YELLOW trucking files bankruptcy

[nobody's_hero]

https://www.foxbusiness.com/economy...down-operations-amid-standoff-teamsters-union

Formerly known as YRC Worldwide Inc., Yellow was one of the nation's largest less-than-truckload carriers with some 30,000 employees across the country.

The shutdown comes after more than a decade of financial struggles and seeing customers leave in droves.

FreightWaves reported last week that employees were told to expect the filing Monday. Yellow laid off an unknown number of employees Friday, the outlet later reported, citing a memo that stated the company was "shutting down its regular operations."

 

[acptulsa]

Yellow and Roadway were both once considered too big to fail.

Did they stop doing "less-than-truckload" right, or is there simply no longer any businesses small enough that they can't completely fill a trailer with a day's production?

 

[A Son of Liberty]

Yellow and Roadway were both once considered too big to fail.

Did they stop doing "less-than-truckload" right, or is there simply no longer any businesses small enough that they can't completely fill a trailer with a day's production?

I have a little experience with the trucking world so I'm by no means an expert, but my guess is that the advent of "hotshot" trucking has made the LTL tractor-trailer business impractical and obsolete.

 

[Krugminator2]

I have a little experience with the trucking world so I'm by no means an expert, but my guess is that the advent of "hotshot" trucking has made the LTL tractor-trailer business impractical and obsolete.

Old Dominion Saia XPO Logistics Arc Best JB Hunt seem to be figuring it out.

My dad worked his entire career for Roadway. Even before this freight recession, they have constantly been on the verge of failure. They ultimately failed for one major reason. The Teamsters killed the golden goose. Management enabled it by caving to terrorists but the Teamsters take credit every time the economy is good and want to share in the company's success. When the economy has a downturn, they blame management and make no concessions.

 

[Occam's Banana]

$700 million ...

https://twitter.com/nytimes/status/1685324308904595456

 

[Occam's Banana]

The Teamsters killed the golden goose. Management enabled it by caving to terrorists but the Teamsters take credit every time the economy is good and want to share in the company's success. When the economy has a downturn, they blame management and make no concessions.

 

[GlennwaldSnowdenAssanged]

I was interested in bidding on a skid steer attachment for auction in Denver about a month ago. I figured I could win the auction for around $2,000. Prior to doing any bidding I requested freight quotes to ship the item to a business location with a forklift in Farmington CT. Quotes were coming in at $2,000. Way too much money in my opinion. I didn't bid at the auction.
I think the issue is that freight has gotten too expensive. Can purchase an item with free shipping. Amazon.
Think of it this way. Amazon has taken away huge portion of business that once went to Brick and Mortar business's.

 

[A Son of Liberty]

Old Dominion Saia XPO Logistics Arc Best JB Hunt seem to be figuring it out.

My impression - and again, my experience is limited to booking shipping, not dispatching - is that those companies combine LTL and OTR, which makes a lot of good business sense. It just seems to me that hotshots have easily killed LTL trucking.

 

[A Son of Liberty]

I was interested in bidding on a skid steer attachment for auction in Denver about a month ago. I figured I could win the auction for around $2,000. Prior to doing any bidding I requested freight quotes to ship the item to a business location with a forklift in Farmington CT. Quotes were coming in at $2,000. Way too much money in my opinion. I didn't bid at the auction.
I think the issue is that freight has gotten too expensive. Can purchase an item with free shipping. Amazon.
Think of it this way. Amazon has taken away huge portion of business that once went to Brick and Mortar business's.

Depending on the weight of the attachment, Denver to Farmington CT (about 30 min east of Hartford, which is close to 2000 miles I'd estimate) at $2000 probably isn't terrible. It's not great, but it's not way out of line. I'd like to find something around $1500, but fuel costs being what they are, and going into CT, I wouldn't fuss if I couldn't find anything cheaper.

 

[oyarde]

Ive known about the yellow thing for a few weeks . What I found interesting at the time it was first mentioned to me was it was to go straight to chapter 7 with no chapter 11 attempt . I think it s fair to say they have known it is a total loss for a very long time , I'd say even when they were getting the 700 million bailout. I'd expect to see more problems arise with container ship companies in the next 11 months or so.

 

[nobody's_hero]

$700 million ...

https://twitter.com/nytimes/status/1685324308904595456

Saw that. Really one should never take a loan without some sort of plan to pay it back (even better, government should not be in the business of making loans period), though their problems go back farther than that.

 

[GlennwaldSnowdenAssanged]

Depending on the weight of the attachment, Denver to Farmington CT (about 30 min east of Hartford, which is close to 2000 miles I'd estimate) at $2000 probably isn't terrible. It's not great, but it's not way out of line. I'd like to find something around $1500, but fuel costs being what they are, and going into CT, I wouldn't fuss if I couldn't find anything cheaper.

I would imagine a crate less than 30"x30"x74" weighing less than 700lbs. The point us can purchase on Ebay with free delivery for almost cost of delivery. Big companies have to deliver product. Trucks don't go from Denver to Farmington with one item. Could probably ship a car for less.