A company fighting to stay liquid or going out of business

If this is about FFE I would say that they are going out of business or being sold it is a matter of time.

Any other company I wouldn't worry too much about it. Could be that they are not being utilized very often. As far as a payroll company writing checks that isn't necessarily a cause to be overly concerned. I think a drastic change in fueling policies, checks bouncing, or a reduction in services would be more of a big red flag that it might be time to jump ship.

 

If UR not happy,waiting for this weeks pay next week,paying for prepass,this is a co. expense, not URS.U would shutter to realize what they make off these loads,and U.......It's a cut throat industry. what they pay U is pocket change.U best U can do is find a honest co. that won't take U completely to the bank.In My opinion,anyone is willing to stay on the road 2-3wks or more,should make at least $1200wk.....I have feeling,at times,there is hard core mgtment responding......

 

I think you may be kidding yourself if you think companies are making a killing these days. Overhead can be very high with the cost of fuel and all the CARB upgrades etc. Smaller companies are probably doing better because of the lower overhead.

 

Any other company I wouldn't worry too much about it Today you better worry about 65% of the outfits running the highway as being tight for $

 

Something is definitely going down at ffe. I'm jumping ship before the ship goes down.

 

$1200 a week is great for a company driver. But I jumped ship from Star Transportation because that's what I was averaging as an o/o.

 

Which Star Transportation are you speaking of, is it the one in Morton Illinois?

 

The blue Star, from Nashville, TN

 

not that I would defend FFE by any means. I hate this company but on the whole they've been an okay starter company, I'm not dealing with C&R but I regret passing up Prime.

That being said, I expected the same thing back around September. That being very early on in my contract (3-4 months) I was rooting for them to tank hoping I'd get out of my contract. Their market capital slipped to under $15,000,000 and their shares were taking 1% hits EVERY DAY. Then it almost happened. ALMOST- in November of `12, fifteen percent of the companies capital flew out the door in FIVE DAYS.

They started bouncing back in January, and have actually been doing really well since then, almost doubling what they were worth not even four months ago.


EDIT-

I forgot to mention a few small things.

They began offering guaranteed services through their fairly successful LTL buisness, as well as beefing up their oil field water delivery services.

FFE was hemorrhaging small/medium clients due to several alerts on their company CSA which they have since recovered from. They managed to keep their major clients (Hershy/Mars, Alcon, Excell, proctor and gamble, unilever ect ect) though with many threats from almost all of them to cancel contracts UNLESS FFE began implementing serious measures to turn their driver saftey/fitness performances around- they have since experienced major successes from programs to make sure their drivers are up to snuff on their paperwork and licenses.

FFE lost compliance with the NASDAQ making it very hard to buy, sell and otherwise trade stocks and shares in the company which was a major cause of concern for their shareholders (a good number jumped ship due to this. but FFE regained compliance in February.)