FullMonte
Well-known member
Offline
Short version:
-YRC trucking was granted a $700M loan by the federal government because they are considered critical to shipping DOD freight.
-The company's stock was worth a total of $70M
-The government is suing the company for overcharging the DOD to ship said freight.
cnn.com
I can't seem to grasp the idea of this being the only trucking company that can ship DOD hardware, and I can't seem to fathom loaning them 10 times the value of the company.
Something is really off here.
-YRC trucking was granted a $700M loan by the federal government because they are considered critical to shipping DOD freight.
-The company's stock was worth a total of $70M
-The government is suing the company for overcharging the DOD to ship said freight.
![cnn.com](/proxy.php?image=https%3A%2F%2Fmedia.cnn.com%2Fapi%2Fv1%2Fimages%2Fstellar%2Fprod%2F200701071645-yrc-truck-file.jpg%3Fq%3Dx_3%2Cy_156%2Ch_1684%2Cw_2993%2Cc_crop%2Fw_800&hash=4d6e8fcf454c6dddf9175e36f213930b&return_error=1)
Treasury just lent a troubled trucking company $700 million. The company was worth only $70 million | CNN Business
The US Treasury is giving a $700 million loan to YRC Worldwide, a troubled trucking company that warned in May it was in danger of going out of business.
![cnn.com](/proxy.php?image=https%3A%2F%2Fcnn.com%2Fmedia%2Fsites%2Fcnn%2Fapple-touch-icon.png&hash=3ab5128d49ee0a08a365d71125e8bf5a&return_error=1)
I can't seem to grasp the idea of this being the only trucking company that can ship DOD hardware, and I can't seem to fathom loaning them 10 times the value of the company.
Something is really off here.