Posts tagged Sophie Mann
Trucking giant Yellow shuts down: The 99-year-old company which has almost 30,000 staff and 12,000 big-rigs ceases operations immediately
July 31, 2023 // Yellow is saddled with some $1.5 billion in debt as of late March, including $729.2 million owed to the federal government for a controversial pandemic-era loan the Treasury Department extended on national security grounds in 2020. A June 2023 congressional report concluded the Treasury Department dodged its own policies to issue the loan and the previous administration had made a mistake in doing so. In May, Yellow reported a loss of $54.6 million, a decline of $1.06 per share, for its first quarter of 2023. Operating revenue was about $1.16 billion in the period.