Central Ref hijacked

There are some master hijackers around this whole forum, so you better be a darn good hijacker!

 

No Moyes, owned Central Refrigerated and has controlling interest in Swift.

Swift, the corporation, just bought Central Refrigerated from Moyes.

Looking at Swifts history with subsidiaries, they are pretty much left alone. Central Freight and Mojave are pretty much doing their own thing. The are some shared terminals and real estate and IEL runs the leasing for Central Freight. So based on that I would think that Central Refrigerated will be left on it's own. They've spent a lot of time and money developing their brand in the reefer business - it's a little to valuable to just throw away.

Bottom line what this really did was put some cash in Moyes' pocket and that is what it was all about.

 

No Moyes, owned Central Refrigerated and has controlling interest in Swift.
Better get your facts straight , Jerry Moyes started SWIFT , was sole owner , took it PUBLIC , bought it back after a few years took it public again ( great way to make $ to pay the bills ) at all times he & his family were the major shareholders.

He bought into DICK SIMMON when they went public , helped steer them into a BIG exspansion and when it went BUST bought up the remains for very little $.

 

I was stating facts as they stand now - well prior to the sale - not trying to give a history lesson.

First do you know what controlling interest is? Yep, possession of enough shares to control the company. Yes it can be a majority of the outstanding shares, but that is not required to have controlling interest.

Swift is a publically traded corporation that is controlled by Moyes.

Central on the other hand is a privately held company, that as far as we know Moyes is the majority, if not the only owner.

Other than Moyes' ownership stake in each company, there was no relationship between the two companies. Swift did not own nor have any say in the management of Central.

Swift, the publicly held company, has bought Central Refrigerated, the privately held company.

As I stated this sale is nothing more than putting cash in Moyes pocket. I thought it was obvious. But I'll spell it out. Moyes leveraged his controlling interest in Swift to cash himself out of his privately held interest in Central.

By the way I'm using Moyes to refer to the family interest, not Jerry specifically.

 

here is an ad i saw on craigslist dated today (8.12.13) recruiting rookies for Central:

[h=2]HIRING BEGINNER TRUCK DRIVER (Nationwide)[/h] ~~HIRING NOW~~

Central Refrigerated Service / New Drivers Program
48 States-Long Haul OTR Truck Driver
$$$ Great Pay and Benefits $$$
( No Class A license, No Experienced Required )
CDL Class-A License Provided by Employer
We Hire and Train our own Drivers!
2 weeks training + 5 weeks paid training with Mentor

Drive Big Rigs & Never be Unemployed Again!!!
First year income expectations from $35,000 to $74,000

Apply Online:
http://www.myappview.com/centralref?r=uba_city

 

thanks for that Wolfyinc, i thought the ad seemed sketchy

 

If you were a trainer in your first year you could make that much.

But, yeah 30k to 40k is more appropriate expectation in my opinion.

unloader

 

I believe they came up with the $74k if you become a l/p and start training once you have 6 months experience. They leave out the part about it being gross and you have to pay fuel out of that.

<sarcasm>Now there's a great idea. A driver with 6 months experience training a driver with no experience.</sarcasm>