From the Great Recession to 2020, Yellow nearly went bankrupt four times. In each episode, the trucking giant was saved — thanks to concessions from lenders, the Teamsters union, the federal government or often all three. As a result, some of Yellow’s 30,000 employees weren’t too scared when the company began warning this summer that…
Trailer orders sank in June to their lowest of the year, but seasonality was a bigger factor than a significant decline in demand. Still, preliminary bookings of just 6,300 units stood in stark contrast from a year ago, according to ACT Research. Orders were down 34% from May and 75% lower than June 2022. “Seasonal…
Less-than-truckload carrier Yellow Corp. has asked the U.S. District Court for the District of Kansas to enter a temporary restraining order and preliminary injunction barring the Teamsters union from a work stoppage. A hearing is scheduled for Friday in Kansas City at 1:30 p.m. local time. The Thursday request follows a strike notice issued by…
Although some of the metrics at TriumphPay weakened in the second quarter, the trucking-focused Triumph Financial said that segment — which management sees as the key to its future — continued to move toward EBITDA profitability. The management at Triumph Financial (NASDAQ: TFIN), which operates the TriumphPay payments and audit network as well as its…
TuSimple filed the first of four late financial documents this week. It’s easy to see why the autonomous truck software developer gave up freight hauling. It cost more than twice as much as it was seeing in revenue. And the company has just 250 U.S. employees after two rounds of layoffs and a refocus on…