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  1. #11
    Bobtail Member
    Member Since
    Jul 2008
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    Lowell Ar
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    Quote Originally Posted by passingtrucker View Post
    I was with JB in the late 80s, left them a few times, then came back in the mid 90s when they had just introduced the COE Argosy, and JB got about 200 units to try them out. According to JB veteran drivers who had been with the company over 5 years, John Bryant Hunt's wife, Joan, is related either by blood or marriage to Sam Walton, founder of Walmart. At one point, JB was close to filing bankruptcy due to excess claim payouts of shorts, damages, and entire loads destroyed in chargeable accidents. JB is self-insured, so any claim filed against them comes right out of their own pockets, eroding their net profit margins. Joan used her family connections to Sam Walton to secure a loan, either directly from Sam Walton, or Walton had co-signed to secure a lower interest loan rate, which JB would not had qualified for, had they gotten the loan on their own name. This was the only time JB came close to bankruptcy.

    Even if a company files for bankruptcy, it doesn't mean they're going under. There's Chapter 11, the most common type of bankruptcy filed by large corporations. You're simply telling your creditors you don't have the money to pay them, but they will get paid eventually after you've reorganized the way you do business. Donald Trump is one of the wealthiest man in the USA, and he had used Chapter 11 Bankruptcy filings to his advantage. He delayed paying creditors while his other investments matured, then used the interest on matured investments to get himself out of bankruptcy. If you don't file bankruptcy when your liabilities (bills) are overdue, your creditors can seize assets, such as your trucks, trailers, properties, etc.... and put them up for auction to get their money.

    Chapter 13 is similar to Chapter 11, but it's used by individuals (O/Os or small-fleet owners) and small companies with less than $100K in annual revenue. The worst type of bankruptcy is Chapter 7; it means you're totally broke, the creditors will have to write-off their losses, and employees may possibly get partial payment of their paychecks. Under Chapter 7, employees are suppose to get priority in getting what ever money is remaining, but there had been past cases where business owners filed Chapter 7, then boarded a plane with all the cash remaining, to live in exile in a foreign nation.

    When you hear news of a company filing bankruptcy, you should use critical thinking, and follow up with an intelligent question, "Are you referring to a Chapter 11, 13 or 7 bankruptcy ??" If the person is speechless, it's indicative of a false rumor he/she is disseminating. If it was from a credible news source, it would clearly say what type of bankruptcy was filed.
    Having lived in the NW arkansas area for many years, and being my family has always been close friends with both the Waltons and the Hunts. And also pointing out Ive spent many many years working for both the Waltons and the Hunts in quite a few different companies....I can assure you that the Waltons and the Hunts are not related in any way by blood or by marraige. These silly rumors have been going around for years...I even remember people themselves in the JB Hunt office saying that Alice Walton was married to JB Hunts son. I dont know where these rumors got started, but I can assure you they arent even close to being true.
    The only connection between JB Hunt and the Waltons I know of besides being friends is JB once bought Alice Walton a Llama and after that she named her investment banking firm "Llama company"

    Also for the record, JB isnt even close to filing bankruptcy

  2. #12
    Light Load Member NukedNative's Avatar
    Member Since
    Aug 2008
    Location
    Buchanan, MI
    Trucker?
    Student
    Age
    37
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    Ya'all are breakin my heart! You mean the CB isn't the place to get all of the correct information? Crap! I guess that I don't have 15 minutes to "doc my dac" when I'm pulled over then either eh?

  3. #13
    Currently inactive, contact Bullhaulerswife for support WiseOne's Avatar
    Member Since
    Feb 2004
    Location
    Truckers Report, TN
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    My Truckers Blog
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    CRAP...I got my hopes up and almost crapped myself when I saw the title! Sigh...guess have to wait a bit longer. IF JB Hunt went bankrupt, I would have to take a shower after finding out due to all the bodily fluids that would flow from me...

  4. #14
    Light Load Member allnite's Avatar
    Member Since
    Jan 2009
    Location
    cedar bluff,al.
    Trucker?
    18 Years
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    53
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    Quote Originally Posted by NukedNative View Post
    Ya'all are breakin my heart! You mean the CB isn't the place to get all of the correct information? Crap! I guess that I don't have 15 minutes to "doc my dac" when I'm pulled over then either eh?
    hahahaha typical sarcastic driver-THANKS.Lightens all the negativity up and man I have been reading some negative sh--.

  5. #15
    Medium Load Member
    Member Since
    Jun 2009
    Location
    Pennsylvania
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    17 Years
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    39
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    And I suppose that also means the US Marshal in shining armor won't come to my rescue when the Big Bad DOT Bear tries to search my truck illegally? That breaks MY heart...

  6. #16
    Light Load Member
    Member Since
    Mar 2009
    Location
    Amarillo, TX
    Trucker?
    5 Years
    Age
    29
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    No they're not bankrupt yet, i wish, but they have been downsizing a little. even though you wouldnt know it when they have 2 or 3 orientations a week with 30+ people. Also selling off what seems to be 90% of their trailers, I spent 6 1/2 hours in Atlanta looking for an empty one day, 3 hours a time before that, the ones you do find are in for a repair or being sold, and the lot next door has 200+ trailers for the taking but ohhhh we're sorry they are all for sale.

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