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)   January 17, 1996   

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

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

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

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

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

Item 5.  Other Events

         On January 17, 1996, Yellow Corporation (the company) reported that
President and CEO, George E. Powell III, announced his intention to resign.
Powell, 47, who was named to his current position in 1992, agreed to remain
until a replacement candidate is selected.  That selection is expected in the
next few months.  Powell will also continue his current board term and stand
for reelection when that term expires in April concurrent with the Annual
Shareholders meeting.

         Powell, who for twenty-five years has held numerous management and
executive positions at Yellow Freight System, Inc. culminating with the top
post at the holding company, will be involved in identifying his successor.
His father, George E. Powell, Jr. will remain as Chairman of the Board of

         Yellow Corporation is a Fortune 500 transportation company providing
shipping distribution solutions for businesses throughout North America, Europe
and the Pacific Rim. The company had 1994 revenue of $2.9 billion.


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:    January 24, 1996                        /s/ H. A. Trucksess, III    
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                                                     H. A. Trucksess, III
                                                 Senior Vice President - Finance