Jevic Transportation Closing The Doors

See next post. This was originally a new thread but it got moved to page 999 here where nobody will read it.Too much clutter on the main page for an unimportant subject like 1700 people out of a job.

 

It's been three days since we got the boot at Jevic and after almost 12 years there I can honestly say we got screwed. There was absolutely no notice of impending doom, and though the writing was on the wall, we were all holding out for some sort of miracle. The beginning of the end was the sale of Jevic to Yellow freight several years ago for over 200 million dollars. Yellow basically put nothing in and sapped all of the profit they could get. Then the sale to Sun capital partners at fire sale prices a couple of years after was the final straw. Sun capital buys up companies, sends in a team of "experts" that tries to streamline the existing business ( these guys obviously had no clue how to run a successful trucking company ) they then wait for awhile and if it doesn't turn what they deem a "reasonable" profit, they try do dump it or they liquidate it, which is what is happening in our case. The real estate was sold off last year, terminals, acreage, etc. This was touted as a sound business move, though it was really just Sun capital sapping every last dime they could out of Jevic. Without collateral borrowing anything to stay afloat was virtually impossible, this was the part that management wouldn't make public. It's something like selling your house then trying to get a home equity loan on it! All that's left is Trucks and office furniture that will sell for about 10 cents on the dollar.The closing of four terminals in the system recently was the big red flag, though management was still painting lipstick on the pig trying to make it look like a supermodel. The problem here is that many of us are aging baby boomers and our marketability is declining every year that goes by. Who wants to hire a 58 year old local p&d guy? I'm hoping to find somebody before my unemployment wears out. My advice is if an outfit like Sun capital buys up your company start looking for a new job ASAP.

 

It's wrong what these companies do in the name of profit, with no regard whatsoever for their employees welfare.
Best of luck to you, to all of you there. You have our prayers.

 

Well said Lone Pilot...

 

Laid off Jevic workers allege WARN Act violations, file suit
5/22/08

 

Unfortunately, the way I read the WARN Act, it looks like Jevic is in the clear.

Less than Sixty days notice is allowed.

http://www.dol.gov/dol/allcfr/eta/Title_20/Part_639/20CFR639.9.htm

(1) An employer must have been actively seeking capital or business
at the time that 60-day notice would have been required. That is, the
employer must have been seeking financing or refinancing through the
arrangement of loans, the issuance of stocks, bonds, or other methods of
internally generated financing; or the employer must have been seeking
additional money, credit, or business through any other commercially
reasonable method. The employer must be able to identify specific
actions taken to obtain capital or business.

 

Brick, I think the key word in all of this is "mass"

Dumping 1 or 10 workers is nothing, the point is not to dump hundreds.

 

Not large as Jevic by no means (roughly 200+ employees) but when Crossroads Transportation and Logistics went out of buisness, I was given no notice at all.. Simply told to bring the truck back to Indy they was going out.. I contacted a respectful Labor and employment attorney who told me basically nothing would come of it by filling a claim. $2711.86 i was still owed by them.. Now I am looking into a way to claim that loss on my taxes but is a very trick venture in doing so...

Good Luck to all Jevic employees.. In such hard times that our goverment has created for the American people it is going to be rough for you all..

 

Yes but you know LAWYERS and Class action suits.Hope they do get something from them.