Knight attempting hostile takeover of USA Truck

Something to remember is this. Even if USA trucks board said yes they would still have to get shareholder approval. Knight is cutting out the middle man by going around USA truck and right to shareholders. If shareholders say yes USA won't have any say. Board members and management don't currently hold enough stock to have control.

 

The economy is in the ditch; if the office personnel want jobs after USA, they better get their CDL.

 

I guess if the transaction were to really go through this board would have been a lot more active. How long will USA make the shareholders suffer? Most have lost a lot of money. If the next quarterlies aren't pleasing (this is the busy time of year for trucking outfits) Knight should scoop right in then with the 9 bucks per share.

 

Since USA rejected it and will most likely be stubborn and hold out shareholders better take their profits now. After this blows over the price will correct itself.

 

No one here wants to work for Swift or Swift's retarded cousin Knight.

 

As was said in release, they offered to at least meet with Knight. They refused to meet with us, so USA told them to pound sand!!!!

 

Wrong thread.

 

Knusa

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USA just wanted to meet with Knight to explain to them why they weren't for sale. Knight didn't want to hear it. Knight doesn't care if they consider themselves for sale. Any company that has publicly traded stock is for sale. One of the pitfalls to being a public company. If USA doesn't want to be taken over they should buy back a bunch of shares. This takes cash that they don't have.

 

I'm an employee at USA Truck. I read an article yesterday that said Knight's management team is very strong right now. USA Truck's has been weak for a few years and the board doesn't seem to be any better. They let Cliff promote and hire inexperienced people with no talent who he said would save USA Truck. Each "savior" would shortly be thrown under the bus and fired. And somehow, Joe Palmer, the one with the least experience and talent, continued as Director of Operations as we continued to lose money. Consultant, Tom Glazier, was a step in the right direction. However, when new CEO, John Simone, hired Russell Overla, Tom knew that was a recipe for disaster and ended his consulting with USA Truck. Now we have a CEO who has made a career selling or merging trucking companies, a VP of Operations who should have never been promoted past load planner, and a Director of Operations who should be flipping burgers. Let's face the facts, Mr. Powell and Mr. Lewis made USA Truck what is once was and since they have been gone it has been a disaster. Please, Knight Transportation, buy our stock, take control, and make us profitable again.