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10 • SEPTEMBER 2023 THE NATION<br />

Thetrucker.com<br />

Great Pay, Full Benefits & Bonuses!<br />

Nebraska Atlantic Transportation, Inc. is a family-owned &<br />

operated company that has been in business for over 30 years.<br />

It is our goal to make you feel like you are part of the family<br />

and are treated as such. High miles and good pay are what we<br />

strive to provide our drivers. We offer an in-house mechanic<br />

shop, weigh scale & fuel tank, and our drivers’ lounge features<br />

a rec room with a pool table, mounted TVs, a separate TV room,<br />

washer & dryer, a full kitchen, and furnished bedrooms. Call or<br />

apply and join our family today!<br />

★ $0.60 Per Mile<br />

★ Cell Phone Reimbursements<br />

★ Unloading Paid in Full<br />

★ $40 Extra Stop/Pick-Up<br />

★ Yearly Bonuses<br />

★ Full Health Insurance<br />

★ Full Life Insurance<br />

★ Home Weekly<br />

★ Driver Apartment w/Washer<br />

& Dryer, Stocked Kitchen,<br />

Large Screen TVs & Pool<br />

Table<br />

YELLOW cont. from Page 1<br />

noting that customers had already started<br />

to leave Yellow in large numbers and that<br />

the carrier had stopped freight pickups.<br />

Those reports arrived just days after<br />

Yellow averted a strike by the Teamsters<br />

union amid heated contract negotiations.<br />

A pension fund agreed to extend health<br />

benefits for workers at two Yellow operating<br />

companies, avoiding a planned walkout<br />

and giving Yellow “30 days to pay its bills”<br />

— notably a total of $50 million owed to the<br />

Central States Health and Welfare Fund.<br />

Yellow blamed the nine-month talks with<br />

Teamsters for the company’s demise, saying<br />

it was unable to institute a new business<br />

plan to modernize operations and make it<br />

more competitive during that time.<br />

The Chapter 11 bankruptcy, filed Aug. 6,<br />

came just three years after Yellow received<br />

$700 million in COVID-19 pandemic-era<br />

loans from the federal government.<br />

While a Chapter 11 filing is used to<br />

restructure debt while operations continue,<br />

Yellow, like other trucking companies in<br />

recent years, will liquidate — and the U.S.<br />

will join other creditors unlikely to recover<br />

funds extended to the company.<br />

In 2019, two trucking companies, Celadon<br />

and New England Motor Freight, filed for<br />

bankruptcy protection and liquidated.<br />

According to reports, Yellow fell into<br />

severe financial stress after a long stretch of<br />

poor management and strategic decisions<br />

dating back decades.<br />

Former Yellow customers and shippers<br />

may face higher prices as they take their<br />

business to competitors, including FedEx or<br />

ABF Freight, experts say, noting that Yellow<br />

historically offered the cheapest price<br />

points in the industry.<br />

Yellow, formerly known as YRC Worldwide<br />

Inc., was one of the nation’s largest LTL<br />

carriers. The Nashville, Tennessee-based<br />

company had 30,000 employees across the<br />

Firefighters rescue piglets<br />

country.<br />

The company says it has asked the<br />

U.S. Bankruptcy Court in Delaware for<br />

permission to make payments, including<br />

for employee wages and benefits, taxes and<br />

certain vendors essential to its businesses.<br />

Yellow has racked up hefty bills over the<br />

years. As of late March, the carrier had an<br />

outstanding debt of about $1.5 billion. Of<br />

that, $729.2 million was owed to the federal<br />

government.<br />

In 2020, under the Trump administration,<br />

the Treasury Department granted the<br />

company a $700 million COVID-era loan on<br />

national security grounds. The Teamsters<br />

supported the $700 million loan when it was<br />

first announced.<br />

A congressional probe recently concluded<br />

the Treasury and Defense departments<br />

“made missteps” in the decision and noted<br />

that Yellow’s “precarious financial position<br />

at the time of the loan, and continued<br />

struggles, expose taxpayers to a significant<br />

risk of loss.”<br />

As of June 30, Yellow had paid $67 million<br />

in cash interest on the loan, the balance of<br />

which is due in 2024, the company said.<br />

The financial chaos at Yellow “is<br />

probably two decades in the making,” Stifel<br />

research director Bruce Chan said ahead of<br />

Yellow’s bankruptcy filing, pointing to poor<br />

management and strategic decisions dating<br />

back to the early 2000s. “At this point, after<br />

each party has bailed them out so many<br />

times, there is a limited appetite to do that<br />

anymore.”<br />

Yellow CEO Darren Hawkins summed<br />

up his company’s demise in a short news<br />

release:<br />

“It is with profound disappointment that<br />

Yellow announces that it is closing after<br />

nearly 100 years in business,” Hawkins said.<br />

“For generations, Yellow provided hundreds<br />

of thousands of Americans with solid, goodpaying<br />

jobs and fulfilling careers.”<br />

The Associated Press contributed to this<br />

report. 8<br />

Overland Park Fire Department<br />

REQUIREMENTS<br />

★ CDL-A<br />

★ 24 years old<br />

minimum<br />

★ Two years OTR<br />

experience<br />

888.858.8217<br />

www.thetrucker.com/nebraska-atlantic<br />

Kansas firefighters helped save the lives of hundreds of piglets after the tractor-trailer they were being hauled in<br />

broke down in sweltering heat last month. Because the truck was stalled, there was no way to circulate adequate air<br />

through the stock trailer. Firefighters from Overland Park, Kansas, firefighters were called to U.S. Highway 69 after<br />

being told the animals wouldn’t survive without ventilation or water. Emergency crews immediately began hosing<br />

down the trailer, allowing the piglets to stay cool until the truck could be fixed. According to firefighters, the driver<br />

of the truck exclaimed, “You saved 1,368 lives today!”

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