Trucking company Schneider National pursues IPO

Discussion in 'Schneider' started by drvrtech77, Sep 17, 2016.

  1. mickeyrat

    mickeyrat Road Train Member

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    wow. you saving up for xmas?
     
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  3. TennMan

    TennMan Road Train Member

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    Halloween, I clelbrate all occasions.
     
  4. SingingWolf

    SingingWolf Heavy Load Member

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    So what do y'all think the ramifications will be for company drivers? Or is it likely that there won't be much change on that side of things?
     
  5. RStewart

    RStewart Road Train Member

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    Just know this, if they do an IPO the investors will be first priority, then Schneider's own interest, then the driver. Puts one more group of people ahead of you in the lunch line.
     
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  6. TennMan

    TennMan Road Train Member

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    My guess for company drivers the biggest change could be loss of bonuses or make it even more difficult to attain said bonuses. Maybe reduce or eliminate 401k match. Maybe a change in other benefits. Maybe lose Vacation.

    However I don't believe it can get much worse for company drivers as is.
     
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  7. SingingWolf

    SingingWolf Heavy Load Member

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    ....harder.....to.....achieve......bonuses......Isn't it already set so that darn near the only way you can get your bonus and not be dq'd for mileage is to hope you only get light loads for the entire quarter and hope that a glitch occurs in the QC so it starts listing closer to exact ACTUAL miles? lol At least this is the way it appears on the surface reading through the forums :D
     
  8. gentleroger

    gentleroger Road Train Member

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    The surface is wrong. OOR used to be a part of the bonus but no longer is. I'm usully 15% percentage points above the threshold.

    For company drivers it won't be overt changes. Rather all OCs will begin to look more like Obetz with shops like Charlotte. Going home for 3 days? Clean out the truck because it will be used as a loaner or reassigned. Think getting someone on the phone is hard now? Wait until your dbl has 60 drivers.

    A public company has a hard time taking the long view and is incentivized to make quarterly reports look good. Post a second quarter loss to double annual profits and you're crusified. Tell the truth about skinning your knee and the investors may force you to amputate.
     
  9. tnscavenger

    tnscavenger Light Load Member

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    Right on! I call it "throwing it to the wolves". Most investors do not care about company culture, what makes it a good employer, or why it has succeeded for 80 years. All they want to see is maximum profit. If this story is true, I envision changes like Tenn Man has stated in the future.

    If these things are to pass, then it shall become the time to move on... perhaps to a 100% employee owned co.
     
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  10. stevep1977

    stevep1977 Road Train Member

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    This whole IPO thing is kind of silly. Am I to believe that somehow offering shares to be publically traded makes them that more concerned about their bottom line and profits when compared to being a privately held corporation? Is there any reason why a private company cares less about making money than a public one? Seems like a big conspiracy.
     
  11. PoleCrusher

    PoleCrusher Road Train Member

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    The biggest difference is that a publicly held company tends to take a short view. Whatever it takes to make the quarterly reports look good, regardless of wether or not its in the best interest of the company.

    A private company tends to take a longer view. The owners are free to pursue the company's best interest without answering to share holders.
     
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