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Yellow | Severe accident @ Yellow???

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I was just at Yellow web site to listen to the web cast of Zollars at Merril Lynch and there was mention of a severe accident that will reflect a 9 cents per share hit. Must be a bad accident to show up like that??? Zollars said on the web cast that it is the worst he has ever seen. Tried to do a search for it but found nothing. Anyone know the accident they are talking about???
 
Just a thought.............................................could it have been the one in philly when the driver had fatal heart attack while bobtailing to motel? I know 2 people were killed and Yellow was sued. The reason that we can no longer bobtail to most motels today.
 
stevieg151 said:
Just a thought.............................................could it have been the one in philly when the driver had fatal heart attack while bobtailing to motel? I know 2 people were killed and Yellow was sued. The reason that we can no longer bobtail to most motels today.
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Approximately 57 million shares outstanding times $.09 per share for the significant accident equals a little over $5 million for that accident.
 
I was thinking the Philly thing also. Though he was off duty when it happened. Sounds more like a Haz Mat thing happening somewhere else. That would get real expensive.
 
He was off duty but Yellow was still sued over it. I don't think it makes a difference since he was driving Yellow's truck. That happened about 3 or 4 yrs ago I think so the time for a lawsuit to be settled is about right.....
 
I found this:

This was awarded in June of 07, I don't know how long the company has to post it as a loss to earnings.

$3.25 million

Wrongful death/emotional distress

Doe, et al. v. Yellow Transportation, Inc., et al.

Jackson County Circuit Court

June 14, 2007

Plaintiffs' attorneys: Stanley J. Goodkin, St. Louis; Mark G. McMahon, St. Louis

Defense attorneys: Jack M. Strauch, Womble Carlyle Sandridge & Rice, Winston-Salem, N.C.; Hal D. Meltzer, Baker Sterchi Cowden & Rice, Kansas City

The family of a motorcyclist struck and killed by a Yellow Transportation semitrailer reached a $3.25 million settlement in their Jackson County wrongful death case against the trucking company and its driver. The motorcyclist's wife, who witnessed the collision, also sought emotional distress and punitive damage claims.

"Evidence developed throughout discovery made it relatively clear that all three claims would be submitted to the jury," said lead plaintiffs' attorney Stanley J. Goodkin of St. Louis.

At 5 a.m. on Aug. 16, 2005, John Doe, 57, was driving his motorcycle eastbound on I-70 in Cooper County near Boonville. It was raining lightly and dark. His wife, Jane Doe, was driving her car about 150 to 200 feet behind her husband's motorcycle, both traveling in the right lane. The posted speed limit was 70 mph, but Mr. and Mrs. Doe were driving 50 to 55 mph because of the wet road conditions.

Two semitrailers passed Jane Doe -- the second being a Yellow Transportation Inc. rig driven by James Tasoulas. According to Jane Doe, Tasoulas was tailgating the first rig by driving about 30 feet behind it.

When he was about 100 feet in front of Jane Doe, Tasoulas maneuvered the YTI rig into the driving lane and struck the rear of her husband's motorcycle.

Jane Doe and her adult daughter filed a wrongful death claim against YTI and Tasoulas. Jane Doe filed a separate claim of negligent infliction of emotional distress for having witnessed her husband being struck on his motorcycle and later dying on the highway.

After mediation failed in March 2007, the matter was set for trial on June 25. About 10 days before trial, while both motions for summary judgment were pending, the parties reached the settlement.
 
Not sure but...

Court cases take a long time to try. If an accident happened this year and it goes to trial, then the financial impact won't happen until there is a preliminary or final judgement. (all assuming that the settlement is way more than people expected)

When accidents occur, I believe money is set aside at that time based on past experience (severity, death, types of injuries, fault, etc.). If something goes to court and a preliminary or final judgement is made, then the difference has to be set aside. Companies do not set aside the amount of money they are being sued for because so many lawsuits are for much more than what the lawyers and accounts believe.

A judgement from June of 2007 would have to be accounted for in June 2007.

In press release, I don't think Zollars mentioned Yellow specifically. It could be anything in YRCW.

My guess is that we won't get any details out of respect (or legal privacy laws) for the injured or dead.

CorpOffice
 
It did say National, so it had to be Yellow or Roadway. Like many here, I can picture how horrible that whole thing was and can picture how it unfolded to such a horrific result. I only pray to never have something like that occur to me or someone else.
 
TeamCujo said:
I found this:

This was awarded in June of 07, I don't know how long the company has to post it as a loss to earnings.

$3.25 million

Wrongful death/emotional distress

Doe, et al. v. Yellow Transportation, Inc., et al.

Jackson County Circuit Court

June 14, 2007

Plaintiffs' attorneys: Stanley J. Goodkin, St. Louis; Mark G. McMahon, St. Louis

Defense attorneys: Jack M. Strauch, Womble Carlyle Sandridge & Rice, Winston-Salem, N.C.; Hal D. Meltzer, Baker Sterchi Cowden & Rice, Kansas City

The family of a motorcyclist struck and killed by a Yellow Transportation semitrailer reached a $3.25 million settlement in their Jackson County wrongful death case against the trucking company and its driver. The motorcyclist's wife, who witnessed the collision, also sought emotional distress and punitive damage claims.

"Evidence developed throughout discovery made it relatively clear that all three claims would be submitted to the jury," said lead plaintiffs' attorney Stanley J. Goodkin of St. Louis.

At 5 a.m. on Aug. 16, 2005, John Doe, 57, was driving his motorcycle eastbound on I-70 in Cooper County near Boonville. It was raining lightly and dark. His wife, Jane Doe, was driving her car about 150 to 200 feet behind her husband's motorcycle, both traveling in the right lane. The posted speed limit was 70 mph, but Mr. and Mrs. Doe were driving 50 to 55 mph because of the wet road conditions.

Two semitrailers passed Jane Doe -- the second being a Yellow Transportation Inc. rig driven by James Tasoulas. According to Jane Doe, Tasoulas was tailgating the first rig by driving about 30 feet behind it.

When he was about 100 feet in front of Jane Doe, Tasoulas maneuvered the YTI rig into the driving lane and struck the rear of her husband's motorcycle.

Jane Doe and her adult daughter filed a wrongful death claim against YTI and Tasoulas. Jane Doe filed a separate claim of negligent infliction of emotional distress for having witnessed her husband being struck on his motorcycle and later dying on the highway.

After mediation failed in March 2007, the matter was set for trial on June 25. About 10 days before trial, while both motions for summary judgment were pending, the parties reached the settlement.
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What a nightmare that had to be to witness for his family. At the same time, what a nightmare to find yourself in if your that driver. Overall, makes you wonder how many lives are left forever changed...
 
but for the grace of God

Stan Smith said:
What a nightmare that had to be to witness for his family. At the same time, what a nightmare to find yourself in if your that driver. Overall, makes you wonder how many lives are left forever changed...
Click to expand...
Many lives changed forever in the blink of an eye, Stan. That is why, when I pull in and set the brake I always thank God for a safe trip.
 
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