After $700 Million U.S. Bailout, Trucking Firm Is Shutting Down
After $700 Million U.S. Bailout, Trucking Firm Is Shutting Down
www.nytimes.com After $700 Million U.S. Bailout, Trucking Firm Is Shutting Down
Yellow, which received a pandemic loan, is winding down operations ahead of an expected bankruptcy filing. The closure of the company would mean the loss of about 30,000 jobs.
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No, because this sets an extremely bad precedent. The simpler answer is just not give bailouts like this. A properly functioning anti-trust department wouldn't let these private companies get so big they are deemed "too vital to fail" ... but here we are.
Hello there friend, have you ever heard of JP Morgan Chase? Legend has it, the government would go bankrupt first.
They had a 30% stake here - would a 51% stake be any different?
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