Now you've done it. Do you realize how many on here will be lying awake tonight trying to figure out who you're referring to?
Yellow | Very Interessting !
- Thread starter tomas tank
- Start date
Now you've done it. Do you realize how many on here will be lying awake tonight trying to figure out who you're referring to?
Well I'm on the Board too !!! That's the Boardwalk , till it broke & got my semi stuck , Bummer day !!!
Local_Driver
Pyle People deliver
- Credits
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Jevic has been gone since 08' saia and jevic were sistered up as STS solutions
Saia tried to close down jevic after two years, jevic was bought by sun capital partners which ended up being liquidated. 11 yrs later were still waiting for our money.
tomas tank
TB Lurker
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- 0
You must be part of the conspiracy!!
[/QUOTE it would be
Makes you stop and think all the money's Saia has received for the backing and from were did they get it from .
tomas tank
TB Lurker
- Credits
- 0
Did anyone ever go to JAIL ? Because someone should !
Your money was donated to Coop Dispatch's (old age retirement fund, years ago.
What backing? Saia has been making a profit, quarter after quarter, for years. That's why their stock is north of $80. No conspiracy to be seen , move along, please.Makes you stop and think all the money's Saia has received for the backing and from were did they get it from .
Everything is a conspiracy!
Essentially: YRC owned Saia, Zollars’s son in law runs Saia, Saia far & away outperforms YRC. One could infer an end-around busting that, may be, difficult to spot over the course of twenty years. We’re like the LTL on the knob lol
Yrc never owned Saia. Yellow by themselves did, before the disaster buyout of Roadway in 2003.
Not now, but I put it on my list.....
Freightmaster1
TB Legend
- Credits
- 600
1980s-90s: A More Competitive Market
The 1980 deregulation of the trucking industry, amid a wave of deregulation that occurred during the Reagan administration, caught Yellow by surprise. Gone were the restrictions on truck routes, and with it the $34 million per year Yellow earned through licensing fees charged to other companies to use its routes. When deregulation came, Yellow discovered that its terminals, depots, and break-bulk centers had fallen behind advances in the industry, at a time when these facilities had become more crucial to the LTL market than ever before. Yellow's main competitors, Consolidated Freightways and Roadway Express, had gained the edge on both break-bulk handling and broader route systems, each with a wider, larger array of state-of-the-art terminals and depots. By the end of 1981, Yellow had laid off 20 percent of its workers.
Yellow's profits continued to fall through 1983. However, Powell, Jr., and his son, George Powell III, who had entered the family's business some years earlier, began a crash program to upgrade its facilities, converting 17 terminals into additional break-bulk centers in two years. Yellow also increased its LTL freight contracts to encompass nearly two-thirds of its business, and by 1985, Yellow had expanded its number of terminals to 600. The intense competition that followed deregulation closed many trucking companies, and by 1986, Yellow was once again assured of its number three position in the industry. With only Alaska left unrepresented in the United States, Yellow created a terminal there in 1987. As it entered the 1990s, Yellow, now led by George Powell III, turned to international expansion into Mexico, Puerto Rico, and Canada.
Yellow's revenues had passed $2 billion. Yet discounting across the industry, a series of Teamster strikes, higher fuel and labor costs, and a slow softening of the LTL market began to cut into Yellow's profits. Yellow boosted its competitive edge with a series of innovations, including computer software to enable its customers to track their shipments, as well as the introduction of its Metroliner two-day service and its guaranteed Express Lane service, which offered expedited shipments. Yellow entered Mexico in 1991, forming Yellow Freight Mexicana, and further increased its Canadian presence.
Yellow also began to eye entry into the growing regional LTL market, reasoning that its customers wanted a company that could handle both their regional and national needs. In 1992, Yellow bought the ailing Preston Trucking Company, a regional and interregional LTL carrier, 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. The purchase of Preston brought Yellow into the important regional markets of the Northeast and South. However, drivers at both Yellow Freight and Preston were represented by the Teamsters union, leaving Yellow increasingly vulnerable to the threat of strikes. In 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, Yellow Freight restructured as a holding company for its subsidiaries, changing its name to Yellow Corporation. Also in 1993, the company acquired Saia Motor Freight Line, a southern LTL carrier.
