6th, 2023. Read the full announcement here.On August 6, 2023, Yellow Corporation and certain of its affiliates, including YRC Inc. (d/b/a YRC Freight), USF Holland, USF Reddaway, New Penn…Aug 7, 2023 · Box trailers and trucks are seen at Yellow Corp. trucking facility Monday, July 31, 2023 in Nashville, Tenn. The troubled trucking company is shutting down and filing for bankruptcy, the Teamsters said Monday. An official bankruptcy filing is expected any day for Yellow, after years of financial struggles and growing debt. News recently broke that Yellow Freight would be ceasing operations after 99 years in business, leading many to wonder why the company shut down. Distractify Joseph AllenA Tuesday letter from Teamsters leadership to local unions representing all of Yellow Corp.’s network said emergency negotiations that began on Sunday haven’t yielded an agreement. The union says its “bottom-line proposal” seeks the $11-per-hour wages and benefits hike previously offered by the company. A July 12 letter from …News Releases Year. Yellow Pays Back $700 Million Cares Act Loan. Feb 05, 2024 Discover what the largest LTL Network Alliance can do for you. Policy & Practices. Legal Disclaimer. Careers. Contact Us. Investors. Opens in a new window. Opens in a new window ...Less-than-truckload carrier Yellow Corp. ( NASDAQ: YELL) announced Tuesday the departure of COO T.J. O’Connor and Chief Network Officer Scott Ware. Darrel Harris, who was brought on board in November to head the company’s strategic initiatives, will take over as president. Harris has 25 years of …Less-than-truckload carrier Yellow Corp. filed revised change-of-operations notifications with the Teamsters union on Monday. An original plan to consolidate operations at regional carriers New Penn and Holland with its national YRC Freight network received pushback from the union in December, forcing the carrier to revisit the …The embattled US trucking company Yellow ceased operations on Sunday, and it has laid off all 30,000 of its workers. Yellow, once one of America’s dominant shipping companies, intends to file ...Adam Davis/EPA, via Shutterstock. By Peter Eavis. Dec. 7, 2023. Yellow, the trucking company that shut down its operations and filed for bankruptcy protection this …Less than truckload (LTL) refers to shipping services for relatively small loads of freight (typically between 150 and 15,000 pounds). One of the main benefits of the LTL industry is cost …December 8, 2023 at 6:05 AM PST. Save. Listen. 2:25. Defunct cargo hauler Yellow Corp. rejected a long-shot offer to revive the bankrupt company, a lawyer for the trucking firm said in a letter ...Aug 8, 2023 · Aug 7 (Reuters) - Some 30,000 workers at Yellow Corp (YELL.O) were looking for jobs on Monday after the major trucking company filed for Chapter 11 bankruptcy protection, potentially saddling U.S ... XPO entered a financing agreement to fund the $870 million acquisition of 28 of Yellow's terminals. (Photo: Jim Allen/FreightWaves) Less-than-truckload carrier XPO reported shipments were up again in November but that lower shipment weights dragged down tonnage. The Tuesday report showed the year-over-year …The Chapter 11 bankruptcy, which was filed Sunday, Aug. 6, 2023, comes just three years after Yellow received $700 million in pandemic-era loans from the federal government. (AP Photo/George Walker IV, File) Box trailers and trucks are seen at Yellow Corp. trucking facility Monday, July 31, 2023 in Nashville, Tenn..