Knight attempting hostile takeover of USA Truck

USA Management is probably holding out for a better "golden parachute" package. The deal is probably done in principle already. Why would Knight go out on a limb and give itself a black eye if USA was able to spurn its advances? What needs to be settled is how much USA management will take to go away and who will stay on in what capacity.

 

Anyone who thinks things are soo much better at Knight, GO! Leave now!!! I'm sure they will hire you! I don't know why this Charles guy is so hung up on us being broke and how can anyone work for a broke company. I remember when Trump went broke, I bet the employees who jumped ship before he turned it around wish they had stayed. Just because you like it there doesn't mean people don't like it here. Just as people who work for Knight are also unhappy as are people here. It's the nature of the business. I am very critical of problems at USA. But don't come here and act like Knight is the goose who laid the golden egg. No one here is going to drink that kool aid.

 

Tisk tisk. I can't believe these guys on here crying because their company is about to be bought out. And by the way. Have you heard the latest news? Even USA's stockholders told Knight to do what they got to do. They're tired of losing money. So I'll say to you. Welcome to Knight Transportation.

 

Knight is such a poor place to work for even Charles admits he's not one of their employees. He knows better. He went out and bought his own truck and became self employed. The only reason for doing that would be because he wasn't making enough money or getting the miles as a Knight employee. Why does he insist anyone else would be happy there if he wasn't satisfied with what he made there.
And look, when obama care kicks in he will even have some health insurance again..lol

 

JFrog.. I'm leasing a truck from Knight because I wanted to try something different, and make a lil more. Trust me...I made money as a company driver. If I did'nt.... I would'nt have stayed that long. But I'm quite sure Knight company drivers are making more than u guys.
So talk what u know because right now your assuming t
stuff, and u know what u make of yourself when u assume.

 

I agree with most things you say JFROG. But saying that that charles guy isn't an employee of Knight because hes an O/O is pretty far fetched. As an O/O he is still under Knights company policies for just about everything that a company driver is. Probably uses their dispatch, fuel stops, maintenance network, etc. He said he was a company driver up until about year ago when he bought his truck.

 

I'm sure USA's board of directors were probably elected at different times therefore couldn't be taken out all at the same time. Does Night want to spend years pursuing a takeover? Lol, who knows, maybe USA will turn the tables and pursue Night.

 

There have been many lawsuits by independent contractors claiming to be employees. Both the IRS and the courts have set up specific requirements because of this.
That's the main reason many of these companies use lease/owner ops. They are not liable for SS payment, workers comp, unemployment, health insurance and other benefits. The independent contractor must pay his taxes, including both parts of the SS tax which an employer normally pays.

But this is all besides the point. My point was it would be hard for him to say we would all like it there when he is not even in a company driver position there. Even here at USA there are different rules, loads and responsibilities for lease/owner ops. They pick and choose their loads hometime and other things that a company driver must just accept.

But whatever...

 

For USA Truck's 2013 proxy go to http://www.usa-truck.com/Media/130101028828636255.pdf At that time Mr. Powell owned 9.4% and Mr. Speed owned 7.8% of total stock. Several news reports today mentioned major shareholders supporting Knight's take over of USA Truck. My guess is that Mr. Powell and Mr. Speed are two of those several major shareholders. In addition, look at the ridiculous amount of money and incentives Mr. Simone was given to become CEO. Furthermore, Cliff Beckham, after destroying a successful company, is still making 300K a year and was given 7530 shares of restricted stock. No wonder we can't make a profit. Between Beckham and Simone we have tied up around a million $'s a year. On top of that, Simone keeps bringing in his buddies, making them executives and pay them big bucks as well. I guess when they say results are what matters, that only goes for the working class not the executive class. If someone can come in and profit a few million, then fine, give them a huge salary and some incentives. But it makes no sense to lose money quarter after quarter and get paid like the company is profiting millions when they are actually losing millions. Knight will be in control of USA Truck before the end of the year, and even though the USA execs will walk away with plenty of money, they'll never be able to walk away from the fact that they're failures.

 

Pursue knight with what? It won't take year to make this happen if Knight proves to want it bad enough. A year to completion at the most.