April 16 - Yellow's journey to YRC and back

YRC orders 950 trailers, 300 tractors to replace aging fleet; YRC says new trucks will help with safety, operating ratio; After 100 years and a loan, YRC readies for another long run; YRC gets $700M CARES Act loan, Treasury takes 30% stake in carrier View online | Signup | Forward

Daily Dive April​ 16,​ 2021 | Today's news and insights for transport leaders Note from the editor Yellow's No. 1 priority is hiring, CEO Darren Hawkins said in an announcement about this week's job fair. The company is seeking thousands of employees by the end of the year. But Yellow hasn't always been in expansion mode. Less than a year ago, then-YRC was on the brink of collapse. Analysts thought operations could wind down by July 4, 2020 — until salvation came, in the form of a $700 million loan. In today's newsletter, we're taking a closer look at Yellow. Senior Reporter Jim Stinson tells the tale of Yellow/YRC, in a company profile that I'm proud to announce won a regional gold award from the American Society of Business Publication Editors. If you haven't had a chance to read it yet, I highly recommend this story of growth and loss, of struggle and survival. Here's the article. Thanks for reading, and have a great weekend. Shefali Kapadia Senior Editor, Transport Dive Twitter | Email Was this email forwarded to you? Sign up here. Yellow, formerly YRC, says driver shortage cuts into profits The LTL will try to convert box-truck drivers and dock workers to Class 8 drivers to bulk recruitment, alongside bonuses, higher pay and more schools. YRC orders 950 trailers, 300 tractors to replace aging fleet The LTL firm has spent about 10% of its $700 million federal government loan on equipment. YRC says new trucks will help with safety, operating ratio In its first earnings call since getting a federal loan, the LTL giant said increasing efficiencies in fleet operations would help it return to profitability. After 100 years and a loan, YRC readies for another long run The LTL carrier, whose continued survival has perplexed analysts, escapes the jaws of dissolution once again. UPDATED YRC gets $700M CARES Act loan, Treasury takes 30% stake in carrier The loan issuance follows quarters of financial struggles for the carrier, and the funds will go toward pension funds, employee healthcare and capital investments.  Read more news What We're Reading Construction Dive White House identifies the 7 worst states for infrastructure CDLLife Truckers ignoring closure of a popular trucking shortcut, causing headaches for residents, authorities & drivers VentureBeat Autonomous trucking company Plus will use AI and billions of miles of data to train self-driving semis FleetOwner J&J vaccine on hold: What it means for truck drivers Payments Dive Business spend management tools gain traction during the pandemic Suggest a story we should read Company Announcements Press releases from companies in your industry. Logisyn Represents GFE in Sale to Allstates WorldCargo Press release from Logisyn Advisors J. J. Keller Survey Reveals the State of Fleet Management Press release from J. J. Keller & Associates, Inc. Post a press release Dive Into a Topic Technology Regulatory Workforce Safety Operations Equipment Infrastructure Share Transport Dive: Daily Dive with others and get rewarded. You've referred 0 readers. To become an official Dive Insider, just successfully refer 10 contacts to Transport Dive: Daily Dive. Here's your link to share: https://www.transportdive.com/signup/insiders/?signup_referred_by=5f93078d7aa51972095c9316

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