How Did Yellow Freight Fail? Driver's Perspective

[@HonJazzz]

What’s your take on the recent Yellow Freight collapse?

[@dustyburt2891]

Thank you for your insights. Your thoughts are very similar to mine. I have worked for Yellow for 27 years and I remember the good old years when Yellow was voted #1 carrier for 6 years in a row and like you said, so much freight on the docks it was hard to get around and like you, I also learned how to do things right from the older, more experienced guys. I'm going to miss some of the guys I worked with and most of my customers I have delivered to and picked up from over the years.

[@HonJazzz]

Thank you for watching my video. Best wishes to you. Stay strong 💪🏻 and carry on.

[@rickbar123]

I knew nothing about trucking. I watched this vid and now I know a little something about trucking. Thanks.

[@HonJazzz]

You are welcome! Thanks for watching.

[@NoHomo1776]

The business climate is toxic in America, ever since 1913.

[@HonJazzz]

It certainly can be…

[@theAlienpirate]

I saw what you done there. Certain creature

[@kenwenzel9040]

Very very informed employee. These are type of employees freight carriers need. Sorry to watch his company crumple due to being over extended.

[@HonJazzz]

Thank you, I appreciate the comment.

[@grandpafalkenrath2988]

You did a great job of explaining what is going on with Yellow, I knew a lot of the old Yellow Transit drivers out of St Louis, back in the seventies and eighties, Thanks again

[@HonJazzz]

I’m glad you enjoyed the video. Thank you for watching.

[@navyvet4935]

The yellow corp. has ruined the names of Roadway USF Holland and NewPenn . Even if yellow survived ( and it looks like it will) no one will work for them. They treated the employees as a liability not an asset. Even though I love my job with Holland. Myself and many many other feel like we were done very wrong. The name Yellow is so bad that the customers I’ve talked to said they will not let yellow back on their property. I don’t blame them.

[@mboard67]

You didnt mention that taxpayers were forced to shore up that pension. It was failing as it should have.

[@RJ-fk3iu]

I’m with you. Run 2 retirements on my back ? Theirs and mine ….Not cool … took my Dad 5 union companies to finally retire under central states. I’m glad I listened to his truth when I started in 96. Stay away from the union. It’s dying which I did and been at OD for 27 yrs. He started at Branch , Jones Motor , St. John’s bury , smith transfer , USF Holland. All dead now.

[@cornbread70s4]

Pleasure workin w you Matt. Nice channel!

[@HonJazzz]

Thanks for watching

[@grantwilcox330]

Yellow was also the cheapest carrier pricing wise. The last call I listened the average shipment price for the other carriers was over $500 bucks a shipment and Yellow's was $350 a shipment. It cost a lost of money to maintain an LTL network with all the facilities that you need to have in order to properly service your customer base.

[@bobbafett1849]

they drained the workers of ~$6 BILLION in concessions since 2009

[@LobsterRavioli]

It’s a shame what happened to New Penn. my dad worked for New Penn for a very long time. He worked for them out of Southington, Connecticut.

[@jonathanwbecker3073]

30 years with Reddaway was great place to work.

[@bryany6565]

Very Informative!! You probaly know more about that company than the top 10% running it now! Great Insight on a smidge of your personal life. I went thru an an 11 week strike with my company.. worst human experiment Ive ever sat back and watched... Want to see how ugly and fast people can turn on each other... just the strike happening... was bad enough All non union instanly hated you... 75/25 on union as the Day 1s that went back to work Day 1.... some oeople went 3 day.. 1 week, 2 weeks. 3 weeks... started dropping like flies... one thing I learned Is you cant be die hard one way or another... both companies and unions can get too greedy... and everyones financial situations are different.. If you wanna see how nasty and vile mankind can get in peace time situations... A strike is it!

[@HonJazzz]

Thanks for sharing your experience Bryan. I’m glad you enjoyed the video. Yeah work culture can get toxic on both sides. I’m hoping one day for an improvement.

