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Posted: 7/29/2023 2:04:15 PM EDT
[#1]
I hate to know people lost their jobs. Haven't used them since the 60s and wanted 2.5x the freight rate. We don't do much now We use AAA Cooper for the occasional condenser or furnace.
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Posted: 7/29/2023 2:05:10 PM EDT
[#2]
Quote HistoryQuoted: Unions, fucking their workers and enriching the kingpins since their inception. |
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Posted: 7/29/2023 2:06:16 PM EDT
[#3]
Maybe they can go to work for ups. Still some meat on the bones there to pick off…
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Posted: 7/29/2023 2:07:40 PM EDT
[#4]
A couple of years after my Dad mustered out of the Air Corps in WW2 he walked across a "picket line" in Dallas to go to work. He was called "SCAB!!" and threatened. NO FUCKS GIVEN for the idiots that join unions. I never needed a "nanny" to negotiate my wage OR the price I charged for my products later in life. Just think Union Guys. You're now without a job, no pension, no future and you're old. The "bosses" of your "union? They are fat and happy with all the money they STOLE from you.
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Posted: 7/29/2023 2:07:46 PM EDT
[#5]
The should have had the foresight to put Hunter on the Board of Directors.
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Posted: 7/29/2023 2:08:01 PM EDT
[#6]
For those here blaming the union, obviously don't know the history of YFC
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Posted: 7/29/2023 2:10:20 PM EDT
[#7]
Quote HistoryQuoted: 6.4% hazmat OOS versus national average of 4.5% - holy shit that's awful. Quote HistoryQuoted: Quoted: Nah, went to healthcare costs and new equipment. I mean yeah, in theory it went off shore. They bought primarily International (Navistar, owned by VW), Freightliner (Daimler group) trucks and Hyundai trailers. So equipment wise, it went off shore in that way. But they got tied to government contracts. Which, I’ve dealt with a number of carriers who base the majority of their capacity and operations on government contracts. They all go under / bankrupt at some point in time. Yellow was also (in)famous for damaging freight. Which costs a ton of money. Their safety standards were laxed. Their hazmat OOS is above average. For a large company, as large as they were, to have that level of OOS, is sad at best. Don’t believe me? Public CSA score: https://ai.fmcsa.dot.gov/SMS/Carrier/71821/Overview.aspx?FirstView=True US DOT# 71821 6.4% hazmat OOS versus national average of 4.5% - holy shit that's awful. Their general OOS rate is bad. My hazmat OOS rate is higher. But we had a paperwork issue between a refinery and us, that the DOT bee lined to. And we got 5 quick tickets before the refinery fixed the paperwork. (Their diesel BOL, said flammable. Not combustible… and we had 1993 placards on, not 1203… because we were carrying diesel, not gasoline…) Anyways those will be falling off soon. But my truck OOS rate is much lower than theirs. And my driver OOS is literally 0. With ELD’s I don’t get how you have a driver OOS score at all. Especially in a large company. In the next ~6 months my OOS rate over all should be almost 0. |
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Posted: 7/29/2023 2:10:35 PM EDT
[#8]
Quote HistoryQuoted: Union didn't do this to Yellow, their corporate big wigs and their poor financial decisions did. They bought and bought beyond what they could control. Been going on for years. Yellow had the goal of becoming a super regional. One issue is that all of the other carriers they purchased led to a lot of redundancy in capability and obviously more costs of underutilized assets. They've been slow in shedding those redundant facilities. |
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Posted: 7/29/2023 2:11:12 PM EDT
[#9]
Do people really count on only their employer funded union managed pension and not save anything else?
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Posted: 7/29/2023 2:12:01 PM EDT
[#10]
Quote HistoryQuoted: For those here blaming the union, obviously don't know the history of YFC |
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Posted: 7/29/2023 2:12:16 PM EDT
[#11]
Quote HistoryQuoted: Unions, fucking their workers and enriching the kingpins since their inception. The union had zero to do with this. Yellow bought up 5 profitable companies and ran them into the dirt. |
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Posted: 7/29/2023 2:12:30 PM EDT
[#12]
Bidennomics is hard at work. All you Never-Trumpers have fucked the working man.
