ECONOMICS

As the US blows past $33 trillion in national debt for the first time – and adds roughly $1 billion in new debt every hour, a comprehensive new report from the Heritage Foundation reveals that the US government has tacked on $7.5 trillion in new debt over past two years alone, drawing a stark image of America's economic prospects.

The report sheds light on a series of colossal spending packages rolled out between March 2020 and December 2022, amounting to an (more…)

By Todd Maiden of FreightWaves

The Teamsters union called on the U.S. Senate this week to investigate Yellow’s bankruptcy as part of a broader investigation the lawmaking body’s judiciary committee is conducting on “corporate manipulation of Chapter 11 (more…)

By Todd Maiden of FreightWaves

An order was entered in a Delaware bankruptcy court Thursday naming less-than-truckload carrier Estes Express Lines’ $1.525 billion stalking horse bid as the winning offer of Yellow Corp.’s portfolio of owned terminals.

Bid protections for Estes were also approved, including a $7.5 million breakup fee and expense reimbursement up to $1.6 million.

Yellow filed for bankruptcy on Aug. 6 after failing to reach terms with its union workers on a (more…)