Celadon on the ropes...

well, with having to restate 5 years worth of earnings and projecting a $250 million loss, there's just not enough lipstick for that.
However, Celedon, operationally is a fairly well run company. Given the time and resources, they could recover. I remember the days when the "handwriting was on the walls" for YRC; and they managed to pull it out.
That said, and generally speaking, when the banks are making the kinds of terms they are now making with Celedon, it's usually a sign that they know the days are numbered and they want to be the first in line to get their money. Think about it; if the banks really thought Celedon could / would recover, they wouldn't put such onerous terms on their money; they'd be playing the long game and right now they're playing a very, very short game. Moreover, it's fairly safe to say that the banks are much more "in the loop" as to Celedon's true financial position than the general public; therefore the terms.
Given what has been reported and taking in to consideration the thoughts above, I'd say they're currently in negotiations to be bought. There's really no good reason to simply put them out of business.

One can only hope that the thieves that put them in this position get to share a cell with some of the PFJ folks......they can swap funny stories and stuff.

 

Sound bites? Read some financial articles.

 

There is absolutely huge upside to it. If i had a spare 25k sitting around in the toy peterbilt savings like i did last year id probably buy. But that money and the 100k i made when i sold my celadon stocks is currently sitting in a house and property up in Ohio. I'm certainly not going to dip into my emergency truck fund account or my safe (will moderately safe) retirement funds. I'm very tempted to, even if only 20k $ worth, but I'm not letting myself.

 

Just hold whatever you have. I’m not positive, but, I’m hopeful that Jon and the new administration has got this plan going.. even if we do have to go into a chapter 11; I don’t think he will sell it out. He was a well respected banker in New York( I believe) for many years before his Dad died and he came back into the company to head it up.
Freight is up; I’m staying really busy as a company driver( except, my truck is getting a starter and harness of somekind being put in at International right now! LOL) and, they just invested a lot into all of us drivers: monetarily and support wise. My take home checks have been up 15% since the 1st of the year...
Just saying....

 

You are just a Driver there' s no..We
If they cease operations you will learn you are just a Driver. They the Execs will get the Golden parachutes(millions) and you will get another JOB.

 

Isn’t that anywhere? That’s what happens sometimes when “we” don’t own a company... Being a part of the solution to our problems and supportive when solutions are being attempted might make a difference by the “lowly we” in the company......
I’d much rather attempt to be a positive in a crappy situation than a drama queen feeling sorry for myself....

 

You guys are really a bunch of Debbie Downers. Celedon is great! Never been better.

 

Did you get fuel in Lodi CA Flying J tonite?

 

Sec is after them again.... What this recent news of these earnings restatement...

Celadon, facing SEC investigation, says $200-$250M discrepancy in income reported for recent years