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Posted: 7/29/2023 2:13:03 PM EDT
[#13]
Quote HistoryQuoted: Union didn't do this to Yellow, their corporate big wigs and their poor financial decisions did. They bought and bought beyond what they could control. Been going on for years. Quote HistoryQuoted: Quoted: Unions, fucking their workers and enriching the kingpins since their inception. Union put the final knife in them to pressure UPS. |
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Posted: 7/29/2023 2:13:11 PM EDT
[#14]
Quote HistoryQuoted: Bidennomics is hard at work. All you Never-Trumpers have fucked the working man. lol wut? |
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Posted: 7/29/2023 2:14:41 PM EDT
[#15]
Quote HistoryQuoted: For those here blaming the union, obviously don't know the history of YFC To repeat what I said in a thread a couple weeks back: The Execs fucked the drivers. The Union fucked the drivers, The drivers....well they got proper fucked. |
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Posted: 7/29/2023 2:15:02 PM EDT
[#16]
Quote HistoryQuoted: Oldest LTL carrier in the country. This is gonna cause some significant waves in the freight business. It’s not the oldest. Not sure who is but ABF is older. |
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Posted: 7/29/2023 2:16:01 PM EDT
[#17]
Quote HistoryQuoted: With the massive amount of shit that ships now how are they not killing it? Incompetence and/or debt. |
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Posted: 7/29/2023 2:16:02 PM EDT
[#18]
Quote HistoryQuoted: Amazon trucking will be along shortly with new EV trucks. …and freight costs will skyrocket increasing the income gap between the working man and the fat cat Democrats. |
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Posted: 7/29/2023 2:17:00 PM EDT
[#19]
Quote HistoryQuoted: Oldest LTL carrier in the country. This is gonna cause some significant waves in the freight business. Plenty of LTL capacity out there in my opinion. It’s going to force contract shipping companies to renegotiate with a new company. Which will be better for the trucking side, not the shipper however. |
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Posted: 7/29/2023 2:18:17 PM EDT
[#20]
Quote HistoryQuoted: CEOs are the good guys? Extortion isn’t exactly “good” either. |
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Posted: 7/29/2023 2:19:13 PM EDT
[#21]
Quote HistoryQuoted: Oldest LTL carrier in the country. This is gonna cause some significant waves in the freight business. And the mob business… |
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Posted: 7/29/2023 2:20:28 PM EDT
[#22]
Quote HistoryQuoted: lol wut? Own it, they caused the increase in operating costs and all of the economic consequences. Trump raised the real wages of the working man and Biden destroyed all of the befit that the working man received under Trump. There is a reason the Big Government elitists are out to destroy Trump. Get your head out of your ass or the sand depending on how you came to your conclusion. |
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Posted: 7/29/2023 2:20:56 PM EDT
[#23]
Think of it this way - if Yellow drivers had no union, then the company may have lasted another six months to a year before coming to this point today.
