Freightmaster1
TB Legend
- Credits
- 615
Last-Minute Bid Would Seek to Revive Collapsed Trucker Yellow
Jack Cooper Transport, a specialized operator that hauls automobiles for carmakers, plans to submit a bid backed by $1 billion in financing and support from the Teamsters union and some U.S. lawmakers that would halt the liquidation of trucking giant Yellow and seek to resurrect the shuttered...
www.wsj.com
People familiar with the bid say Jack Cooper Transport’s executive chair, Sarah Riggs Amico—a Georgia political hopeful who ran unsuccessfully as a Democrat for lieutenant governor in 2018 and the U.S. Senate in 2020—has a deal with the Teamsters to jettison the labor agreement that had squeezed Yellow.
They said the parties can’t negotiate a collective bargaining agreement until the new company has been created. But they said the framework agreement increases wages and pension contributions for workers while removing some work-rule constraints on the company.
The Teamsters union said Wednesday that it will “negotiate a strong new collective bargaining agreement at the appropriate time,” adding, “We are committed to seeing a new operation get up and running.”