Cliff's Announcement and Company Transition

yeah well cant win for losing on here

 

But that takes all the fun out it.

 

Worrying about that that you can't control is pointless I agree 100%. As I have made clear in several previous posts. Don't go off half ####ed and do something stupid at this point! The company might find another lender that will give them some financial breathing room so the company can grow. Right now it's all about being smart. Do your best to keep your tanks full, make sure you have sufficient cash to survive IF things do go bad. Keep looking for a company announcement about another lender. Based on my conversations with several people that understand the (business) part of the trucking business, the future of USA Truck is all in on finding such a lender. If no announcement is made by the end of September I would then start to be concerned. I still have friends that work there. All of the drivers I went through upgrage with there are now gone, but I developed friendships and still speak with them from time to time. Actually I would love to see the company overcome this and pay off this debt. I just have no confidence it will happen with this current board and management.

 

No one here is really citing what market analysts think they are citing what Cliff himself has stated in the regulatory filings. Sure expanding terminals is necessary, but so is paying your debts. Something big is going to happen in the coming months.

 

Thinking that things will work out, is just plain foolishness !!

Why put YOUR financial well-being on the line.

I'd find a new job now,

instead of waiting until December 24th !!!!

 

What happens on the 24th? That when the aztec calender says the worlds gonna end?
Im not buying all this doom and gloom nonsense. I was reading about the downfall of arrow (from a link posted in this thread) and one of the stories describes how arrow at the time couldn't afford to pay its bills. Fuel, mechanics or anything BEFORE it shut down.

Usa is still buying trucks and trailers, it gave all the people -1 years exp a raise, the guaranteed $600 a week thing for new hires.

 

Best of Luck...........

 

Yep, they sure are! And borrowing money from the bank to finance them. This credit line has run OUT because they are out of compliance with their credit covenants and the company already has paid a $100,000 penalty because of it, with another $300,000 penalty coming up in a few short weeks.

 

I feel the need to add something here. There is a huge difference between worry and being prepared. Being prepared means you are aware of the impending issues and have protected yourself against any bad outcomes. This means doing your best to keep your tanks as full as possible, and keeping enough money on you to survive on. It also means having an idea where you want to go once the dust settles. 2000+ drivers going on the driver market at nearly the same time might cause some slow downs. At this point the best thing every driver can do is go about your business and do your job to the best of your ability. To worry about this is counter productive because there are things way above your pay grade at play here. As I type this the USA Truck stock is trading a bit below $4 ($3.76) a share, not good at all.