Trump gang gave them a $700M loan under guise of national security that will never get repaid. Wonder how much of that got funneled back to Trump and the gang Yellow is shutting down and headed for bankruptcy, the Teamsters Union says. Here's what to know (msn.com) As of late March, Yellow had an outstanding debt of about $1.5 billion. Of that, $729.2 million was owed to the federal government. In 2020, under the Trump administration, the Treasury Department granted the company a $700 million pandemic-era loan on national security grounds. Last month, a congressional probe concluded that the Treasury and Defense Departments “made missteps” in this decision — and noted that Yellow’s “precarious financial position at the time of the loan, and continued struggles, expose taxpayers to a significant risk of loss.” The government loan is due in September 2024. As of March, Yellow had made $54.8 million in interest payments and repaid just $230 million of the principal owed, according to government documents.
If you couldnt make a profit shipping in 2020-2022 then you were definitely being fleeced by management.
The debt king strikes again. In b4 one of our right wing friends brings up Solyndra losses ($500 million under Obama). That was one of their top scandals for a time.
