Trucking Firm Yellow’s Collapse Leaves Freight Business Up for Grabs

One of the most prominent names in US short-haul trucking is poised to fade away, leaving billions of dollars in business up for grabs in a weakened freight market. Yellow Corp., which hauls about 15% of major companies’ so-called less-than-truckload shipments, ceased operations and told union leaders that it plans to file for bankruptcy following years of financial struggles. As companies such as FedEx Corp. and Old Dominion Freight Line Inc. compete to absorb the freight, the reduction in excess capacity may allow carriers to raise prices, said Amit Mehrotra,...