2y ago

After $700 Million U.S. Bailout, Trucking Firm Is Shutting Down

web.archive.org After $700 Million U.S. Bailout, Trucking Firm Is Shutting Down

Yellow, which received a pandemic loan, is winding down operations ahead of an expected bankruptcy filing. The closure of the company would mean the loss of about 30,000 jobs.

Yellow, which received a pandemic loan, is winding down operations ahead of an expected bankruptcy filing. The closure of the company would mean the loss of about 30,000 jobs.

Original NYT link.

10 comments

What's the bet they pocketed most of that money and then closed.

🎵Look at the stars, look how they shine for you. 🎵

When you are a leech of the people, you can't be punished, right?
- Leeches of the people get a pass, because they’re a sad ☹️
- I know of at least one orange dude that just about nothing has happened to for what... seven years now? So yeah, guess it tracks.

What's their burn rate that they're going bankrupt after 700M in cash?
- At 30,000 employees that's only $23,000/person. I'm sure payroll alone is well North of $700M per year.
  
  Thanks for doing the math

I'm sure I can find it in the article but what kind of bankruptcy? Are investors walking away with bruises?
- Stock fell on Thursday, declared bankruptcy Friday.

10 comments