Trump spent $700MM bailing out Yellow to preserve Teamster jobs during Covid— that’s $23,000 per person.
The Teamster Central States Pension Fund (TCSP) bailout was far more than the Pension Guarantee would have paid: $100K per member of the fund.
What will happen to TSCP now that Yellow is dead?
- 360,000 participants
- Only 45,000 are still working (not sure if this is before or after Yellow shut down)
- 22,000 teamsters lost their jobs at Yellow.
More bailouts?
Other news:
- Slower mail: 90% less volume of air shipments in 2 years.
- Drought hurts Panama Canal: 154 vessels waiting an average of 21 days.