Yellow's steady growth had slowed, however, as it entered the mid-1990s. A 24-day Teamster strike in 1994 resulted in more than $25 million in losses for Yellow, while the rough winter of that year further slowed the trucking industry and depressed profits. LTL demand continued to slow, and discounting among truckers became more and more competitive. A 5 percent wage increase instituted in April 1995--a result of 1994's Teamsters strike--further ate into Yellow's earnings, and the company posted a $30 million loss for the year.
In early 1996, with the company floundering, George Powell III resigned from his post as president and CEO. He was replaced by A. Maurice Myers. Myers, previously the president and COO of America West Airlines, had gained a reputation as a "turnaround leader." With Myers at the helm, Yellow wasted little time making changes. Yellow Freight, the company's main subsidiary, was reorganized into five business units, decentralizing decision making and placing a greater emphasis on responding to customers' needs. Almost 250 jobs were eliminated in the restructuring. Even so, 1996's numbers were far from encouraging. With revenues remaining flat, Yellow ended the year with a $27.12 million loss.
But in 1997, the company began to reap the rewards of its cost-reduction efforts; it moved back into the black with year-end income of $52.4 million. In a January 28, 1998 press release, Myers attributed the improvement largely to $145 million in savings at Yellow Freight, and indicated that in the coming year, Yellow Corp. would focus on reducing expenses at its other subsidiaries as well.
Myers's turnaround plan did not consist solely of cost-cutting. He believed that for Yellow to be successful it had to become more flexible and diverse, offering a portfolio of services rather than strictly less-than-truckload shipping. Toward that end, the company spent 1998 and 1999 pursuing expansion both at home and overseas. In June 1998, Yellow formed a new subsidiary--YCS International--to serve as Yellow's international carrier. Through alliances with various international partners, YCS (which was renamed Yellow Global in 2000) allowed the company to offer shippers greater geographic coverage.
Yellow also made two key acquisitions. In 1998, it acquired Action Express, a regional carrier that expanded the company's inter-regional coverage to the Pacific Northwest. A year later, Yellow acquired Jevic Transportation, a regional carrier covering the eastern and midwestern parts of the country. Meanwhile, Yellow rid itself of its struggling subsidiary Preston Trucking. In November 1999, having restored Yellow to profitability, the company's "turnaround CEO," Maurice Myers, resigned. He was replaced by William Zollars, who had served as the president of Yellow Freight since 1996 and had been instrumental in the restructuring at that subsidiary.
http://www.fundinguniverse.com/company-histories/yellow-corporation-history/
The 1980 deregulation of the trucking industry, amid a wave of deregulation that occurred during the Reagan administration, caught Yellow by surprise. Gone were the restrictions on truck routes, and with it the $34 million per year Yellow earned through licensing fees charged to other companies to use its routes. When deregulation came, Yellow discovered that its terminals, depots, and break-bulk centers had fallen behind advances in the industry, at a time when these facilities had become more crucial to the LTL market than ever before. Yellow's main competitors, Consolidated Freightways and Roadway Express, had gained the edge on both break-bulk handling and broader route systems, each with a wider, larger array of state-of-the-art terminals and depots. By the end of 1981, Yellow had laid off 20 percent of its workers.
Yellow's profits continued to fall through 1983. However, Powell, Jr., and his son, George Powell III, who had entered the family's business some years earlier, began a crash program to upgrade its facilities, converting 17 terminals into additional break-bulk centers in two years. Yellow also increased its LTL freight contracts to encompass nearly two-thirds of its business, and by 1985, Yellow had expanded its number of terminals to 600. The intense competition that followed deregulation closed many trucking companies, and by 1986, Yellow was once again assured of its number three position in the industry. With only Alaska left unrepresented in the United States, Yellow created a terminal there in 1987. As it entered the 1990s, Yellow, now led by George Powell III, turned to international expansion into Mexico, Puerto Rico, and Canada.
