Headline Roundup • August 7th, 2023
Yellow Corporation Files for Bankruptcy
Summary from the AllSides News Team
Yellow Corporation, a Nashville-based trucking company, filed for bankruptcy protection on Sunday night.
Key Details: Yellow Corporation is the third largest less-than-truckload carrier in the United States and has been operating for 99 years. The company announced its closure on July 30th amid a Teamsters union stalemate.
Key Quote: “It is with profound disappointment that Yellow announces that it is closing after nearly 100 years in business,” CEO Darren Hawkins said in a statement. “Today, it is not common for someone to work at one company for 20, 30, or even 40 years, yet many at Yellow did. For generations, Yellow provided hundreds of thousands of Americans with solid, good-paying jobs and fulfilling careers.”
For Context: Yellow Corporation's filing for bankruptcy likely wipes out most of a $700 million loan approved during the Trump administration, and will destroy tens of thousands of jobs.
How the Media Covered it: Sources on the right and left noted that Yellow Corporation had been struggling with an unaffordable debt load, slowing business, and a running battle with the Teamsters union.
Featured Coverage of this Story
Justin Sullivan/Getty Images
Yellow Corp., a once-dominant US trucking company, has filed for bankruptcy as it winds down its 99-year-old business that employs 30,000 workers.
The Nashville-based logistics provider announced Sunday it had filed for Chapter 11 relief in the US Bankruptcy Court for the district of Delaware.
“It is with profound disappointment that Yellow announces that it is closing after nearly 100 years in business,” CEO Darren Hawkins said in a statement.
“Today, it is not common for someone to work at one company for 20, 30, or even 40 years, yet...
AP Photo/Charlie Riedel
One of the nation's largest trucking companies, Yellow, has filed for bankruptcy less than two weeks after announcing its closure.
The business, which has been around for 99 years, said it made the decision so that it could close its operations in an "orderly" way. It was just three years ago that the major trucking company received a $700 million pandemic-era lifeline from the federal government, according to the New York Times.
"It is with profound disappointment that Yellow announces that it is closing after nearly 100 years in business," Yellow CEO Darren Hawkins said in a...
Yellow Corp.—the third largest less-than-truckload carrier in the U.S.—plans to file for bankruptcy, the union that represents its employees announced Monday, leaving its 30,000 employees without work and U.S. taxpayers wondering how the company can repay the hundreds of millions of dollars the company received in a pandemic era loan from the government.
Some 30,000 employees are out of work Monday after the Teamsters Union announced Yellow, the third ... [+]
The Teamsters union—which represents employees at Yellow as well as UPS, Amazon and other companies—said it was served legal notice Monday...
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