FedEx custom critical or Celadon Trucking???????

Celadon just announced there cutting back on O/O. Check out the article in Overdrive magazine.

 

I wouldn't go near Celadon.. I believe that is a sinking ship

 

Celadon isn't paying their bills on what they broker out. You guys out there working spot freight be leary and don't book anything they broker on the usual terms.

 

https://www.google.com/amp/s/seekin...e/4060487-celadon-group-story-ends-chapter-11

Not only did they cook the books, seems like they went past extra crispy

 

There is a lot to read there, and it is all bad.
Highlights:
Report says Quality Leasing ordered 13,000 new trucks in 2015 for $1.5 billion. Then the used truck market nose dived in 2016.
Report says company run by a bunch of "frat boys". Report calls their board of directors "incestuous".
And again, Report compares their accounting shenanigans to Enron.

 

Just keep in mind, this report was created for a short position. I'm not saying what's in it isn't true, but just realize where it's coming from and why the report was issued in the first place.

 

Sounds like it goes back even farther to 2011. It may be written for shorts but if only 1/4 of that stuff is true they are in deep.

 

I didn't mean to imply that the information wasn't true, just that it may be bad, but the report will make it look like a doomsday so the stock falls all the way.


To the OP, did you not do any scouting of companies before you bought the truck?


I see these posts all the time....."I just bought a truck, now where should I lease it to". It would make a lot more sense to actually have a game plan before you buy the truck.