What's new

Yellow | Former Yellow Corp. exec named CEO of Axis Global Logistics

Freightmaster1

Freightmaster1

TB Legend
Credits
607
www.supplychainquarterly.com

Former Yellow Corp. exec named CEO of Axis Global Logistics

Bergman had previously been CCO of Yellow Corp. and president of Yellow Logistics
www.supplychainquarterly.com www.supplychainquarterly.com

Bergman had most recently served as chief commercial officer (CCO) of Yellow Corp. and as president of Yellow Logistics.

Those businesses are now gone, having declared bankruptcy in August, 2023, after contentious contract negotiations with the Teamsters Union over truck drivers’ salaries. In that debate, Yellow accused the union of blocking its corporate realignment and modernization plan, while the drivers said that Yellow had accumulated too much debt as it acquired smaller fleets and grew into the country’s third-largest less than truckload (LTL) freight company. Since then, Yellow’s creditors have been fighting in court to claim the proceeds as the company has liquidated its holdings and sold off its assets.

As that colorful chapter winds to a close, Axis’ leaders welcomed Bergman to the company, hailing his experience.

YEAH IT WAS "COLORFUL" ALRIGHT!

:chairshot:
 
Let me guess, these companies that are now run by former Yellow C Level types will do very well.
If that does happen, it may be proof that the teamsters union was the killer of good jobs at Yellow??
Everyone was quick to lay blame at these folks who ran Yellow, now we will see how they really manage a business...
If they fail it proves the union to be correct..
Keep an eye on this...
 
Puff Driver said:
Let me guess, these companies that are now run by former Yellow C Level types will do very well.
If that does happen, it may be proof that the teamsters union was the killer of good jobs at Yellow??
Everyone was quick to lay blame at these folks who ran Yellow, now we will see how they really manage a business...
If they fail it proves the union to be correct..
Keep an eye on this...
Click to expand...
Sorry Puffy, but your dots don't connect. While your hypotheses might seem to make sense, there is much more at play than that. Agreed though; stay tuned.
 
The successes, or lack thereof, of their employers neither proves or disproves either theory. They are just one cog in the machine.

Two of the hardest working, most competent drivers/supervisors I ever worked with were both at Systems 99 back in the day. Systems 99 went BK.
They both came to Industrial Freight Systems. One was our Shop Steward, the other my I/B supervisor when I was a casual dock worker. Industrial Freight went BK.
They both moved on to work for CF. One as a P&D driver the other as a TM. CF files BK.
They both end up at Yellow.

Were they cursed, incompetent or just the nature of an industry that operates on such thin margins?
 
EX396 said:
The successes, or lack thereof, of their employers neither proves or disproves either theory. They are just one cog in the machine.

Two of the hardest working, most competent drivers/supervisors I ever worked with were both at Systems 99 back in the day. Systems 99 went BK.
They both came to Industrial Freight Systems. One was our Shop Steward, the other my I/B supervisor when I was a casual dock worker. Industrial Freight went BK.
They both moved on to work for CF. One as a P&D driver the other as a TM. CF files BK.
They both end up at Yellow.

Were they cursed, incompetent or just the nature of an industry that operates on such thin margins?
Click to expand...
Ex, your Western roots are evident. Most of these guys have never heard of System 99 (and for you guys, System 99 I believe got its name from California Highway 99 that prior to Interstate 5 was the main throughway of the San Joaquin valley). I too remember System 99 in central and southern California back in the 1960s and 1970s.
This strikes a chord with me. In my nearly 50 years as a Teamster, this is the first company I have ever been there for the closing day. Most of my primary (non-casual) employers went "bust", in fact all but one, but long after my tenure there. I worked with a guy at YRC who was there for his fourth company closure. That's a brutal record!
 
Real Teamster said:
Ex, your Western roots are evident. Most of these guys have never heard of System 99 (and for you guys, System 99 I believe got its name from California Highway 99 that prior to Interstate 5 was the main throughway of the San Joaquin valley). I too remember System 99 in central and southern California back in the 1960s and 1970s.
This strikes a chord with me. In my nearly 50 years as a Teamster, this is the first company I have ever been there for the closing day. Most of my primary (non-casual) employers went "bust", in fact all but one, but long after my tenure there. I worked with a guy at YRC who was there for his fourth company closure. That's a brutal record!
Click to expand...

It's a tough row to hoe they say. Hope the guy on #4 pulls through just fine. Yes, you are correct about the origins of System 99's naming. At least that how I understand it as well.
 
