CRE-Fleece Ooida Lawsuit update:

Discussion in 'Report A BAD Trucking Company Here' started by badsey, Jan 15, 2010.

  1. badsey

    badsey Medium Load Member

    362
    56
    Oct 9, 2007
    Green Bay, WI
    0
    http://www.truckflix.com/news_article.php?newsid=6672

    http://www.bankrate.com/rates/interest-rates/91-day-treasury-bill.aspx

    91 day T-bill rate is .04% (not 4%). In these cpm escrow accounts you are charged 12-14cpm even for miles that are not payed. (HHG miles payed vs actual)
     
    jtrnr1951 and Lonesome Thank this.
  2. Truckers Report Jobs

    Trucking Jobs in 30 seconds

    Every month 400 people find a job with the help of TruckersReport.

  3. Okieron

    Okieron Crusty Okie

    1,641
    1,023
    Dec 23, 2009
    muskogee, ok
    0
    if you have ever been part of a class action you will see these people wont get squat. the atoornes in a class action are the only ones who win. just look at Microsoft and all of their discount coupons.
     
  4. Rollover the Original

    Rollover the Original Road Train Member

    3,206
    2,692
    Jul 1, 2009
    Springfield,MO
    0
    Holy Interest Rates Batman!
    Finally the little guy can get his just dues!
    I love the phase "whats good for the goose!"
    This ought to make all these bottom feeder lease fleece companies think long and hard!
    Yeah the defendants will get something but we always know that lawyers get their 33%.
    At least something is better than nothing and it teaches these bottom feeders a lesson even if they can't learn from them!
     
  5. badsey

    badsey Medium Load Member

    362
    56
    Oct 9, 2007
    Green Bay, WI
    0
    all i see is the 18% vs .04% (x4 for 4 91 day periods = .16%) difference = that is the difference from what a bottom-feeder trucking company believes what the trucker's money is worth and what their's is worth.

    CRE-Fleece gets my vote for bottom-feeder of the year for that -although there are many great bottom-feeder trucking companies out there one clearly rises to the top.

    [​IMG]
     
  6. zentrucking

    zentrucking Road Train Member

    1,055
    430
    Dec 9, 2008
    Atlanta
    0
    You can bet other companies are watching this case, and the writing's on the wall ...
     
    kiacosiah Thanks this.
  7. Pur48Ted

    Pur48Ted Road Train Member

    3,617
    5,975
    Jun 14, 2006
    Grand Rapids, MI
    0
    Why would they?
    If that is true, then CRE would have taken note on the numerous Class Action suits filed (and won) by OOIDA against trucking companies in the past.
     
  8. zentrucking

    zentrucking Road Train Member

    1,055
    430
    Dec 9, 2008
    Atlanta
    0
    Over other issues - and yes, industry wide changes followed.

    This case is unique, especially as the the level of payout.

    Besides that - any smart business person knows to stay aware of industry litigation.

    CRE probably believed they would win in their "own back yard"
     
  9. ChromeDome

    ChromeDome Road Train Member

    3,706
    2,084
    Jun 10, 2007
    Lakeland, FL
    0
    I could personally carer less if the Lawyers take most of it, and most of the lease Ops in the suit probably do not care either.
    CRE getting a spanking is what matters most.
    I think this was a fair ruling. I just wish it was enough money to put them out of business, which it is not.
     
  • Truckers Report Jobs

    Trucking Jobs in 30 seconds

    Every month 400 people find a job with the help of TruckersReport.

  • Draft saved Draft deleted