THE TAKERepublicans and Democrats pushing Treasury could benefit Jack Cooper, one the largest U.S. privately owned auto transport companies, making its long-shot bid to rescue Yellow from bankruptcy liquidation more likely.
Making Yellow’s "loan repayment terms more flexible, is a commonsense step to keep Yellow’s trucks on the road, and keep its workforce gainfully employed," he wrote.
Yellow's assets include 12,000 trucks and 35,000 trailers, along with hundreds of terminals, according to its bankruptcy court filing.
Yellow said in its bankruptcy filing it had $2.15 billion in assets and $2.59 billion in debt.
WHAT'S NEXTA final decision by Treasury on whether it will extend the loan is expected this month, as the bankruptcy proceeds to a potential sale of assets.
Persons:
Mike Blake, Josh Hawley, Trump, Roger Marshall, Sherrod Brown, Bob Casey, Elizabeth Warren, Ed Markey, Jack Cooper, Jack Cooper's, Hawley, gainfully, Biden, Jarrett Renshaw, Heather Timmons, Matthew Lewis
Organizations:
U.S, U.S . Treasury, Republicans, Democrats, Reuters, Treasury, Republican, Democratic, Walmart, International Brotherhood of Teamsters, Thomson
Locations:
Mexico, San Diego , California, U.S, Philadelphia