IMHO.
The carriers that went deep on yellow cubes were able to do so with not a lot of money up front.
How many loads does it take to pay for a $7-$10,000 cube, assuming that's the range they were in. And when the trucks dies, "throw it away".
Lower driver pay just means the ability to run for less and win more bids.
95% of dispatchers and brokers go straight for the lowest bid. Regardless. They're human. And they're probably instructed to do so.
Point? MAYBE these carriers are using yellow cubes just to keep revenue coming in. Maybe it's about making payroll, paying the rent and keeping the lights on and survival.
Maybe their "regular" fleet provides enough margin to get close but the "yellows" mean fewer people in dispatch lose their jobs. Maybe properties don't have to be sold. Maybe banks don't call their loans.
Etc.
This is just a theory and I'm not trying to defend it. We too are, of course, affected by the current push-down in rates. But I think for some it may be the proverbial bandaid slowing the bleeding.
As I said, just one angle.
Opinions?