Wow Has It Been A Minute!

Hi all been awhile well as y’all may know yellow is shutting its doors and I am out of a job. My trainer is friends with our old terminal manager from Reddaway who is with oak harbor now so I had a job interview and road test. I start Monday at oak harbor and will be a system driver. Which is I will help out other terminals that need help with linehaul and I can be out 5 days at a time and home weekends. Pay will be better then at yellow. Just glad I was able to get job so fast thank God.

I am glad to hear it. I was wondering what you were up to.

You are very lucky, I'm afraid most will not be as fortunate.

I don’t think so unfortunately hope the best for them

I am glad to hear it. I was wondering what you were up to.

You are very lucky, I'm afraid most will not be as fortunate.

I thought a deal had been cut with Yellow? To prevent this? I must be wrong then, thought I read that somewhere. This is an awful situation that affects over 33,000 people, glad you found a job so fast.

As Bobcat stated, many won’t be so lucky.

God is good man, God is good

New was a typo dk how that got there in the title lol nope there done for no deal. I don’t see how one could be done at this point. Yes he most certainly is.

I thought a deal had been cut with Yellow? To prevent this? I must be wrong then, thought I read that somewhere. This is an awful situation that affects over 33,000 people, glad you found a job so fast.

As Bobcat stated, many won’t be so lucky.

God is good man, God is good

Welcome back! I'm sorry about the Yellow situation, but I'm glad you landed on your feet. Keep us posted on how it all goes.

I thought a deal had been cut with Yellow? To prevent this? I must be wrong then, thought I read that somewhere.

It's an interesting situation and I'm following along learning a lot.

Apollo is the lender Yellow owes most. They have agreed to fund the shutdown. That's the lending I was reading up on. It wasn't another bail out, it was them moving to the front of the line.

That will make them the "debtor in possession", putting them at the very top of the list to get paid after the liquidation is compete.

You also have the stock skyrocketing because MFN is buying up a bunch of it. Last I saw they owned 48% of Yellow stock.

Buying stock makes MFN an owner of the company. MFN must believe that there are more assets than liabilities and Yellow will have a lot of cash after paying all the debt.

Then there's Uncle Sam. The 700 million from the government is secured by stock not assests. That means when/if Yellow files for bankruptcy the government gets nothing.

If the liquidation brings in more money than the debts owed, Yellow will not qualify for bankruptcy protection. Apollo and MFN are in the money business. They have no interest in running a trucking company or using the laid off work force.

New was a typo dk how that got there in the title lol

"New" is not a typo. If you look at the General forum in its entirety, you will see that each post that you have not read yet will have the word "New" in front of the title.

A few months back Brett worked on the site and added the new pictures that appear to move and other nice things.

Laura

“The debtor is slave to the lender”…….period.

It’s always annoyed me how many supposed “business leaders” , “educated economists” and “gurus” seem to dismiss this fact or act all surprised when things blow up (financially speaking) in their faces. The sad part is that innocent people often get wrecked by careless decision making. Yellow/YRC has had it coming for years (not the drivers).

Back when I was in CDL school, we had a YRC rep come talk to us. You know what pushed all of us away from even considering applying with them? They didn’t provide enough lunch to feed all 30 or so of us and the rep had to call his boss asking for more $$ to get more pizza 🍕.

I smelled their crock a mile away, glad I stayed away.

Rhino, I’m glad you got on your feet.

Yellow should be a cautionary tale for all of us about living and operating within our means.

I thought a deal had been cut with Yellow? To prevent this? I must be wrong then, thought I read that somewhere.

It's an interesting situation and I'm following along learning a lot.

Apollo is the lender Yellow owes most. They have agreed to fund the shutdown. That's the lending I was reading up on. It wasn't another bail out, it was them moving to the front of the line.

That will make them the "debtor in possession", putting them at the very top of the list to get paid after the liquidation is compete.

You also have the stock skyrocketing because MFN is buying up a bunch of it. Last I saw they owned 48% of Yellow stock.

Buying stock makes MFN an owner of the company. MFN must believe that there are more assets than liabilities and Yellow will have a lot of cash after paying all the debt.

Then there's Uncle Sam. The 700 million from the government is secured by stock not assests. That means when/if Yellow files for bankruptcy the government gets nothing.

If the liquidation brings in more money than the debts owed, Yellow will not qualify for bankruptcy protection. Apollo and MFN are in the money business. They have no interest in running a trucking company or using the laid off work force.

Ok I will hopefully goes well. Will be better money to.

Oh ok I didn’t even notice that new thing going on.

Welcome back! I'm sorry about the Yellow situation, but I'm glad you landed on your feet. Keep us posted on how it all goes.