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Yellow lawsuit accuses Teamsters of blocking restructuring plan, causing $137M in damages

June 27, 2023 by James Dornbrook

Yellow contends that its existence hinges on the trucking company's "One Yellow" modernization plan, including addressing the looming maturation of $1.3 billion in debt next year. But a lawsuit filed Tuesday in federal court claims that the Teamsters union is breaching its contract by standing in the way of the effort, costing the company $137 million in forgone savings and additional revenue One Yellow would have generated.

Filed Under: Uncategorized

Pending retirement leads Hawthorn Bank to search for new CFO

June 23, 2023 by James Dornbrook

The pending retirement of Stephen Guthrie has Hawthorn Bank looking for a new CFO.

Filed Under: Uncategorized

Teamsters balk at new concessions as Yellow tries to avoid bankruptcy

June 20, 2023 by James Dornbrook

With a massive debt problem hanging over it, Yellow Corp. says that to avoid bankruptcy it needs additional concessions from International Brotherhood of Teamsters workers. But the union says its members already have given enough.

Filed Under: Uncategorized

M&A experts say higher interest rates, costs are changing the way buyers look at deals

June 16, 2023 by James Dornbrook

Mergers & acquisitions are down in 2023 — but local experts say parties are finding ways to arrive at deals.

Filed Under: Uncategorized

UMB Bank institutes layoffs in wake of stock woes but won’t disclose a specific figure

June 16, 2023 by James Dornbrook

UMB Bank joined the ranks of banks in the midst of laying people off but declined to share any details. A reliable source puts the number around 100, but UMB officials say the figure is "not material to our business" so it won't discuss it publicly.

Filed Under: Uncategorized

CrossFirst Bank lays off 22 people in redundant positions in effort to boost efficiency

June 16, 2023 by James Dornbrook

Leawood-based CrossFirst Bank laid off 22 of its 500 employees as part of an efficiency project in the wake of acquiring two banks in the past year. CEO Mike Maddox also points to margin concerns in an uncertain economy.

Filed Under: Uncategorized

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