Cliff's Announcement and Company Transition

To put the stock price in perspective look at the $6 million worth of stock Celadon bought and later sold. Today that $6 million would only be worth a bit over $1.8 million. There is nothing funny with these numbers. These numbers stand for lots of people that have good hard earned money invested, and these investors stand to lose millions if this situation is not reversed. In my view the actions of the company management plus the inaction's of this board is criminal and a breach of their fiduciary responsibility to the stock holders and employees. I fail to understand why Cliff Beckham has not resigned in shame. I did hear of some scuttlebutt about tensions in the last board meeting. However it's my understanding the board is still fully behind Cliff Beckham. Also the next quarterly is due out soon, it will be interesting to read.

 

Yep due out this thursday. I am in anticipation mode. Retiredsarge said he heard USA had their best month of the year last month. Thats nothing special. Every company in this world has a best and worst month. I guess we will see what happens this thursday. As so often comes over the QC "Stand by".

 

Have you heard anything about that consultant the hired onto the board? Im guessing he was someone they bought in to help them get the new "credit facility" deal done.

 

No, I have not heard anything. I think the company is admitting they don't know how to run a trucking company by hiring an outside consultant. This is totally Cliff Beckham's fault. I think the best days of the company are behind them. Lost when Cliff Beckham won all those political power struggles and got rid of the people that knew how to run a company and make money doing so. I had a chance to meet one of these people several weeks ago. He told me Cliff Beckham did not have the gonads to even face him the day he was fired, he sent Rodney Mills to do it. This person is today in the upper management of a 4000+ unit trucking company that is making money. This guy was laughing when he said he wished his company would launch a hostile takeover because he would love to be the one kicking both Cliff Beckham and Rodney Mills backsides off the property.

 

Its one thing to "OWN" a business and be able to tell everyone that you will run it how you feel like doing so. Its another to be a CEO of a publically traded corporation and come off as you "OWN" the business. I am hoping they get taken over by a more finacially fit company for the drivers sake. There is no way for them to return to profitability even if Cliff did get booted. It would take years and small miracle to increase revenue enough show a profit while trying to pay down that debt.

 

Now thats how you take a dump!!! I guess wallsteet is expecting really bad results tomarrow so we shall see. I am guessing they show a little better on paper temporarily as a result of the new credit line but if it is a little rosy it will be short lived.

 

The current stock price is $3.14, Take a look at this especially the graph at the bottom and tell me how Cliff Beckham still has a job!

 

Man I have no clue. My only guess is there isn't anyone out there who is interested or thinks they can do anything for USA truck. I wish there were a way to tell what the numbers would look like if they didn't carry that boat load of debt.

 

Touched down towards 3 dollars a share before recovering a little bit. Have you heard anything about earnings yet? A realease is expected tomarrow from what I read but nothing is hinting to it in the news feed

 

Yahoo said today Nasdaq.com says tomarrow but that its tentative. That usually means it doesn't look very good at all and they are possibly seeking advice on the approach. Companies that have results at least in line with their usual perfomance give a time and date a couple weeks before hand.