[@bryany6565]

@@HonJazzz checks and balances man!! Im not a union guy for say... but ive been on both sides of the fence as a government contractor and being union and non union in general as lil as im envolved being union has been better. I could write a mini novel about 11 weeks on a strike... things you see at the picket line... uggg... non union goverment workers screaming insults, spitting at you, swerving there car at you... cops being called to harass us. The hate for unions is unreal... I can see why... but I beleive they do hold a key to balance... those non union that are so vile... if there were no unions these big companys would have free reign to pay half as much and want twice the hours. To an extent my non union employees at my job higher up the pole put in longer hours and make less... Oh btw not just me listening. Me and a coworker had my phone in the center console just listening on a run in our stakebody. For what its worth his first time listening he said "this guy is very smart!!" Lol I agree.. You should have no issues finding employment in anything you do or pursue.. but I know how it is with work... Want to find something you enjoy, be comfortable and ride a wave. In the contractor world lives are very short!!! How ive been so lucky so far... karma??

[@bryany6565]

@@HonJazzz I got all rawled up in that strike im not gonna lie and by rawled up is my hold it on the inside and just sit back and watch the chaos. I went to the picket line just to be there if you think I was a zombie to hold a sign or preach on people... nope... just there because I was told I had to be to collect my "stike funds" 150$ a week... thats it... after week 4 had to report it as income on your taxes... our union has a hall in our area... multi million dollar mansion... Union and company know how to pull on heart strings... know what ive come to find on contract negotations... they draw it out tugging on hearts.. they are in bed together I honestly beleive... Ive heard rumors from high ups are strike was by design as an excuse to use why company progress was down... every negotaion since... ive seen the back and forth puppet string pull.. use my wisdom of experience to calm newer workers... just calm down... slow down... ignore any pre hype drama of might could come... Oh and why I was at that picket line if I wasnt all rawled up... I voted to strike... I got caught up... but atleast Im a man of my word... if im going to strike im going to strike... it was a very bad feeling come week 6 knowing only 2-3% of us were left... only 3-5 people on the picket line... our strike failed.... Human minds are a powerfull thing I was in that union hall and watched people circle "strike" on paper... after it was all over they claim "I never voted to strike!!!!" Lol...

[@bryany6565]

Ill let all that sink in... then ill tell you about the trials!! Yes sir!! Those who went back to work mysf included week 9 or 10?? Had to go face a trial!! Bahahaha.

[@bryany6565]

@@HonJazzz Ok so let me sit down and tell you about the trials!!! During maybe week 2 of our strike we were told from a high up from our union that anyone that crossed the line and went back to work we were told we would be taken to court and sued for every penny made... F!!!! So that was another big reason I stayed out as long as I did... If im going to be out the money one way or the other... Id rather not have court BS drama to deal with... And I wasnt just a veggie relying on the lame union strike funds that wouldnt cover my gas$ to that picket line. I found a side job... that got me thru some weeks but had to move on... I was ill prepared for that strike... I really learned from it. I was early 20s just buying a home dumping all in to get my loan as low as possible and start building back settling on the new exspenses... then Strike!!! F.... But I voted for it... the big reason was for the pension benifit would be removed for any new hire. I was locked in... but It was to create a new divide... and for this company I call bs... they can afford it.. Well by week 3 the ammount of us remaining it was a failed strike... by week 10 I had zero ballance in my bank account... the only thing I could of done was ask my parents for money... which they are non union so nope... lol... I had to cross that line over the lunatic union leaners that tell you to let banks take your cars, or foreclosure on your home... no... I can truly say I gave it my all within reasonable measures... I think only 5 or 6 workers were left when I went in that day and they turned on me like that... i needed to get thru that week with the gas in my tank!! 2 weeks later the strike ended and trials began!!?? OK Im a man Ill man up if I gotta pay back a week or so of pay lets do it... The day 1 guys gonna be Really hurting!!!!

[@renardfranse]

Happened to me as well when I was at CSX Conway Central Express.

[@aday1637]

Ever hear of Sears? Or Bethlehem Steel? Not in business any more but at one time were great places to work and were at or near the top in their field. Taking on too much debt without regard for a downturn in the economy is the kiss of death.

