New Century shutting down?

I heard that swift vclosed the doors as of midnight last night idk if there is any truth to that or not any one know

 

Actually with JEVIC he never took investors he sold to yellow freight for 250 million who a few years later sold to sun Capitol investments for 50 million. Harry is a smart dude. And I believe new century isn't owned by him anymore either. I think one of the megas owns it.

 

My bad 200 million.


http://articles.philly.com/1999-06-...nsportation-yellow-corp-yellow-freight-system

 

I remember them in the early 90's. I was going to work for them at one point back then but was turned off because of doing OTR LTL. So instead I went to work for a guy in Queens running LTL both ways from NYC to LA. What was I thinking?

 

local drivers are out for deliveries only today. estes is coming in to do and assist in the final deliveries. harry was a great salesman and a lousy manager...his "team" were just yes men. the old guard of jevic/nct drivers still blindly love him and never put any blame on him. he got 60 million from jeffries partners and proceeded to spend every dime...the beginning of the end was buying almost bankrupt companies...one to get freight account and location, western fw out of denver and one to bail out a relative in law, P and P . PnP was the worst move...all their debt and dead weight and things went to hell after that...real fast. no money for new trucks, no money for anymore raises. the economy tanked about the time of PnP and that didn't help. management tried everything they could. re-financed with a long term new investor but it didn't help. harry was told to go retire. new management in. nothing helped. it is sad but it should not be a surprise to any driver still working here unless head was buried in sand. harry still owns land/buildings. was in office last thurs/fri. bankruptcy was filed on friday. probably still needed his signature. old timers still thought he would ride in on his million dollar motor coach and rescue them...yeah, in his late 60's? sure. when i started there in 06 it was a helluva place to work. great money, benefits, equipment. you worked your arse off and it was expected of you and if you could handle it...checks in high teens and even couple of grand were possible. never buy failing losing companies to fuel your healthy companies growth...don't work. good luck to all fellow nct drivers. i am old enough to retire...hope the rest do ok. sucks

 

And that's it for New Century. They aren't telling the drivers much, but the fat lady sang.

 

"Team –


New Century Transportation in Westampton, NJ, a national LTL and Load-to Ride carrier filed for bankruptcy protection Friday 6/6/14. Rob Estes has agreed to assist them in delivering out their shipments, in exchange for the opportunity to interview their employees in an effort to fill our vacant driver positions. We are not purchasing NCT! As you know we have over 200 vacant line driver and 150 vacant P&D driver positions system wide. With the current driver shortage, we feel this may be an opportunity to hire some quality drivers.


Here are our immediate plans, I will provide you with additional information as it becomes available:


1. New Century filed for bankruptcy protection Friday 6/6
2. Rob has agreed to assist them in delivering out their freight (600 ships @ 3,000 lbs. per) in exchange for the opportunity to interview their employees, in particular drivers
3. Junior, Wayne, Dave Ondik and Renee will be on site by 0800 hours Monday 6/9 to start the interviews.
4. Larry Hogue and myself will be on site by 0800 hours Monday 6/9 to assess the operational situation and develop a strategy to move the shipments. (Gordon will be in bullpen)
5. Marvin Blythe and Steve Smitherman are lining up outside transportation to assist in in moving freight.
6. We may need driver volunteers and dock workers (WLD & HBG) to help us process freight and move loads, Larry and I will know more once we get on site.
7. Our objective is to move shipments profitably and fill as many vacancies as we can with qualified personnel.


Sales – we have already received opportunities to handle some of this business. We are going to be very selective, especially in those terminals that are currently challenged (EDI, ALN, PHI, etc…). With LTL and TL capacity tight, we anticipate receiving high volumes of both local and on-line TL and Volume LTL rate quotes from customers, in particular shippers in the NJ & PA markets. Remember, there is a reason why NCT is going out of business and they may not have always priced their freight for profit. Hopefully, we can secure some shipments in back haul lanes in terminals that have capacity. All volume and TL pick up requests need to approved by TM’s. TM’s will use their discretion on what shipments we will handle. Remember, LTL loads always take priority and TL/Volume shipments move at our discretion. I encourage all of you to use good judgment in deciding what shipments to pick up. We don’t want to be sitting on a lot of 1 bill volume loads that we cannot move. If you have any questions on what we should or should not pick up please work with your TM first, then can contact Steve Smitherman if they are unsure.


Any questions please call. I will provide additional info. as it becomes available.


Thanks in advance for your cooperation.


Sincerely,
Regional VP – NE
Estes Express Lines

 

The only good thing out of yet another shut down in the trucking world is the available drivers that are now out of a job. That's one way to recruit.

 

Yes we r thecompany has filed chapter 7

 

This is the letter to NCT employees today. New Century is done.