RE: dam* the icebergs, full speed ahead ski50plus: The market - strangely enough - seems to have doubts about Tellier's ability to turn the ship around. Apparently Tellier has been quoted as saying - "the captain of the Titanic made the right decision - he just had bad information." - joke if not obvious.
Most of the relevant information was submerged so did not figure in the captain's calculations.
What you're saying is that what the market perceives as Yellow's greatest liability was not quantified and does not show up on the Balance Sheet.