well looking at the hystory of our used to be company, i see we have been in this spot many times before.buying failing companies and preying for profit.
yellow is known every since it was a cab company to make bad buisness choices. we have come full circle.
1951: Yellow declares bankruptcy.
1965: Yellow acquires Watson-Wilson doubling its size. Watson-Wilson had not kept up with technology advances and changes in the industry, and by the early 1960s was failing Transportation System.
Adley Express in 1973, Republic Freight Systems in 1975, and Braswell Motor Freight in 1977.
Yellow started Overland Energy Company in 1976, which lost some $60 million
By the end of 1981, Yellow had laid off 20 percent of its workers. Yellow's profits continued to fall through 1983.
Yellow entered Mexico in 1991, forming Yellow Freight Mexicana, and further increased its Canadian presence.
In 1992, Yellow bought the ailing Preston Trucking Company for $24 million and the assumption of that company's $116 million in debts and loans. After restructuring, including a temporary 9 percent pay cut to its workers, Preston was profitable again by 1993.
1992, Yellow formed a Texas subsidiary, Yellow Transportation, extending its regional business in that important state. Significantly, Yellow Transportation leased its trucks and hired only non-union drivers. In 1993, the company acquired Saia Motor Freight Line, .
1998: Yellow acquires Action Express and and Jevic Transportation and sells Preston Trucking.
2002
Yellow Corporation created a regional holding company, SCS Transportation, based in Kansas City, Mo. SCS Transportation, Inc. (SCST) had two operating subsidiaries - Saia and Jevic Transportation. SCST was spun off and on October 1, 2002 became an independent, publicly traded company on the NASDAQ. In 2006 SCST announced the successful sale of Jevic Transportation to a private investment group.
2003 Yellow Corp buys Roadway for $1.1 billion
2005 YRC purchased USF Corp. for $1.2 billion
we are now broke! again
yellow is known every since it was a cab company to make bad buisness choices. we have come full circle.
1951: Yellow declares bankruptcy.
1965: Yellow acquires Watson-Wilson doubling its size. Watson-Wilson had not kept up with technology advances and changes in the industry, and by the early 1960s was failing Transportation System.
Adley Express in 1973, Republic Freight Systems in 1975, and Braswell Motor Freight in 1977.
Yellow started Overland Energy Company in 1976, which lost some $60 million
By the end of 1981, Yellow had laid off 20 percent of its workers. Yellow's profits continued to fall through 1983.
Yellow entered Mexico in 1991, forming Yellow Freight Mexicana, and further increased its Canadian presence.
In 1992, Yellow bought the ailing Preston Trucking Company for $24 million and the assumption of that company's $116 million in debts and loans. After restructuring, including a temporary 9 percent pay cut to its workers, Preston was profitable again by 1993.
1992, Yellow formed a Texas subsidiary, Yellow Transportation, extending its regional business in that important state. Significantly, Yellow Transportation leased its trucks and hired only non-union drivers. In 1993, the company acquired Saia Motor Freight Line, .
1998: Yellow acquires Action Express and and Jevic Transportation and sells Preston Trucking.
2002
Yellow Corporation created a regional holding company, SCS Transportation, based in Kansas City, Mo. SCS Transportation, Inc. (SCST) had two operating subsidiaries - Saia and Jevic Transportation. SCST was spun off and on October 1, 2002 became an independent, publicly traded company on the NASDAQ. In 2006 SCST announced the successful sale of Jevic Transportation to a private investment group.
2003 Yellow Corp buys Roadway for $1.1 billion
2005 YRC purchased USF Corp. for $1.2 billion
we are now broke! again
