After $700 Million U.S. Bailout, Trucking Firm Is Shutting Down
After $700 Million U.S. Bailout, Trucking Firm 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.
You're viewing a single thread.
If companies are deemed to big to fail then they need to be nationalized.
Nationalizing a company opens a whole new can of worms.
Do you just let them operate at a loss? How can the others in the industry compete with a company that the taxpayers subsidize to operate at a loss?
IMO, The terms of a to "big to fail" bailout should be a slow liquidation or a Ma Bell style breakup.
Agree in principle but there was little left to nationalize with yellow.
Their fleet was composed of mostly leases. It had been gutted and infected with MBA types doing dirty MBA tricks for years now.