Yellow | Report Questions Yellow CARES Act Loan

[Freightmaster1]

Report Questions Yellow CARES Act Loan

The Congressional Oversight Commission is questioning a $700 million loan that Yellow Corp. (then-YRC Worldwide) received last year under the CARES Act.

www.truckinginfo.com

U.S. Rep. French Hill, R-Ark., who is on the three-person commission, told the Democrat-Gazette that the company didn't appear to qualify for the narrowly tailored program.

"The $700 million taxpayer backed loan Treasury made to Yellow, formerly YRC, was a mistake," Hill said in a written statement, according to the paper. "Based on the oversight work conducted by the commission, there is no evidence to support Yellow being critical to national security which means these loans should never have been executed."

 

[Freightmaster1]

Oversight panel says Yellow increased lobbying efforts ahead of $700M loan​

Oversight panel says Yellow increased lobbying efforts ahead of $700M loan

The latest report from the congressional oversight commission monitoring COVID relief loans shows Yellow Corp. may not have been as “critical to maintaining national security” as once thought. The report also calls into question the company’s increased spend on lobbying efforts ahead of the loan.

www.freightwaves.com

 

[Freightmaster1]

So what does Rep. French Hill want Yellow to do? Give the money back?

 

[clydesdale]

the democrats just spent 6 trillion dollars in a100 days and you want to make a big deal about a little 700 million dollar LOAN.....LOAN /come on man...you don't know the secrets Yellow and the US government have been keeping over the last 100 years!

 

[wongway]

Taxpayers got lots of money & we think we all know who helped get loan done ???? Ok give you just one clue : hair gel ........................................

 

[BIG R GUY]

Taxpayers got lots of money & we think we all know who helped get loan done ???? Ok give you just one clue : hair gel ........................................

That greasy bastard.

 

[clydesdale]

So what does Rep. French Hill want Yellow to do? Give the money back?

I like watching this over and over again

 

[Puff Driver]

So what does Rep. French Hill want Yellow to do? Give the money back?

Yes, no other LTL carrier needed corporate welfare...