Future Of Freight In Question After Trucking Company Yellow Files For Bankruptcy
Future Of Freight In Question After Trucking Company Yellow Files For Bankruptcy Rachel Premack: Yes, so Yellow has been really on the brink of financial crisis for the past decade-and-a-half. They nearly filed bankruptcy four times going from the Great Recession all the way up to 2020. What sort of began this downfall, you could say, was several costly acquisitions that Yellow made in the early 2000s of other trucking companies. They failed to integrate those trucking companies fully into their network. And, by 2008, the financial crisis, of course, hit trucking particularly hard. And Yellow was saddled with hundreds of millions of dollars in debt and these various trucking networks that weren't fully integrated. And we didn't actually see Yellow attempt to integrate those networks until the late 2010s, early 2020s. By that point, it was too late. This company was just simply — many folks watching the trucking industry would describe Yellow as mismanaged. And they just simpl...