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Top related persons:
Craig Goldblatt - 3 Dietrich Knauth - 3 Donald Trump's - 2 Goldblatt - 2 Alexia Garamfalvi - 2 Pat Nash - 2 Nash - 2 Richard Chang - 2
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U.S Wilmington , Delaware Nashville , Tennessee Mexico San Diego , California North Reading , Massachusetts North America Delaware
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Yellow Corp - 4 International Brotherhood of Teamsters - 4 U.S - 4 Thomson - 4 Estes Express - 3 MFN Partners - 3 U.S . Treasury - 2 Apollo - 2

Search resuls for: "Estes Express Lines"


6 mentions found


☆ Trucking firm XPO to buy bankrupt Yellow's service centers for $870 mln
  + stars: | 2023-12-05 | by ( ) www.reuters.com   time to read: +2 min
Yellow Corp. trailers sit idle at a YRC shipping facility in North Reading, Massachusetts, U.S., August 16, 2023. REUTERS/Brian Snyder/File Photo Acquire Licensing RightsDec 5 (Reuters) - Trucking company XPO Inc (XPO.N) won a bid to buy 28 service centers of bankrupt Yellow Corp for $870 million in a closely watched auction of the nearly 100-year-old firm's assets. Yellow, formerly known as YRC, filed for Chapter 11 bankruptcy protection in August after blaming the International Brotherhood of Teamsters union for its demise. The U.S. Bankruptcy Court in Delaware will hold a hearing on Dec. 12 to approve the bids. Yellow's bankruptcy process was closely watched after its demise potentially saddled U.S. taxpayers with losses stemming from a government rescue.
Persons: Brian Snyder, XPO, Jonathan Chappell, XPO's, Aishwarya Jain, Pooja Desai, Krishna Chandra Organizations: Yellow Corp, REUTERS, Trucking, XPO Inc, International Brotherhood of Teamsters, Walmart, Evercore ISI, Estes Express Lines, Swift Transportation Holdings, U.S, Bankruptcy, Thomson Locations: North Reading , Massachusetts, U.S, North America, Delaware
☆ OpenAI Turmoil Leaves Some CIOs Questioning the AI Powerhouse’s Future
  + stars: | 2023-11-21 | by ( Isabelle Bousquette | ) www.wsj.com   time to read: 1 min
Microsoft said it is hiring Sam Altman to helm a new advanced artificial-intelligence research team, after his bid to return to OpenAI fell apart Sunday. Altman, left, appears onstage with Microsoft CEO Satya Nadella at OpenAI’s first developer conference, on Nov. 6 in San Francisco. Photo: Barbara Ortutay/Associated PressSome chief information officers are questioning the viability of ChatGPT maker OpenAI following the unexpected ouster of chief executive Sam Altman on Friday, his subsequent hire by Microsoft and an unresolved threat by hundreds of OpenAI workers to quit and follow him there. “Long-term viability of any platform is important when making decisions,” said Todd Florence, chief information officer of Estes Express Lines, a Richmond, Va.-based trucker. “Friday certainly calls that into question in regards to OpenAI.”
Persons: Sam Altman, OpenAI, Altman, Satya Nadella, Barbara Ortutay, “, ”, Todd Florence Organizations: Microsoft, OpenAI’s, Associated Press, OpenAI, Estes Express Locations: San Francisco, Richmond, Va
☆ Bankrupt trucking company Yellow eyes October sale of vehicle fleet
  + stars: | 2023-09-15 | by ( Dietrich Knauth | ) www.reuters.com   time to read: +2 min
The freight shipping company, which went bankrupt in August after a protracted labor dispute, owns approximately 12,000 trucks and 35,000 trailers, according to its bankruptcy court filings. Yellow intends to conduct an auction for the vehicles by Oct 18 and seek court approval for the vehicle sale on Oct. 27. The company is taking a longer time to sell its real estate assets, despite having a $1.525 billion offer in hand from rival shipping company Estes Express Lines. Yellow has set a Nov. 9 bid deadline and expects to seek court approval for a real estate sale in December. A longer sale process will allow more competition for Yellow's 300 shipping terminals and other real estate assets, which have already generated significant interest from buyers.