[@mittiejackson3427]

Yelp, Sears and roebuck 😂😂😂

[@CForged]

ABF allows owner operators and they are doing pretty darn good. Back in 2008 Yellow drivers in Chicago that I new said Yellow was ruining everything back then. They then went to Holland and Yellow YRC came and ruined Holland along with Roadway. I tried to get on with Overnight back in 06 and glad I didn’t. LTL freight is a very tough business

[@MachineGod69]

I like the end no one picks up, because no one is there.

[@HonJazzz]

Exactly, I’m glad you enjoyed that part. It’s nostalgic and sad at the same time.

[@MachineGod69]

@@HonJazzz I was at 223 I miss my job..😞

[@HonJazzz]

@@MachineGod69 Yeah it’s sad… I know you will find something good. Stay strong 💪🏻

[@juliewoods6534]

I went to work for the USPS after I got out of the army in 1976. As most postal employees I started out in the craft. There are three big ones and a few smaller ones. I was a member of the letter carries union until I moved on. The contracts did not allow for crossing crafts like you mentioned. That is to solely protect union jobs in a particular craft. It does nothing to help the rate payer who is the one who pays you.

[@akeithwill33088]

Very good perspective. Im yellow terminal 244

[@bobbafett1849]

the workers gave back -$6 BILLION in concessions since 2009. where did it all go? apollo global management

[@columbiarinex9881]

Bro.....we should have had you in the CEO position! FACTS!!!!!!!

[@HonJazzz]

Thank you 🙏

[@Fscottnix]

Why did Yellow fail? Low rates and high operating costs equal LOSSES. Simple.

[@bobbafett1849]

debt, debt, and more debt and bad management for 20 yrs and owned by apollo global management

[@RobE876]

CGB to the 309 Roadway shithole in Sauk Village was like going from the Jetsons to Bedrock !

[@bobbafett1849]

lol yellow ruined roadway and merely added to the carnage for 20 yrs and now it has ruined many lives. way to go bill zollars!

[@princecharming709]

The 700 million doesn’t include the billions they made off of concessions from all the workers for the past 15 years. They played Brewster’s Millions with all of that money just to cry broke in the end.. You got to be blind if you worked there and didn’t see the useless spending first hand.

[@SolarWraith]

It's official, chapter 11 bankruptcy. Great informative vid.

[@HonJazzz]

I’m glad you enjoyed

[@alandavis7736]

I went to work for CF back in 1983 and I have heard yellow was going bankruptcy for as long as I can remember

[@stevenanderson6244]

This is so sad. I just want to cry.

[@HonJazzz]

It is sad. Stay strong my friend 💪🏻

[@mikeskidmore6754]

Trucking Companies and Warehouses are re-locating outside of the old cities where traffic is not so congested ..

[@boazyeshrahla9626]

owners,upper management and supervisors were in Vegas spending all that filthy stimulus money on hoes and liquor. while you, the hard-working truck driver breaks your back to make sure the company looks good...they don't care, and never forget that

[@danvalant3540]

One common denominator for failed LTL companies. Teamsters.

[@bobbafett1849]

Wall St and teamsters since the former owns the latter

[@computerpro123abc]

Cross training is called "Broad Banding" its very common in business today.

[@renardfranse]

CARLSTADT?????? THAT was where I worked at Conway in 2000. Small World!!!!

[@HonJazzz]

Nice 😊

[@renardfranse]

I think that yellow was across the street. I used to stop in and talk to the terminal manager on my breaks. CSX was a non union shop at the time. I did EVERYTHING in that terminal. LOADS of OT at the end of the night we had to batch out all the daily invoices. Then go through the terminal and load all the docks with tomorrow's spec sheets. Then on to OS and D. (damaged freight inspections and reports. It was non stop from 8AM to 6PM or beyond. Great money but DRAINING. I lasted one year. Plus the terminal manager was certifiable. A sour dour nutjob that kept the terminal offices at 50 degrees in the winter. I do remember every day. I am now 75 and look back at this experience and LAUGH. You are one of the most articulate individuals on YT. I hope to God life works out for you in your future endeavors. with our intelligence, I have no doubts you will land on your feet.

