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The CARES Act Congressional Oversight Commission said in its final report on the loan that Yellow should not have qualified as a “business critical to maintaining national security.”
Yellow has suffered from financial mediocrity that has led to the inevitable outcome. The post Yellow is a zombie company — it’s time to let it go appeared first on FreightWaves.
Also: Cumberland University, Leadership Middle Tennessee announce updates
Yellow, which transported half of its shipments to retailers last year, is suing the Teamsters for preventing a company restructuring.
The century-old trucking corporation is accusing the union of breaching its contract and blocking Yellow's efforts to modernize its business.