Un tribunal federal de bancarrota en Delaware determinó que Yellow Corp. no es responsable de las reclamaciones de aproximadamente 22,000 empleados sindicales por no proporcionar 60 días de aviso antes de los despidos masivos en el verano de 2023. Dijo que la compañía era una «fiduciaria» que se...
Yellow bankruptcy
ABF Freight latest LTL carrier to nab Yellow terminals
Less-than-truckload carrier ABF Freight and parent ArcBest Corp. have entered private purchase agreements to acquire two leased properties totaling $11.5 million from defunct Yellow Corp.’s estate, according to a Wednesday filing in a federal bankruptcy court in Delaware.
ArcBest (NASDAQ: ARCB) is acquiring a 108-door terminal on 32.5 acres near Denver for $7 million and a 60-door service center on 12.6 acres near Seattle for $4.5 million.
The company picked up four of Yellow’s terminals valued...
https://www.freightwaves.com/news/abf-freight-latest-ltl-carrier-to-nab-yellow-terminals
Knight-Swift titulares Compradores en la última venta de terminal amarillo
Una presentación del martes ante un tribunal de bancarrota federal en Delaware mostró el transporte de Knight-Swift, A. Duie Pyle y Tforce Properties han celebrado acuerdos de compra por un total de $ 15.1 millones para adquirir siete de las terminales difuntas de Yellow Corp. Swift con sede en...
Knight-Swift headlines buyers in latest Yellow terminal sale
A Tuesday filing with a federal bankruptcy court in Delaware showed Knight-Swift Transportation, A. Duie Pyle and TForce Properties have entered purchase agreements totaling $15.1 million to acquire seven of defunct Yellow Corp.’s terminals.
Phoenix-based Knight-Swift (NYSE: KNX) is acquiring three terminals in Southern California – Downey (71 doors), San Diego (49 doors) and Santa Maria (16 doors) – and one property in Roanoke, Virginia, (34 doors) for $9.9 million.
The four properties are...
https://www.freightwaves.com/news/knight-swift-headlines-buyers-in-latest-yellow-terminal-sale
Saia excited about pricing opportunities across expanded network
Less-than-truckload carrier Saia took market share again in the fourth quarter, but margins slid as new business wins and terminals came online. The company is at the tail end of an intense network growth initiative that has catapulted it to a national carrier serving all 48 contiguous states. The focus will now shift to pricing and margin opportunities.
Saia (NASDAQ: SAIA) beat fourth-quarter expectations Monday, reporting earnings per share of $2.84, 7 cents higher than the consensus estimate...
https://www.freightwaves.com/news/saia-excited-about-pricing-opportunities-across-expanded-network
Central Transport y R+L Carriers firman acuerdos para Yellow Real Estate
Acuerdos de compra por un total de 66,5 millones de dólares para cuatro empresas de Yellow Corp en quiebra. Las terminales de carga inferior a un camión fueron presentadas ante un tribunal federal de quiebras en Delaware el martes. Con sede en Warren, Michigan Transporte central está comprando una...
Central Transport, R+L Carriers ink deals for Yellow real estate
Purchase agreements totaling $66.5 million for four of bankrupt Yellow Corp’s. less-than-truckload terminals were entered with a federal bankruptcy court in Delaware on Tuesday.
Warren, Michigan-based Central Transport is buying one owned and two leased terminals from Yellow for $54.5 million. The owned location is a 198-door terminal on 51.6 acres in Memphis, Tennessee. The leased locations are both in California – a 165-door site in Fontana and an 87-door location in Gardena.
Central...
https://www.freightwaves.com/news/central-transport-rl-carriers-ink-deals-for-yellow-real-estate
Yellow settles 2 classes of WARN claims
Two separate plaintiff classes with claims alleging that defunct Yellow Corp. failed to provide proper notification ahead of mass layoffs have been settled, a Tuesday hearing in a Delaware federal bankruptcy court revealed.
Counsel for Yellow said tentative agreements with the Moore class, approximately 3,200 nonunion employees, and Coughlen claimants, a group of 482 mostly union employees, were settled for undisclosed amounts.
Roughly 2,700 of the former employees in the Moore class had already...
https://www.freightwaves.com/news/yellow-settles-2-classes-of-warn-claims
WARN Act claims against Yellow likely to be reduced
There are still questions surrounding claims from Yellow Corp.’s former employees who say they weren’t properly notified ahead of mass layoffs in July 2023. A Thursday opinion from a judge in a federal bankruptcy court in Delaware provided some guidance, however, several open arguments will have to be settled at a Jan. 21 hearing.
A memorandum opinion issued by Judge Craig Goldblatt noted Yellow was correct in the application of certain defenses afforded to it under the Worker Adjustment and...
https://www.freightwaves.com/news/warn-act-claims-against-yellow-likely-to-be-reduced
A stand-alone FedEx Freight gives LTL investors another pure play
Investors are getting more optionality when it comes to playing the less-than-truckload market. FedEx Corp. said Thursday it will move forward with a plan to spin off FedEx Freight, the nation’s largest LTL carrier, which experts say could be worth as much as $30 billion.
Details surrounding the transaction were sparse, but FedEx (NYSE: FDX) said separating into two publicly listed companies – a domestic and international package and freight business generating $78 billion in annual revenue, and...
https://www.freightwaves.com/news/a-stand-alone-fedex-freight-gives-ltl-investors-another-pure-play