WASHINGTON, D.C.  20549

                                   FORM 8-K

                                CURRENT REPORT

                    Pursuant to Section 13 or 15(d) of the
                       Securities Exchange Act of 1934

Date of Report (Date of earliest event reported)   March 14, 1995

                              YELLOW CORPORATION
            (Exact name of registrant as specified in its charter)

          Delaware                   0-12255                 48-0948788
(State or other jurisdiction       (Commission            (IRS Employer   
       of incorporation)            File Number)           Identification No.)

   10777 Barkley, P. O. Box 7563,        Overland Park, Kansas     66207
(Address of principal executive offices)                         (Zip Code)

Registrant's telephone number, including area code   (913) 967-4300

                                 No Changes.
        (Former name or former address, if changed since last report.)
Item 5. Other Events

        On March 14, 1995, Yellow Corporation (the company) announced that its
Board of Directors voted not to renew the company's Share Purchase Rights Plan
upon the Plan's scheduled expiration in 1996.  The Plan is commonly known as a
"Poison Pill" and was intended to deter abusive takeover tactics.  The decision
was made in response to general criticism of such plans from large institutional
shareholders.  Additionally, the takeover environment has changed significantly
since the Plan was implemented in 1986 and the risk that the company could be
the target of abusive takeover tactics is substantially reduced.


Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                                 YELLOW CORPORATION

Date:   March 21, 1995                         /s/ Phillip A. Spangler
                                         Phillip A. Spangler
                                         Vice President and Treasurer