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Yellow | Last-Minute Bid Would Seek to Revive Collapsed Trucker Yellow

Freightmaster1

Freightmaster1

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www.wsj.com

Last-Minute Bid Would Seek to Revive Collapsed Trucker Yellow

Jack Cooper Transport, a specialized operator that hauls automobiles for carmakers, plans to submit a bid backed by $1 billion in financing and support from the Teamsters union and some U.S. lawmakers that would halt the liquidation of trucking giant Yellow and seek to resurrect the shuttered...
www.wsj.com www.wsj.com

People familiar with the bid say Jack Cooper Transport’s executive chair, Sarah Riggs Amico—a Georgia political hopeful who ran unsuccessfully as a Democrat for lieutenant governor in 2018 and the U.S. Senate in 2020—has a deal with the Teamsters to jettison the labor agreement that had squeezed Yellow.

They said the parties can’t negotiate a collective bargaining agreement until the new company has been created. But they said the framework agreement increases wages and pension contributions for workers while removing some work-rule constraints on the company.

The Teamsters union said Wednesday that it will “negotiate a strong new collective bargaining agreement at the appropriate time,” adding, “We are committed to seeing a new operation get up and running.”

:bananapartyhat:
 
Get it done here I am a 56yr old dock worker with 34yrs at Yellow with only 3 call backs from over 35 applications in 4 months. Best offer $16.85 an hour then pay 90 a week for insurance and have a 7500 deductible.
 
Skidmark said:
Get it done here I am a 56yr old dock worker with 34yrs at Yellow with only 3 call backs from over 35 applications in 4 months. Best offer $16.85 an hour then pay 90 a week for insurance and have a 7500 deductible.
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Just remember a new agreement may have a lot more stuff in that the drivers will have to do and not need as many dock workers not mention some will not be called back. The old saying comes to mind screw me once shame on you screw me twice shame on me. Just be careful and read the contract good and pay attention to whats being said. Somebody is getting money out of this deal because the senators dont work for free. Most on both sides gets payouts from lobbyists to influence decisions which in my opinion should be illegal. My point is somebody behind the scenes gets money and the welfare of the regular workers is the least thing on their mind.
 
Patel was consoling me and said Don't Worry Be Happy , Y.L.M. , Yellow Lives Matter !! They will pull another Rabbit out of the hat trick again !
eae16cf30643f84c9fd9b5f18607d92d.jpg
 
Freightmaster1 said:
www.wsj.com

Last-Minute Bid Would Seek to Revive Collapsed Trucker Yellow

Jack Cooper Transport, a specialized operator that hauls automobiles for carmakers, plans to submit a bid backed by $1 billion in financing and support from the Teamsters union and some U.S. lawmakers that would halt the liquidation of trucking giant Yellow and seek to resurrect the shuttered...
www.wsj.com www.wsj.com

People familiar with the bid say Jack Cooper Transport’s executive chair, Sarah Riggs Amico—a Georgia political hopeful who ran unsuccessfully as a Democrat for lieutenant governor in 2018 and the U.S. Senate in 2020—has a deal with the Teamsters to jettison the labor agreement that had squeezed Yellow.

They said the parties can’t negotiate a collective bargaining agreement until the new company has been created. But they said the framework agreement increases wages and pension contributions for workers while removing some work-rule constraints on the company.

The Teamsters union said Wednesday that it will “negotiate a strong new collective bargaining agreement at the appropriate time,” adding, “We are committed to seeing a new operation get up and running.”

:bananapartyhat:
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They could have done this months ago. Knuckleheads.
 
Freightmaster1 said:
www.wsj.com

Last-Minute Bid Would Seek to Revive Collapsed Trucker Yellow

Jack Cooper Transport, a specialized operator that hauls automobiles for carmakers, plans to submit a bid backed by $1 billion in financing and support from the Teamsters union and some U.S. lawmakers that would halt the liquidation of trucking giant Yellow and seek to resurrect the shuttered...
www.wsj.com www.wsj.com

People familiar with the bid say Jack Cooper Transport’s executive chair, Sarah Riggs Amico—a Georgia political hopeful who ran unsuccessfully as a Democrat for lieutenant governor in 2018 and the U.S. Senate in 2020—has a deal with the Teamsters to jettison the labor agreement that had squeezed Yellow.

They said the parties can’t negotiate a collective bargaining agreement until the new company has been created. But they said the framework agreement increases wages and pension contributions for workers while removing some work-rule constraints on the company.

The Teamsters union said Wednesday that it will “negotiate a strong new collective bargaining agreement at the appropriate time,” adding, “We are committed to seeing a new operation get up and running.”

:bananapartyhat:
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Most the nice equipment is already gone, and the bottom feeding and groveling that would be required to get that freight back onto that junk equipment, would make companies like central transport look like a top tier LTL. Wtf.
 
Blah Blah Blah .... all this negative talk now that the reality of a Yellow comeback has finally sunk in reminds me of the transition from the early to late stages of the Trump election victory:

Yellow is coming back (early statements):



Yellow is coming back (current statements):

 
dokman said:
I would not be surprised if the delay was to wait and see all the other players cards. Early talks might have raised the price from the other LTL carriers to ward off any potential competition from a startup/new/resurrected carrier. Maybe name will be YRC
Your Resurrected Carrier.
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I was talking about doing this before the company shut down.

They said the parties can’t negotiate a collective bargaining agreement until the new company has been created. But they said the framework agreement increases wages and pension contributions for workers while removing some work-rule constraints on the company.

Isn't that pretty much what the company was asking for that was blown off by O'Brien?
 
SuperCourse said:
I was talking about doing this before the company shut down.

They said the parties can’t negotiate a collective bargaining agreement until the new company has been created. But they said the framework agreement increases wages and pension contributions for workers while removing some work-rule constraints on the company.

Isn't that pretty much what the company was asking for that was blown off by O'Brien?
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Bankruptcy == clean slate.
 
There is no more yellow freight, and there never will be again.
"If" jack cooper buys the assets, they will sell off everything they don't need. Open a company that starts off very small compared to the former bankrupt company. A new white paper contract (Nmfa is dead and buried).
 
No port said:
There is no more yellow freight, and there never will be again.
"If" jack cooper buys the assets, they will sell off everything they don't need. Open a company that starts off very small compared to the former bankrupt company. A new white paper contract (Nmfa is dead and buried).
Click to expand...

Nope NMFA is in effect until March and a new contract will need to be negotiated and ratified by union membership or a strike vote can be issued. This is no different than business as usual unless it is liquidated but that will not be the result of winning a going concern bid.
 
truckinforcash said:
Most the nice equipment is already gone, and the bottom feeding and groveling that would be required to get that freight back onto that junk equipment, would make companies like central transport look like a top tier LTL. Wtf.
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They are getting New leased Equipment & faster than 62 mph too !
399239416_353106617280401_1660964081274528179_n.jpg
 
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