Celadon closing up shop!

They were self insured. Insurance runs out when the company closes.

 

Ok...you made my point even more true then.

 

Actually, that was only a part of it. They went out of business because they ran out of money and the lending company called in the note.

They ran out of money because they were struggling with crap rates and paying out most of the rate in maintenance cost and driver pay. If the freight market hadn't taken a dive this year, they'd still be operating and I wouldn't be sitting here posting this while applying for jobs.

 

What's a ghetto customer???

I have been here over 5 years and see the northeast maybe once every other month.

We have very good freight and plenty of it if you are willing to work.

 

I’m sure the rest of the industry is foaming at its collective mouth to absorb the personnel and freight left behind after celadon’s demise. And of course 90 % of the remaining companies with continue to screw over the drivers even further and then scream “driver shortage!!”

What I don’t understand is people keep acting like they never saw this coming. The “abandon ship” alarm should’ve been sounded a good two year ago when the investigations into celadon’s financial problems started.

I also keep hearing “trucking recession”.
While it maybe true the current “trade wars” could be a factor but look at what happened to falcon, arrow, new century etc. every time those companies suddenly shut down it was discovered that the bigwigs at those companies were helping themselves to company funds while cooking the books, right up until “whoops!! Sorry drivers but we ain’t got any more cash to pay you!! Good luck!!”

 

People doing what people do, Your probably right-

Truth though- Walmart probably has 1-2 openings.........

Send em over to Baylor- Just as good as Walmart but hometime

 

How about:

Find a town with a tendency to harass truckers, go to the police department and leave it with them?

 

I work for a trucking company,
but one of our clients repos, refurbishes and resells office equipment/furniture. When I started here around the height of the recession I was closing one office a month.

It was very depressing, realizing that every desk you broke down was somebody's $30k/job and every filing cabinet meant someone on the bread line.

Thankfully, that side of the business has slowed down lately.

I'll also point out I believe we have 3-4 vacant tractors at this point.

 

Someone will surely correct me if I am wrong but the executives in this case were not helping themselves to company funds. They were lying with respect to the financials hoping the next quarter or year would be better than the past and the real losses could continue to be hidden from investors.

 

they lie to guarantee their bonus......aka, company funds