Sni IPO profile.

Then again that's begs the question of why they'd hold back freight from us to give to company trucks.

 

The part the Mickeyrat quoted was from the "risks" section. It doesn't mean that SNI thinks it will happen, but it's a risk and they have to inform prospective investors of the potential downside.

 

Because, by putting the higher paying freight onto the company trucks the profit percentage per company truck rises.

By having O/O trucks haul the cheaper freight, they not only differ cost to us they also still get a 35% profit margin.

See its about numbers, no matter what the % of profit from the O/O is always 35. So it's about raising the % for the company trucks.

 

More like 50% @TennMan, 35% is the lie they tell you to make it feel better.

 

I don't know what to make of the IC compensation part. It almost sounds like it is not as cut and dry as 65 percent of the load as some suspected. Comes across to me as the ability to manipulate IC earnings based on driver shortages or surplus which would explain the past year or so. It's above my pay grade and maybe I'm cynical but 65% is 65℅ unless........

 

Unless you're able to take whatever you want off the top before 65% pay out.

Say you've got a load that pays $1000. Logistics takes $400, SNI takes $210, you get $390. All nice and legal too.

 

I wouldn't read too much into the "risk" section of an IPO filing. They are required to try and come up with downside scenarios and to inform prospective investors of the possible downsides of their business. I don't believe they rely on IC's any more than any other Mega does.

 

Still doesn't make sense to me they'd pump the number of IC's up, then starve them out.

 

That's the reason they lowered the entry requirements to choice down to 6 months of driving experience total.

Schneider wants company driver to IC converts. If they "pick their freight, own a truck and bring home 6 hundred instead of 500 a week" that's a step up from company driver in some drivers eyes.