Is a trucking company meltdown, a cautionary tale for the future?

Motley Full Money starts now.

I'm D for Bullard here with Motley Full Analyst Bill Barker.

How are you today, Bill?

Very well, thanks.

Let's start with a big story that unfolded over the weekend, yellow, a large freight

trucking company with a 99-year history.

They shut down operations.

This is interesting because it's as much as 10% of all of the less-than-truckload shipping

in the US.

So, when you think about yellow, it's also all of the 12,000 trucks and shipping freight

for Walmart, Home Depot, some of the other big retailers.

What else is happening here?

Well, their debt caught up with them.

And they were in negotiations with the drivers as a union shop and they could not get to a

price that was going to work.

They didn't really have that much freedom on the company side to negotiate higher wages.

Because of all the money they had already borrowed and the covenants they had to go to

their lenders to get any significant raise approved and that really wasn't going to happen.

So negotiations broke down and they really stopped taking new orders the last week and

sort of kept delivering the things that were already in the system.

But, you know, their customers fled and then earlier in the month as they lacked confidence

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