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Jared Bernstein - 1 Monday - 1 Bernstein - 1 Doina Chiacu - 1 Bernadette Baum - 1 Mark Potter - 1 Tom Nightingale - 1 Donald Trump - 1
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Search resuls for: "Yellow's"


3 mentions found


☆ Yellow Corp financial woes not economy-wide issue -White House adviser
  + stars: | 2023-07-31 | by ( ) www.reuters.com   time to read: +1 min
WASHINGTON, July 31 (Reuters) - White House economic adviser Jared Bernstein on Monday said the reported impending bankruptcy of cash-strapped U.S. trucking company Yellow Corp (YELL.O) does not indicate an economy-wide problem. "So I think that this looks like a more of a Yellow story than an economy-wide one by a long shot," Bernstein said. Yellow Corp has ceased operations and is filing for bankruptcy after failing to reorganize and refinance over a billion dollars in debt, the Teamsters Union said on Sunday. The company was the third-biggest U.S. trucker specializing in the less-than-truckload segment that combines shipments from different customers in the same trailer. "Nobody likes to see an event like this, as you say, practically a 100-year old company and iconic American Trucking Company and the job losses that you cited."
Persons: Jared Bernstein, Monday, Bernstein, Doina Chiacu, Bernadette Baum, Mark Potter Organizations: Yellow Corp, of Economic Advisers, CNBC, Corp, Teamsters Union, Teamsters, American Trucking Company, Thomson
☆ UPS has to pass along higher labor costs in broad-based price increases, says AFS Logistics CEO
  + stars: | 2023-07-31 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUPS has to pass along higher labor costs in broad-based price increases, says AFS Logistics CEOTom Nightingale, CEO of AFS Logistics, joins 'Power Lunch' to discuss the immediate effect of the trucking company Yellow's shutdown, a potential glut in freight capacity, and who will be most affected by price increases by increased shipping costs.
Persons: Tom Nightingale Organizations: UPS, AFS, AFS Logistics
☆ Strike at trucking firm Yellow averted after deal
  + stars: | 2023-07-23 | by ( ) www.reuters.com   time to read: +2 min
July 23 (Reuters) - U.S. trucking firm Yellow (YELL.O) averted a threatened strike by 22,000 Teamsters-represented workers on Sunday, saying the company will pay the more than $50 million it owed in worker benefits and pension accruals. Yellow is the third-biggest U.S. trucking company specializing in the less-than-truckload segment that combines shipments from different customers in the same trailer. Competitors, who are grappling with a sharp drop in freight volume, are expected to cherry-pick the company's customers, trucking experts and analysts said. It has successfully won such concessions in the past, but this time was rebuffed by new Teamsters General President Sean O'Brien. A federal judge in Kansas on Friday rejected Yellow's request to block the Teamsters from striking over the delinquent benefit payments.
Persons: Donald Trump, Sean O'Brien, O'Brien, O’Brien, Yellow's, Lisa Baertlein, Ananta Agarwal, Mrinmay Dey, Diane Craft, Chris Reese Organizations: Teamsters, Central, U.S, Walmart, Uber, Apollo Global Management, . Company, International Brotherhood of Teamsters, United Parcel Service, Thomson Locations: U.S, Central States, Nashville , Tennessee, Kansas, Los Angeles, Bengaluru
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