Trump-Era Bailout Of Trucking Giant Yellow Heads South, Leaving Taxpayers In The Dust
Portfolio Pulse from Piero Cingari
Yellow Corp. (NASDAQ:YELL), a trucking company that received a $700 million loan from the U.S. government in 2020, has ceased operations and is expected to declare bankruptcy. The loan, which gave the Treasury Department a 30% equity stake in the company, is now at risk. The handling of the loan by the Trump administration has been scrutinized in at least three government investigations.
August 04, 2023 | 10:35 am
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Yellow Corp. is expected to declare bankruptcy, which could lead to a significant loss for the company's shareholders, including the U.S. government.
The expected bankruptcy of Yellow Corp. could lead to a significant loss for the company's shareholders, including the U.S. government, which holds a 30% equity stake in the company. This could negatively impact the company's stock price in the short term.
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