Current:Home > MarketsHow Yellow up wound up in the red-InfoLens
How Yellow up wound up in the red
View Date:2024-12-23 11:38:54
Yellow stunned the trucking industry when it filed for bankruptcy this month. The nearly hundred-year old company said it will lay off 30,000 employees and liquidate all of its assets. On today's show, a glimpse into Yellow's bankruptcy process: who's blaming who for what, and an explainer on a specific type of loan - the debtor in possession financing - which promises some rich returns to the lender in this case.
For more on challenges in the trucking industry check out our story on the spot market and the so-called freight recession.
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Full transcript: Rep. Alexandria Ocasio-Cortez on Face the Nation, Sept. 24, 2023