Too much competition, way too much redundancy. Consider at one time Yellow had like six subsidiaries that they bought out that were all doing the same thing - hauling LTL freight. A couple of these companies they purchased were in bad shape when Yellow acquired them. I can't help but wonder how Yellow would be today if they hadn't run off and tried buying out every and anything they could. They'd probably be just fine. |
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Posted: 7/29/2023 2:21:18 PM EDT
[#24]
Quote HistoryQuoted: Amazon trucking will be along shortly with new EV trucks. Not sure if this was a joke of serious, but Amazon is actually in the process of rolling out a freight version of the local delivery van model. Technically the trucks are owned and operated by independent contractors but they are Amazon branded trucks, a lot of them are running on natural gas. They only work for Amazon and Amazon controls everything they do. It makes a lot of sense, Amazon is big enough that they can use their logistics infrastructure to use a relay system to move freight around both for themselves and third-party customers. The drivers get to be home every night and they get paid hourly instead of by the mile. You aren't going to make as much money as being over the road non-stop, but it's not a bad income for what you're doing (no touching freight, just dropping hook from one hub to another). And Amazon doesn't have the legacy costs that Yellow has accumulated. I expect them to make big gains in market share in the industry. https://www.amazon.com/?tag=arfcom00-20 For third party shippers:https://www.amazon.com/?tag=arfcom00-20 |
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Posted: 7/29/2023 2:21:37 PM EDT
[#25]
Quote HistoryQuoted: To repeat what I said in a thread a couple weeks back: The Execs fucked the drivers. The Union fucked the drivers, The drivers....well they got proper fucked. Those who refuse to put any blame on the Teamsters are out of touch. The unions exist for one reason and only one reason. To make the union bosses wealthy AF. They will talk about how they take such great care of their members, but will they give any of their massive wealth to the members they’ve been milking dues from for years - especially those who’ll likely lose their pension at YRC? ETA: I also blamed YRC management in my earlier post. It was run poorly. |
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Posted: 7/29/2023 2:22:57 PM EDT
[#26]
Quote HistoryQuoted: The Teamsters are at the heart of this. There are only a couple of LTL companies that are unionized, and those experience much higher personal costs. The following is my understanding of how this all went down. Feel free to add to or correct if I've got something wrong. The Teamsters have a new president who's name escapes me at the moment. He's been playing hard ball with every negotiation so far. When it came to Yellow, Yellow basically said, if you're not willing to make some concessions, we're going under. The Teamsters basically said fuck you, we're not compromising. Yellow said, we told you so and defaulted on a major payment to the Teamsters pension fund. Teamsters came back and said we'll maybe we overreacted and we can still negotiate. At that point it was too late because Yellow's freight volume fell off a cliff due to shippers unwilling to have freight in Yellow's system when the doors get locked during bankruptcy. Incidentally, it looks like a Yellow bankruptcy would end in a liquidation sale of assets. Given the huge drop off in freight, the value of the name and customer base has less value than that of their physical assets at this point. The union isn’t to blame. They have taken a ton of concessions since 2009. In fact they haven’t given up billions to Yellow. One problem yellow had was way too many supervisors. They run 25-50% more supervisors than my company. And their freight rates were way too cheap. |
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Posted: 7/29/2023 2:23:47 PM EDT
[#27]
Quote HistoryQuoted: Own it, they caused the increase in operating costs and all of the economic consequences. Trump raised the real wages of the working man and Biden destroyed all of the befit that the working man received under Trump. There is a reason the Big Government elitists are out to destroy Trump. Get your head out of your ass or the sand depending on how you came to your conclusion. Quote HistoryQuoted: Quoted: lol wut? Own it, they caused the increase in operating costs and all of the economic consequences. Trump raised the real wages of the working man and Biden destroyed all of the befit that the working man received under Trump. There is a reason the Big Government elitists are out to destroy Trump. Get your head out of your ass or the sand depending on how you came to your conclusion. lol wut? Dude, you’re clearly not in the trucking business. Read my posts, or, well, continue to act like a boomer on the internet. Sometimes businesses are.. just mismanaged. It happens. |
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Posted: 7/29/2023 2:24:28 PM EDT
[#28]
Quote HistoryQuoted: Union put the final knife in them to pressure UPS. |
