TRANSFORCE takes over CONTRANS ( LAIDLAW )

Discussion in 'Canadian Truckers Forum' started by FLATBED, Jul 25, 2014.

  1. FLATBED

    FLATBED Road Train Member

    Canada’s largest trucking firm, TransForce, has made a friendly, board-approved takeover bid for Contrans, another of Canada’s largest, publicly traded trucking firms.The proposed deal was for $14.60 per share, totaling an equity purchase price of about $495 million.
    The deal has the support of Contrans’ Board of Directors

    Geez 1 of the biggest takeovers in Canadian trucking history and not 1 comment :)
     
    Last edited: Jul 26, 2014
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  3. Tam_Tam

    Tam_Tam Light Load Member

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    I'm devastated! We're all screwed for LTL wages even harder than we were before.
    PS. Highland ops took Transforce to court and won the right to get FSC. FSC!!! Maybe it needs to be law that 100% of that goes to the person who buys the fuel. Guaranteed it would be more than the mileage pay and would make it a bit harder to snap off a cheque for a paltry $495 mill.

    YEEESH-ES.
     
  4. Tam_Tam

    Tam_Tam Light Load Member

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    AND if these large guys try to tell you they can't afford to pay your waiting and offloading time ... scream and beller like a moose in rut! Look at these effing profits!! :biggrin_1square8:
     
  5. FLATBED

    FLATBED Road Train Member

    Highland ops took Transforce to court and won the right to get FSC. :biggrin_25526: Maybe you should get the FACTS STRAIGHT , HIGHLANDS O/O's were part of a class action suit ( 32 Companies ) that went after the CANADIAN GOVERMENT to get proper EXCISE TAX refund on FUEL TAX charged on Canadian bought fuel used in the USA ( law has been changed ) and TRANSFORCE is just getting around to distributing the $ now as it had taken place prior to TRANSFORCE buying HIGHLAND and tyed up in court. It was the USW the O/O's union that did the legal part to get TRANSFORCE to release the refunds.
     
  6. Prairie Boy

    Prairie Boy Road Train Member

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    Hi Flatbed, You are 100% correct in the FSC case.
     
    FLATBED Thanks this.
  7. Tam_Tam

    Tam_Tam Light Load Member

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    If they wouldn't release it to the operators than it's the same sentiment I expressed above operators not getting their due FSC, in which ever way it was accumulated. We already all know that we get much less than we need and companies charge much more than they're willing to pass on. Wanting to keep the excise tax sounds pretty close to not wanting to pay someone what they're due to keep it as their own profit, doesn't it? The fact is, Transforce was holding back monies that were due their workforce and had no costs attached to, and the operators won it, as they should.

    Also, I'm going to point out here that there are graceful ways to correct someone and angry ways to correct somebody. The only thing I find worse than companies crapping on drivers/operators is other drivers crapping on other drivers.
    IThis forum keeps people who don't have a ton of time to read all the articles informed about what's going on through the group... and I absolutely don't mind being corrected.
     
    Last edited: Jul 29, 2014
  8. Prairie Boy

    Prairie Boy Road Train Member

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    Probably because they felt it was the past directors of Highland that were responsible by not having disclosed the matter????
     
  9. Tam_Tam

    Tam_Tam Light Load Member

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    I edited my post, PB. I felt bad for calling him snarky.
    If you look at the trail of money and how it came to be in Transforce's coffers in the first place it seems that the legal process should have been taken to the end of the line whoever owned the corporate name.
    If Highland had listed it as an asset on their balance sheets at time of sale, then this is a different story where Transforce is concerned.
     
  10. Tam_Tam

    Tam_Tam Light Load Member

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    And just to be clear, Flatbed, PrairieBoy, I come on here to learn about things and I absolutely don't mind being wrong. We're all here for information and to express our opinions because that is the purpose of any forum.
     
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