Funny Freight Friday: When there's not enough adrenaline in your life so you go from being a security guard to working in logistics.
Plus: AFN founder Ryan Daube passes away, DAT acquires Outgo, ArcBest unveils new AI tools and more.
Ryan Daube, founder of AFN Logistics and respected industry leader, has died at 47 following a battle with cancer.
Yellow Corp. plans to sell Yellow Logistics Inc. amidst unresolved labor disputes and financial troubles. Potential bankruptcy looms as negotiations stall.
Yellow Corp. announced plans to sell its logistics unit, Yellow Logistics Inc., while concurrently struggling to negotiate with unions representing its less-than-truckload carrier segment. While no details about potential buyers or the unit's revenue were disclosed, it has been highlighted as one of the fastest-growing 3PLs in the industry. Meanwhile, ongoing labor disputes threaten Yellow Corp.'s financial stability, as it faces debt restructuring requirements and allegations of deliberately withholding contribution payments for employee benefits. These issues, alongside a potential strike, have raised concerns about the company's potential bankruptcy.
Source: FreightWaves
Yellow Logistics, a Third-Party Logistics Broker and Subsidiary of Yellow Corporation, Flourishes as Shippers and Vendors Turn to 3PL Logistics Providers$yell will sell it to pay the debts
— Dean (@Dean13151) July 27, 2023
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The European unit could potentially fetch around $2 billion, based on industry estimates.
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