[@CForged]

I never went to Yellow since I looked at them in 2013 because they had low hourly wages and it never got better up until today

[@appomattoxross6751]

Typically, you will find expensive pieces of art and furnishings at corporate headquarters.

[@charlottehayward5943]

Nobody has mentioned that Yellow executives decided to move from Kansas City to Nashville high rent district. The KC property was paid for and for ego of ceos they moved to Nashville and had to pay to lease the building. Bad management period.

[@donaldlyons17]

@@charlottehayward5943 Even if they were super cheap they still have to make enough money fast enough to both pay their debts and pay off everything. I know this because I used to live with 3 other and between the 3 of them the other 1/2 the bills were not paid in full each month. And by in full I mean for every $2,400 ($4,800 total) requested to break even I only needed $4,000 to count as in full!!!!! So the problem with many companies is very similar!!!

[@renardfranse]

Trucking firm Yellow is considering a sale of assets and real estate through a bankruptcy filing, which may come as soon as this weekend, Bloomberg News reported on Friday, citing people with knowledge of the situation.

[@computerpro123abc]

Workers and union can buy the company in the bankruptcy court. It will then be an "employee owned company". which is very common.

[@williedenver]

Are you New Penn? I am at 139 formerly 12.Southington ,Ct

[@jonathanwbecker3073]

30 year Driver USF Reddaway this man has got it wright all of it all need to watch this tells story as it is !!!!!!!!!!

[@paulkelly4731]

One thing a driver will never say.... I make a wage that is far above the prevailing wage in the industry and have restrictive work rules that make my company less competitive.

[@stevewillis5692]

Anytime you have high labor prices set in a contract with a union that believes the funding in neverending, plus very high and expensive companies you buy simply because they have a better tech system for bill pay and a recession added to high fuel prices it's easy to predict the future. It's bankruptcy

[@shephusted2714]

bad management - the consumer will end up paying less since the bad company is out of the picture, the employees will get the same job with competitors that fill the void - they will make less and work more

[@JofoTubin]

I recently went round and round with the Atlanta terminal getting some vending machines delivered to a laundromat we own so that hold music triggered me a little bit. LOL. Man, to be honest, it sounds like a decent company to work for. I mean, I wouldn't expect everyone to love it because...it's work. But it sounds a helluva lot better than most people's jobs. Which makes me wonder...dafuq was the union crying about? I think it was that strike threat that made customers run for the hills and put the final nail in the coffin.

[@navyvet4935]

The union was not crying. What this guy did not mention was that in 2008-09 the company came to the union begging the union to take pay cuts. So we took a 15% pay cut ,a 75% reduction in retirement benefits and much more over the years to help the company. So after being the lowest paid LTL company since 2009, the union said the workers will not give the company anymore. After making millions of dollars in profits and paying their executives millions in bonuses. All we wanted was to get back what the union gave up to help the company.

[@JofoTubin]

@@navyvet4935 Welp, how'd that work out for ya, shipmate? How much did you get back?

[@CurtJackson-w3x]

Them Yellow trailers gonna look good as storage trailers

[@bobbafett1849]

Wall St strikes again! Thank you Apollo Global Management

[@columbiarinex9881]

They did this to themselves! Greed is a bitch and the workers suffered. Debt + more debt =alot of more debt! Just poor management. They got bonuses and new made up job titles to run the company and the workers did not get a decent raise since the pay cut! Just a terrible situation for families who appreciated a good paying job with the teamsters!

[@donaldlyons17]

Sounds like they were cheaper than anyone else in hauling so not sure where the money was supposed to come from if they are both cheap and buying stuff too? I don't think many companies operate on cash made in excess...... Many of us normal people buy stuff on credit too so we need incomes that can support the total prices and as we all know everyone can't outpace those past expenders.

