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Central freight line closed after 96 years

Discussion in 'Other News' started by Opus, Dec 12, 2021.

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  1. Dec 12, 2021 #1
    Opus

    Opus Road Train Member

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    Exclusive: Central freight line closed after 96 years - Autobala

    “Central Freight is in talks to sell a significant portion of its equipment,” the company said in a statement. “In addition, Central Freight coordinates with LTL carriers in other regions to provide employees with the opportunity to apply for other LTL jobs in that region.”

    Gee, wonder who that could be????

    Knight-Swift Transportation Acquires AAA Cooper
    Knight-Swift Transportation Purchases RAC MME Holdings

    “We are excited to welcome MME to the Knight-Swift organization,” Knight-Swift CEO Dave Jackson said. “MME is our next step toward a nationwide LTL network.
     
    Opus, Dec 12, 2021
    Opus, Dec 12, 2021
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  3. Dec 12, 2021 #2
    Hammer166

    Hammer166 Crusty Information Officer

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    Well, since Central Freight is owned by Jerry Moyes (former Swift CEO) I wouldn't be surprised to see something similar to the whole Dick Simon to Central Refrigerated trick.

    For those who don't remember, Simon's assets were purchased from court by Moyes immediately after Simon filed bankruptcy, and presto-magico a new company with all the same employees appeared the next day, with no ties to the old company. Central Refrigerated was later sold by Moyes to Swift.
     
    Hammer166, Dec 12, 2021
    Hammer166, Dec 12, 2021
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  4. Dec 12, 2021 #3
    Opus

    Opus Road Train Member

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    Right. Look, if you can't make money in the current environment, you know absolutely nothing about the freight business.
    ODFL is operating in the low 80's and YRCW is actually starting to show a profit on moving freight, (rather than selling real estate).

    If Knight / Swift buys selected properties and equipment, then they acquire a company with no debt. Sell off the rest and pay investors pennies on the dollar with the proceeds.

    Moyes is a slick rascal and this ain't his first rodeo.
     
    Opus, Dec 12, 2021
    Opus, Dec 12, 2021
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  5. Dec 12, 2021 #4
    ibcalm19

    ibcalm19 Road Train Member

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    "Round & round I'm going in circles". That seems to be their motto they just keep circling the wagons
     
    ibcalm19, Dec 12, 2021
    ibcalm19, Dec 12, 2021
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  7. Dec 12, 2021 #5
    Flat Earth Trucker

    Flat Earth Trucker Road Train Member

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    That is not crusty information, that is stinky information. :Transportation cost
     
    Flat Earth Trucker, Dec 12, 2021
    Flat Earth Trucker, Dec 12, 2021
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  8. Dec 12, 2021 #6
    Hammer166

    Hammer166 Crusty Information Officer

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    SmartSelect_20211212-121946_Google.jpg

    What he did must have been legal, but it sure was sketchy. I'm sure the creditors of Dick Simon weren't real amused, nor the judge. He paid a fraction of the true value for the assets, and basically reopened the company under the new name overnight with the debt washed away and no bankruptcy hanging over it.
     
    Hammer166, Dec 12, 2021
    Hammer166, Dec 12, 2021
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  9. Dec 12, 2021 #7
    Chinatown

    Chinatown Road Train Member

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    Company Driver Trucking Jobs | Simon Transport
    Company Driver Trucking Jobs | Simon Transport
    REQUIREMENTS
    • Must live in Utah
    • Must have 24 months (2 years) of OTR experience

    [​IMG]
     
    Chinatown, Dec 12, 2021
    Chinatown, Dec 12, 2021
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  10. Dec 12, 2021 #9
    Bill51

    Bill51 Road Train Member

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    Having talked to drivers from a number of LTL companies in the past few months, except for a very small operation in the area, they are all backed up with freight.
    I agree. Seems odd any decent sized LTL would go out of business right now.
     
    Bill51, Dec 12, 2021
    Bill51, Dec 12, 2021
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  11. Dec 12, 2021 #9
    Hammer166

    Hammer166 Crusty Information Officer

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    Hammer166, Dec 12, 2021
    Hammer166, Dec 12, 2021
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  12. Dec 12, 2021 #10
    Chinatown

    Chinatown Road Train Member

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    1. FreightWaves Classics: Dick Simon Trucking, Inc. had a ...
      https://www.freightwaves.com/news/freightwaves...Nov 19, 2020 · The company trailers were painted with skunks holding “Sweet Simon” flags, saluting a large perfume account that had given the company’s …
    upload_2021-12-12_11-50-37.jpeg .[​IMG]
     
    Chinatown, Dec 12, 2021
    Chinatown, Dec 12, 2021
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    Pamela1990 and Flat Earth Trucker Thank this.
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