A pandemic-era lifeline that the Trump administration predicted would turn a profit for the federal government failed to keep Yellow afloat.
Category: Trucks and Trucking
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Berkshire Hathaway Posts Quarterly Profit of Nearly $36 Billion
A rebound in performance at the Geico car insurer helped offset declines in the conglomerate’s freight railroad business.
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After U.S. Bailout, the Trucking Firm Yellow Is Shutting Down
Yellow, which received a pandemic loan, is winding down operations ahead of an expected bankruptcy filing. The closure of the company would mean the loss of about 30,000 jobs.
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Yellow Trucking Company May Be Headed Toward Bankruptcy
Three years after receiving a pandemic relief loan, the trucking company Yellow has repaid little of the money and is warning that it could soon run out of cash.
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Tesla Will Build Heavy Trucks at a New Factory in Nevada
The New York Times – Business:The $3.6 billion investment, which also includes a new battery factory, presents a challenge to traditional truck makers that have been slow to sell electric vehicles.
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How a Texas Border City Is Shaping the Future of Global Trade
The New York Times – Business:Laredo, across from Mexico on the Rio Grande, is primed to become one of the world’s most important land ports as American companies reduce their reliance on factories in Asia.
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‘No Jobs Available’: The Feast or Famine Careers of America’s Port Drivers.
The New York Times – Business:Consumer demand has cooled, leaving fewer containers to pick up on the West Coast. For Marshawn Jackson, a truck driver paid by the delivery, that means a hard scrabble to make ends meet.
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Nikola Founder Trevor Milton Is Convicted of Fraud
The New York Times – Business:Trevor Milton was accused of boasting about nonexistent technology to inflate the stock price of Nikola, a maker of electric trucks.