COVENANT -- From a wife's perspective

How is Redcoat? Is his confidence building? I think and pray for him often. This is a thread about him...

 

I check here often and root for Redcoat I like to here how they are doing

 

YeS it is --- and his lovely wife as well.

You're right and I agree.
I think a lot of us are rooting for the Redcoats, Honor Roll.
And I think this is a VERY useful thread for ANYone considering
Covenant OR another training truckin' company.
A MUST read, IMO.

Many thanx to Mrs. Redcoat for taking the time and making the effort to inform all of us as to what to expect.

I remove my well worn NASCAR cap, stand at attention, and offer up
my most snappy and sincere salute.
Job well done.
Carry on.

 

Mrs Redcoat has a lot on her plate but she took the time to fill us in on things. Way to go Mrs. Redcoat. She takes pride in things with a little help from her true friends on here

 

ok.. back to covenant news: well the way things are this week i got 526 miles. really.
sat in louisiana 3 days got a load to georgia and had to give it up to a driver for his home time.....so here i have sat since last nite in la grange,ga. what a hot spot.
called in to one of the big wigs and was told it's the economy-elections-and location that is hurting us much apreciated covenant drivers.
he went on to tell me to be happy and enjoy my free time with my girlfreind and our dog,special together times are hard to come by in life.....
and truly there hasn't been much as far as work being offered in certain papers/web sites i visit. unfortunately i also have past --dac-- issues to clean up before i venture into submitting an app.
by the way, does anyone know of a company like covenant that allows you to train a significant other? she has the willies about being in a truck with someone she doesn't know and doesn't know how they drive, any info would be helpful.....
so the miles here have tanked.....but the trainers are cleaning up w/their trainees....
and still they come to chatt tn in droves, like ants to a sugar pile,yet their pile is not sugar!!!
i have a feeling it will only get worse....is it possible that covenant itself can go down like the TITANIC?
best wishes to all!!!!!!!!!!!!!!!!!!!!

 

Yes it can go down like the Titanic!

The next big crisis is the credit card crisis. Soon there will be reports on there earnings and predictions for these companies. People have been using their credit cards as a suppliment to their income pathtic incomes. When this comes to light things will get even worse. When card companies crack down it will again get worse yet.

 

The Company reported a net loss of $3.4 million, or ($.24) per basic and diluted share, in the third quarter of 2008 compared to a net loss of $3.6 million, or ($.25) per basic and diluted share, for the third quarter of 2007.

At Covenant, overall we reduced our fleet by approximately 100 trucks, however we added approximately 200 teams compared with the 2007 quarter, which improved the ratio of team tractors to solo tractors in our expedited operation and revenue per tractor per week. Our dedicated operations declined by approximately 36 trucks, as we did not renew contracts unless the terms generated an acceptable margin.

Covenant Transportation Group, Inc.
Key Financial and Operating Statistics

Nine Months Ended

September 30, 2008 ($13,586,000) Net loss

September 30, 2007 ($16,902,000) Net loss




I guess the good news is they lost $3,316,000 less in the first nine months of '08 than they did in '07.

I don't know how long a company can lose 13-17 million dollars a year and stay in business.

 

Now this is the kinda information I have been looking for since I started coming to this site May 1, 2008.



It looks like trucking is going down the sh**er. I should have got on with Schneider when I first heard their 800 numbers were getting painted out back in June or July. ####!!!!!!!!!!!

 

Definately should have gone with Schnieder , Covenant doesnt give a #### about anyone but themselves .. good economy or bad .. their drivers have always been just another number