Zero hedge compiles additional information such as the current CASS Index on trucking.
Its a little bit dated and situation will develop economically.
Major Freight Carrier Bankrupted, Leaving 3,000 Truckers Jobless, Many Stranded On Highways
Celadon on the ropes...
Discussion in 'Celadon' started by double yellow, May 3, 2017.
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So the Canadian yard in Ontario has been busy with trucks running in to grab trailers and running them south. (Unsure if loaded or empties, or both.)
I'm just depressed. Hyndman was an 82 year old company with a 4 digit DOT number. I hope someone buys it up to save a piece of Canadian trucking history.bzinger, Jarhed1964, x1Heavy and 4 others Thank this. -
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Ok Article has been updated there is two bits of information that Company is blaming for their eventual collapse.
**SNIP**
The collapse of Celadon comes after a grand jury indicted two former executives for cooking the books.
Last week, U.S. Attorney Josh Minkler announced the indictment of former COO William Meek and former CFO Bobby Peavler. Both are facing wire fraud, securities fraud, and conspiracy to commit fraud.
As previously reported, the manufacturing recession triggered a freight slowdown in 2019.
*SNIP**
Source link to full article. Cass Index shows a complete and utter fubar not seen since the Obama Adminstration.
Whats worse it seems the 3200 drivers and 500 staffers are left on their own naked and shivering in the cold outside doomed to not make it home for the holidays in some cases. They are the last to know whats coming down the track. In short Drivers know nothing. Its always has been this way.
So the USA People is organizing what little they can and will share through dinners and transport here and there. We have usually been generous when possible. And apparently this has been the largest event in trucking so far. (Can you imagine JBH going Poof and leaving approx 20,000 out of work within the hour?"
Major Freight Carrier Bankrupted, Leaving 3,000 Truckers Jobless, Many Stranded On HighwaysJarhed1964 Thanks this. -
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Revenue, ethics, values, priorities and most of our general likes and dislikes are all byproducts of whatever a current majority happens to be peddling at any particular time; and whatever select strings that a few really rich guys at ‘the top’ happen to be pulling.
We live in a society based on Bee Ess... That goes for our monetary system, company stock values, all religion, our military, all our choices for the U.S. President, our work ethics, most news media, much healthcare, and our educational system.x1Heavy and Knucklehead Thank this.
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