Iowa-based flatbed carrier TMC transitions to employee-owned company

Well yea why not? It gives those employees a little something to fall back on several years from now.

 

If this would have happened 7 months ago I may have stayed there! That is pretty cool that Harold made this decision. Oh well, it was still an awesome place to work.

 

Having worked at a company that did this I can tell you, like everything else in business it depends....
Check this website out for info as to the types of ESOP.

http://www.esop.org/

 

I'm going to follow this one. I put my application in last week and is going through the checks. Very interested to see how this goes, and what it all entails. hoping to put that "My other truck is Black and Chrome" sticker on.

 

I worked for a company that did the same and when I left, I had $10,000.00 in free stock.

 

I`ll find out more Jan 1. till then I know nothing

 

Interesting, by proxy I found myself working under TMC when they bought out Yellowstone Trucking, that was when Harold's son was running the operation though. He surely loused things up, and he destroyed for me what was a good company. I have a lil bit of heart burn with TMC over that.

It would be great if this was a good move for them, I will be watching to see what they do. I know a lot of folks though regard them as the swift of the flat bed industry. Maybe this will clean up their image.

 

After Harold came back in, he cleaned everything back up and made it back into what it was when he turned it over to his son. He also downsized tons! In 2010 when I started there they had 1400 trucks IIRC and now they have 2400+. I don't blame you for having a bad taste after that whole ordeal though. As for TMC being the swift of flatbed companies, I think Swifts flatbed division takes the cake on that one LOL. There is much worse out there then TMC, at least that is what I gather from some of the horror stories on this website.

 

After seeing so many kids louse up what their parents built on blood sweat and tears, I think this is the best outcome for these family owned trucking companies. I watched a respected man and woman partially retire and let their daughter start running the trucking company, six months later with drivers quitting, shippers canceling and cost soaring, they had to step back in and take the reigns again. Last I knew, they are still running daily operations 10 years into their "retirement".