Celadon on the ropes...

That article included a link to Roadrunner's similar accounting problems from 2014-2016-- exactly the time I was leased onto them. It's a long story but in the end right before I terminated my lease with them I asked an executive suit and tie type if the company was in financial trouble which in his reply was a millisecond pause and denial which spoke volumes.

 

well, honestly, if you can't make money in today's freight environment, you simply don't know how to run a trucking company. I've never seen it so good.

 

I could see speculating at 50 cents per a share a large company might see value in getting thier drivers if nothing else ....it Costs five thousand to recruit a driver if you can get all of Celadon drivers for 1000 a head and only retain half you would be money ahead

 

lmao $1000 a head like they are cattle. lol

 

If the suit and tie executive had to pause and think of an answer,that tells you everything you need to know...

 

They are making money. But are under such a mountain of debt its going out as fast as it comes in. I have no idea if they will recover from this, be bought out, or simply run out of funds and close down. However if a man has some cash to spare, its not a horrible longterm investment risk. Dont mistake me, I'm not saying it's low risk, but the risk vs potential gain is very very tempting.

 

Of course they are like cattle. They are a commodity. Nothing more nothing less. That applies to any employee, at any company, in any industry.

 

More like lambs going to the slaughter...

 

We just got a $8 million dollar walmart contract.. we ar

??? Where do you see that? We’ve renegotiated with creditors and have been open with them about what’s going on. I know of a huge dedicated account we just signed on for: multimillion dollar contract; and the big guys don’t think as of now that we are going to have to go into Bankruptcy to reorganize.. After the audited financials are done maybe: but who knows??? You surely don’t. A lot of misinformation from a lot of people is what seems to be showing up here..

 

A quick google search supports what scottie was saying. The lenders agreed to provide more money to keep cash flow available but only at very high monthly fees.

For the record my guess is they will pull through this. But i don't trust that guess enough to buy any more of their stock.