Yellow Corp.

XPO ready to deploy 28 new service centers

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Less-than-truckload carrier XPO will look to deploy a “once-in-a-generation” acquisition of...

https://www.freightwaves.com/news/xpo-ready-to-deploy-28-new-service-centers

‘Tremendous outcome,’ judge says in approval of Yellow terminal sales

The $1.88 billion sale of 130 of Yellow’s less-than-truckload terminals was approved by a Delaware bankruptcy court on Tuesday. A revised sale order is expected to be received by the court and entered into record Tuesday afternoon.

“Preliminarily based on what’s represented, this is obviously a tremendous outcome,” Judge Craig Goldblatt said.

The process included more than 400 interested parties completing nondisclosure agreements with 70 qualified bidders taking part in the auction that began...

https://www.freightwaves.com/news/tremendous-outcome-judge-says-in-approval-of-yellow-terminal-sales

Yellow shoots down going concern bid to revive company

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Yellow Corp. has rejected an offer that would allow it to emerge from bankruptcy and restart...

https://www.freightwaves.com/news/yellow-shoots-down-going-concern-bid-to-revive-company

First wave of Yellow terminals will go for $1.9B; sale process ongoing

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Several large less-than-truckload carriers as well as some real estate investors were named as...

https://www.freightwaves.com/news/first-wave-of-yellow-terminals-to-go-for-1-9b-sale-process-ongoing

Saia holds on to Yellow’s freight

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Less-than-truckload carrier Saia appears to be holding the volume influx it received following the...

https://www.freightwaves.com/news/saia-holds-on-to-yellows-freight

Auction for Yellow’s terminals ‘remains ongoing’

An auction for Yellow Corp.’s terminals hasn’t ended yet, a Delaware court filing revealed late Friday.

The auction for the bankrupt company’s less-than-truckload terminals began Tuesday morning, with an expectation that winning bids would be revealed Friday. The court document said it may now be Tuesday (Dec. 5) before the new owners of the service centers are made public.

Yellow operated roughly 300 terminals before it ceased operations at the end of July. Some of its property leases have...

https://www.freightwaves.com/news/auction-for-yellows-terminals-remains-ongoing

Where did Yellow’s freight go?

The third-quarter earnings season showed all publicly traded less-than-truckload carriers experienced some type of bump following Yellow’s exit. If it was a competition, Saia was the winner.

While there’s a little noise in the numbers, the sequential progression from the second to the third quarters is a good yardstick of how Yellow’s $5 billion freight share was redistributed. Yellow had been teetering for years but as tensions rose with its union workforce in the June-July time frame, shippers...

https://www.freightwaves.com/news/where-did-yellows-freight-go

Jack Cooper Transport named as Yellow suitor

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Auto hauler Jack Cooper Transport was named by Reuters as a bidder for Yellow Corp. in a deal that...

https://www.freightwaves.com/news/jack-cooper-named-as-yellow-suitor

Auction houses to liquidate Yellow’s tractors, trailers

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A Delaware bankruptcy court approved an order on Friday allowing Yellow Corp.’s estate to sell its...

https://www.freightwaves.com/news/auction-houses-to-liquidate-yellows-tractors-trailers

Saia took on big volumes, higher costs in Q3

Saia Inc. drank from an LTL fire hose in the third quarter, taking on huge volumes in the wake of Yellow Corp.’s demise and driving up its costs and operating ratio.

Investors chose to focus on the higher costs and not the record revenue and the increases in tonnage, shipments and yield per hundredweight. As of midday Friday, shares of the Johns Creek, Georgia-based LTL carrier were down 7.3% to $349.48 per share. 

Saia (NASDAQ: SAIA) reported third-quarter revenue of $775 million, a record for...

https://www.freightwaves.com/news/saia-took-on-big-volumes-higher-costs-in-q3

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