Bleak future for Yellow Freight?

[Leowren]

Yeah same number- guess I’ll keep trying

Got through in 3 minutes at 6:30 am this morning! They say it will be delivered to my local terminal and I can pickup from there- hopefully that’s true.

 

[EmGo]

You forgot the 700m goovt "loan"

I wish I could. Between stupid washington, stupid management, and stupid laws, it's enough to make a guy cry. Sure, the teamsters were probably not a help but they're truck drivers, ya know ? They aren't supposed to be the financial wizards with MBA's.

A fish rots from the head down

And that WSJ article is such crap, someone should de-testiculate that worthless so-called 'writer'. I said it'd be "bla bla this' and "bla bla that" instead of the FACT, that the assholes at the top drove the effing ship onto the reef.

That's what they get the big money for, right ? Fucking up ?

This place is so messed up.

 

[Rob F.]

The stock seems to making record gains? WTF?

Yellow's stock quadruples in 2 days even after reports that bankruptcy is coming

Yellow Corp.'s stock soared Tuesday, following a record rally on Monday, despite reports the trucking company was headed for a bankruptcy filing.

www.marketwatch.com

 

[Rob F.]

Got through in 3 minutes at 6:30 am this morning! They say it will be delivered to my local terminal and I can pickup from there- hopefully that’s true.

Where was the truck before? Another terminal or on the road somewhere?

 

[standardparts]

I wish I could. Between stupid washington, stupid management, and stupid laws, it's enough to make a guy cry. Sure, the teamsters were probably not a help but they're truck drivers, ya know ? They aren't supposed to be the financial wizards with MBA's.

A fish rots from the head down

And that WSJ article is such crap, someone should de-testiculate that worthless so-called 'writer'. I said it'd be "bla bla this' and "bla bla that" instead of the FACT, that the assholes at the top drive the effing ship onto the reef.

That's what they get the big money for, right ? Fucking up ?

This place is so messed up.

"A fish rots from the head down"

Probably the union guy is bumping into the regulatory guy, bumping into the money guy, on their way in and out of the White House---$$Ka-Ching$$
As it's been said...It's a big club and you and me ain't in it.

 

[Leowren]

Where was the truck before? Another terminal or on the road somewhere?

It’s in St Paul Minnesota now but they said it will be moved to the final terminal (Fargo ND) and customers can pickup there. They claim I will be notified when I can pickup- I’ll update here if that actually happens.

 

[Ox]

Just talked to a chum that is a wrench @ USF Holland, and he said that it was pretty much ass_u_med by first of last week. He took his toolbox home on Thursday. Vacation day Friday. Breadline Monday....

3 weeks from his 30 years.


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Think Snow Eh!
Ox

 

[Rob F.]

It’s in St Paul Minnesota now but they said it will be moved to the final terminal (Fargo ND) and customers can pickup there. They claim I will be notified when I can pickup- I’ll update here if that actually happens.

You might reach out to your local terminal, I spoke with the terminal my pallet originated from and he told me they were moving nothing, just loading other trucks to clear the freight they have in their docks.
I asked how long that would go on and he said he did not know what would happen tomorrow...
They had updated the tracking on mine to show delivery next week and he told me that no possible way was it going to be delivered, there is nobody to do it. Just dock workers, no drivers.

 

[Leowren]

You might reach out to your local terminal, I spoke with the terminal my pallet originated from and he told me they were moving nothing, just loading other trucks to clear the freight they have in their docks.
I asked how long that would go on and he said he did not know what would happen tomorrow...
They had updated the tracking on mine to show delivery next week and he told me that no possible way was it going to be delivered, there is nobody to do it. Just dock workers, no drivers.

Customer service now tells me they’re not moving anything- I have to go get it in St Paul, a 300 mile drive for me. Fantastic.

 

[Rob F.]

Customer service now tells me they’re not moving anything- I have to go get it in St Paul, a 300 mile drive for me. Fantastic.

You are lucky. I am Calif and my crate is in Atlanta, Georgia, 2500 miles.... If I just had a 5 hr road trip I would have it by now.

 

[Ox]

Well, can't you just have another LTL pick it up there?


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Think Snow Eh!
Ox

 

[Bill D]

The problem is they buy a small company then tell the board of directors buy a loan from us at high interest so we can pay off the stock we bought. The loan makes no sense but if they do not do it they get forced from their cushy jobs. Rinse and repeat until it all comes down in a ponzi scheme crash. The reis never jail time for making such bad loans.
When Mervins was bought out they gave over 166 million dollars worth of land to the new stock buyers for no reason. The bankruptcy judge invalidated the gift since there was no money paid. But the directors did not go to jail. They just had to pay back the land .
They also charged big fat management fees to help drive the company into doing stupid stuff like buy the loans.
BilLD

 

[m16ty]

The hatred for unions confuses me. It is it jealousy, or hatred, that that y'all don't make the same wages. I can't figure it out. To me, it seems to be a good thing when a guy/gal makes a living wage. It's all about the contribution to GDP, and your bottom line.

