Flying J files for chapter 11 protection

I recall a trucker on here earler in the year was saying that Flying-J was getting $6 for a pint of Ice Cream..

Well when you take customers for a ride like that how do they expect to stay afloat

 

How about $2 for a gallon of water ? Everything in the store is way overpriced . They get no sympathy from me .

 

I aggree with you there..I have not been to a Flying-J In 10 years and have in reason to start going back there ether

 

The TA up in Ft. Bridger was out last week apparently and I have no clue how they get their fuel.

Either way...I've basically heard that they got hit hard in the speculation market...they bought high and now its killing them because they have a bunch of fuel at a very high price, and filing for bankruptcy voids that contract for the fuel.

I can't pick on em for doing that...a lot of other companies (like...ALL of the big trucking companies) played the speculation game, bought fuel at X price, so that if fuel did go up, theyd be locked in. With the rate that fuel was going up...Flying J made probably the best decision they could at the time.

I also heard that a couple of their stops were closed...haven't heard much else about that tho.

 

On Christmas Eve Day 2008, I heard that Flying J had declared bankruptcy that prior Monday. What's to become of "the Hook"?

 

Here is a link to a good new article about it's plans, just like every one else the got caught in the wrong market for too long and it bit them, I feel their pain in as much as I have some real estate that I wanted to sell and now can't get anything for it. I won't go bankrupt but still have allot less on my asset side of my balance sheet than I had before and no place to sell it. Really screws with the liquidity. When I didn't want any loans from people they were offering them to me almost every day, now the bank laugh at my assets saying I don't have enough to secure the loans and I don't even owe any money on one piece!

Well all get through this just like the 70's 80's 90's and oh yeah the early 2000's.

http://www.sltrib.com/ci_11288757

 

WOW, I was caught off guard by this one myself. Flying J really wasn't too bad, just their restaurants sucked.

 

I haven't read all the post's so this may have been covered, but I heard on XM radio back when fuel was higher they signed a contract to buy fuel for 3 bucks a gallon. Now that fuel is down they are trying to get out of the contract.

 

only thing i like at the J-buffet is the breakfast. although it IS hard to screw up bacon and eggs.

 

Wanna bet? I've had my bacon and eggs screwed up plenty of times!