ATS were minority holders in Warren for a number of years. When Bob Molinaro was buying Warren back from the company that almost put it put it out of business, he needed help getting it done. Anderson jumped in to help, because that way they could tap in to the John Deere loads. Warren had a stranglehold on them for years. Bob Molinaro was the end all, supreme ruler where Warren was concerned and not beholden to the ATS board. The agreement was that after Molinaro died, other officers at Warren would be able to buy out what Molinaro owned. If they couldn't do it, after a certain amount time, Anderson would then buy enough of the stock from Bob's widow, to take over majority control. That's what happened.
The downside is where drivers could get financial help if they had issues, that's much harder to do now. Bob wanted all of his contractors to succeed. If a major repair had to happen and the driver needed extra to pay the bill, Molinaro would grant an advance to help him, then deduct it from his settlement. But he was also EXTREMELY stingy with his money. They had trailers on the road that were extremely old and falling apart. Once ATS took over, they started to overhaul the entire trailer fleet, van and machinery.
Overall, there is still quite a bit of local control, but anything major has to be authorized by ATS.
Is this true
Discussion in 'Flatbed Trucking Forum' started by spacetrucker88, Jun 2, 2013.
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