If you look at the 8-K's for these companies, they're making record profits, if they haven't been big time mismanaged.

Fact based posts last longer because they're verifiable. If you wanna bend the facts to meet your thinking...........I guess it doesn't matter. Except to you.

My experience with unions hasn’t been all that well. In my trade I made more money working non-union. A union job would pay me union scale, which was more or less based on only how long I had been there. I went to work at a non-union job making more money because the actually pay you for your skill, not just how long you’ve been a warm body occupying a position.

I’ve also worked in a bunch of union places as a non-union contractor, and have seen all kinds of crazy things, like picking a broom up out of the floor at the janitor would claim you were taking his job or pugging in a extension cord without calling an electrician would get a grievance filed. From the outside looking in I seen the union bosses sitting fat and happy keeping the membership stirred up, and the membership just going along with whatever they say, but the people working there don’t seem to notice. Sure, there are corporations that take advantage of their employees, but I’ve also seen lots of union leaders take advantage of their membership.

 

[m16ty]

As a taxpayer, I hope the government don’t bail out Yellow.

 

[Rob F.]

Well, can't you just have another LTL pick it up there?


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Think Snow Eh!
Ox

That is the plan, now that I have spoken to a real person and know nothing is moving on their end.
Trucker friend of mine is checking into it to get it off their dock ASAP. If he cant make something happen I will get another LTL carrier to do it. Not sure who yet, Fedex, ABF, or? It would be nice to get one with a nearby terminal to pick it up there and save $$$ on final delivery.

 

[m16ty]

That is the plan, now that I have spoken to a real person and know nothing is moving on their end.
Trucker friend of mine is checking into it to get it off their dock ASAP. If he cant make something happen I will get another LTL carrier to do it. Not sure who yet, Fedex, ABF, or? It would be nice to get one with a nearby terminal to pick it up there and save $$$ on final delivery.

I’d want to get it off that dock as fast as I could. Who knows how long the warehouse workers will still be there.

 

[EmGo]

As a taxpayer, I hope the government don’t bail out Yellow.

Sorry, buddy, has to be done.

Congress, on the take from finance, has set up the laws so that people with real money can fuck over everyone else in the country with no consequences. They will walk away fat and happy from this one, too.

If the taxpayers didn't bail out these companies, there'd be so much anger that the rape victims would march on washington with torches and pitchforks. There would be congressional blood in the streets and maybe some actual changes.

Last thing finance or congress wants is actual changes, so there ya go, worker bees take it up the ass both coming and going. Hooray hooray.

 

[john.k]

Yellow have a nice collection of their old trucks from the 1920s onward ......be a shame to see it broken up.

 

[Donkey Hotey]

Though I have to admit that UPS could tear up an anvil in a sandpile

Since this thread has wandered off the subject a bunch of times anyway:

I won a brand new, air-electric lathe turret on eBay. It was going on my Haas tool room lathe and as such, had a conventional tool position, not the normal upside-down slant bed style. That made it extraordinarily odd to find and especially brand new, still in the factory crate for something like $900.

It was 350 miles away in Rancho Cordova. UPS shipping was about $100 and driving would have been about the same. I decided to let them ship it. What could UPS do to a hundred pounds of iron and steel in a wooden crate?

They lost it. The seller dragged it into a neighborhood UPS store, paid the money, took his receipt and it 'never left the building.' I was livid. How the hell do you lose an 18" cube of wood, filled with metal? It's not like it's a wrist watch.

It was insured for $500. The seller got that out of them but, had to refund my entire $900. UPS loss prevention people called me maybe a week later. They wanted to hear my side of the story. They thought it was part of a fraud scheme. I told the guy, "Look, that turret was worth a lot more to me than the $900 I paid for it. If you guys ever find it, what happens to it? Will you call me?" He realized they really did lose the thing, dropped his guard and explained that it was scanned in but, never scanned out. No cameras. No idea how it got out the back door. It's probably at the bottom of the American River or in a landfill.

And then there was the time FedEx destroyed a brand new Pelican shipping case. They somehow broke the wheels off of an empty shipping case that was packed in foam, inside an outer cardboard shipping container. Smashed all the way through the corner of the box and the container inside. That took some special skills.

 

[cnctoolcat]

As a taxpayer, I hope the government don’t bail out Yellow.

A little late to the party pal. The federal government loaned Yellow $700 million just a few years back. So we own a good chunk of the now-bankrupt company.

Yellow and Roadway merged about 15-20 years back, and it was supposed to revolutionize the LTL trucking industry. Over the years "YRC" purchased several smaller carriers, and mis-managed the incorporation of those, and the overall operations of the huge company. So bad in fact they dropped the YRC moniker, and went back to just Yellow.

Yellow management failed, that's what lost the company. Unions had little or nothing to do with it, the Teamsters bent over backwards to compromise. (Unseen work slowdowns, etc. aside...)

ToolCat