Heartland/Gordon takes massive 11.9% hit in profit since this time last year

Does this mean the major shareholder better hold off on buying that 5th Ferrari?

 

I would bet that this is due to the massive lose of Gordon contracts with companies not renewing those contracts because they want nothing to do with HeartLand.

 

You nailed it on the head. I've seen at least a half dozen major Gordon accounts lost on the west coast in the last 7 months. Those companies hate Heartland and won't do business with them.

 

They lost the gp dedicated, anheuser busch dedicated, and target dedicated and all in the nw....

 

They are debt free arent they? A few mil lost is not going to be a issue.

You cannot ever get lost money back no matter how hard you work. Drivers are a dime a dozen. Immigrants a potential source of income from Uncle Sam far greater than what it cost to hire them me thinks.

Is the company public or private? There is a yuge difference between the two.

 

Any time a company buys out another company, they don't keep all the contracts. Had a boss at an old company say they expect to lose 40% of the contracts they acquire in a buyout. It usually isn't about "hate". It's about that shipper considering it a convenient time to reevaluate their transportation contracts.

 

Heartland has a no chain up policy so with that being said buying a company out of the Pacific Northwest with that idiotic policy was asinine and that more than likely led to the cancellation of a contract simply because Heartland could deliver the loads on time or at least in a reasonable amount of time

 

I agree with you BUT, Heartland has been going out of their way to lose some of these customers. Clients like GP require high cube trailers and Heartland is phasing them out for only low cubes. Lately they have been laying off most of their day cab drivers and expecting the OTR drivers to pick up the slack for little pay. These short hauls with live load/unloads take up the entire day and we get paid by the mile not the hour. It seems as though they bought Gordon only for the real estate and not for the client base.

 

Actually Heartless has been coming to their senses lately in a way. I have been seeing new high cube Heartless trailers slowly showing up in the yards.