The future of one of the nation's oldest and biggest trucking companies is not looking good after suffering what experts are saying could be the beginning of the end for the company.
Embattled less-than-truckload carrier Yellow Corp. filed an Emergency Motion for a Restraining Order aimed at stopping a planned strike on Monday. The decision to strike was expected after Yellow missed a combined pension payment of nearly $50 million for Teamster workers last week. As a result, Teamster President Sean O'Brien said that Yellow's union workforce, roughly 22,000 truckers would strike as soon as Monday.
Yellow filed the motion for relief on Thursday in the US District Court for the District of Kansas, which was denied by Senior Judge Julie Robinson, according to Freightwaves.com, which allows workers to continue with their planned strike. Freight experts are predicting this might be the end of the company.
Freightwaves CEO Craig Fuller gave a straightforward prediction on what he thinks will happen, via Twitter.
The Teamsters took to Twitter, not to give hope to the 22,000 members who will likely lose their jobs, but rather, it appears to boast about the impending doom.
Want to learn more about how this all spiraled out of control. Read Freightwaves incredible coverage by clicking here (we are not paid or partnered with Freightwaves. There reporting on this is so thorough I have to share it.