Real Teamster said:
Ex, your Western roots are evident. Most of these guys have never heard of System 99 (and for you guys, System 99 I believe got its name from California Highway 99 that prior to Interstate 5 was the main throughway of the San Joaquin valley). I too remember System 99 in central and southern California back in the 1960s and 1970s.
This strikes a chord with me. In my nearly 50 years as a Teamster, this is the first company I have ever been there for the closing day. Most of my primary (non-casual) employers went "bust", in fact all but one, but long after my tenure there. I worked with a guy at YRC who was there for his fourth company closure. That's a brutal record!
Click to expand...
Kevin mccaffrey talking yrc et al
 
EX396 said:
The successes, or lack thereof, of their employers neither proves or disproves either theory. They are just one cog in the machine.

Two of the hardest working, most competent drivers/supervisors I ever worked with were both at Systems 99 back in the day. Systems 99 went BK.
They both came to Industrial Freight Systems. One was our Shop Steward, the other my I/B supervisor when I was a casual dock worker. Industrial Freight went BK.
They both moved on to work for CF. One as a P&D driver the other as a TM. CF files BK.
They both end up at Yellow.

Were they cursed, incompetent or just the nature of an industry that operates on such thin margins?
Click to expand...
Or a bad business model that continuously fails despite different managers and/or owners????
 
Real Teamster said:
Sorry Puffy, but your dots don't connect. While your hypotheses might seem to make sense, there is much more at play than that. Agreed though; stay tuned.
Click to expand...
Maybe, however there are a decent number of former Yellow Managers working at ODFL
The 71 OR for the past quarter tells me those manager may not have been the problem.
What is the variable???
 
Puff Driver said:
Or is it that Yellow was a teamster carrier and ODFL is not????
Click to expand...
There is probably some merit to both of those statements. But most of all, OD has had for many years an operating strata that has been mostly successful. They have "stayed the course" on that strata through good years and not so good years. Yellow on the other hand seems to have changed course numerous times and has been referred to as a "rudder-less ship" by many.
The "glass house" has made many critical errors over the past twenty years that finally came home to roost. In my opinion one of the biggest errors was in 2009 when the creditors ordered that Yellow and Roadway be merged. Mind you, this should have been done years earlier and on the company's schedule. Didn't happen. The operations got thrown together in 90 days with two time-honored brands disappearing to be replaced by "YRC". Trouble is, there was absolutely no marketing support behind that, and the merger itself was one of the biggest cluster-f^%ks in the history of business. They likely would have been far better off calling it "Yellow Roadway" We lost a huge portion of our business in the winter and spring of 2009 that we never got back, then it just slowly disintegrated from there.
 
ABF381 said:
I don't believe the Teamsters had anything to do with them going so deeply in debt....that was a big hole to dig out of....
Click to expand...
The debt was a byproduct of not being able to generate any EBITDA profits. Has YRC been profitable they would have had no need to borrow.
Historically teamster LTL carriers do not generate profits for very long. Some go through good periods but they don't seem to last.
Something always happens....
 
Puff Driver said:
The debt was a byproduct of not being able to generate any EBITDA profits. Has YRC been profitable they would have had no need to borrow.
Click to expand...

The debt was a direct result of buying things you couldn't afford with money you didn't have. Whether or not they were profitable was irrelevant. Some companies are not profitable but have lots of capital. Sometimes buying other companies that are profitable can make them so.

Historically teamster LTL carriers do not generate profits for very long. Some go through good periods but they don't seem to last.
Something always happens....
Click to expand...

Separate issue, but hit the nail on the head.
 
Puff Driver said:
The debt was a byproduct of not being able to generate any EBITDA profits. Has YRC been profitable they would have had no need to borrow.
Historically teamster LTL carriers do not generate profits for very long. Some go through good periods but they don't seem to last.
Something always happens....
Click to expand...
Whatever you say Puffy...you like to rewrite history...the debt had nothing to do with what you said and everything to do with buying Roadway and Holland....Yeah they don't seem to last, Yellow made 99 years and ABF just celebrated 100....
 
Freightmaster1 said:
www.supplychainquarterly.com

Former Yellow Corp. exec named CEO of Axis Global Logistics

Bergman had previously been CCO of Yellow Corp. and president of Yellow Logistics
www.supplychainquarterly.com www.supplychainquarterly.com

Bergman had most recently served as chief commercial officer (CCO) of Yellow Corp. and as president of Yellow Logistics.

Those businesses are now gone, having declared bankruptcy in August, 2023, after contentious contract negotiations with the Teamsters Union over truck drivers’ salaries. In that debate, Yellow accused the union of blocking its corporate realignment and modernization plan, while the drivers said that Yellow had accumulated too much debt as it acquired smaller fleets and grew into the country’s third-largest less than truckload (LTL) freight company. Since then, Yellow’s creditors have been fighting in court to claim the proceeds as the company has liquidated its holdings and sold off its assets.

As that colorful chapter winds to a close, Axis’ leaders welcomed Bergman to the company, hailing his experience.

YEAH IT WAS "COLORFUL" ALRIGHT!

:chairshot:
Click to expand...
Grew into the third largest!!!, didn't he mean shrink into the third largest???
 
You must log in or register to reply here.
Top