They think a road driver working the dock was going to offset that amount of debt, ohhh with the workers comp claims bound to be filed.
Yellow | Bankruptcy Update From IBT
- Thread starter Kennesaw Kid
- Start date
They could have continued to carry debt a for a long time and continued operating. It was a cash flow problem that got them in the end.
PS - Why would a road driver driving a fork lift have a comp claim?
On the job of injury, the proposal I saw, didn’t have any paid forklift training in it for road drivers.
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They would have to have fork lift training before being allowed to use them. OSHA rules.
That could be true Tri, but, they would be a much smaller company with a lot of debt....who knows....when they took on all this debt they were what 70 or 80 thousand employees (probably more) and now they were 30 thousand... it is much harder to pay off that kind of debt with far less revenue.....
Stop beating a dead horse. They were going out regardless just how much less for the driver before that happens.
Come on Puffy let’s hear your spin on this….
He probably blame that on O’Brien too.
None of us know for sure if or for how long they would have continued to operate. In spite of everything, they still provioded decent jobs for those 30,000 employees and their families, many of which are having a hard time now. Who knows?
This and Tri’s statements are correct, but in the end the nail in the coffin and had been for a long time was there constant cash flow problems. For years they had such a low revenue per employee compared to their peers that they never could service the debt. They just kept trying to reinvent the wheel with more and more engineers and not placing enough emphasis on service and low claims. Yellow’s revenue per employee was almost 1/2 of what ABF’s was. Hence not enough cash flow to operate and service debt.
I would think if you can move an 80,000 truck down the road you can handle a forklift. Had they provided paid training people would say they are wasting money.