"The closing is bad news not only for its employees and its customers, who generally used Yellow because it offered some of the cheapest rates in the trucking sector."
Perhaps they shouldn't have offered the cheapest rates in the trucking sector while failing their obligations.
Taxpayers ended up holding 30% of this company's stock and they still couldn't figure out how to become profitable after a $700 million infusion?
This race-to-the-bottom stuff is not the answer. The answer is to charge what it costs you to deliver plus a profit. If you can't compete directly on price make up for it in service and reputation.
People will blame unions because the company had to fund pensions and health insurance. It likely will come back as a private company with lower pay, worse benefits, and maybe if people are lucky a 401k.
Perhaps they shouldn't have offered the cheapest rates in the trucking sector while failing their obligations.
Taxpayers ended up holding 30% of this company's stock and they still couldn't figure out how to become profitable after a $700 million infusion?
This race-to-the-bottom stuff is not the answer. The answer is to charge what it costs you to deliver plus a profit. If you can't compete directly on price make up for it in service and reputation.
People will blame unions because the company had to fund pensions and health insurance. It likely will come back as a private company with lower pay, worse benefits, and maybe if people are lucky a 401k.