In-cab cameras?

Correct, CN/TransX own all the H&R properties, the intermodal, and all the non Ryder reefer trailers. IHaul got all the Ryder Trailers, the Lethbridge dispatch office, and about 30% of the staff. They also got all the US contracts.

Even with only 30% of the H&R staff, in a year and a half, they went from 5% turnover to 60%, in cab cameras, and a bunch of other H&R joys. Glad I don’t work there, I only do ABL contracting for them and others.

 

Thanks Hoss. The question I’ve always had was: did H&R merge with Ihaul or sell to them?

If sold, how the hell did Ihaul pull that off? They started in 2010, had about 40 trucks at the time of the deal. H&R was several times that in size.

 

So just to preface everything I’m about to explain, this is all third hand information from TransX, H&R, IHaul and Ryder employees. I haven’t spoken to IHaul management about any of this.

H&R had been through 3 owners since 2005, and was in debt tens of millions. Not sure who pulled the plug (Creditors, Banks, The leasing Companies *Penske/Ryder*) but at some point in 2018 it was game over. CN having recently bought TransX, was in the market for more intermodal capacity. They missed out on the Hyndman/Celedon intermodal assets to Bison. So they jumped all over H&R when it went into bankruptcy protection.

The problem for CN/TransX was H&Rs debt, was way more then its current assets, and it was locked into a ton of long term lease deals that would have to be paid out, and neither CN/TransX wanted anything to do with those. So if they wanted H&R Intermodal, they had to take the whole thing or find a buyer for the Highway side.

This is where IHaul comes in, and the reason they were able to buy H&R Highway, was due to H&Rs abysmal reputation, terrible relationships with customers, long term equipment leases, 100% driver turnover rate and debt; the highway division was essentially worthless.

So the deal was CN/TransX pays off the debt, takes the assets that actually have cash value (intermodal, reefer trailers owned outright, trucks owned outright, properties, etc etc) 70% of the staff (which they fired most of inside of 5 months) and the H&R operating name & authorities.

IHaul assumed the contracts for all the leased equipment, got 30% of the staff and the Lethbridge dispatch office. They also got all the remaining meat/produce contracts H&R still had left (there weren’t many left, H&R had also lost their CTPAT and Turnpike Authorities). What did this all cost? Some people say less than a million.

Was it a good deal? I would say yes, except that 1/2 of the staff they got, are toxic, incompetent, malicious, ######## and refuse to change their ways. I guess once you’re used to being a driver destroying #######, little tough to change (or want to change, can’t give up that power trip). The other half are wonderful people, and have helped the company grow. They also tripled their trailer fleet overnight, although the IHaul trailers are much nicer/better spec than there Ryder/H&R units.

I just hope IHaul can survive this insurrection, and flush these H&R ########. Cause everyone who was here before the buyout, said IHaul was truly the best company in Canada. Personally I can tell you, all the owners are very driver focused (they all drove) and even treat us contractors like friends.

 

That's quite a rundown alright. So it had bit by bit slid into the ditch, due to H&R's mismanagement of it's business.
I never had anything to do with them, though I do remember them on the road in the 70's and 80's.
They had the best Kenworth's dragging the cleanest looking trailers in the country. At that time anyone would have been proud to run their iron.

 

Wow. I knew there had to be more to the story on that deal.

 

Kind of ironic...

 

Yeah, that's the H&R I remember.

 

Yea, when I got into this, my Dad told me I wasn’t allowed to 1) Haul Fuel (he drove tanker for 12 years) 2) work for H&R Transport LoL.

I knew they were horrible, as most of the English/Irish guys at Bison, had come over on LIMA to work for H&R. A bunch of the older Canadian guys had a stint at H&R, and made sure everyone knew it. Talking to the H&R drivers who were absorbed with the merger, and the ones who quit and went to IHaul before the merger; it literally sounds like it was the worst company on earth!

Fun Fact, the drivers lounge in the old Lethbridge, office has no washrooms, and is sealed off from the rest of the building by electronic Key Card/Reinforced Steel Door, and the glass is bulletproof.

 

Yup can anyone remember why the glass is bulletproof?now And when it was “ tested” .