Donald Trump is not a credit manager. Neither is Paul Ryan, nor Mitchie-Poo.
But they gave $700 million to Yellow Freight (YRC) back in 2020. And YRC is BK.
Kiss that $700 million buh-bye!
What’s new with a Yellow bankruptcy filing and likely liquidation:
- It would be the biggest trucker bankruptcy ever (with over four times as many trucks as Celadon)
- It would come three years after the company received a $700-million government bailout
- The government holds 29.6% of the shares; it got them in lieu of higher market-based interest rates on the bailout loan.
- The bailout was condemned in maddening detail by the Congressional Oversight Commission
Well, maybe we'll get our money back from Ukraine!! Right??
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