Persons: Allyson Smith, Craig Goldblatt, Smith, Estes, Donald Trump's, Goldblatt, Dietrich Knauth, Alexia Garamfalvi, Nick Zieminski Organizations: Yellow Corp, U.S, Express, Old Dominion Freight, U.S . Treasury, MFN Partners, International Brotherhood of Teamsters, Thomson Locations: Wilmington , Delaware, Yellow's, Nashville , Tennessee
☆ Trucking firm Yellow extends bankruptcy loan talks until next week
  + stars: | 2023-08-11 | by ( Dietrich Knauth | ) www.reuters.com   time to read: +3 min
Yellow filed for bankruptcy on Sunday with a loan offer for that amount from private equity firm Apollo, a senior lender to the company before its bankruptcy. The trucking company said earlier this week it was seeking alternative financing from MFN Partners, an investment firm that owns 41% of Yellow's stock, and Estes Express Lines, a rival in freight trucking. Yellow intends to use its bankruptcy to sell all of its assets, including 12,000 trucks and over 300 shipping service centers. The union, which represents about 22,000 laid-off Yellow employees, said the Nashville, Tennessee-based company "mismanaged" its way to bankruptcy. Yellow owes the U.S. Treasury over $700 million on a pandemic bailout loan approved by former President Donald Trump's administration in 2020.
Persons: Mike Blake, Pat Nash, Craig Goldblatt, Nash, Dennis Dunne, Donald Trump's, Dietrich Knauth, Mark Porter, Andrea Ricci, Alexia Garamfalvi, Richard Chang Organizations: U.S, Yellow Corp, MFN Partners, Estes Express, Apollo, U.S . Treasury Department, International Brotherhood of Teamsters, U.S . Treasury, Thomson Locations: Mexico, San Diego , California, U.S, Wilmington , Delaware, Nashville , Tennessee
☆ Trucking firm Yellow explores alternate bankruptcy loans
  + stars: | 2023-08-09 | by ( Dietrich Knauth | ) www.reuters.com   time to read: +2 min
Semi truck trailers are pictured at freight trucking company Yellow’s terminal near the Otay Mesa border crossing between the U.S. and Mexico in San Diego, California, U.S., August 7, 2023 after the company filed for bankruptcy protection. REUTERS/Mike BlakeNEW YORK, Aug 9 (Reuters) - Bankrupt trucking company Yellow Corp (YELL.O) will not seek court approval to borrow $142.5 million from private equity firm Apollo Global Management as planned on Wednesday, instead seeking time to explore alternate loan offers, an attorney for the company said. Yellow is weighing those offers while negotiating with Apollo on how those loans would impact Apollo's collateral rights on a pre-existing $501 million loan. Yellow plans to return to court on Friday with more clarity on which loan it will choose. The union, which represents about 22,000 Yellow employees, said the Nashville, Tennessee-based company "mismanaged" its way to bankruptcy despite concessions made by workers.
Persons: Mike Blake NEW, Pat Nash, Craig Goldblatt, Nash, Goldblatt, Dietrich Knauth, Chris Reese, Richard Chang Organizations: U.S, Yellow Corp, Apollo Global Management, MFN Partners, Estes Express, Apollo, International Brotherhood of Teamsters, Thomson Locations: Mexico, San Diego , California, U.S, Wilmington , Delaware, Nashville , Tennessee
☆ Truck Drivers Bear Big Burden on Data Collection. Some Companies Want to Change That.
  + stars: | 2023-04-26 | by ( Isabelle Bousquette | ) www.wsj.com   time to read: +1 min
Former truck driver Darren Suarez is terminal manager at Estes Express Lines’ Pine Brook loading dock in New Jersey. Photo: Isabelle BousquetteBeing a truck driver in the 1980s was terrible. Just ask former driver Darren Suarez, who spent years perched in boiling hot cabs with no air conditioning and only crank-down windows. Truck cabs today typically have air conditioning, and a lot else has changed since then, but one thing hasn’t: Drivers are still tasked with collecting and keeping track of detailed shipment data for logistics companies. And although that process has transitioned from paper to digital via app, drivers still bear the brunt of that burden—and it is one of the modern supply chain’s major inefficiencies.
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