Cliff's Announcement and Company Transition

If the money was there to build a dallas terminal it would have been built a long time ago. Here in Texas to be an effective trucking outfit you need to have a viable full service terminal somewhere in DFW. That facility in Denton doesn't count even if they did extend it a little.

 

good point jtannillo, i live in Mckinney just north of Dallas.Drive around Dallas and you will notice all the major players have huge hubs in Dallas.Werner,Schneider,Celadon,JB Hunt etc,etc.I noticed lots of Schneider trailers at the Dallas Yard lately.The security guard even said some of our drivers had been shuttling them to the yard also.Dont know what thats all about though.

 

has anyone been to vandalia lately and seen the new refer trailer with the 1-800-go-schneider sign on the back????

 

I have worked for Schneider as well. I drove a cabover for them about 12 years ago. Shneider is putting sensors on their trucks to limit idling. They do not have APU's. They do have bunk heaters. But they drain the batteries after about 3 to 4 hours. Alot of Schneider drivers are leaving because of that. Don Schneider died not to long ago. He was the only one that watched after the drivers. The bean counters are in control now.

 

"Each of those accomplishments is core to our strategic plan, which is to reposition our Company from providing primarily long-haul truckload service---- "Cliff Beckham CEO USA Truck from USA Truck 2010 annual report.



Lets look at his statement. He just sold some iron and some lanes to Celedon, he lost his arse on some intermodal leases and had to turn equipment in and his stock price is in the toilet. He has 28m in liquid to run the place which is not much money the way he's bleeding cash.

If not a long haul truck load carrier and not an intermodal player then what exactly is he going to do / be? Corner the local market in Van Buren?

 

http://finance.yahoo.com/q/ks?s=USAK+Key+Statistics

Theres the latest key stats for USA. They have already absorbed 14 mil more in debt and only 18000 more in cash. Is there anyone who still believes they will pull out of it?

 

No, I don't. I think people seem to forget most experts are predicting the US economy will take a nosedive after the first of the year. Look at this list of planned layoffs. I also look for the large carriers to cut rates too. With USA Truck's huge debt I just don't see them surviving. Lets face it! They hocked the company to secure that loan. Their board and upper management can't seem to be able to run a multimillion dollar company. What do you hang hope on? When this credit is consumed then what? Albert Einstein once said insanity was doing the same thing over and over again but expecting different results. Can someone please tell me what this company is really doing different today?

 

One more thing. Before somebody gets all angry and tells me of their miles please remember my comments are based on the company debt! It is getting larger not smaller. Management does not know how to tighten their belts and operate within their means. Nothing good will come from this! This country's economy is about to take a dump. Company after company is announcing layoffs. I once said the company's drivers should stay because you will be needed. I am after tonight changing my opinion. If I were tonight a USA Truck driver I would start tomorrow looking for another job. I don't think 2013 will be kind to USA Truck, and I would jump ship ASAP. The idiots running this company ran it into the ground!

 

Can somebody please tell me just what was the company total debt on their last report and how much is left of their credit limit?