Any inside info on who Knight is merging with?

Discussion in 'Knight' started by truckinusa, Apr 20, 2010.

  1. ssbowles

    ssbowles Heavy Load Member

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    Hmmm...I hadn't noticed any of that, and I'm based in Fontana. I was just happy to have all the construction finished, and then to have a large part of the "renters" out of the yard...finally got a little breathing room in there.
     
  2. 3.14

    3.14 Road Train Member

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    if the mexicans based out of there can figure out that the toilet paper doesn't go in the corner of the stalls, or in the garbage can after wiping their butts, it'd a-okay in there. it's actually nice they finally have a shower there, though. however, i once stepped in there and found nasty toilet paper and paper towels thrown all over the place. none of it was either flushed or put in the proper waste bin. it'd also be quite nice if drivers would stop parking their POV's in the tractor-trailer spaces.

    it's still a madhouse in there during the weekend, though. i didn't drop a trailer over a weekend because of that. i knew i wouldn't have been able to drop it in a legit stall. instead, i made the delivery and kept the empty afterward.
     
  3. ssbowles

    ssbowles Heavy Load Member

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    Probably better off in the long run.
     
  4. Doc Rock

    Doc Rock Bobtail Member

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    So you mean that we're supposed to believe that Western Express went from a company that was financially sound enough to purchase SMX is all of a sudden insolvent and selling out to Knight?

    Pray tell, how have you come upon this insider information about the members of upper management dumping company stock?
     
  5. 3.14

    3.14 Road Train Member

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    here is the link that shows the people in upper management that have sold all their company stocks.

    the source link of an article about the purchase of 49% of a company that isn't named. however, after seeing western express trailers and tractors at the phoenix yard, a couple of their trucks being gutted, and their trailers dropped WITH the rest of the knight trailers, it all makes sense.
     
  6. HEAVY DUDE

    HEAVY DUDE Road Train Member

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    I have no info on management dumping stock. As for Western express buying SMX: At the time of the purchase it was not a cash sale. I have been told by folks at SMX that Western didn't have the cash to finish the purchase and borrowed it from Knight. The same people are now telling me that Western can't repay Knight. Can you say forced merger (Knight/Western) Is this true? I think so but, not sure.
     
  7. Doc Rock

    Doc Rock Bobtail Member

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    Well if the Reuters article is to be believed, it would only make sense that Knight, and the top shareholders, would liquidate some stock. A debt free company should stay that way, and by liquidating some paper assets they can free up some capital to have the leverage to do a cash deal and not put the company in debt.

    Pretty smart move. Too bad there is so much negativity out there towards this company. It's hard to tell if it's worth a darn or not. From a driver's point of view.
     
  8. JimDucan

    JimDucan Medium Load Member

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    Pray tell how removing 20,000,000 dollars of personal money is a "good" thing. The sale of the stocks, what you called insider trading lol, has nothing to do with Knight Transportation INC, but everything to do with the stockholders selling out their personal stocks.

    You have no idea what you are talking about. Unless you think they are going to inject their personal funds into a publicly traded company...

    Which is completely laughable.
     
  9. Dna Mach

    Dna Mach Road Train Member

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    Dishonest con artists, liers, and cheats. It always amazed me when an obviously blind follower of Knight exclaimed "Knight pays cash for their junk, so there a great place to work" Nevermind the fact this guy would be getting 1500 miles a week, was far from home, and had no idea when his next load would be assigned. Knights healthy bankroll does nothing for the driver except ensure a mediocre at best "job" with a mega junk carrier would still be here next week. Yep just like a credit card bill, ain't going nowhere.

    It's really hard to tell if Knights a good place to work? Really? This isn't your typical "idiot can't read a map, blames carrier for ruining his life" story in the Knight section. It's a little beyond that. Everything that has been learned about the efficient and timely manner of freight delivery since the inception of trucking has pretty much been flushed down the toilet at Knight. There's hundred of pages here discussing how much of a waste to your valuable time Knight is.

    One thing I always found entertaining at Knight was the fact that you could make more money with a new green DM. They would pay you the milage on things like trailer searches, the classic and popular "that load was picked up last week" routine. If you deadheaded home 200 miles because 3 weeks is just enough already, they would pay you those miles home and consider it DH too your next load. I've got more examples but you get the idea.

    "Too bad there's so much negativity here"?? Knight has no one to blame but themselves for the horrible rep they have.
     
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  10. 3.14

    3.14 Road Train Member

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    something tells me blue called in some more office lackeys to help back him up.
     
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