Flying J files for chapter 11 protection

That is their problem, they bought a bunch of Chinese crap to sell in the store at an extremely inflated price! now they have money out on it and the bank won't loan them money
to pay the help.

 

I saw on another forum that they were playing in the oil speculation market and got caught with the higher prices.

 

the chinese food sux big time...the pizza is ok in some places...but both are overpriced for what you get....:smt078they should have invested in dunkin donuts and done better!
i will say this..they have better crappers than the TA or loves......and most are cleaner....

 

I read the report on how they purchased Oil at 140 per barrel and filled their refineries with it Now it needs paid for.

 

If that is true, whomever made that decision should be fired. When prices go up as quickly as they did I would only buy on an as-needed basis and hedge my future needs on the way up. If wrong, the bite out of profits wouldn't be significant (not like buying it all the top ).

 

They are not the only ones. Many school districts and others did the same. When playing the futures, especially with hard purchases, there is always a minimal margin of error. Now they have to sell that fuel at the market price, taking a huge hit. Live by the sword, die by the sword. I thought that Conoco had a huge position in flying J. Maybe they got out of it. If so, excellent timing.

 

When the President opened things up for us to do more exploring, etc. I made a statement back then that the price would come down on oil. and it did. I remembered being laughed at. Hmmm The last thing OPEC wants is for us to pump our own oil. and to use our own oil, They can afford to have the prices down. Keeps us from using ours. but as Soon as Obama gets in there, and Other Countries relize that he won't let us use our own oil, those prices will explode to the levels they were last summer. Now would be the time to fill those big tanks.

 

I had coffee this morning at the J in Haubstadt, IN with another member of this forum. I'd have to agree with RoadMedic that this was most likely weather related.

 

the flying j in jersey yesterday was out of fuel

 

Yes I have found it was, Ice kept workers and the Truck from getting in so they shut down along with another one according to him.