GDS Express Closes it's doors

Wow, another one!
It saddens me whenever I hear this type of news, I hope drivers could clear their last paycheck and now having good time with family these holidays.

 

Vehicle Out of Service % 25.1% Along with being involved in a fatality could have something to do with it.

 

A company with 75 trucks and 75 drivers is considered mid-size?

What are the definitions of small, mid and large?
I guess you could add a fourth as mega.

 

Profitable every year and yet it ceased operations. Sounds like the company was grossly mismanaged,like Celadon.

 

I read an article that said the son ran it in the ground when he got it. Sound familiar?

 

yeah and Enron was so profitable on paper that the stock was the darling of Wall Street for years

 

Seems to be a Big business trend in the last 20 years. Not just trucking. Companies get handed off to the next generation or to some shady wall st investment group” (Paul Singer and Eddie Lampert come to mind) and ran straight into the ground. The workers get screwed, and the people at the top run away with all the money.

 

EOG says, what's up

 

Fleetwood Transportation a fleet of 240 out of Texas also closed its doors for good this past Dec 31st.
Insurance costs was the reason why they shut it down.