30,000 employees out of work

[SStockDart]

Yellow Freight is bankrupt and out of business. 99 years. Thanks Teamsters, bet the families of the 30,000 are union proud when they have to go on welfare.

[Jeff Niceswanger]

Originally Posted by SStockDart

Yellow Freight is bankrupt and out of business. 99 years. Thanks Teamsters, bet the families of the 30,000 are union proud when they have to go on welfare.

Pretty sad. But these drivers wont be unemployed long. UPS (Teamsters) just tentatively agreed to a HUGE contract. and yes, their happy ! But UPS knows how to manage money and from what I've read Yellow's management does not.


https://www.cbsnews.com/news/yellow-...what-happened/

[SStockDart]

Doesn't work that way. FedEx won't hire anyone that was with a union that took a 99 year old company down. They are unhireable.

[SStockDart]

UPS

[SStockDart]

A Teamster strike threat delivered the final blow to cash-poor Yellow
The shutdown comes just days after a Teamsters strike at the company was averted. A week ago, a pension fund for Yellow agreed to extend health benefits for workers at two Yellow operating companies after the carrier missed its $50 million benefits payment to the fund on July 15, the union said.
While the extension held off a July 24 strike, the threat of a walkout that could disrupt operations prompted a wave of Yellow customers to bolt.

"The Teamsters actions induced a high level of variability and uncertainty in the market for Yellow's customers. The market abhors variability and uncertainty," wrote Mike Regan, co-founder of TranzAct Technologies, which manages transportation services for retailers. "Consequently, Yellow lost substantial and much needed volume."

After the Teamster strike threat, Yellow's freight volumes fell 80% within the span of a week, according to Jack Atkins, a managing director at the financial services firm Stephens who researches the transportation sector.

[Jeff Niceswanger]

Originally Posted by SStockDart

Doesn't work that way. FedEx won't hire anyone that was with a union that took a 99 year old company down. They are unhireable.

Why do you think they would want to work for that Scab Outfit FedEx ? LOL
I'd be finding out if UPS is hiring. At the end of this 5 year contract they will be making 49 dollars an hour plus a heck of ah defined pension. .That's almost enough to race a Superstocker on! At least a stocker.