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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 />
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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!”