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Yellow, trucking giant with Kansas City ties, declares bankruptcy after years of financial strugglesThe Chapter 11 bankruptcy, which was filed Sunday, comes just three years after Yellow received $700 million in pandemic-era loans from the federal government. Until recently, Yellow was headquartered in Overland Park, Kansas.
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The demise of Yellow, which until recently headquartered in Overland Park, stems from an exodus of customers, union strife and longstanding financial troubles. With 30,000 jobs at stake, it's poised to be the largest trucking bankruptcy in the history of the U.S.
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In addition to meddling by Trump administration officials, the subcommittee report said lobbyists for Yellow Corp. leveraged its close ties with the administration to obtain a loan on terms so favorable that it violated guidelines of the Corona Aid, Relief, and Economic Security Act (CARES Act).
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A congressional subcommittee is asking for records that would show any communications between Trump White House staffers and representatives of Overland Park, Kansas, trucking company Yellow Corporation. The committee wants to know why Yellow got a $700 million CARES Act loan.