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Posted: 7/29/2023 2:29:03 PM EDT
[#29]
Quote HistoryQuoted: Bidennomics is hard at work. All you Never-Trumpers have fucked the working man. |
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Posted: 7/29/2023 2:30:05 PM EDT
[#30]
Quote HistoryQuoted: The union isn't to blame. They have taken a ton of concessions since 2009. In fact they haven't given up billions to Yellow. One problem yellow had was way too many supervisors. They run 25-50% more supervisors than my company. And their freight rates were way too cheap. |
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Posted: 7/29/2023 2:31:25 PM EDT
[#31]
Quote HistoryQuoted: Yellow truck lines? Aren’t they one of the really big ones? They were… |
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Posted: 7/29/2023 2:35:25 PM EDT
[#32]
Quote HistoryQuoted: So the teamsters avoided a strike due to the fact that pension payments would be made and the result was the company had to cease operations and dissolve? Enjoy your final pension payment. Union employees aren't really known for their subtle grasp of math and economics. Haven't you ever seen them dancing in front of a shut-down company on their last day of work yelling "We WON!!!!!!!", too stupid to realize that they are now unemployed and NOBODY with half a brain will hire them knowing what they are? |
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Posted: 7/29/2023 2:36:26 PM EDT
[#33]
Quote HistoryQuoted: Own it, they caused the increase in operating costs and all of the economic consequences. Trump raised the real wages of the working man and Biden destroyed all of the befit that the working man received under Trump. There is a reason the Big Government elitists are out to destroy Trump. Get your head out of your ass or the sand depending on how you came to your conclusion. Quote HistoryQuoted: Quoted: lol wut? Own it, they caused the increase in operating costs and all of the economic consequences. Trump raised the real wages of the working man and Biden destroyed all of the befit that the working man received under Trump. There is a reason the Big Government elitists are out to destroy Trump. Get your head out of your ass or the sand depending on how you came to your conclusion. Trump was president when all this shit started 
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Posted: 7/29/2023 2:36:56 PM EDT
[#34]
Quote HistoryQuoted: I don't know the details but i'm sure the fuel cost has a lot to do with this disaster. The past fifteen years have gone from disaster to absolute disaster for this company. |
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Posted: 7/29/2023 2:37:14 PM EDT
[#35]
Quote HistoryQuoted: For those here blaming the union, obviously don't know the history of YFC Maybe not, but I know the history of unions, particularly the Teamsters. As bad as the UAW and the longshoremen. Come ON, robots. |
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Posted: 7/29/2023 2:37:33 PM EDT
[#36]
Yellow is saddled with some $1.5 billion in debt as of late March, including $729.2 million owed to the federal government for a controversial pandemic-era loan the Treasury Department extended on national security grounds in 2020.
Fuck em |
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Posted: 7/29/2023 2:38:02 PM EDT
[#37]
Quote HistoryQuoted: Do people really count on only their employer funded union managed pension and not save anything else? Dumb people. You know, the kind who wear shiny jackets with their union on the back and their name on the front. In case they forget their name, I guess. |
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Posted: 7/29/2023 2:38:51 PM EDT
[#38]
Yellow had a lot of bad things going for it:
- Tons of fixed rate contracts that were not profitable - Loans on buy outs that were not profitable - Loans on overly expensive equipment. - Several duplication of assets they couldn’t shed from acquisitions. - Strong competition from newer LTL carriers. - Weak maintenance & Safety records. - Union / teamster costs. - History of generally not giving a fuck. Freight damage expenses, equipment, not paying bills, etc. Biden, trump, anyone in office wouldn’t have prevented this. Doesn’t matter the economic conditions that we are, or are not in. Doesn’t matter the state of the trucking industry. Doesn’t matter the union negotiations. They had an absolute ton of co morbidities. Not a single thing killed them, all the things killed them. |
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Posted: 7/29/2023 2:40:11 PM EDT
[#39]
Wait until the trucks start driving themselves. Problem solved. New problems start. Circle of life.
And before some fucking gomer says "never", bullshit. Ten years, tops. You'll start seeing it in five. Smaller things are starting now. |
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Posted: 7/29/2023 2:41:32 PM EDT
[#40]
I remember guys who followed the union advice and went on strike at Eastern Airlines. They told me they wished they had not listened to the union. They all ended up unemployed and with new jobs.
