Heads up re: Knight-Swift

Discussion in 'Report A BAD Trucking Company Here' started by Owner-Operator-2005, Nov 18, 2018.

  1. Owner-Operator-2005

    Owner-Operator-2005 Bobtail Member

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    Here's some information I gathered from the "inter-web".
    Just read that Knight-Swift are pretty desperate to get drivers to fill up their empty trucks.

    Yes, good point.

    1. It is now Knight-Swift (2017 merger)
    2. Knight bought Barr-Nunn (2014)
    3. Knight bought Abilene Motor Express (2014)

    "Western Express claims that it was forced to default on a loan covenant with its lenders, which required them to enter a consulting agreement with Knight Management Services Inc., and enter into a stock option investor rights agreement with Knight Capital Growth Inc., as well as "enter amendments and waivers to their credit facilities with JP Morgan Chase and Key Principal Partners.

    Knight Management Services and Knight Capital Growth are subsidiaries of Phoenix-based and publicy traded
    Knight Transportation, which runs a big terminal in Lebanon, Tennessee."
     
    Last edited by a moderator: Nov 23, 2018
    Reason for edit: Reference to religion.
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  3. otterinthewater

    otterinthewater Road Train Member

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    Wait. What? Western Express is going to be part of that group?

    Link please.
     
  4. SHOJim

    SHOJim Road Train Member

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    Aren’t there any pagan trucking companies left?
     
  5. Metallica88

    Metallica88 Medium Load Member

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    It's almost like these Megas are getting too big for their own good.
     
  6. SHOJim

    SHOJim Road Train Member

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    Heathen Freight Lines, Columbus Ohio
     
  7. SHOJim

    SHOJim Road Train Member

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    It’s like mega toilet paper rolls. Too big and bulky
     
  8. BIF MALIBU

    BIF MALIBU Heavy Load Member

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    might be alot less bs real trucking you get with a russian outfit that makes its payroll
     
  9. bigblue19

    bigblue19 Road Train Member

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    In 2013 they put the screws to USA Truck just like Western Express. They started buying up the company stocks when it was weak. They got sued in a hostile takeover bid by USA & I guess they didn't think pathetic little USA was worth it & backed off.
    USA has since hired a former TDOT lawyer as a VP named get this, Katherine Knight.
    Knight bought 12.5% of the company in 2013 at $6 per share & sold half of them 2yrs later at $24-28 per share.
    Say what you want about Mormonism, but when it comes to business & real estate you could learn a lot
     
  10. Owner-Operator-2005

    Owner-Operator-2005 Bobtail Member

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    I don't want to learn how to abuse-exploit companies or people.

    I've read the same things about Knight-Swift questionable/immoral business tactics.
    I do not approve of "knight-swift put the screws to USA Truck" .... "just like Western Express." On an individual or corporate level, it is wrong to exploit someone's temporary weakness through immoral business tactics .... (hostile takeovers or force buyouts .... etc.).

    Here's the Knight-Swift driver shortage / empty truck seats report:

    Dave Jackson, CEO of Knight-Swift Transportation Holdings, said ....

    “Freight demand was generally strong across our network on a better-than-seasonal basis throughout the quarter,” he said in a statement on April 25, 2018. “At the same time, given tight unemployment and our uncompromising commitment to safety, we continue to face perhaps the most difficult driver-sourcing challenge we have seen, which is a headwind on our unseated truck count and utilization metrics.”
    Knight-Swift Reports ‘Progress’ With Merger, Sees Challenges in Getting Enough Drivers
     
    Last edited by a moderator: Nov 23, 2018
    Reason for edit: removed religious reference
  11. mjd4277

    mjd4277 Road Train Member

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    Just 1099 outfits. You can pretty much sell your soul or firstborn working for those...;)
     
    SHOJim Thanks this.
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