Celadon

Your a few days late. There is already a thread leading with this link.

EDIT: NEVERMIND, I WAS MISTAKEN.

 

Crap, I thought it was https://www.thetruckersreport.com/truckingindustryforum/threads/celadon-on-the-ropes.430121/

Confused it with an email I received containing that link. That'll teach me to verify before I open my stupid mouth. My apologies.

 

wow, man........

The bearish case on CGI has just been pushed into overdrive as it was announced yesterday that the company's auditor was withdrawing its audits for the past few years and the company had to issue a statement that it's previously reported financials cannot be relied upon.

 

Sign up and get a free cdl!

Contract becomes null and void when they go under.

 

In the early ninetys I was sitting at an Indy truck stop. There were 4 Celadon drivers fuming about their paychecks, their paychecks bounced and they were trying to get ahold of someone to find out WTF was going on. It seems this company has had integrity issues for a long time!

 

I am a company driver with Celadon. They treat me well. Okay, so maybe these young financial so called financial wizards tried to think up a stupid way to make us look better on paper than we actually are? Wrong.. i agree: never should have happened and stupid..Focusing on leases and truck sales instead of our core value in trucking routes: again, wrong: never should have happened... But, that doesnt make the whole company trash.. I am confident that the core leadership of Celadon can get something worked out and i am sticking with them: doing my runs in a timely manner and trying my best to stay positive..

 

Is this the same leadership that handed a executive a 650,000 dollar check to get the hell out like last year or two years ago here in Arkansas?

 

Reading some articles not from the trucking industry, but from the investment field this whole thing stinks.
When they talk about Celadon replacing it's auditor firm with a less reputable one yet spending well over twice as much in auditor fees, investors seem nervous. The first firm had forced Celadon to re report earnings in 2012. So Celadon dumped them.
That's Enron sounding stuff. IMO with investor lawsuits and margin issues they are not going to just shake this off.