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Yellow | Auction News

But it is not clear whether there would be much room left for a resurrected Yellow. Trucking experts say the market is gradually coping with the loss of the company, which once accounted for roughly 12 percent of drivers in the less-than-truckload sector. Mr. Vise, the trucking analyst, said Yellow’s exit had pushed trucking rates higher as customers scrambled to find other carriers. But he expects the sector to heal soon.
“Yellow’s shutdown did not seriously disrupt the less-than-truckload market,” he said.
A correction was made on
Nov. 28, 2023
:
An earlier version of this article referred incorrectly to the initial step in a bid for Yellow led by Sarah Riggs Amico. The bid was submitted to the company, not to the bankruptcy court.
 

New Bidder Aims to Save Bankrupt Trucking Firm, if Creditors Go Along​

The plan would put Yellow back on the road with thousands of unionized drivers, but would force the government to wait longer for a loan repayment.



A row of four parked white trucks with the Yellow insignia.

The trucking company Yellow halted its operations and filed for bankruptcy protection over the summer, putting 30,000 drivers out of work.Credit...Mike Blake/Reuters
Peter Eavis
By Peter Eavis
Published Nov. 27, 2023Updated Nov. 28, 2023, 3:57 p.m. ET
 
Streaker69 said:
I was on 81 this morning and I saw a bunch of Estes tractors pulling yellow sets. It's a weird sight. Seeing the yellow trailers threw me off for a second.
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They are all over Estes yards. If yellow does survive they will have to rent some tractors and trailers. I guess they will need another loan for that as well.
 
Real Teamster said:
That's a fact!! I am absolutely flabbergasted at the "retention bonuses" paid not only to the executive suite in June and July, but to LOTS of other managers at all levels for a long time. Just how widespread is that? I don't know, and I think we all deserve to know.
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You had to hit certain metric goals at the lower to mid-level to see any bonus bucks. Rarely if ever did that happen. But I'm absolutely sure the upper levels rewarded themselves handsomely. And don't forget about the card/expense report! Conversely, the IBT at Yellow had it pretty good, if you can get past the givebacks & payscale. Some Teamsters can't or wouldn't. So here we are. In the end, who was forced into retirement and or out of work now, sometimes blacklisted and with no health care in the industry? There's plenty of suck to go around: Hawkins / SOB, the whole shell game still playing out https://www.marketwatch.com/investing/stock/yellq
 
roger23 said:
You had to hit certain metric goals at the lower to mid-level to see any bonus bucks. Rarely if ever did that happen. But I'm absolutely sure the upper levels rewarded themselves handsomely. And don't forget about the card/expense report! Conversely, the IBT at Yellow had it pretty good, if you can get past the givebacks & payscale. Some Teamsters can't or wouldn't. So here we are. In the end, who was forced into retirement and or out of work now, sometimes blacklisted and with no health care in the industry? There's plenty of suck to go around: Hawkins / SOB, the whole shell game still playing out https://www.marketwatch.com/investing/stock/yellq
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Roger, I'm not referring to performance bonuses. I'm talking about "retention" bonuses; money paid in addition to salary. The bankruptcy claim that I learned this from had a guy with a 25% "retention bonus" on top of his six-figure salary.
 
Real Teamster said:
Roger, I'm not referring to performance bonuses. I'm talking about "retention" bonuses; money paid in addition to salary. The bankruptcy claim that I learned this from had a guy with a 25% "retention bonus" on top of his six-figure salary.
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oh yeah, we got those monthly when i was in operations, so we wouldn't quit and go to where the grass was obviously greener. you had to be in a "war zone" tho.
 
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