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The strike last week by the International Brotherhood of Teamsters (IBT) against Performance Transportation Services (PTS) was the straw that broke the camel's back. The second largest car hauler in the United States was unable to survive the wage-related dispute, especially after filing for bankruptcy protection in 2006 and 2007. On Friday, PTS announced that it's stopping all operations and going out of business.

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Performance Transportation Services (PTS), the second largest car hauler in the United States, is being hit by a strike from the International Brotherhood of Teamsters. The walkout began this morning after a bankruptcy court granted PTS permission for a 15-percent emergency pay cut to the workers.

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