FW: Analysis: SBA disaster loans propped up carriers, prolonged Great Freight Recession
FREIGHTWAVES out with a good piece of insight… “following a hunch (…)”. John Paul Hampstead ...
XPO: MEXICAN WAVEXPO: TALKING TURKEYDSV: SCHENKER BOOST ERODINGPLD: EARNINGS DAY JBHT: IN PRIOR CYCLES JBHT: CONF CALL QUESTION TIMEJBHT: BNSF LOGISTICS INTEGRATION JBHT: INTERMODAL 'SEASONALITY' JBHT: PRESSURE ON SALES JBHT: CEO SIMPSON REMARKSJBHT: CONF CALL WITH SELL-SIDE STARTINGJBHT: HERE COMES THE PAINJBHT: EARNINGS DAYGXO: WINCANTON LOSSESR: ALL RISE
XPO: MEXICAN WAVEXPO: TALKING TURKEYDSV: SCHENKER BOOST ERODINGPLD: EARNINGS DAY JBHT: IN PRIOR CYCLES JBHT: CONF CALL QUESTION TIMEJBHT: BNSF LOGISTICS INTEGRATION JBHT: INTERMODAL 'SEASONALITY' JBHT: PRESSURE ON SALES JBHT: CEO SIMPSON REMARKSJBHT: CONF CALL WITH SELL-SIDE STARTINGJBHT: HERE COMES THE PAINJBHT: EARNINGS DAYGXO: WINCANTON LOSSESR: ALL RISE
FREIGHTWAVES reports:
A Delaware bankruptcy court ruled Monday to give Yellow Corp. more time to exclusively oversee its liquidation. A 90-day extension keeps other financial firms from putting forward competing plans for unwinding the estate. Counsel for Yellow argued that other interested parties may have sought an expedited disposal of its remaining assets, resulting in lower proceeds and severely diminishing the chances of any monetary recovery for equity holders.
Testimony from Matt Doheny, former Yellow chairman and the company’s current chief restructuring officer, said the group in place represents the best option for maximizing value on the remaining properties, rolling stock and other assets that are being sold.
The committee of unsecured creditors to the estate argued the liquidation has slowed significantly in recent months and that the cash burn from professional fees to attorneys and advisers has become detrimental to the remaining stakeholders, which includes pension funds. It asserted the process is “running the estates into the ground”…
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