Lost another big one

[Coaldust]

You are probably correct. Lots of home-owners will be asking us how to install hitch plates to their newly acquired, worn out Yellow tractors. To go with their old giant excavators.

 

[Truck Shop]

Trucks in most cases are a evil necessity, open the hood in the morning dump a sack full
of money under there-shut the hood and drive on. Repeat the next day.

 

[Truck Shop]

You are probably correct. Lots of home-owners will be asking us how to install hitch plates to their newly acquired, worn out Yellow tractors. To go with their old giant excavators.

Think of all the homeless shelters those trailers will make dispersed in the finer neighborhoods.

 

[Coaldust]

I could add an addition to my place, cheap.

 

[Truck Shop]

There are by latest figures 2 million plus trucks and 5.6 million trailers in the U.S.
*

Trucking Industry Trends, Statistics, & Forecast – 2023 Edition

See our team's research on the trucking industry. We cover statistics on vehicles, drivers, companies, the market size, truck accidents, fuel consumption, and more

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[CM1995]

They say Yellow is worth more dead than alive, with their realestate holdings. 300 terminals located in expensive places.

If they survive a restructuring bankruptcy it'll be a stock to watch. Pennies to buy in with a dollar upswing potential.

 

[Coaldust]

There are by latest figures 2 million plus trucks and 5.6 million trailers in the U.S.
*

Trucking Industry Trends, Statistics, & Forecast – 2023 Edition

See our team's research on the trucking industry. We cover statistics on vehicles, drivers, companies, the market size, truck accidents, fuel consumption, and more

www.truckinfo.net

I just submitted my MCS-150 biannual report to FMCSA this weekend, so I feel like I’m making an important contribution to the 13 million registered commercial trucks in our industry.

Sitting on the back porch, overlooking the homestead and trying to wrap up month end accounting. Sh$t posting with my HEF friends and dreading the 5:30am flight to Deadhorse in the morning. Got some work lined up in the oil patch. Going to bring my sidekick, Ziptie, with me.

 

[Truck Shop]

I just submitted my MCS-150 biannual report to FMCSA this weekend, so I feel like I’m making an important contribution to the 13 million registered commercial trucks in our industry.

That's good your helping with keeping the statistics of evil necessities.

 

[funwithfuel]

I've been watching the writing on the wall for a couple weeks. I heard the operators are losing their pensions as well. I remember CF, Yellow and TNT/Holland had a big footprint here on the southside of Chicago. Left a huge hole when CF folded and the others scaled back. Some properties particularly Yellows yard off 294 @ 103rd st remains vacant to this day.
This is gonna be ugly with a lot more collateral damage, I think.

 

[Coaldust]

I’m surprised to see that YRC has four terminals in this state. I think they probably share space with someone else. I’ll have to check that out further.

 

[Jumbo]

If they survive a restructuring bankruptcy it'll be a stock to watch. Pennies to buy in with a dollar upswing potential.

If, you are some big multinational. Most of the people that post and read these posts would get eaten alive trying to make any money on a deal like that. Most of us don't have the lawyer/accountant power to swing a deal like that.
Remember Braniff? "No one will allow an airline to go under." We bought with money we were going to spend in Reno (about $200) Braniff stock at a nickle a share. At least in Reno they gave you free drinks while at the tables. Braniff took our $200, burped and didn't even say excuse me. It was just gone. With no free drinks.

 

[Coaldust]

Here is the severance package.

 

[Truck Shop]

Geez---Trucking is a carney bum game always has been. The other buzzard freight companies
were there johnny on the spot to take over any major accounts. Every trucking company owner/
manager thinks they have the sharpest pencils plus will tell you so by either having a zipped mouth
or running it. Cutting freight rates right now to horn in on territory will happen/already has happened.
Shippers are not going to hesitate to find other freighters. I've spent years around this business
watched as they come and go, the bigger the company the bigger the truck wreck that ensues.
Freight companies are in a constant battle with shippers especially contract carriers, contract means
nothing. I remember in the early 80's trucks were deadheaded to California from PNW, couldn't
get a load going south, covered fuel was about all. Freight & Trucking is a racket, Jimmy wasn't
in it for the little guy-played the game wrong ended up in a 55 gal drum filled with concrete.
Like one owner of a brokerage told me years ago--Only the Crooked Survive.

 

[Old Doug]

Most of the stuff that i am sorting through at my Dads place came from Yellow freight . In KC they had a place were they sold stuff that got damaged in shipping. Years ago he would go there on Friday and bid on stuff. He had several buddys that did the same . The bad thing was about 75% of this stuff he bought he never was able to sell . Through Dad i got to know several guys that bought this stuff all of them had a bunch of stuff that they stored for years thinking someone would want it.

 

[terex herder]

20,000 Union teamsters and another 13,000 management or so. 1,000 in their offices in Kansas City got let go friday.

I don't know anything about truck freight but I'm working on an advanced business degree from the school of hard knocks. My studies so far suggest the ratio between revenue generators and overhead is way out of whack.

 

[DMiller]

Can see the price of van trailers going in the commode.

 

[CM1995]

If, you are some big multinational. Most of the people that post and read these posts would get eaten alive trying to make any money on a deal like that. Most of us don't have the lawyer/accountant power to swing a deal like that.

LOL. I can buy the stock on my Ameritrade account just like anyone else...

It's currently at $1.

 

[Birken Vogt]

Like one owner of a brokerage told me years ago--Only the Crooked Survive.

One LTL driver said it to me, trucking companies are all "conniving"....one pallet shipped across the state, direct to the company, $1000 and good luck if they smash it. Call a broker and get the same pallet shipped with the same co., $250, still good luck if they smash it.

YRC was a frequent caller to my business and always the same driver. He stopped by to say goodbye on Thursday. Said he was not going back into trucking, would stick it out to the end (I guess that was Fri for him) then go write a book or find other work.

 

[Birken Vogt]

Just saw some talking heads, apparently the competition that is going to step in uses outside help for line haul, Yellow did it internally, so that might be a little boost for the independents that have been struggling lately.

 

[crane operator]

I don't know anything about truck freight but I'm working on an advanced business degree from the school of hard knocks. My studies so far suggest the ratio between revenue generators and overhead is way out of whack.

One manager for every two workers doesn't sound necessary to you? With 5 people in every meeting, that means nothing is ever anyone's fault.

A 700 million dollar loan takes a while to burn through. Can't just give it to the workers, need a couple vice presidents and HR, and community outreach, and a diversity program for someone's brother in law to run.

Those VP's got to have someone to manage to earn that 13 weeks severance.