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Posted: 7/29/2023 2:41:42 PM EDT
[#41]
Quote HistoryQuoted: Anyone who puts all of their eggs in one basket is a tard. This isn't a union/non-union issue. Private pensions should be looked at as a supplement only. Friend of mine who works in big tech was putting everything into company stock since it could be bought at a discount and was "completely safe." I sent her a few examples stock plummets in the industry and she decided to diversify a bit. Quote HistoryQuoted: Quoted: Union superbros take notes. You can not count on that employer funded retirement. Contribute to your own plan like my rat bastard ass did. Footage shared on TikTok shows one Yellow worker angrily shouting after learning his health care benefits and pension payments had ceased. The worker, who is believed to be operating in Florida , says: 'It's the motherf******s up there, I worked my a** for this company. This is my money y'all are playing with. F*** this s***.' Anyone who puts all of their eggs in one basket is a tard. This isn't a union/non-union issue. Private pensions should be looked at as a supplement only. Friend of mine who works in big tech was putting everything into company stock since it could be bought at a discount and was "completely safe." I sent her a few examples stock plummets in the industry and she decided to diversify a bit. Yes and no. I buy about $25k worth of my companies stock per year, every year as we get a 10% discount and it's the max I can buy. It started at $100 per share..we closed Friday at $380.. 
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Posted: 7/29/2023 2:42:53 PM EDT
[#42]
Quote HistoryQuoted: Own it, they caused the increase in operating costs and all of the economic consequences. Trump raised the real wages of the working man and Biden destroyed all of the befit that the working man received under Trump. There is a reason the Big Government elitists are out to destroy Trump. Get your head out of your ass or the sand depending on how you came to your conclusion. Bad yellow man or stupid old man aside, Yellow was in deep kimchi long before either of those two came along. Trump just gave them aspirin for a gun shot wound, that's all. Prolonged the inevitable. |
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Posted: 7/29/2023 2:43:13 PM EDT
[#43]
If their equipment is as old and poorly maintained as some in the know claim, would their assets even be worth the hassle of acquiring by a well run LTL like OD or Averitt?
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Posted: 7/29/2023 2:43:20 PM EDT
[#44]
Quote HistoryQuoted: I’ll side with a CEO (or management) over a union employee every time. Management will violate contracts all day long if there isn’t a mechanism to spank their pee pee I’m always dumbstruck by the evil things that corps will do |
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Posted: 7/29/2023 2:43:22 PM EDT
[#45]
Quote HistoryQuoted: lol wut? Dude, you’re clearly not in the trucking business. Read my posts, or, well, continue to act like a boomer on the internet. Sometimes businesses are.. just mismanaged. It happens. Stow the Boomer crap. You sound like a tard when you pull that out as you main talking point. Talk facts and tell me about the increases in operating and support costs and its effects on business. |
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Posted: 7/29/2023 2:44:18 PM EDT
[#46]
Quote HistoryQuoted: Trump was president when all this shit started It was the Democrats who forced the shut down during the pandemic, not Trump. |
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Posted: 7/29/2023 2:44:44 PM EDT
[#47]
Quote HistoryQuoted: With the massive amount of shit that ships now how are they not killing it? Because the amount isn't as massive as it was during the pandemic... |
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Posted: 7/29/2023 2:47:51 PM EDT
[#48]
Quote HistoryQuoted: I just sent a 2lb package via UPS from the Los Angeles to New Jersey, and it was like $20. Laughs in VI Cargo. These freight forwarding companies have you over a barrel with packages that sellers that only use UPS or FedEx. You end using freight forwarding companies because UPS and FedEx charges international rates to the USVI. And those rates are insane. But it's a $17 minimum charge for any small box. |
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Posted: 7/29/2023 2:47:56 PM EDT
[#49]
Quote HistoryQuoted: Yellow is saddled with some $1.5 billion in debt as of late March, including $729.2 million owed to the federal government for a controversial pandemic-era loan the Treasury Department extended on national security grounds in 2020. Fuck em And don't think upper management isn't trying to play this entire clusterfluck to get the idiots in the federal government to ''forgive'' that loan. I GUARANTEE it's been brought up, talked about, and different plans put forward to see what would work the best by upper management. |
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Posted: 7/29/2023 2:48:26 PM EDT
[#50]
Quote HistoryWhen I was in the Teamsters they called my home phone and were trying to tell me which Democrat candidates to vote for. So, when I told them that the voting booth was a private matter for all voters and that nobody tells me who to vote for, the guy hangs up one me. A few minutes later the union VP calls me to ask what my problem was. |
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