Posts tagged bankruptcy
Spirit Airlines unions agree to pay cuts for flight attendants, pilots
November 19, 2025 // The Air Line Pilots Association said it has agreed to Spirit's plans to reduce hourly pay by 8% and slash its retirement account contributions by half from 16% to 8%. The amended collective bargaining agreement will last from the beginning of 2026 through the end of 2027. The airline agreed to incrementally restore the pilots' pay starting in August 2028 with a 4% raise and then another 4% in January 2029. Retirement contributions will return to 16% by July 2029.
Revived Lawsuit Could Hold Teamsters Accountable for Yellow Trucking’s Bankruptcy
November 17, 2025 // Teamsters President Sean O’Brien called Yellow’s CEO a “greedy piece of sh*t,” and spent the company’s last days sending him insulting and childish text messages – even though the jobs of 22,000 Teamsters hung in the balance.
Op-ed: The Bad Teamsters Bargain With UPS
October 30, 2025 // Businesses that lose money and are uncompetitive won’t survive. See trucking company Yellow Corp., which filed for bankruptcy in 2023 in part owing to Mr. O’Brien’s labor militancy. Mr. O’Brien refused concessions and tweeted an image of a tombstone “Yellow: 1924-2023.” UPS doesn’t want to be Mr. O’Brien’s next victim. The Teamsters boss has insisted that its contract requires UPS to create 30,000 jobs. He hasn’t read the fine print—or is misleading his members. UPS merely committed to giving part-time employees a chance to apply for some full-time job openings. If UPS reduces job openings, workers don’t have an opportunity to fill them.
Opinion: Hochul must shame LIRR unions —by revealing their outrageous strike demands
September 15, 2025 // The agency’s overtime spending regularly stands out by national standards (only periodically rivaled by the MTA’s other big rail outfit, Metro-North, which is stuck operating under the federal law that governs the LIRR). LIRR employees in 2023 made an average of more than $26,000 each in overtime alone.
Holy Family Hospital’s Allied Health Professionals Consider Union
June 12, 2025 // Markman said the hospital’s human resources department sent a flier to those eligible to vote seeking to undermine the unionizing campaign. The flier, “Collective Bargaining Union Promises vs. the Facts,” says that unions make promises they have no power to enforce. “Under a union contract, you could end of with the same, more or less than you have now,” it reads. Markman said the nurses union is evaluating whether the flier rises to the level of an unfair labor practice. In the meantime, the union countered with its own flier.
Foreign aid freeze results in mass layoffs that could ‘crash’ the industry
February 5, 2025 // The U.S. is the largest provider of humanitarian assistance globally, deploying billions of dollars through multiple agencies, including the U.S. Agency for International Development. The majority of USAID’s funds are awarded competitively through contracts, grants or cooperative agreements with international development groups and private federal contractors.
Postal chief brags of 100% union ‘comrades’ as bankruptcy nears
November 19, 2024 // The agency reported on Thursday a loss of $9.5 billion, $3 billion more than last year. Reuters reported that in a statement about its restructuring plan, USPS said, "If we do nothing more, we remain on the path to either a government bailout or the end of this great organization as we know it."
Commentary: 20 Years Later, Orange County is Still Dealing with ‘Legalized Corruption’
October 16, 2024 // Tom was not alone, of course. Too many of California’s 58 county boards of supervisors and 482 cities’ council members did – and still do – the same thing. And the liabilities are reflected when you review their annual comprehensive financial report rankings provided on the California Policy Center website. The lesson for voters is to elect individuals who have financial literacy, follow sound advice from accountants and actuaries, and emphasize timely transparency. Regretfully, too many are beholden to self-interested public employee union leaders who helped get them elected to their positions. And the annual comprehensive financial reports provide the accountability of the actions of prior elected officials. The impact of Wilson’s two votes will linger for decades.
Yellow Found Liable for $6.5 Billion in Pension Claims
September 20, 2024 // Earlier this month, Goldblatt ruled that Teamsters president Sean O'Brien could be deposed regarding the leadup to Yellow's bankruptcy, which could be a factor in whether the estate must pay up the class-action claims. According to Yellow, letters and conversations between O'Brien and former Yellow CEO Darren Hawkins show that the trucking company had a reasonable basis to believe it could prove that the company is not liable for the WARN Act claims. The Teamsters represented 22,000 of Yellow's roughly 30,000 employees when the company went under, with both parties blaming the other for the logistics firm's demise.
Huge shipping company shuts down and files Chapter 7 bankruptcy
July 10, 2024 // A review of the Texas Workforce Commission website shows that U.S. Logistics Solutions did not file a 60-day notice to employees that's required under the Worker Adjustments and Retraining Notification Act for companies with more than 100 employees. Failure to file the notice led a former employee on June 24 to file a class-action adversary proceeding complaint in the U.S. Bankruptcy Court against the debtor. The Charlotte, N.C.-based private equity firm in a statement said that all of the shipping company's employees had received their final paychecks, according to FreightWaves.