Welcome to ECCIE - Sign up today!

VitaMan · 08-07-2023, 09:01 AM

(Reuters) -U.S. trucking firm Yellow Corp filed for Chapter 11 bankruptcy protection on Sunday and said it would wind down. The company on Monday blamed the Teamsters for driving it into bankruptcy.

Yellow has a $700 million loan former President Donald Trump's administration issued in2020.

Yellow also gave the U.S. Treasury 15.9 million shares of its common stock.

Jacuzzme · 08-07-2023, 09:02 AM

So?

oilfieldace · 08-07-2023, 11:12 AM

Are you saying, what? Trump bankrupted them. Are you giving Trump an attaboy for trying to keep an invaluable company afloat. I know you were driving at something . Is the post about Trump or Yellow? Seems like sandbox material.

bb1961 · 08-07-2023, 12:11 PM

What my takeaway for this thread is...Trump a bad man.

oilfieldace · 08-07-2023, 01:25 PM

Quote:

Originally Posted by bb1961

What my takeaway for this thread is...Trump a bad man.

Didn’t everyone already think that?

Lucas McCain · 08-07-2023, 01:59 PM

Trump is a bad man, but he doesn't have anything to do with the shitty operations of this company led by idiots. The poor logistic structure of that company has nothing to do with politics and everything to do with a lack of execution and a lack of innovation to adapt to a more complex and rapidly changing industry. It wasn't Trump's job to fix their bad business model. It was their job to fix it.

Edit for below: I knew I should have clarified bad as in bad and not bad as in good. You got me on that one, Ace.

Tiny · 08-07-2023, 02:02 PM

I bet the government will get back a much higher % of the amount it loaned Yellow Freight than what the Obama administration handed out to Solyndra. I'm reading the loans are secured, although others may be ahead of the government in the pecking order.

Most of the trucks and other property, plant and equipment will be sold and remain in service. The truckers shouldn't have problems finding new jobs. And seeing the company going through bankruptcy during COVID or when we were having extreme supply chain and logistics problems wouldn't have been the most opportune timing.

That said, apparently part of the argument for the loan, that Yellow Freight was important to our defense industry, was overstated. And yes, perhaps this is another example of the wastefulness of our federal government. We pay our taxes and get little in return. The amount, $700 million, is small compared to the $5 trillion+ of unfunded spending legislated by the Biden administration and a Democratic House and Senate in 2021 and 2022. And the bipartisan spending legislated during 2020.

oilfieldace · 08-07-2023, 02:15 PM

Quote:

Originally Posted by Lucas McCain

Trump is a bad man, but he doesn't have anything to do with the shitty operations of this company led by idiots. The poor logistic structure of that company has nothing to do with politics and everything to do with a lack of execution and a lack of innovation to adapt to a more complex and rapidly changing industry. It wasn't Trump's job to fix their bad business model. It was their job to fix it.

Bad like in G O A T, I concur. That’s what a company gets when they hire inept, Joe Biden like management.

oilfieldace · 08-07-2023, 03:18 PM

https://www.reuters.com/business/aut...bt-2023-08-07/

I am more inclined to believe it was the fucking useless ass union dickwads. But hey I value your opinion.

VitaMan · 08-07-2023, 05:02 PM

There are many interesting elements here. Government bailouts by administrations, what value unions have with companies in competitive environments. the demise of another great and familiar company.

Another thread on this was started after this one. To each his own.

No idea how you managed to come up with a phrase "Joe Biden like management" causing the downfall of this company.
But those are the colored glasses you look through.

oilfieldace · 08-07-2023, 05:41 PM

If you are talking bout me, I don’t wear glasses. Well how I came up with the Biden phrase? H is bankrupting America and according to one poster management is what happened to Yellow. It management 100 years to accomplish what Biden has done in 3.

bb1961 · 08-07-2023, 05:51 PM

Anytime you bring up anything about biden he goes off...his threads are about Trump thrashing...as I said before...Trump lives in his head rent free!!
He managed to tie Trump to the disastrous management of Yellow Freight...go figure!!

VitaMan · 08-07-2023, 08:13 PM

No, your running mate was the only one who "managed" to do something like that.

Do you have any contribution to make to anything on this forum, or just here to attack other members ?

And your constant old, old, old meme. Soon you will try and bring back "Let's go Brandon".

bb1961 · 08-08-2023, 08:58 AM

What part of what I stated isn't true...it will be a long wait for a cogent answer.
You started a thread about Yellow Freight and HAD to insert Trump into the issue, which had NOTHING to do with their bankruptcy.

VitaMan · 08-08-2023, 09:21 AM

Yellow Freight received a bail out from the Trump administration, and also gave the US Treasury stock.
That is part of this business story. Should they have bailed out Yellow Freight ? How long to wait for a cogent answer from you, that is actually about the topic discussion ?

The old, old, old meme "rent free in your head" is stuck in your head. You care about that phrase more than any topic.

You still have contributed nothing to the discussion. Sad that is normal for your posts.