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Yellow | Yellow Bankruptcy & The Devastation of Corporate Greed

crazysandy said:
Guess it never was the never was the meme lol peace out
teamster.org

Teamsters Win Against Yellow Corp. in Court, Judge Shoots Down Company’s Frivolous Lawsuit

(WASHINGTON) — The International Brotherhood of Teamsters won a major victory against Yellow Corporation yesterday with the dismissal of the company’s frivo
teamster.org teamster.org
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The meme contributed, just not illegally so. A difference.

That's a potential of more than $4500 per former employee that won't be in the pot. Celebrate if you wish.
 
EX396 said:
Their fair share is the correct answer. If they weren't contributing to the bottom line they wouldn't/shouldn't be there. Their contribution may not be as apparent, but it's there. How well all those cogs in the machine function together is reflected in the revenue per employee figure.

If we are both in the LTL industry and I generate $150,000 per employee, while you generate $200,000 per employee, you are clearly doing so more effectively than I. Maybe I have too many layers in management, maybe I have sales reps that aren't generating revenue commensurate with their earnings, maybe I have too many slugs on the dock or holding a steering wheel. In any case I need to look deeper into why it takes me 33% more employees to generate the same revenue you do.
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Their fair share. So the upper people aren’t held accountable to a company metric? Just their “ fair share.” Interesting concept from a consultant. You said a mouthful there.
“Their fair share”
 
ABF381 said:
What are you talking about with the $4500 per former employee comment?
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If YRC would have won $137M judgement, that money would have gone into the pot. If they are found liable for WARN Act violations there may not be enough in the pot to pay everybody.

The 137M may turn out to not matter, but it's in all creditors' interest for YRC to have as much money as possible when it comes time to satisfy claims.

137M / 30K = 4500ish
 
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seabreeze said:
I'll be damned, I know some soothsayers on here are heartbroken.
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I don't know if I'll be damned, but I certainly am surprised. This is not at all what I anticipated. I had forecast that this would go to trial, damages would be awarded but that a jury would find that Yellow was significantly responsible for their own damages (as in 70 to 80%). SO... this is quite a surprise. What we don't know: the lawsuit was dismissed without prejudice, so it could be re-filed. Will it be re-filed? I'm not going to venture a guess on that one.
 
EX396 said:
If YRC would have won $137M judgement, that money would have gone into the pot. If they are found liable for WARN Act violations there may not be enough in the pot to pay everybody.

The 137M may turn out to not matter, but it's in all creditors' interest for YRC to have as much money as possible when it comes time to satisfy claims.
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That is all true.
 
Real Teamster said:
Puff, when it comes to long linehaul by rail, the following axiom comes into play: You want it WHEN???? Here in the west, we had "shiny wheel" linehaul out of Chicago to Denver, Salt Lake and Bloomington CA. Also Bloomington to Denver, Bloomington to Salt Lake, also some Chicago to various Texas points. If it was an Exact Express in days of yore or TimeCritical in more recent days, putting it on the rail was very risky. Yes, they were less expensive but their time reliability sucked!
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No EXACT EXPRESS was allowed on the rail.
 
EX396 said:
If YRC would have won $137M judgement, that money would have gone into the pot. If they are found liable for WARN Act violations there may not be enough in the pot to pay everybody.

The 137M may turn out to not matter, but it's in all creditors' interest for YRC to have as much money as possible when it comes time to satisfy claims.

137M / 30K = 4500ish
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I wonder where WARN Act money ranks as far as the line goes...I mean I know that secured creditors are first....
 
EX396 said:
The meme contributed, just not illegally so. A difference.

That's a potential of more than $4500 per former employee that won't be in the pot. Celebrate if you wish.
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If you haven’t noticed, Yellow is not concerned with giving the workers any monies, what make you think they would give us anything, when he record shows they haven’t since 2003. After all their fighting, not to pay the WARN ACT violation, but as you put it, if they would have won, they will give us $4,500+. So now what, will the bonus takers give their bonuses back to pay out the WARN ACT violations, without directions from the courts, if you didn’t notice the bonus they took in the end is not in your $4,500 figure. How do you come up with this stuff?
 
ROLLBACK said:
If you haven’t noticed, Yellow is not concerned with giving the workers any monies, what make you think they would give us anything, when he record shows they haven’t since 2003. After all their fighting, not to pay the WARN ACT violation, but as you put it, if they would have won, they will give us $4,500+. So now what, will the bonus takers give their bonuses back to pay out the WARN ACT violations, without directions from the courts, if you didn’t notice the bonus they took in the end is not in your $4,500 figure. How do you come up with this stuff?
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You do realize that "Yellow" doesn't decide who gets what now, right? The bigger the pot is after all the assets have been sold, the more likely all creditors will be paid in full.

The court could rule that there was a WARN Act violation which only translates to money in employees' pockets if there is money to do so. Cheering this IBT victory is like cheering them only getting $1.79 for a terminal... who loses? (Hint: not YRC)
 
EX396 said:
You do realize that "Yellow" doesn't decide who gets what now, right? The bigger the pot is after all the assets have been sold, the more likely all creditors will be paid in full.

The court could rule that there was a WARN Act violation which only translates to money in employees' pockets if there is money to do so. Cheering this IBT victory is like cheering them only getting $1.79 for a terminal... who loses? (Hint: not YRC)
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I know a better way to put money in an employee pocket……..and I’m sure you and Yellow do as well, without having to sue the teamsters. So that’s what their were, to sue the teamster to for their warn act violation, or as you put it, to put more into the employee’s pocket.

For the past 15 years Yellow has failed at trying to put extra monies in their employees pocket, even during the pandemic, when they classified us as ESSENTIAL WORKERS, that was all we got, that name , no monies for being essential workers. Nice try.
 
ROLLBACK said:
I know a better way to put money in an employee pocket……..and I’m sure you and Yellow do as well, without having to sue the teamsters. So that’s what their were, to sue the teamster to for their warn act violation, or as you put it, to put more into the employee’s pocket.

For the past 15 years Yellow has failed at trying to put extra monies in their employees pocket, even during the pandemic, when they classified us as ESSENTIAL WORKERS, that was all we got, that name , no monies for being essential workers. Nice try.
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So was this expected extra money provided for in your contract?
 
ROLLBACK said:
So that’s what their were, to sue the teamster to for their warn act violation, or as you put it, to put more into the employee’s pocket.

For the past 15 years Yellow has failed at trying to put extra monies in their employees pocket, even during the pandemic, when they classified us as ESSENTIAL WORKERS, that was all we got, that name , no monies for being essential workers. Nice try.
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I'm not certain what you are attempting to say. Sounds a bit like you are ungrateful that you had a job to go to when others weren't even permitted such an opportunity. How do you reconcile wanting the employer to stick to the contract with expecting them to give more than what you agreed to?
 
Actually the employees do win, we get money by earning it, not some phony, made up lawsuit, people that think the Teamsters were the reason Yellow closed also want to ban guns,
 
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