Celadon on the ropes...

That's what happens when you lease internationals, file as though they are sold but still have to eat the depretiation. We all know nothing loses value like a International. They somehow found it to be a good idea to offer walk away leases on them.
They might survive but just servicing the debt is putting a tremendous squeeze on that at this point. Almost a classic study study of a good company that decided to get just a little greedy and got stuck with it's hand in the cookie jar.
Hope it works out for their drivers, but this ugly and somewhat predictable.

 

Do you think they will be the subject of a made for TV corporate drama?

 

My question is, will they have the decency to aware drivers before it ends. 5 or 6 years ago I gave a driver at New Century a ride from the flying j in richmond VA to his house in Delaware. Dude had a 4 year old and a new one on the way. He was more worried about explaining to his wife there would be no paycheck. I ended up giving him 100 bucks. He payed me back five weeks later. Lol. We have been freinds ever since. It's a dirty business.

 

No this is another one because of the recent statement that celadon released about Restating their earnings reports

 

They did that last year when they ran everybody off

 

Going Long and Short on stocks--

 

Oooops I shorted it!