EXHIBIT 5




                             Cahill Gordon & Reindel
                                 80 Pine Street
                            New York, New York 10005
                                 (212) 701-3000




                                                                November 9, 2000




Yellow Corporation
10990 Roe Avenue
Overland Park, Kansas  66207

Ladies and Gentlemen:

     We have acted as your counsel in connection with the preparation of a
Registration Statement on Form S-8 (the "Registration Statement") being filed by
you with the Securities and Exchange Commission under the Securities Act of
1933, as amended, with respect to the additional 100,000 shares of Common Stock,
par value $1.00 per share (the "Common Stock"), of Yellow Corporation (the
"Company") which are to be granted (a "Grant"), pursuant to the Yellow
Corporation Amended Directors' Stock Compensation Plan (the "Plan").

     We advise you that, in our opinion, upon the issuance of Common Stock
pursuant to a Grant in accordance with the terms of the Plan, and in each case
upon payment to the Company of any consideration for such Common Stock provided
for in the Plan or any agreement with the Company relating to the applicable
Grant (which consideration is assumed herein to be in no event less than the par
value of the Common Stock being issued upon such payment), the shares of the
Common Stock so issued will be validly issued, fully paid and nonassessable.

     We hereby consent to the filing of this opinion with the Securities and
Exchange Commission as an exhibit to the aforesaid Registration Statement.


                                    Very truly yours,


                                    /s/ Cahill Gordon & Reindel