‘Yellow’ Trucking Company Files Bankruptcy Despite $700 Million in Federal Loans

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On Sunday Yellow trucking company announced it filed for Chapter 11 bankruptcy after receiving over $700 million in COVID-19 program loans from the federal government.  After 99 years the company ceased operations on July 30 with more than 12,000 trucks that serviced companies such as Walmart, Amazon, and small businesses with smaller freight.  Yellow’s CEO Darren Hawkins blamed the International Brotherhood of Teamsters’ (ITB) workers demands, saying, “We faced nine months of union intransigence, bullying and deliberately destructive tactics. A company has the right to manage its own operations, but as we have experienced, IBT leadership was able to halt our business plan, literally driving our company out of business, despite every effort to work with them.” Teamsters General President Sean O’Brien said, “Yellow has historically proven that it could not manage itself despite billions of dollars in worker concessions and hundreds of millions in bailout funding from the federal government.”