Anybody following……..
Printed From: Unofficial Allis
Category: Other Topics
Forum Name: Shops, Barns, Varmints, and Trucks
Forum Description: anything you want to talk about except politics
URL: https://www.allischalmers.com/forum/forum_posts.asp?TID=196329
Printed Date: 18 Jul 2025 at 8:23am
Software Version: Web Wiz Forums 11.10 - http://www.webwizforums.com
Topic: Anybody following……..
Posted By: Lars(wi)
Subject: Anybody following……..
Date Posted: 26 Jul 2023 at 8:18am
The saga with Yellow(YRC)?
Any thoughts?
I am no longer in the freight industry.
It’s amazing how some companies can run up such an amount of debt over decades, then ‘BAM’ hit a brick wall.
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I tried to follow the science, but it was not there. I then followed the money, and that’s where I found the science.
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Replies:
Posted By: DMiller
Date Posted: 26 Jul 2023 at 12:52pm
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Saw it happen first hand in the 80s, IML, Garrett Motor Freight, PIE, ALL gone, dozens more like them. As well most large freighters had Special Commodities Divisions for Owner Operators left hundreds stranded at every fail.
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Posted By: Dennis J OPKs
Date Posted: 26 Jul 2023 at 1:44pm
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That has to be very complicated. The Powell family lead it through some of the better times. They were/are headquartered in the KC metro area, Overland Park, KS. I'm sure there were multiple steps which led to the present "off the rails" situation. Union issues, a big covid loan-the future can't be good. There has been a lot written on this-check Google. I think the Powell connection ended years ago, have no idea who present leadership is. The Powell family did endow Powell Gardens, a very nice botanical garden about 50 miles SE of KC. Like it was mentioned they aren't the only trucking operation trouble. Anyone with better knowledge may well chime in.
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Posted By: jaybmiller
Date Posted: 26 Jul 2023 at 1:49pm
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re: It’s amazing how some companies can run up such an amount of debt over decades, then ‘BAM’ hit a brick wall
gee, didn't General Motors go BANKRUPT a few years ago ??? Well, if they hadn't been BAILED OUT by the guv..........
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3 D-14s,A-C forklift, B-112
Kubota BX23S lil' TOOT( The Other Orange Tractor)
Never burn your bridges, unless you can walk on water
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Posted By: Lars(wi)
Date Posted: 26 Jul 2023 at 2:53pm
The buy out of USF Companies, turned out to be the biggest blunder. Pay top dollar to buyout a competitor, that wasn’t even for sale(threatening a hostile takeover), then a downturn in the economy & implementation of Obumstear Care, and the die was cast.
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I tried to follow the science, but it was not there. I then followed the money, and that’s where I found the science.
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Posted By: Coke-in-MN
Date Posted: 28 Jul 2023 at 3:54pm
Reading the part of problems it seems to point at Union as they say they need around $17 more a hour to be in line with needs , Since UPS pulled out of Teamsters and set up their own health and welfare under their own Teamsters local the big money the union use to get disappeared .
This full idea that every job needs to rise in pay keeps coming up , then the everyone pay their fair share in taxes to government , well all of us retired individuals don't seem to be on anyone's list of our income isn't going up .
Use to buy a korned beef hash at walmart and was $1.74 a can - now is $2.68 , so cheap breakfast is almost more than one can afford when one added 2 eggs on top .
Couple of the Trucking mags I get have been having articles on Yellow and of how they had 3 phases of integration for the company but only Phase 1 on west coast was completed and Union blocked the next 2 unless Yellow contributed large sums to pension fund .
Kind of look at it as if Union knows so much about running a company - they should buy it and show the industry how it's done . Threatening a strike should end the problems when the company folds completely - Union Bosses will get their money , company files bankruptcy and stock holder lose , suppliers lose , and drivers are unemployed .
Teamsters Union has a bad past in managing funds and it seems now the same problems are back , GREED
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Faith isn't a jump in the dark. It is a walk in the light. Faith is not guessing; it is knowing something.
"Challenges are what make life interesting; overcoming them is what makes life meaningful."
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Posted By: Dennis J OPKs
Date Posted: 28 Jul 2023 at 4:30pm
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Latest news today looks like it could be the beginning of the end for Yellow. They announced massive terminations. That Teamsters Union has a storied past as well as the leadership. Feel bad for people who have seen their retirements squandered by bad people & bad decisions.
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Posted By: Lars(wi)
Date Posted: 28 Jul 2023 at 6:57pm
Although I am no union sympathizer by any stretch, the Teamsters for the past decade at least have given back a lot. YRC and been contributing only 25% of their obligations into their multi-employer pension fund. Workers had taken a 15% pay cut years ago. Now within the past several weeks, YRC announced suspension of money into the H&W program, then expected drivers to continue to work with no health insurance coverage.
It is sad situation, that should surprise nobody, it’s been on the horizon for a decade at least.
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I tried to follow the science, but it was not there. I then followed the money, and that’s where I found the science.
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Posted By: DMiller
Date Posted: 28 Jul 2023 at 7:09pm
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All too many players these days in LTL freight loads, those are mostly NON Union, tend to have OK benefits but lackluster compared to the Teamster types, drivers stay awhile but seem to float in and out with the wind as to local runs.
Companies at Swift, JB Hunt without federal regs can haul same loads just not as qualified nor as established for dockage to cross load or deliver. Those are the SAME bane we saw in '81 when dereg hit full tilt and any company could haul any load so long as not Hazmat or explosive or fuels.
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Posted By: DaveKamp
Date Posted: 02 Aug 2023 at 11:13pm
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Happens this way all too often:
Union: "We demand more" Company: "We have no more" Union: "Our strike will force you" Company: "we are insolvent"
All but a very small quantity of ag manufacturers in my area are gone, from this same process... and the trickle-down effect crushed the ancillary business around.
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Ten Amendments, Ten Commandments, and one Golden Rule solve most every problem. Citrus hand-cleaner with Pumice does the rest.
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Posted By: jaybmiller
Date Posted: 03 Aug 2023 at 8:11am
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had two steel mills in town
nonunion one had profit sharing union one did not....
guess whose still in business !
Always thought 'profit sharing' was a GREAT way to get more 1 hr/shift of useful work from employees....
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3 D-14s,A-C forklift, B-112
Kubota BX23S lil' TOOT( The Other Orange Tractor)
Never burn your bridges, unless you can walk on water
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Posted By: WF owner
Date Posted: 03 Aug 2023 at 9:05am
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I'm betting the shortage of drivers hurt them too. A friend of mine owns a trucking company. They had over 100 trucks a few years ago, but had to cut back because they couldn't hire enough drivers. When you have thousands of trucks, the problem is many times worse.
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