Yellow Corp. announced it has reached a settlement with the Defense Department, which claimed it was overcharged by the less-than-truckload carrier for years.
A Democrat-led committee investigating Yellow’s $700 million Treasury loan suggests the Trump administration was involved in the approval process.
New Penn is an LTL carrier focused on the Northeastern U.S. It is now part of YRC Worldwide. Read about its history in this FreightWaves Haul of Fame article.
The latest report from the congressional oversight commission monitoring COVID relief loans shows Yellow Corp. may not have been as “critical to maintaining national security” as once thought. The report also calls into question the company’s increased spend on lobbying efforts ahead of the loan.
The Defense Department lawsuit from 2018 is continuing even as the federal government has taken a stake in the LTL carrier.
The Teamsters’ Central States Pension Fund could be saved through the COVID-19 relief package.
Yellow Corp. is back. The holding company formerly known as YRC Worldwide has gone back to its roots. However, fourth-quarter results missed analysts’ expectations at a net loss of 37 cents per share.
YRC announced Monday the further expansion of its regional next-day service at YRC Freight. This rollout will make the service available out of 13 terminals throughout the mid-Atlantic.
The latest request from the congressional commission overseeing COVID-relief loans seeks pricing information from the Defense Department for all less-than-truckload shipments, including those performed by YRC Worldwide.
Deutsche Bank’s December geofencing data suggests LTL volumes continued the positive trends seen in the first two months of the fourth quarter.
