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Trucking expert calls Yellow bankruptcy a ‘travesty, one of the largest’ within the industry

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Yellow Corp.'s expected bankruptcy was decades in the making, says FreightWaves' Craig Fuller, who argues Teamsters were 'dragging' the 'precarious' situation.

"Certainly the Teamsters have some responsibility, particularly at the end, for sort of dragging on the negotiations and putting Yellow in a really precarious position," Fuller reacted. "But Yellow, this story, this situation, is really a decade-plus in the making."

Reacting to the soon-expected Yellow Corp. bankruptcy, shipping logistics expert and FreightWaves CEO Craig Fuller called the trucking giant a"cockroach that sort of lived on," on"Mornings with Maria" Tuesday, August 1, 2023. Fuller explained how Yellow had previous bailouts on "multiple occasions," calling Yellow a "cockroach that sort of lived on."trying to protect jobs

. Now we're looking at a situation where those jobs are not going to be replaced. Teamsters' jobs are not coming back." the shipping logistics expert pointed out. "The Teamsters got a pension bailout of $36 billion from Biden in January, that really protected the pensions," he added. "So there's a lot of Teamsters that have talked about losing their pension – the reality is that pension [is] safe, but those jobs are not."

 

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