Crete Going Out of Business?

Crete is a privately-held company so its anybody's guess as to how well they are doing.

 

Where did you get your information? Or are you just guessing because trucks are in the yard? And remember it’s a holiday and guys and gals are home.. Not a good rumor to start without facts..

 

Since he has been seeing this more than just one time, over a period of weeks, I would think it is an honest question.

 

Selling off a lot of tractors getting new ones in.

 

Yeah I kinda wondered about all the tractors sitting there too. Pass by that one a lot and last couple months there's been a lot of them sitting on the yard there every time I go by.......though the turnover from old to new is a plausible explanation as they're always bright and shiny. Either well washed or brand new. Never notice if they're the same ones or not but sure are a bunch of them sitting there every time I go by.

 

I guess we know where Suptrkr works.

 

You are talking about the Lenoir City, TN terminal I presume. Everything Crete does is already paid for, as unlike most over the road companies, Crete pays cash for all their facilities and all their tractors and trailers. Indeed, they even use their own operating cash to run their business and don't owe money to anyone or to any institution, as they are a 100 percent debt free company.

They are also one of the few trucking companies out there that has a profit sharing program for all their employees with at least one year under their belt, on top of their 401K, and they pay some of the highest wages in the industry with first class benefits. Trust me, Crete isn't going anywhere but up. By the way, their equipment is really top notch as well.