Conway bought out by XPO

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

  1. L.B.

    L.B. Third Generation Truck Driver

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    The explanation I was given for not having truckload haul the sub-service stuff was that truckload was too expensive and they got other carriers to haul it cheaper.

    Think about that for a minute...

    If you can't haul your own freight within your own family of companies there is a serious problem. Once I was told this I knew I was working with a bunch of morons and I knew I wouldn't be at Con-way long. (I quit Con-way Freight about 4 weeks ago and went back regional OTR making more money)
     
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  3. FreightlinerGuy

    FreightlinerGuy Medium Load Member

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    Thats the real reason too. It doesn't make any #### sense to me either and I think truckload should have been the only ones outside of the LTL drivers hauling our freight.

    I see CRST, CR England, Swift, Trucks Inc, A.D. Transport, and Barr-Nunn everyday in our yards. I hardly see any other carriers other than those in our yards but it does happen. I don't know what the heck is going on with just primarily using those companies.. Probably getting a kickback somewhere.


    Also,
    Brad Jacobs said in the investor conference call they may or may not sell truckload. He said they have something going on..

    Jack Atkins - Stephens

    Okay. Thank you for that color there Brad. And then you've talked publicly Brad I think about selling the former Con-way truckload business, if a potential [Indiscernible] were to come along. I guess the rational that that you guys put out there for doing the Con-way transaction was it provided assets when capacity gets tight. Could you maybe explain why selling the truck load business would make sense in that scenario?

    Bradley Jacobs - Chairman and CEO
    We might sell the Con-way's truckload business but we might not. The business is actually performing better than most truckload companies right now even though you had a trade environment for truck load where tonnage is soft low count there has been holding flat and is positive on a sequential basis, we get a 20 day rolling report on various metrics and that's trailing 20 day report revenue is up year-over-year which is impressive especially with fuel going down and our revenue excluding fuel is above last year and the main reason that we are bucking the trends is that 35% of our truck load revenues cross border Mexico and that's got a different dynamic than the U.S. market.

    Rail promoted miles up over 2014 though slightly and our entry miles and truck load have improved versus 2014 is about 9% versus 9.5% last year so there are is some good things going on in Con-way truck load, with that being said we have received serious interest from a number of parties who were spending time and spending money on lawyers and hired bankers and so forth and as a public company we are going to take those very seriously. And we have a little process going on and we are going to bring that to a head fairly soon and we’ll make it efficient.

     
  4. L.B.

    L.B. Third Generation Truck Driver

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    The thing that got me was that we were sitting down linehaul drivers in one lane that had a subservice van coming from it every night. That ain't right!
     
  5. FreightlinerGuy

    FreightlinerGuy Medium Load Member

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    Still happens. Every day!
     
  6. Big Papaxx

    Big Papaxx Medium Load Member

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    No I absolutely do not work for Con-Way or XPO.. Con-way overpaid when they bought it in 2007 for 750 million dollars. It was about 11% of Con-ways business. It will be very interesting to see. It could work out to be a great acquisition but generally speaking deals like these there is a lot of scorched earth left in there wake..
     
  7. rocket237

    rocket237 Light Load Member

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    Our barn ups frt uses a Conway/xpo t/l division truck each nite for a gafney run.......mean while , when it gets slow drivers stay home instead of relaying the freight too pa.
     
  8. 2duisperyear

    2duisperyear Light Load Member

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    Should be other way around,
    America God statment
     
  9. lagbrosdetmi

    lagbrosdetmi Box Monkey

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    That's digging deep to troll a four month old post by one of the nicest guys on the board, jafo.
     
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  10. HalpinUout

    HalpinUout Road Train Member

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    Drove by the Chicago Conway freight yard this weekend and noticed it's close down... Was kind of shocked... Who picked up all the work Bridgeview? Can't imagine much of it going to Melrose Park, as they are already cramped enough at that yard...
     
  11. Mike2633

    Mike2633 Road Train Member

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    Is Conway Truck Load going to go back to being Contract Freighters Inc! Now that would be cool! Ha-ha!
     
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