Yellow Corp. files for bankruptcy protection, blames Teamsters

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Yellow Corp. on Sunday filed its much anticipated petitions for relieve under Chapter 11 bankruptcy protection, blaming the Teamsters union for its demise. The company will wind down operations and […]

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[JACKBURTON]

I'm totally in support of well paid and protected workers but unfortunately you cannot pay employees way higher wages than the market will allow. There's always another trucking company around the corner willing to do it just a little cheaper, just like there's always another Mexico that will build Ford and GM products for cheaper. Can't expect the customer to be willing to pay extra so your employees feel nice.

 

[loaders]

The trouble that Yellow had negotiating with the Teamsters was only one of the many problems that brought about their demise. In addition to receiving 700+/- million in Federal Government grants during the Trump era, the Teamsters gave numerous wage and benefit concessions to the company. Still, that wasn’t enough to keep them afloat. The list is almost endless but non compensatory pricing, too many acquisitions and just generally poor management appear to be some of the major causes of their failure. As the saying goes, “no one is too big to fail”.

 

[Jim L]

I'm totally in support of well paid and protected workers but unfortunately you cannot pay employees way higher wages than the market will allow. There's always another trucking company around the corner willing to do it just a little cheaper, just like there's always another Mexico that will build Ford and GM products for cheaper. Can't expect the customer to be willing to pay extra so your employees feel nice.

A wise person said to me once:
'You cannot continue to buy all your stuff at WalMart where the prices are lower but then demand from your employers a wage increase. It just won't continue long term.'

Makes sense. WalMart started in Canada in 1994 with the purchase of Woolco. The squeeze is starting to show its teeth.

 

[AgentSmith]

Received the below this morning

[email protected]

Epiq Corporate Restructuring, LLC is the court-appointed claims and noticing agent in the Yellow Corporation bankruptcy proceedings filed in the United States Bankruptcy Court for the District of Delaware (Case No. 23-11069). In that capacity, we are providing you with the following linked documents in connection with a Notice of Deadlines for the Filing of Proofs of Claim, Including Requests for Payment Pursuant to Section 503(B)(9) of the Bankruptcy Code

NOTICE OF DEADLINES FOR THE FILING OF PROOFS OF CLAIM, INCLUDING REQUESTS FOR PAYMENT PURSUANT TO SECTION 503(B)(9) OF THE BANKRUPTCY CODE [Docket No. 566]

PROOF OF CLAIM FORM AND INSTRUCTIONS

For additional information on these chapter 11 cases, and to download all documents filed in these cases free of charge, please visit https://dm.epiq11.com/YellowCorporation.