Ross’ thoughts on the transformation: “A main result of COVID-19, in our view, has been to act as an accelerant on trends (that may have been moving too slowly) — essentially pressing ‘fast forward’ on life for both aging individuals and aging companies in poor health. YRC certainly fits into the ‘vulnerable population’ category, as it has been lumbering around with multiple preexisting conditions that made it vulnerable to shocks for years now.”
Ross sees the second quarter as “make or break” for the carrier and questions the company’s survival.
“At this point, we believe it’s dependent on two things: a) U.S. government assistance in the form of a grant to cover payroll, health care, and/or other expenses, and b) how quickly volume returns as the economy reopens this month. If we don’t get any good news in the next 30 days, we would not be surprised to see a wind down of operations on or before July 4th weekend.”
“At this point, we believe it’s dependent on two things: a) U.S. government assistance in the form of a grant to cover payroll, health care, and/or other expenses, and b) how quickly volume returns as the economy reopens this month. If we don’t get any good news in the next 30 days, we would not be surprised to see a wind down of operations on or before July 4th weekend.”
https://www.freightwaves.com/news/sp...vival-ramps-up
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