Knight Transportation Legal Problems

A long read, if you read it all ( i did ).
But, holy cow. I think this is going to cost Knight a whole lot
of $$$$$$$$$$$$$$$.

 

Going to tell the jury how to find?

Doubt it, since that would simply be grounds for appeal to a higher court - which it will end up anyway, until settled quietly out of court.

 

Is Knight like most large carriers though and self insured?

 

Well simply put, a company and a driver are going to pay big time!!

 

maybe self in sured, how ever they still carry insurance. self in sured just means they have posted a bond up to x number of dollars. which they will pay out of pocket for after that they have whats called reinsurance. then that kicks in..

 

sell your stock now??

 

I got burned by 2008/9 crash and as soon as I saw this months ago I dumped KNX it was over 19 per share and it's lost over 5 bucks since or 22% of value. I know all stocks have lost but this is the worst performance in transportation stocks. They will take a few millions in losses over this and the reputation is tainted now. The DOT will be auditing them more, they will have to pay a team of lawyers, losses in the suit, losses in freight over reputation, and general losses as freight rates will start declining in this double dip. It was a loser anyway just stayed around $20 per share $0.04 to $0.22 quarterly dividends.

I am no expert and don't claim to be but all trucking stocks stink. Cost is too high and rates too low. Link provided is recent and KNX (knight) still rates as fifth best stock to buy in ground transport eve with all its losses and the only irregular route carrier in top 21. How it's still top 10 is beyond me. J B Hunt is better to own and it sucks to.
http://moneycentral.msn.com/investor/StockRating/srstopstocksresults.asp?Category=Sector&Choice=7

 

They are running ads here in the State employment website and on Craigs List for the Springfield area! Offering crap wages too! Makes me want to fall on a sword to drive for them! NOT!

 

I hate to own up to it but I worked for them breifly in 2003-04. Sold me on the idea of pay at the end of the load and I bought into it. Was a 61 MPH truck, swift drivers were making fun of me

I been out of driving for awhile due to becoming insulin dependent. Retraining for something different but miss talking trucking.