Been struggling for years - 30,000 employees and 12,000 trucks
Yellow, once one of America’s dominant shipping companies, intends to file for bankruptcy, said the Teamsters union, which represents employees of the firm. The filing would come after Yellow failed to reorganize and refinance more than a billion dollars in debt.
The company, whose customers included Walmart and Home Depot, has been financially imperiled for years.
It was only just over a year ago that there was a shortage of drivers - post covid catchup presumably. Now there is a ‘freight recession’
Your wonderful Union at work.
How is the union to blame?
Because they force the company to follow laws such as all truckers must take a break. Now if the union wasn’t there the companies could break the law and we all could get our golf clubs faster, although there might be many more wrecks and that could slow down the supply chain.
Such as delivering coffins to the mortuary? Or more refigerated containers to hold all the dead bodies at the morgue?
Because the union is forcing the JC’s to honor their contract to fund their health care and pension fund?
I am actually asking for the econ theory on how unions hurt the economic system.
Is there some sort of actually ideas behind that?
The foundation of the “Supply side” nonsense is that the “JCs” should have all the money. Employees having the nerve to demand to be paid for their work, takes money away from the “JCs”. Taking money away from the “JCs”, by definition, hurts the economy.
Certainly what Friedman danced all around with a wink for the JCs.
Like I said not one word of provable truth in his bull.