After $700 Million U.S. Bailout, Trucking Firm Is Shutting Down
After $700 Million U.S. Bailout, Trucking Firm Is Shutting Down
Yellow, which received a pandemic loan, is winding down operations ahead of an expected bankruptcy filing. The closure of the company would mean the loss of about 30,000 jobs.
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Gotta be a special kind of incompetent to crumble in a booming economic period.
Gotta be a special kind of incompetent to crumble in a booming economic period.
Yellow has been horribly mismanaged for at least two decades. They should have died long ago and in any environment but one that's literally awash with money looking for investment opportunities they would have. For structural reasons IC is drying up so we're going to see a lot more badly run and unprofitable companies going belly up. This is a trend that's already started and its just going to pick up speed from here.