Yellow shutdown and backruptcy: What they means for Memphis and the Mid-South

Nashville-based Yellow Corporation, a once dominant player in the freight industry, is filing for bankruptcy. WREG looked at what the trucking giant's shutdown means for Memphis and the Mid-South.

[fimmyjox]

As a retired driver from this company, they received billions of dollars from union workers through pay cuts, reducing the pension contributions by 75%, vacation reductions along with other work rules that the workers agreed too trying to help this company stay afloat. The taxpayers are now holding the bag for the seven hundred million dollar loan they fraudulently received from the federal government. They totally mismanaged the company on the backs of the workers and the taxpayers of this country. As always with all these corporations that are given bailout money and when the company goes bankrupt and out of business the upper management will still receive their millions of dollars of bonuses. Their justification is that their bonuses are in their contract. That contract should be null and void when a company goes bankrupt due to mismanagement.

[jay-t]

Never devote decades of your life to a company.

[gsup]

Sad to see all those guys lose out on their pensions after dedicating their lives. Trucking ain't easy.

[thedestinationstation]

Eventually this will happen to all truckers. They're working on self driving trucks now

[heavenangel]

They should give every last one of them workers a truck so they can do their trucking business because they owe them

[kdbconstruction]

Lowest shipping freight prices is in industry. What did they think was going to happen.

[mydgrx]

this was a 22 year Bain Capital style destruction, YELLOW destroyed Jevic, Preston, Roadway, Holland, Reddaway, New Penn, and Yellow...

[D_Official_]

It’s so crazy cuz they trained me and I got my CDL for free. Free of charge. I didn’t like some of the people there but Yellow will forever have a special place in my heart.

[brucel.]

Where's another bail out when you need them?

[fsm]

50, 000 shipments per day a government loan provided ! Wtf ! Now theyll blame the union ! My heart goes out to the working people and families !

[joshuatoro]

I also think I wouldn't have given a loan to the teamsters as well which also got a similar loan as yellow got or bailout if you want to call it that

[geraldbryant]

I see why overnight tranpo/ups freight is now T force freight (T force stump feet twice T Force )😮

[mind-of-neo]

They cannot even title their videos properly

[williea]

I walked out the door on vacation in 2010 and never went back

[m]

Thank god one less frieight rate cutting companies

[USABOSS]

This is why you don't want to pay for UNION!

[atlexpress]

I guess it's a good thing they didn't go on strike

[improvisedsurvival]

They never like yellow drivers down at the hall anyway.

[derekgilbert]

It problems to ceo, board members should be jail for bad management bailout, 2008or 2009 with $1 Billion dollars first time and over $700 million dollars in 2020. What say that ceo, board members should be punishment jail stealing company money.

[geraldjohnson]

What happens when you hire incompetent personnel. You go under..
.unionization. X- teamster.