99-year old trucking company Yellow shuts down, putting 30k out of work
&quot;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.&quot;<p>Perhaps they shouldn&#x27;t have offered the cheapest rates in the trucking sector while failing their obligations.<p>Taxpayers ended up holding 30% of this company&#x27;s stock and they still couldn&#x27;t figure out how to become profitable after a $700 million infusion?<p>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&#x27;t compete directly on price make up for it in service and reputation.<p>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.