Yellow Corp. (NASDAQ: YELL) has failed to make its required pension contributions for June and is planning to withhold payments for July. The pension funds, pension accruals and health care coverage for workers will suspend on Sunday, according to a statement by the Teamsters. The Teamsters union has threatened to strike by Monday if this…
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Yellow (NASDAQ: YELL) just narrowly avoided bankruptcy for the fifth time since 2009. The potential for collapse is still looming, though. That’s scaring some customers off, according to three brokers and two industry experts interviewed by FreightWaves. Recent notes from investment banks like Bank of America and Stifel have also pointed to customers quietly diverting…
A delinquency notice was issued Monday showing less-than-truckload carrier Yellow Corp. failed to make required contributions to health and welfare and pension funds for the month of June and that it is planning to withhold payments for July. The two periods total more than $50 million, according to a letter from Central States board of…
Load board DAT Solutions and digital freight brokerage Convoy have agreed to drop their lawsuits against each other, according to a notice filed by the two companies’ attorneys on Monday in an Oregon federal district court. The notice specifies that the parties agreed to dismiss their claims “with prejudice,” meaning that neither party can refile…