Exclusive: Trucking firm prepares long-shot bid for Yellow, seeks US Treasury support

By Jarrett Renshaw

Oct 30 (Reuters) – One of the largest U.S. privately owned auto transport companies is quietly mounting a long-shot bid – with increasing interest from the Biden administration – to rescue trucking giant Yellow Corp (YELLQ.PK) from bankruptcy liquidation and bring back some 30,000 union jobs, according to multiple sources familiar with the discussions.

The previously unreported effort by Jack Cooper Transport, a trucking company that counts General Motors (GM.N), Ford (F.N) and Stellantis (STLAM.MI) as its main customers, has gained steam in recent weeks as the powerful International Brotherhood of Teamsters union and a bipartisan group of U.S. senators stepped up their pressure campaign on the Biden administration.

Read Full Article Here…(reuters.com)

---

Home | Caravan to Midnight (zutalk.com)

Live Stream + Chat (zutalk.com)

We Need Your Help to Keep Caravan To Midnight Going,

Please Consider Donating to Help Keep Independent Media Independent