{"id":1987001,"date":"2023-07-31T15:57:01","date_gmt":"2023-07-31T19:57:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/end-of-an-era-as-american-trucking-company-ceases-operations\/"},"modified":"2023-07-31T15:58:05","modified_gmt":"2023-07-31T19:58:05","slug":"end-of-an-era-as-american-trucking-company-ceases-operations","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/end-of-an-era-as-american-trucking-company-ceases-operations\/","title":{"rendered":"American trucking company shuts down, marking the end of an era."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fend-of-an-era-as-american-trucking-company-ceases-operations%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1987001&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>End of an Era as American Trucking \u2064Company\u2062 Ceases\u2063 Operations<\/h2>\n<p style=\"font-weight: 400\">Yellow Corp., whose trucks have been\u200b a\u200c fixture on American highways, is filing \u2064for bankruptcy and has <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/congress-moves-to-strong-arm-biden-impose-houthi-sanctions-removed-by-admin\/\" title=\"Congress Moves To Strong-Arm Biden, Impose Houthi Sanctions Removed by Admin\">ceased operations<\/a>.<\/p>\n<blockquote>\n<p style=\"font-weight: 400\">\u201cYellow has historically proven that\u200d it could not manage itself despite billions of dollars in \u200cworker concessions and hundreds of millions in bailout funding from the federal \u2063government,\u201d Teamsters\u2063 General President Sean\u2063 M. O\u2019Brien said\u200c in a statement, according to <a href=\"https:\/\/www.reuters.com\/business\/autos-transportation\/us-trucking-company-yellow-shuts-down-operations-wsj-2023-07-30\/#:~:text=July%2031%20(Reuters)%20%2D%20Cash,Teamsters%20Union%20said%20on%20Sunday.https:\/\/www.reuters.com\/business\/autos-transportation\/us-trucking-company-yellow-shuts-down-operations-wsj-2023-07-30\/\" target=\"_blank\" rel=\"noopener\">Reuters<\/a>.<\/p>\n<\/blockquote>\n<p style=\"font-weight: 400\" data-testid=\"paragraph-4\">The 99-year-old <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/she-claimed-she-was-kidnapped-and-sexually-assaulted-now-shes-being-charged-with-lying\/\" title=\"She Claimed She Was Kidnapped And Sexually Assaulted. Now She\u2019s Being Charged With Lying.\">trucking company<\/a> will\u200b lay off all 30,000 employees, according to <a href=\"https:\/\/www.cnn.com\/2023\/07\/31\/business\/yellow-corp-closing\/index.html\" target=\"_blank\" rel=\"noopener\">CNN<\/a>. The Teamsters Union represents about 22,000 drivers and dock workers who are now out of work.<\/p>\n<p style=\"font-weight: 400\">Yellow, which has a\u200c fleet of\u2063 more than 12,000 trucks, notified customers and employees \u2063on Sunday that it would cease \u2064operations, prepare to file for bankruptcy and\u200d sell off parts of\u2063 the company, according to the \u2062 <a href=\"https:\/\/www.wsj.com\/articles\/the-fall-of-a-trucking-giant-why-yellow-is-on-the-verge-of-collapse-3724f662\" target=\"_blank\" rel=\"noopener\">Wall Street Journal.<\/a><\/p>\n<p style=\"font-weight: 400\">The Journal called Yellow\u2019s demise the \u201cbiggest collapse in terms of revenue and jobs for the fickle U.S. trucking industry.\u201d<\/p>\n<p style=\"font-weight: 400\">\u201cIt\u2019s an <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/former-1st-round-nfl-pick-and-super-bowl-champion-charles-johnson-dead-at-50\/\" title=\"Former 1st Round NFL Pick and Super Bowl Champion Charles Johnson Dead at 50\">incredibly sad situation<\/a> because there\u2019s the potential that this company that was about to celebrate its 100-year anniversary next year may not be around,\u201d said Chris Sultemeier, a\u200c Yellow board \u2064member since 2020.<\/p>\n<p style=\"font-weight: 400\">On Friday, <a href=\"https:\/\/www.westernjournal.com\/ap-teamsters-president-says-asked-white-house-not-intervene-ups-workers-go-strike\/\" target=\"_blank\" rel=\"noopener\">Teamsters<\/a> \u200cofficials told local unions that the \u2062\u201clikelihood that\u2064 Yellow will\u2064 survive is increasingly bleak.