Conway bought out by XPO

Discussion in 'LTL and Local Delivery Trucking Forum' started by Apd, Sep 9, 2015.

  1. XFM2013

    XFM2013 Light Load Member

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    Not parts....part. One part...truckload All XPO wants is Menlo and freight......truckload is a sliver of the Con-way equation, just like the 3500 jobs that was cut when XPO took over, if they don't need it get rid of it and increase the profits. Hostile or not they (XPO) took over and certainly it can't be any worse than the 50% cut in pension benefits by Con-way, subsequent frozen pension plan, the re-set of all vacation time (Con-way took all the vacation time everyone acquired and never paid us) , the wage cut and promise to replace it (which never happened) and the list goes on and on with Con-way. We understand hostile....Con-way taught us well.

    As for the shareholders being upset....I think perhaps when you spend the cash and buy lots of companies people start to get a bit skeptical or loose confidence, it's human nature (I do when my woman goes crazy with her credit card).......but look what's happening:

    XPO stock 9/28 $21.62

    XPO stock 11/6 $33.50
     
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  3. Big Papaxx

    Big Papaxx Medium Load Member

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    They also get upset when you take on huge amounts of debt and they are not seeing any real profit being made. Just stay tune i doubt that the sale will stop a 1 part..
     
  4. whip

    whip Light Load Member

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    For the record, Truckload isn't for sale. They've received offers to buy it.

    http://www.wsj.com/articles/xpo-considering-sale-of-con-way-truckload-unit-1444234942
     
  5. Big Papaxx

    Big Papaxx Medium Load Member

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    It may not be For Sale but it will be sold.. Just because they didn't have a sign in the window say for sale does not mean Not for Sale.. He will divest truckload because it was a fact that market value for it is 350-420 million. Conway bought it for more than 600 million in 2007. They paid far too much for it.. So yes it will be sold probably before the end of the year.. BTW just because they say they received un-solicited offers does not mean it is not for sale.. Watch and see... You also need to remember XPO is not actually known to be the most honest company. For the record..
    Teamsters: XPO spends $3.5 Billion in wages stolen from California truckers to buy French company

    The fact that Moody's has downgraded XPO the fact that the aqusition in Europe of Norbert that XPO made just had the CEO resign. The man was the CEO for Norbert and was to remain in that position for XPO. The fact that 5 years ago XPO did not exist and was not created to be an asset based company... Fact XPO stock has dropped by 40% since May and hit an all time low of 21 dollars and change..
     
  6. TRUCKEE411

    TRUCKEE411 Light Load Member

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    I saw an xpo truck pulling a container from the port of los Angeles today. If xpo is operating in the port than you Conway drivers better get your Twic cards ready.
     
  7. Pintlehook

    Pintlehook Road Train Member

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    I'm assuming you work for Con Way/XPO, I'm curious as to how much LTL freight the truckload division moves. I know I've seen Con Way sleeper tractors pulling doubles, if they do indeed divest the truckload division that could open some some more LTL moves for the freight guys. It will be interesting to see how all of it plays out, good luck to all involved.
     
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  8. XFM2013

    XFM2013 Light Load Member

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    The twin screw trucks people see are more than likely freight trucks, Knoxville, Atlanta, Columbus, Cincinnati, Nashville and other bigger barns have "extended service lanes" that go further than the 270 mile one way line haul run, always done in teams. They use the twin screw sleeper trucks and baul a set around, up on the turnpike in Ohio Indiana and Illinois you'll see triples being dragged by a twin screw freight truck.
     
  9. XFM2013

    XFM2013 Light Load Member

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    I run to multiple terminals and see very few Conway truckload carriers hauling our sub service stuff. Don't know why, what I do see is truckload parking their junk on our lots and getting fuel at our barns, which I guess is cool, they just don't haul much of our freight, which I've always thought they should do all our sub service stuff.
     
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  10. XFM2013

    XFM2013 Light Load Member

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  11. XFM2013

    XFM2013 Light Load Member

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    Just like the LEAN crap, please tell me anyone is surprised the chopped that the first day?
     
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