[@bobbafett1849]

Read "Yellow Freight and Apollo Global Management: What Are Workers Up Against?" by Alex Findijs and learn how its merely CF 2.0 29 yr Roadway heritage 422

[@sbrazenor2]

So the short answer was that the leadership was trying to make the company more efficient and have it operate like its profitable peers. (Cross training and cross utilizing employees.) That could have made some less-senior employees redundant, which may have caused lay-offs. The union guys decided to dig their feet into the ground and instead just crash the entire company right into the ground at full speed. 🤔 Meanwhile, they talk about managerial incompetence, but when the company tries to make a pragmatic managerial choice, the union ties their hands and smothers them. Really smart! 😁👍

[@morganj1130]

I see you missed the part about Yellow buying Roadway and it's affiliates in the early 2000's. If Yellow Freight was going broke because of the union, why did they buy Roadway for 1.1 BILLION DOLLARS in 2003. Why in 2005 did they also buy USF for 1.47 BILLION DOLLARS. Moreover the bought a Chinese carrier in 2007. I was unable to determine holmuch Yellow paid for that company, but I'm guessing MILLIONS at least. Spending billions does not seem like the actions of a company that is broke. However if the company was going broke, then spending BILLIONS certainly is the action of poor management decision. Point is Yellow's CEO and company made those decisions. Not the Union.

[@sbrazenor2]

@@morganj1130 they were buying on credit.

[@morganj1130]

@@sbrazenor2 credit involves payments which decreases your available cash. Moreover taking on debt discourages investors, decreasing the value of your stock. Going billions of dollars into debt has consequences.

[@bobbafett1849]

lol bullshit, 2 hedge funds ran the co for 20 yrs and have desired to get rid of union workers longer than that. why else add more and more market share by putting it on the credit card? to use as leverage to collapse the company, get rid of the union and return as another company. Wall St did this same thing to another union freight line, Consolidated Freightways became Con-Way

[@raymondmiller2538]

The Bottom is......YA BIT OFF MORE THAN YOU COULD CHEW DEPT IS A KILLER...

[@jonathanwbecker3073]

They refused to listen to anyone. 30 year Employee Reddaway.

[@HonJazzz]

Carry on and stay strong my friend

[@jonathanwbecker3073]

Can't do anything else won't give up not in drivers DNA.

[@basehappe]

The teanster should buy the company and run it has co-op. They would make so much more money then previous management.

[@HonJazzz]

That would be incredible. We’ll see what happens

[@TheTongMan]

If pensions are secured, why are workers worried about losing their pensions when Yellow collapsed?

[@donaldlyons17]

Well if the company goes bust or gets bought out part of the buyout is that everything the old company offered is now void!!!!! It is like buying a car any old agreement dies with the new owner takes over!!!

[@bobbafett1849]

older workers nearing retirement with health issues are fucked. cant get a job and cant yet get pension without heavy penalty

[@bobbafett1849]

apollo global management just kicked 50,000 American workers out of the Middle Class simply for *greed*

[@TheTongMan]

@@donaldlyons17 then pensions aren’t secured

[@bobbafett1849]

​@@TheTongMan pension fund isnt connected to yellow but overseen by the union

[@anbraxas]

That's the only thing I will miss about Yellow is the healthcare.

[@HonJazzz]

Yes that had excellent coverage

[@mittiejackson3427]

Every company is taking your pension and adding more years that you have to work before you retire and your kids find a job they will have to work till they die on the job sad sad sad.

[@HonJazzz]

Yup… things seem to be moving backwards

[@ronniebarber8938]

This guy has drank the Kool-aid...

[@ByrdmanTrucker]

They where 1.5 billion in debt. You can't keep that going forever

[@mplsmark222]

exorbitant, the word you should have used. The word you used; Exuberant; filled with or characterized by a lively energy and excitement. "giddily exuberant crowds"

[@HonJazzz]

Yes, good catch

[@23steph13]

I heard they did alot of layoffs in 2020??

[@brianhelmick2558]

Like I said not one union has ever did the right thing. Union executives get rich the company goes bankrupt.

