What if it Snows?
Discussion in 'Questions From New Drivers' started by Dave_in_AZ, Mar 19, 2018.
Page 2509 of 23167
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Celeadon found itself in trouble for mismanagement of its assets. Basically inflating a used trucks value to trade for newer trucks, while claiming to investors that the truck value was a loss.WesternPlains, gentleroger, D.Tibbitt and 1 other person Thank this. -
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Long story short some of the executives were playing a shell game with money and debt. Allowed them to get paid big bonuses. Now the fees and fines are going to suck the company down the toilet cause they have no cash reserves and most of the shady corporate lenders wont lend to them because they have already been burned.
My bet is one of those investment/Capital groups buys them up and does a clear cutting of the management.
Other than the underhanded financial management they were a viable trucking company.
Pretty sure I have seen they sold off the leasing company (Quality) when the debt story broke over a year ago. Second quarter of 2017 was when the financial hit happened. So the past 3 years have been death spasms.
Celadon reveals income likely misreported by $250 million in recent years, stock trading haltedWesternPlains, D.Tibbitt, dwells40 and 2 others Thank this. -
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might have been a lil moisture in the tank lol.... maybe
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