Yellow's revenues had passed $2 billion. Yet discounting across the industry, a series of Teamster strikes, higher fuel and labor costs, and a slow softening of the LTL market began to cut into Yellow's profits. Yellow boosted its competitive edge with a series of innovations, including computer software to enable its customers to track their shipments, as well as the introduction of its Metroliner two-day service and its guaranteed Express Lane service, which offered expedited shipments. Yellow entered Mexico in 1991, forming Yellow Freight Mexicana, and further increased its Canadian presence.
Yellow also began to eye entry into the growing regional LTL market, reasoning that its customers wanted a company that could handle both their regional and national needs. In 1992, Yellow bought the ailing Preston Trucking Company, a regional and interregional LTL carrier, 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. The purchase of Preston brought Yellow into the important regional markets of the Northeast and South. However, drivers at both Yellow Freight and Preston were represented by the Teamsters union, leaving Yellow increasingly vulnerable to the threat of strikes. In 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, Yellow Freight restructured as a holding company for its subsidiaries, changing its name to Yellow Corporation. Also in 1993, the company acquired Saia Motor Freight Line, a southern LTL carrier.
Yellow's steady growth had slowed, however, as it entered the mid-1990s. A 24-day Teamster strike in 1994 resulted in more than $25 million in losses for Yellow, while the rough winter of that year further slowed the trucking industry and depressed profits. LTL demand continued to slow, and discounting among truckers became more and more competitive. A 5 percent wage increase instituted in April 1995--a result of 1994's Teamsters strike--further ate into Yellow's earnings, and the company posted a $30 million loss for the year.
In early 1996, with the company floundering, George Powell III resigned from his post as president and CEO. He was replaced by A. Maurice Myers. Myers, previously the president and COO of America West Airlines, had gained a reputation as a "turnaround leader." With Myers at the helm, Yellow wasted little time making changes. Yellow Freight, the company's main subsidiary, was reorganized into five business units, decentralizing decision making and placing a greater emphasis on responding to customers' needs. Almost 250 jobs were eliminated in the restructuring. Even so, 1996's numbers were far from encouraging. With revenues remaining flat, Yellow ended the year with a $27.12 million loss.
But in 1997, the company began to reap the rewards of its cost-reduction efforts; it moved back into the black with year-end income of $52.4 million. In a January 28, 1998 press release, Myers attributed the improvement largely to $145 million in savings at Yellow Freight, and indicated that in the coming year, Yellow Corp. would focus on reducing expenses at its other subsidiaries as well.
Myers's turnaround plan did not consist solely of cost-cutting. He believed that for Yellow to be successful it had to become more flexible and diverse, offering a portfolio of services rather than strictly less-than-truckload shipping. Toward that end, the company spent 1998 and 1999 pursuing expansion both at home and overseas. In June 1998, Yellow formed a new subsidiary--YCS International--to serve as Yellow's international carrier. Through alliances with various international partners, YCS (which was renamed Yellow Global in 2000) allowed the company to offer shippers greater geographic coverage.
Yellow also made two key acquisitions. In 1998, it acquired Action Express, a regional carrier that expanded the company's inter-regional coverage to the Pacific Northwest. A year later, Yellow acquired Jevic Transportation, a regional carrier covering the eastern and midwestern parts of the country. Meanwhile, Yellow rid itself of its struggling subsidiary Preston Trucking. In November 1999, having restored Yellow to profitability, the company's "turnaround CEO," Maurice Myers, resigned. He was replaced by William Zollars, who had served as the president of Yellow Freight since 1996 and had been instrumental in the restructuring at that subsidiary.
http://www.fundinguniverse.com/company-histories/yellow-corporation-history/
Local_Driver
Pyle People deliver
- Credits
- 13
Well the thing that sucks about it is the people who are now gone and their families that have suffered with out them probably could have used that money in a big way. Meanwhile the owners of Sun Capital partners buy up companies and liquidate as if just another day and another dollar!
Just another holding company.
clydesdale
TB Veteran
- Credits
- 285
does zollars son in law still run Saia?"
“No”. Was the CEO, now Chairman.
Yellow got the lease on the Richfield Preston terminal. Neither Yellow nor Preston have ever owned it. It was built for Preston though. Yellow used it after the Preston demise but I see OD is in there now.