Pressure grows on US Treasury to salvage trucking giant Yellow

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Congressional pressure is growing on the U.S. Treasury to help salvage trucking giant Yellow from bankruptcy, from Republicans and Democrats alike, letters viewed by Reuters show.

Semi truck trailers are pictured at freight trucking company Yellow’s terminal near the Otay Mesa border crossing between the U.S. and Mexico, after the company filed for bankruptcy protection, in San Diego, California, U.S., August 7, 2023 REUTERS/Mike Blake/File PhotoNov 8 -

It follows separate letters sent by Republican Senator Roger Marshall and Democrats Sherrod Brown and Bob Casey last month. Earlier this week, Democratic senators Elizabeth Warren and Ed Markey sent letters.Republicans and Democrats pushing Treasury could benefit Jack Cooper, one the largest U.S. privately owned auto transport companies, making its

Making Yellow’s "loan repayment terms more flexible, is a commonsense step to keep Yellow’s trucks on the road, and keep its workforce gainfully employed," he wrote.Yellow, formerly known as YRC, is one of the largest so-called less-than-truck load carriers in the U.S. Its customers include Walmart

 

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