To read more, click here
The post Looking back at some of the top Yellow Corp. stories over the past year appeared first on FreightWaves.
Yellow Transportation
Check Call: A higher level of service
Hot Takes
Image: Jim Allen/FreightWavesTurning and burning, these wheels don’t quit moving. Stuck trying to get a carrier to go to a certain market but you have another shipper within about 100 miles from there? I smell a continuous move in your future. Continuous moves are a result of stringing multiple loads from one or more shippers together, which allows you to negotiate a slightly better rate.
For example, if you have a shipper that has a load from Bardstown, Kentucky, to Fayetteville,...
https://www.freightwaves.com/news/check-call-a-higher-level-of-service
FedEx Freight customer dump shows LTL carriers in driver’s seat
Hundreds of shippers, including ones that supply big-box retailers like Home Depot and Lowe’s, are scrambling for transportation after FedEx Freight (NYSE: FDX) on Monday abruptly stopped truck pickups at many locations to help overwhelmed terminals restore productivity levels.
The snap decision to jettison thousands of customer sites from its network was an aggressive response to unprecedented volumes and capacity constraints, but FedEx is not alone among less-than-truckload companies in...
https://www.freightwaves.com/news/fedex-freight-customer-dump-shows-ltl-carriers-in-drivers-seat
The Daily Dash: Pension bailout possible for Yellow, ABF drivers; record Q4 for XPO
The Daily Dash is a quick look at what is happening in the freight ecosystem. In today’s edition, the COVID-19 relief bill working through Congress may be the vehicle through which pension reform happens for multiemployer pension plans, including those of Yellow and ABF Freight. Plus, a strong freight market led to a record quarter for XPO, and Uber Freight posts revenue growth in Q4.
Legislative fix?The COVID-19 relief bill could serve as a vehicle to bail out multiemployer pension funds,...
New fleet to advance YRC turnaround
Soon to be doing business under the Yellow banner again, YRC Worldwide (NASDAQ: YRCW) CEO Darren Hawkins said he likes the direction the company is headed.
Presenting virtually at the Stephens Annual Investment Conference on Wednesday, Hawkins said he has “a lot of confidence” in the restructuring the less-than-truckload (LTL) carrier has in place, noting that broader demand should continue to serve as a tailwind.
Demand to provide a tailwindHawkins commented that the consumer remains strong and...
https://s29755.pcdn.co/news/new-fleet-to-advance-yrc-turnaround
YRC rolls new name, fleet, CFO, board seats into Q3 report
Less-than-truckload (LTL) carrier YRC Worldwide (NASDAQ: YRCW) announced a bunch of changes in its third-quarter report — likely none bigger than its draw on the second tranche of a $700 million Treasury loan.
After months of scrutiny over the Treasury’s underwriting of a relief loan to YRC and the Defense Department’s designation that the carrier was a “business critical to maintaining national security,” a classification allowing it to qualify for the loan, YRC has drawn the first $75 million...
https://s29755.pcdn.co/news/yrc-rolls-new-name-fleet-cfo-board-seats-into-q3-report
YRC taps loan agreement for fleet investment; CFO resigns
Less-than-truckload (LTL) carrier YRC Worldwide (NASDAQ: YRCW) announced that it has drawn $75 million in funds from the $400 million second tranche of the $700 million Treasury loan it received as part of the government’s pandemic relief lending program.
On Monday, the Overland Park, Kansas-based company reported a third-quarter loss of just $2 million, or 4 cents per share, significantly better than consensus estimates of a loss of 25 to 28 cents per share. The result was also much improved...
https://s29755.pcdn.co/news/yrc-taps-loan-agreement-for-fleet-investment