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<blockquote data-quote="bacha29" data-source="post: 5638022" data-attributes="member: 58386"><p>By and large it's too late now to do anything to save Yellow. IBT had to make concessions in an effort to save Preston but in the end it didn't matter.</p><p>If in the highly likely event Yellow files it will first file for Chapter 11 reorganization but I expect that attorney's for the Treasury Department will ask for a refiling under Chapter 7 total liquidation in an effort to recoup as much of the public's money as possible. Even more so if it's granted Class 1 creditor status.</p><p></p><p>This is something that happens all the time in the industry. Every time it gets to a point where there's too many carriers and not enough freight the industry undergoes a consolidation. </p><p></p><p>Given that Yellow drivers will be scarfed up quickly by other carriers the concessions Yellow demands may come to the point where Yellow drivers would make more money going to work for somebody else.</p><p></p><p>Furthermore, if this package of concessions were made how long will it be until Yellow is back demanding even more?</p><p></p><p>In a related piece of news I learned today that Fat Freddy and Raj the Jackal have put shipping quota limits on the volume of existing accounts. What's even more interesting and this is good news for the brown shirts, reports coming out saying that Fats and Raj have told shippers who do not have FDX accounts that in order for FDX to pick up their junk they first have to sign long term service contracts with FDX.</p><p></p><p>If true then that should be music to the ears of the IBT.</p></blockquote><p></p>
[QUOTE="bacha29, post: 5638022, member: 58386"] By and large it's too late now to do anything to save Yellow. IBT had to make concessions in an effort to save Preston but in the end it didn't matter. If in the highly likely event Yellow files it will first file for Chapter 11 reorganization but I expect that attorney's for the Treasury Department will ask for a refiling under Chapter 7 total liquidation in an effort to recoup as much of the public's money as possible. Even more so if it's granted Class 1 creditor status. This is something that happens all the time in the industry. Every time it gets to a point where there's too many carriers and not enough freight the industry undergoes a consolidation. Given that Yellow drivers will be scarfed up quickly by other carriers the concessions Yellow demands may come to the point where Yellow drivers would make more money going to work for somebody else. Furthermore, if this package of concessions were made how long will it be until Yellow is back demanding even more? In a related piece of news I learned today that Fat Freddy and Raj the Jackal have put shipping quota limits on the volume of existing accounts. What's even more interesting and this is good news for the brown shirts, reports coming out saying that Fats and Raj have told shippers who do not have FDX accounts that in order for FDX to pick up their junk they first have to sign long term service contracts with FDX. If true then that should be music to the ears of the IBT. [/QUOTE]
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