[@dannystranahan1004]

So instead of learning multiple different trades within your job and be more marketable for your company and more valuable. You guys decided to stand strong with a Union and thirty thousand people lost their jobs. O k I get it now.

[@RobE876]

You conveniently forgot about the 10% giveback for 18 months than another giveback of 5% totaling 15% that never ended 14 yrs of giveback in weekly pay & Than Just stop paying into the pension fund at 100 % to just 25% Yellow Yrc One Yellow Just pay us our WARN ACT 💰

[@GregO-uj8jt]

Is a shame that management did not see the value of their employees. Get rid of yellow management and bring back roadway management and this company will survive. Sorry folks you guys are toasted this company nail it’s own coffin for themselves and their employees. It’s like trying to raise the dead. Just move on with your life sorry for your loss long live Roadway. big R.

[@Leo-z1v]

This is the transitional phase to EV rigs. More to come

[@HonJazzz]

Maybe even autonomous… which is worse

[@computerpro123abc]

Union and employees had choice give back(10%) OR Bankruptcy: They chose Bankruptcy(stop crying about it)

[@brandondavis233]

Do you think they’ll come back to business?

[@HonJazzz]

It’s possible someone could buy them and merge, but I don’t think they’ll come back the same way they were.

[@WilliamLeonard-f9o]

Wages and benifits wasnt what caused the financial debacle.

[@Fr1ti4e88]

I didn’t know how to feel about this until you started talking about gays and diversity I’m glad to see it fail

[@HonJazzz]

America is the land of opportunity, and if I gay guy wants to drive a truck, why shouldn’t he? If a woman wants to be a manager, why shouldn’t they get hired if they are fit for the job? I’m all about equal opportunities and rewarding people who work hard, regardless of what they look like. Let freedom ring 🇺🇸 🦅

[@Robert-oe3ig]

That sounds real intelligent

[@computerpro123abc]

fedx, ups and independant truckers will absorb yellows customers and some drivers.

[@frankhannon8001]

In 2009 we had 59 thousand

[@belldn3]

That money went to the BOARD'S POCKETS!

[@HonJazzz]

😡

[@bobbafett1849]

to apollo global management to be precise

[@renardfranse]

OK I have another name for you. Remember RUPP Southern Tier?????

[@davidndianna]

Come work for OD but we don’t want union workers

[@ManaBDew]

At a glance years back when I was a dock freight manager for a company we depend on yellow and, I’m a professional Artist especially when it comes to color I’m just saying that Orange 🍊 Isn’t YELLOW 😂

[@HonJazzz]

Yeah apparently it’s based off of a Swamp Holley that has bright orange berries.

[@0fficialdregs]

i was all for the video until i heard black rock. yikes

[@computerpro123abc]

Bail out dont work: 700 million down the drain(Money Gotten because of the teamsters political pull).

[@RedRedred-ld4pb]

Evil union put yellow out of business.

[@bobbafett1849]

wall st did

[@RedRedred-ld4pb]

@bobbafett1849 evil union put yellow out of business.they might get a job at burger King.

[@carlos-ik1pc]

unions gutted this great company, union drivers milk the clock, i see them all the time sleeping in their day cab after my warhouse close for the day

[@bobbafett1849]

nope, apollo global management milked the workers out of ~$6 BILLION the past 14 yrs

[@StonedMexicanGuy]

So long story short, drivers wanted to be lazy .

[@MoeLarrycurly1]

😮😮😮

[@HonJazzz]

😮

[@vicmed6088]

Yellow is just tired of unions and teamsters, that’s just the bottom line, unions and teamsters are trash, people just don’t see it!

[@SlickRickDownSouth]

Teamsters just got UPS drivers $50 a hour.

[@brandontuck2725]

One word..Biden

[@bobbafett1849]

two words: Wall St

[@ranstan814]

🤮

[@waynewilson933]

If you wanted to be the CEO you should have started your own company and then you wouldn’t have had to depend on yellow.

[@CurtJackson-w3x]

Them Yellow trailers gonna look good as storage trailers