Bankrupt - Eleets Transportation

CHR is one of the best there is. I don't know how true the "you have to haul lots of cheap loads for them until you get a rate" theory is. I do know know that I turned down probably 200 loads from those guys. I always countered with what I thought was fair and reasonable and even if they were $25 below that I refused to book it. They enter every single sylable you utter into their computer and build a profile on your MC. That is how they exploit cheap freight haulers and they do it very well. Mega carriers just use them to relocate trucks for whatever the price and they love that. But if you hold firm on what you need and refuse many, many loads at some point you will come across the agent who has one he has got to get covered, whatever it takes. After many months I found and booked loads like this from various CHR agents. One went up $500 from the original offer which was $200 over my minimum. I have one that pays me $3 a mile on 400 miles every single time. I get the call on that particular load every time it comes available. If I don;t want it my buddy gets the call. If he doesn't want it then it goes to the next driver this guy works with, and so on.. Then eventually out on the loadbaord and gets shoveled off on whatever carrier will take it, some guys will do it for $800. The first time I called on it in fact it was offered to me at $700 and I politely thanked them and said no thanks... Now I haul it whenever I want it. It's part of the whole package. You do customer service better than everyone else and they will knock down your door with freight... You realize that you NEVER need any given load and politely let them know it...

 

Bottom line is when you get in bed with the big banks, you always lose.

Steele is far from a con man and anyone who knows him would speak the same. Guys like Stephen Davie, who was his business partner, is painting a picture of him that is completely inaccurate and I don't want to sit back and see a guy get raked over the coals that helped out so many people as much as he could, including Davie.

 

Sticking by Steele,

Yea I'm sure he's a great guy. I've read great things about Eleets in the past.(sarcasm)

Your great guy stuck it to a bunch of people.

 

StinkySteele, all disrespect intended.


Since you are clueless about how these arrangements with banks work your poor attempt to canonize Steele and make the bank the villan only shows us how management had no concern for anyone but themselves.


I doubt that you will ever get that fighting the bank forced their hand in shutting you down. WF had a vested interest in your success. But they also needed to protect themselves. Keeping the money out of the hands of the people that got the company in trouble was the right thing to do. It is SOP in these cases as is shutting things down when the crooks.


So congratulations on helping shut the place down.


but what really gets me, Steele has stolen assets of the company decreasing mine and everyone else's chances of recovering part of what we are owed. Those accounts that landed him that high dollar job belong to Eleets not him. Only value left was the account base.

 

If Steele is such a stand up guy why did he move a few blocks down and start up a new company and not take responsibility for his old company?

 

Every small business owner who ever opened the books one day and realized the end was near, had a choice. The choice between paying the bank and hoping to borrow more to keep losing money OR using his borrowed money to pay the "little guys" then suffer the consequences of stiffing the bank. If Steele knew the end was coming and he knows what its like to have just enough money to buy fuel for the next load, why did he choose to use his last dollars to make Wells Fargo happy instead of using those last dollars to pay the people who ACTUALLY DID THE WORK??? I understand Wells Fargo deserved to be paid and its wrong to intentionally shirk your responsibility to pay anyone regardless of their financial situation, but if given a choice any compassionate person would realize that three thousand dollars to a one truck owner op is a big deal, its about four seconds of revenue for Wells Fargo.
He is either a stupid person who could not see the writing on the wall or he is an uncaring person who tried to save his own rear end at the expense of dozens of struggling owner ops. Which is it stickingbysteele?
I was faced with that choice in 2009, to this day I get Christmas cards and random phone calls from people I did business with for years. Guess what choice I made when the writing was on the wall. My choice ended my business and destroyed any chance of me getting any business loan for years, my choice also helped dozens of people make truck payments and buy fuel for their next load.
Did Steele do that?

 

This was not a small business owner. What you are describing is called fraud. When someone has first position security and you ignore that because you feel you have a better way of doing it you have gone from a small business having trouble to being a criminal. Integrity is not about protecting the people that you decide are more worthy but living up to your obligations across the board. Like paying the banks back over the next 5-years.

Steele would have found himself in jail for doing what you are suggesting.

If you are to believe the Stinky, what Steele did was just as bad. By not allowing the bank to feel the funds are secured forced them to take more drastic actions.

But on the plus side we have a whole new thread to bat rumors around because of it. ')

 

It is interesting in how sticking is trying to portray the state if the company's shut down on everything but the decisions made by ownership. The company made poor business decisions and then stuck with them causing significant financial loss. A sale of the company could not commence due to the lack of available cash needed to operate through a sales process. The hurricane played a role in the cash flow model but the damage to the company was done long before that. Companies do go out of business all the time. People make bad choices. The issue is deeper than that if you believe everyone in this situation did everything possible to atleast lighten the blow. An owner has to sign control over to the bank in order for them to take control. To blame the bank or other employees is the pointing of the finger game. Why wouldn't you file chapter 11 and protect most of the drivers?

 

We all have familys and that need to eat and this prick just stole our money... Im going after rock tenn