Double Yellow's Company Driver to Independent Thread

Celadon closed at 4 dollars even today. Man oh man why did i get scared and sell at 2.25! I would of made another 30 grand had i held it. That buys a lot of chrome. @#$& me!

 

How is Celadon doing? As a company

 

I need to call you and harass your landlord rear end some time - see what you’re into.

Odds are, you’ll buy another truck and get rolling after you get bored.

Still making the most out of the oversize flags, banners and lights you gifted me at the start.

Regards, Blair.

 

So happy this threads still breathes. Likely my most favorite thread on the entire site.

 

I agree %100. This thread was the most informative and accurate information I found regarding starting my trucking adventures. Including the end of it.

It's a shame he bowed out in the end but, an important point to the whole story.

 

So true.

 

I feel like this post is simply the most amazing thing I've read on TTR.

 

Bankruptcy can have unexpected results, on both sides of the fence. I used to sell ski clothing seconds. One of my biggest customers had a traveling road show, where he would rent space in a city, bring in lots of skiis, boots, poles, and clothing and take out full page ads in the local paper. After a few weeks, when sales started to slow, he would pull up stakes and move to another city.

He stiffed my company for $50K on a shipment of clothes. After that we of course cut him off, denying him an important source of brand name merchandise.

THEN he brought his traveling road show to my city and begged me to let him have merchandise. I made a deal. He had to pay up the $50K WITH interest and THEN we would place ALL of our merchandise in his "store" AND at the end of every day we would conduct an inventory and get cash payment for anything sold. It would all be on consignment basis.

He went for the deal and paid the $50K plus interest.

Things went well for two weeks. Then one day as my fellow employee and I were doing an inventory we overheard one of his employees talking about bringing trucks in that night to move the show to another city.

We collected our cash for that day's sales, then I rented a truck and took all our merchandise out before he could steal it.

Sweet deal, right?

He declared bankruptcy the next week. No problem for US, right?

Wrong.

A month later the trustee contacted us and demanded the $50K plus interest. Any full payment within six months of a business bankruptcy has to get raked back to the trustee. THEN that gets divided among all the parties that are owed money. We eventually received $4K. But at least we were $4K to the good AND got to keep the proceeds of the consignment sales.

 

Truth bomb...I need to meditate and digest this for a while.