Celadon on the ropes...

Discussion in 'Celadon' started by double yellow, May 3, 2017.

  1. x1Heavy

    x1Heavy Road Train Member

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  3. laaylor

    laaylor Road Train Member

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    I’m good: I have Many job offers: just weeding thru them, now.. thanks! I planned for this: have a car in Indy and $$$$ saved... thanks you guys!
     
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  4. LtlAnonymous

    LtlAnonymous Road Train Member

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    Very good to hear. Land on those feet.
     
  5. x1Heavy

    x1Heavy Road Train Member

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    White County, Arkansas
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    HA. Came to Arkansas eventually with a good car purchased for a little bit of my tax returns. Ok, alot of it that year. It was a really good car for what it was. *Sniffs However being a GM, it constantly sat in the shop eating a thousand dollars worth of work several times a year. It was disgusting. We sold it because we either had a POS car or the shop was really good at scaring us with fix it stuff. I go out there and make them prove to my lying eyes that yes the lines are busted. (Makes me wonder if they busted them before running out to me...) What a trip.
     
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  6. Tai

    Tai Medium Load Member

    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.
  7. Bean Jr.

    Bean Jr. Road Train Member

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    I majored in in finance in 1991. From 1993-1997, I was out of the country and not paying any attention to the market. I came back in December, and started paying attention and asked "what in the wide wide world of sports is a goin' on here?" I know, it was trying to create a presence in the .com world, but without revenue, how can you price a stock for an IPO? This was crazy! And I was right. The bubble burst. We're seeing it again, and the collapse of some of these companies who have yet to make a profit is coming soon.
     
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  8. DUNE-T

    DUNE-T Road Train Member

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    Wework is a bust already, I wonder who is next
     
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  9. x1Heavy

    x1Heavy Road Train Member

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    White County, Arkansas
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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 Highways
     
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  10. Bean Jr.

    Bean Jr. Road Train Member

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    I was listening to the noon business hour on WBBM. They were discussing Uber's problems, but more importantly how it was going to affect other companies poised for the IPO. They anticipated that 2020 won't be a good year for them.
     
    bzinger Thanks this.
  11. Whyte Trashe

    Whyte Trashe Light Load Member

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    Charlotte, N.C
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    It’s not about revenue; it’s about however far people are willing to let themselves be lead to believe in something.

    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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