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2023-08-01 Economy
Yellow Freight Company joins Montgomery Wards and Studebaker
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Posted by Besoeker 2023-08-01 03:51|| E-Mail|| Front Page|| [11126 views ]  Top

#1 QUESTION
Has the Union become a Kiss of Death to US industry and companies?

Sure, I'd be the 1st to agree it was needed during the industrial revolution period into the maybe the 1960's. Given various Robber Barons ROI approaches.

Yes, It was needed, and it yes served as a great promoter of safer working conditions and labor laws, that we use with or without a unionized company today.

But, in the last 50 years, its always increasing demands have created NAFTA and so much Gov. Regulation and Reporting. Which has resulted in 100's of major companies to seek production of products in countries where unions have little say.

Where company can produce and sell a product at a consumer acceptable price and still show a viable R.O.I.to investors.

All of which resulted in US unionized and Non-Union companies going overseas to avoid Unions, unionization or Federal red tape. Which resulted a mass US job declined and Union decline membership since 1960 has dropped by about 60+/-%

Add to this, the unions chiefs seem to donate a lot of the Rank and File dues ($1.8 to $2 Billion $$$$$$ (OpenSecrets) ) mainly to LSD's pockets. Money that should have gone to its members retirement funds and benefits.


Posted by NN2N1 2023-08-01 05:53||   2023-08-01 05:53|| Front Page Top

#2 Both corporations and unions need to face new fiduciary responsibility and accountability laws.
Posted by Procopius2k 2023-08-01 07:41||   2023-08-01 07:41|| Front Page Top

#3 This article forgets to state that the company also got a 700 million covid "relief" payout a couple years ago.
Posted by Chris 2023-08-01 08:24||   2023-08-01 08:24|| Front Page Top

#4 actually, thanks to the cooling economy, the supply chain is in decent shape (post the UPS agreement)
Posted by lord garth  2023-08-01 09:38||   2023-08-01 09:38|| Front Page Top

#5 Yeah, some stuff I could not get in 2020 is being given away now.
Posted by M. Murcek 2023-08-01 10:12||   2023-08-01 10:12|| Front Page Top

#6 Coldplay predicted this years ago.
Posted by Super Hose 2023-08-01 10:54||   2023-08-01 10:54|| Front Page Top

#7 Big Labor™ is just as destructive as Big Business™. My older brother served his navy enlistment and got a job as an electrician (he still wonders why that set of apartments hasn't burned down). One day a meeting was held a dapper individual, flanked by two absolute gorillas (guards against management goons and Pinkertons dontcha know) adviced them to vote to join a 'sympathy strike' against the construction company. It didn't matter about their livelihoods they were supposed to shout "Union Solidarity!" and jump into poverty... Some other union in some other state had an issue and they were supposed to suffer for the cause.

Of course the labor organizer and his goons guards will still get paid in any event... Big Labor™ works for Big Labor™ like any other bureaucracy.
Posted by magpie 2023-08-01 10:59||   2023-08-01 10:59|| Front Page Top

#8 Big Labor™ is just as destructive as Big Business™

Two sides of the same plugged nickel.
Posted by M. Murcek 2023-08-01 11:12||   2023-08-01 11:12|| Front Page Top

#9 Someone should track the liquidation of the rolling stock inventory. There may be a story about why this was engineered to pick off existing but still valuable rolling stock that doesn't need to meet the crazy new emissions regs from the Bidet Slash and Burn Industrial Model.
Posted by NoMoreBS 2023-08-01 11:23||   2023-08-01 11:23|| Front Page Top

#10 "Someone always makes money in a liquidation..."
Posted by Mitt Romney 2023-08-01 11:27||   2023-08-01 11:27|| Front Page Top

#11 Econ 101: Wages = Marginal Product.

If you want to be paid more than you produce, you will eventually be paid zero.
Posted by Tom 2023-08-01 12:20||   2023-08-01 12:20|| Front Page Top

#12 ZH had an article that this bankruptcy had been brewing for years. Yellow led a too-aggressive acquisition policy, had at least one reverse stock split, and was just in bad shape, probably not unlike J.C. Penney with its mountains of debt.

So, indeed, the covid "relief" money might have plugged a small hole, but the writing was on the wall apparently.

No sympathy for the company. I wish some US airlines would suffer the same fate after getting government handouts only to award C-Suite pukes with bonuses, you know, for jobs well done.
Posted by DooDahMan 2023-08-01 12:26||   2023-08-01 12:26|| Front Page Top

#13 Yellow stock soars 121% today.
Posted by Jeremiah Jomosing7109 2023-08-01 19:47||   2023-08-01 19:47|| Front Page Top

22:16 Thung de Medici1424
22:07 Rex Mundi
21:39 Thung de Medici1424
21:29 DarthVader
19:47 Jeremiah Jomosing7109
19:41 Super Hose
19:22 Frank G
19:20 Frank G
19:19 M. Murcek
19:17 Frank G
19:13 swksvolFF
18:51 Anomalous Sources
18:43 Anomalous Sources
18:38 trailing wife
18:22 Glenmore
18:20 Glenmore
18:18 Glenmore
18:10 Silentbrick
18:00 Mullah Richard
17:50 Glenmore
17:45 Mullah Richard
17:04 Bobby
16:49 lord garth
16:43 lord garth
Merry-Go-Blog










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