\u201d<\/p>\n<p style=\"font-weight: 400\">The Friday memo\u200c urged <a href=\"https:\/\/www.westernjournal.com\/dumb-idea-trucking-industry-reportedly-no-confidence-bidens-plan-solve-shipping-crisis\/\" target=\"_blank\" rel=\"noopener\">union workers<\/a> \u200d to take home any tools or personal\u200b belongings to ensure that when the company went bankrupt, those items were not locked away \u200bout of reach.<\/p>\n<p style=\"font-weight: 400\">Since 2009,\u2062 Yellow has earned about \u2063$5 billion a year\u200b in revenue, but at best only saw profits below $25 million, the Journal reported.<\/p>\n<p style=\"font-weight: 400\">Satish\u200b Jindel, president of \u200cSJ Consulting, said\u2064 Yellow was \u200cnot competitive in either\u2063 price or delivery times.<\/p>\n<p style=\"font-weight: 400\">\u201cThey have not operated and managed well,\u201d Jindel said. \u2062\u201cYou have to have proper service to \u200cget good rates.\u201d<\/p>\n<p style=\"font-weight: 400\">Yellow started in Oklahoma City\u2064 in 1924 as a taxi and bus operation, but it grew\u200c through\u2062 multiple acquisitions and even a 1951\u2063 bankruptcy.<\/p>\n<p style=\"font-weight: 400\">Yellow received\u200b a <a href=\"https:\/\/www.westernjournal.com\/trucking-industry-sounds-alarm-bidens-latest-green-move-matter-life-death\/\" target=\"_blank\" rel=\"noopener\">$700 million loan<\/a> as \u200dpart of a federal COVID-19 rescue package but was still \u200dunable to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/end-of-an-era-as-american-trucking-company-ceases-operations\/\" title=\"American trucking company shuts down, marking the end of an era.\">make\u200c ends meet<\/a> after the \u200bpandemic ended.<\/p>\n<p style=\"font-weight: 400\">The company\u2064 and the union had battled as Yellow\u2019s fiscal health failed.<\/p>\n<p style=\"font-weight: 400\">Mike Regan, an\u200d executive at TranzAct\u2063 Technologies, blamed \u2064the union.<\/p>\n<p style=\"font-weight: 400\">\u201cThe Teamsters \u200bclearly\u2064 overplayed \u200ctheir hand,\u201d he said.<\/p>\n<p style=\"font-weight: 400\">President O\u2019Brien disagreed.<\/p>\n<p style=\"font-weight: 400\">\u201cWe \u2064do not want to see\u200d any company suffer and go out of business, but at some point in time, we cannot keep sacrificing wages,\u200d conditions that our\u2062 forefathers and foresisters had fought long and\u2063 hard for in our freight division,\u201d he said during a July 22 rally\u2064 in Atlanta.<\/p>\n<p>The post <a rel=\"nofollow\" href=\"https:\/\/www.westernjournal.com\/end-era-american-trucking-company-ceases-operations\/\">End \u200bof an Era as American Trucking Company Ceases Operations<\/a> appeared first on <a rel=\"nofollow\" href=\"https:\/\/www.westernjournal.com\">The Western \u200dJournal<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Yellow Corp., a long-standing presence on US highways, has declared bankruptcy and halted its operations. Despite receiving substantial worker concessions and federal bailout funds, the company&#8217;s inability to effectively manage itself has been evident, according to Teamsters General President Sean M. O&#8217;Brien.<\/p>\n","protected":false},"author":661,"featured_media":1987002,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[548],"tags":[],"class_list":["post-1987001","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-conservative-news-daily"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1987001","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/661"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1987001"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1987001\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1987002"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1987001"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1987001"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1987001"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}