Celadon on the ropes...

I am that lease driver that was making all the money with Celadon these past 12 months. I hate to be the bearer of had news, but around 70% of office staff have been let go. Never seen so many empty cubicles in my entire life at HQ in Indy.

The load board is down to about 150-250 loads total for the entire week.

For me, the writing is on the wall. It's really not a matter of if, but when at this point.

The crappy thing about this whole situation is all the company drivers on the road that will be the last to know. I feel for them.

As for me, I have managed to save up around $30,000 to start my new trucking business, and in about 3 weeks should have my own authority.

I'm thinking of going to Quality and making them an offer to buy the 2015 Kenworth T680 with 350,000 miles that I'm in for about $0.28 cents on the dollar of what it's worth. So about $18,000...

That way they can have a cash infusion to stay afloat just a little longer after I leave.

I really appreciate this company for being a stepping stone for me.

But I can not allow them to make $10,000-$12,000 a month off of my hard work just for using their trailer, 30% is just way too much for using there trailer and authority. Especially since I dispatch myself.

I have given them about $115,000 of the line haul I have earned these past 12 months.

Once they restate the last 3 years financials any month now, I'm pretty sure that will finish them off quickly regardless of their new contracts and lines of credit.

It will be the Enron of trucking. I'm actually surprised it has taken this long.

For all you stock jocks out there, just beware of the DEAD CAT BOUNCE.

As for all the Celadon drivers out there, I know you want to be loyal to the company you drive for, but just be prepared for when the dominoes fall. I wish you all the best of luck in really do hope in wrong about Celadon about to go belly up for pennies on the dollar.

Have a great day!

 

Sir u have two issues here of innaccurancies ...a quality has nothing to do with celadon now and two they did away with % pay almost a year ago just saying

 

No inaccuracies. I was grandfathered in with my Quality truck and my contract with Celadon is 70% of the linehaul. A few months after I got here (April 2017), Quality and Celadon separated. I average around $8000 a week in line haul revenue. They take 30% around $2500 per week from me.

I was ok with that when i first started, but now it's time for me to get the whole 100%. They are a major liability to me now, cutting into as major portion on my profit.

That is why I applied for my own authority.

They have also become very unscrupulous lately. I negotiated a $6000 load with Coyote Logistics for 1500 miles, and when I tried to have it assigned to me, they gave me some BS about how they can't grab it for me. Mind you I have gotten tons of loads from Coyote before.

I'm pretty sure they gave it to one of there company drivers to maximize profits. Straight dirty and it was so blatant. That was the straw that broke this camels back.

 

I caught the falling knife, and despite the panic it induces, I'm holding for a profit.

 

Celadon just lost a $4.2 million case regarding its stealing fuel discount from its contractors. While this happened in 2013, and new management is in place, this type of behavior is reprehensible, and it is symbolic of the corporate culture in place at the time.

Thousands of Celadon drivers will be getting checks from $4.2 million settlement

 

I hope that new management and the general douching of higher ups prove the company as legitimate again someday. Every aspect of their operations the last 8 years has been a good example of a malicious thieving company run by completely selfish scumbag user pricks with zero sense of morality.

 

Hopefully the same thing happens to all the other big companies doing the exact same thing.

 

Wasn't the distribution of fuel discounts spelled out in the lease contracts?

When I was at Swift I saw the contract those poor fools who lease purchase have to sign. It did explicitly state that the driver does not participate in fuel discounts, other than the discount for "cash".

 

The fuel discount is one of my carrier's selling points. At some TA/Petros, I get north of 60 cents a gallon.

 

Fundamental difference is Swift allows you to fuel anywhere with their card with no penalty or you can get your own card ... Celedon was pushing thier card and thier preferred vendor.