FreightWaves founder and CEO Craig Fuller discusses Yellow filing for bankruptcy after restructuring standoff with Teamsters union.
Subscribe to Fox Business! https://bit.ly/2D9Cdse
Watch more Fox Business Video: https://video.foxbusiness.com
Watch Fox Business Network Live: http://www.foxnewsgo.com/
FOX Business Network (FBN) is a financial news channel delivering real-time information across all platforms that impact both Main Street and Wall Street. Headquartered in New York — the business capital of the world — FBN launched in October 2007 and is one of the leading business networks on television, having topped CNBC in Business Day viewers for the second consecutive year in 2018. The network is available in nearly 80 million homes in all markets across the United States. Owned by FOX Corporation, FBN is a unit of FOX News Media and has bureaus in Chicago, Los Angeles, and Washington, D.C.
Follow Fox Business on Facebook: https://www.facebook.com/FoxBusiness
Follow Fox Business on Twitter: https://twitter.com/foxbusiness
Follow Fox Business on Instagram: https://www.instagram.com/foxbusiness/
source
Union greed killed the proverbial golden goose. Now 300000 people lost their jobs!
Only in America does a company fail and Fox blames the employees
Technology to much of it in trucking cost per unit going up just opinion when your forced by regulation to do business a certain way
Her voice is annoying
The teamsters are a shell of their former selves. Yellow was severely mismanaged. $700 million bailout 2 years ago and they somehow fail. The bigger issue is how truck drivers are treated today. I’m one of the lucky local drivers that goes home daily and gets OT but not til after 45 hrs. The deregulation of trucking ruined the industry and destroyed one of the best routes to middle class in America.
Unions are not needed since laws are intact after. Unions they promote lazy work and good Ole boy syndromes
I would never work in a union job. The Teamsters cheated my father out of his pension, his U.S. Rep would no lift a finger to help. He was bought by the Teamsters. Fellow drivers had the same problem when they tried to retire. It was the CORRUPT Teamsters in Buffalo, N.Y. All UNIONS steal from the workers pension fund, they call it MANAGEMENT and CONSULTING FEES. CRIMINAL BASTURDS!!!!!! 🤔💩😠🤡👿😯😲😠💩💩💩💩
Get rid of ALL unions. They're greedy bastards who make the cost of everything twice as much as it should be.
Hiring Mexicans…cheep and accident prone, go for it.
Yes now the company can force drivers to drive trucks with faulty brakes and shove the responsibility for accidents on them. Take that liberals!
So what he just said folks pensions after they retire aren't important to help them after and its the Union who has to pay that and YOU don't deserve their bailout but 1 man gets 700 million and Union is the devil go figure
Too much information here but All who do Trucking know Yellow Trucking took that bailout & trying to hide the profits & just think a 100 yr old company goes out of business over the weekend hey do the Fox Business math
Trucking is the secret society & don't want many but be like them in it,this wasn't a Union issue its a Trucking company +hopes it tells Americans today AT the end you will need a Union pension & retirement because Billion dollar businesses will shut down on you & they need to start paying up even after running for bankruptcy & showing up in other stocks later
Yes because cheap Mexican freight companies and illegals are taking away our driving jobs!!
And the union higer ups said: "Let them eat cake."
Pay them dues and out of a job because the union wanted more money.
Unions are bad for the working man. They provide nothing while dipping their hands in your pocket like you owe them something for your hard work. Theres no honor or loyalty in unions. Im a pipefitter and union reps are always approaching me trying to hire me. They offer the moon and stars but after they get the three weeks they need out of you they lay you off. In my experience, the type of guys you work with are lazy and deceitful. They always talk like theyre the best thing since sliced bread but can never keep up with me.
Well workers think they the one who run the company but without companies they dont have job and salary to run in begin with. Now wonder if those company comeback with new name and auto pilot trucks.
Fuel prices doesn’t help. We also need an another administration in Washington. Republican to be more specific.
The company has been trying to scrap their union employees since about 1990'
The teamsters regulate the trucking industry. Without us you would be making pennies
The Union(teamsters)are screwing things up here at the ports of LA/LB,they have decide to not work 8/3/23 Thursday cause of there union "meetings", now the rest of us drivers are going to loose a day worth of pay. Soon the whole terminals will be automated and they wont need the teamsters anymore. They(union)are going to screw there self's and will be crying why they are not needed anymore.
It's what the big companies that use the shipping companies want, they'll just increase more foreigners that will live in the truck and work for nothing so it's a win for the companies who ship their products, and then wonder why Americans Don't have the money to buy The things they make
It’s impressive they lasted so long with the cancer that is labor unions.
Why is everyone so worried about losing a job when the biden administration states that there are 2.5 jobs per person and creating 400,000 jobs a month. Hell, I'd look forward to getting fired.
Several years ago YRC and the Teamsters agreed on a reduced rate to be paid to the pension fund. Even at the reduced rate the company was making 50 million dollar payments to the union ! You can't transport discounted freight and pay 50 million dollar payments to the union. They were saddled with the union insurance company and not able to access the free market for the best insurance value. Unions strangler companies. I wonder how the rank and file keep the dirt out of their ears when their head is in the sand.
Unbelievable BS. Pore management and hight debts similar to the banking collapses are behind the bankruptcy not the unions. Can you blame bank failures on employee's making too much money.
They can pay less without unions!
If your company is called Yellow, your trucks should not be orange.
I'm an old timer myself and I can confirm that Joe Biden was indeed a professional truck driver. One of the best, I might add. He worked for Corn Pop Express out of Delaware. His CB handle was "Dildo Joe". He was also an expert diesel mechanic.
Keep voting democrat and you’ll get just what you deserve. Nuff said
i bet all the Yellow drivers that joined the union wish they hadn't
The jobs aren’t gone, they have relocated to different businesses.
Want to know why there’s always shortsges of drivers?
Imagine working for an employer that keeps you from home. You might get 36hrs off on days where you’re wife and kids aren’t home because of work and school.
You have to take off at least two to three days of work just to visit a doctor, but you only are permitted 3 personal days a year to accomplish that.
You work 60-80 hours a week but get paid as if you’re working 40.
You get a week or maybe two of vacation, but rarely get the time when you can take a family on vacation.
Desperation might get you to take such a job, but you’ll quit pretty quickly or you’ll get fired first time you get really sick or need to go home.
Guys it's Fox Business, they aren't going to blame anyone but labor.
Most of the problem is brokers the put the loads on cheap and in Yellow’s position they could not drop their rates because they would loose money. They have faced high fuel costs and truck and trailer parts are way up. And here are the unions always wanting more money. It will be interesting if John Deere can keep it together eventually the farmers won’t be able to afford the over priced equipment and the unions pushed for wage increases and with the emissions the equipment is junk..
Debt should be illegal. Especially anything over 1 million
Worked for Yellow. You just have to find another. Not fun.
Yellow sucks…….. but so do lazy union workers always asking for more more more!
This is false the teamsters gave yellow a huge break in pension contributions and the pay was lowered
William zollars
Track that money
The employees should have had a vote like we had in 2008, I voted no but the majority voted for it, now 34 years of busting my butt and not even a letter for unemployment, it’s devastating 😢 I’m 61 and have no prospects of getting a job with a mortgage and car payment etc. all I can do is pray 😅
AUTOMATION TRUCKING
the world will move away from unions … The rates for teamsters are unrealistic vs owner operator
Clearly, unions are great for business. Every work place should unionize in order to bring down the business.