Conway bought out by XPO

Con-way freight already has a high turn-over rate so it wont be anything new to them having to hire drivers time and time again

 

How they have any trucks on the road at that pay rate is beyond me

 

They paid about a 25% premium based on stock price closing before deal was announced. I'd hardly call that a lowball.

 

I guess we'll see what we see..........

 

I'm curious... Are our jobs safe??.

 

You call 8% turnover a high turnover rate?

 

So do the drivers have to worry about losing jobs..pay..or benefits

 

Con-way Freight has 8% turnover. Truckload has 55%.(According to what Bradley Jacobs(CEO of XPO) said on the investor conference call.)

In regards to whether the truckload drivers have to worry about anything I would say probably not. But on the freight side.. I would say who knows. No-one knows at all. The acquisition is suppose to be completed sometime in October. I'd say around the 20th or so.. I say around the 20th because after the announcement of the acquisition there is a 20 day period of review or whatever.

But the freight side still has customers to take care of and freight to transport. I just am really curious what XPO is going to do to the freight linehaul runs. I believe it'll still be sort-of the same but who knows. I cannot wait to see them change all the trucks/trailers to XPO that is going to be such a lengthy process. and uniforms.. I guess we'll know when the dispatcher or whoever at your terminal starts wanting your uniform sizes and such.

 

I don't know about LTL. Read a article about this buyout. XPO also just bought a big European trucking company as well. It said they wanted to keep more of the revenue stream and instead of starting a truckload company it was better to buy one. Also they previously tried to buy Menlo logistics. But it seems to me if this true it should mean more freight availability with the combination of both logistics divisions. Nothing was said about pay structure or benefits. So as far as that goes it's anybodys guess.

 

I think if this wasn't such a high-profile competitive market we'd have more leaks of information but I bet they won't say anything until the acquisition is complete. I'd say they are afraid of the various city drivers, customers, and such all going in a big uproar. After listening to the conference call though I believe the changes will be swift and quick not slow and drawn out, but who knows. Its all speculation..