Swift stock is crashing, blames it on them losing drivers and driver shortage

No, there will be no H1 b visas for truck drivers my friend. H1b visas are only for skilled occupations. Truck driving is classified as an unskilled occupation by the united states government, because it is. Training used to be, "There is your truck Bill, drive to Chicago and call us when you get there." That was it. Driving a truck isn't a skill. It's just a job, that's all.

 

Not if they haul freight for cheap rates which a lot of mega companies do. If this is the case I hope they do go broke !

 

That is why truck driving jobs are classified under "general employment".

 

Which is stupid, why would someone pay you more than the going rate just to cover what they didn't own? Should be criminal.

 

Short interest: http://www.nasdaq.com/symbol/swft/short-interest

Short interest exploded October 2013 from 8-millionish shares short daily to 27 million shares short. Level as of 7/15, almost 14 million about half that. Bet it's dropped a lot further as short sellers covered when stock dropped recently and likely made REALLY BIG $$. Would take some research to see what was announced last October...

 

to say the stock is crashing is a little much. Look at the overall market and it looks like we are in a correction mode.

 

Double Yellow pointed that out, too. He just didn't say it outright.

Guidance on Swift is bullish, in fact.

Interesting thing because these recent announcements tell stockholders, the market and investors that the end of the year's going to be flat due to large amount of cash to be diverted to drivers. In fact, it sounds like a recruiter talking, get trained by Swift, hire on and eventually retire there. Sounds laughable right now.

But when an outfit with 18,000 seats (according to CSA, haven't found any numbers from Swift yet, they've sold and made a lot money disposing of 'unseated' trucks) steps up to the plate and says our investment in our drivers is our most important investment, even if Swift fails to follow through, there's an impact. CSA has helped improve truck maintenance, for one.

High-profile accidents recently have highlighted to the public that trucking companies should be held accountable. I see terrible driving, unsafe driving literally every day. You think about the guys so tired they can barely walk into the TS. You want your wife, your kids, your brother, your best friend on the road next to these people?? Get this. They are. And so are you and I.

Swift is also saying that Swift's customers are going to have to belly up to the bar and pay the freight that will buy Swift drivers a better life. This is big. Will it be successful??

Who knows. Swift is announcing that it will cull customers who do not improve their rates to Swift so that Swift can improve the lot of their drivers.

 

SWFT took a hit, no one's disputing that. You're right.

 

Thats because they're paying 35,000 a year if your lucky
for a 65 to 75 grand a year job.