o & s trucking,

I guess that is why Jim stepped down as mayor. I would to to save my income and company. Give us the rundown as to why or what made you quit as you seemed so happy in those other posts!

 

It's Official
O&S is filing bankruptcy and NOW we can say they have merged with Prime. Another great company ruined by dolts and their lease plan as profit that failed! I knew the minute I heard that he bought back the "S" in O&S things were going to change for the worse and it didn't take long! Good bye to a once fair and honest company. Not to many of them left.


[h=1]Former mayor Jim O'Neal's O&S Trucking files for bankruptcy[/h] [h=2]O&S Trucking asks to merge with Prime, Inc.[/h]


Dave Stewart and Joe Daues dstewart@kspr.com
jdaues@kspr.com 5:39 p.m. CDT, May 31, 2012

Springfield, Mo. - Former Springfield Mayor Jim O'Neal's trucking company, O&S Trucking, has filed for chapter eleven bankruptcy protection.

The filing in federal court yesterday lists assets as less than $50,000, and says the company owes between $10 million and $50 million total.

In another filing today, the company asked a federal judge to allow them to merge with Springfield's Prime, Inc. trucking company.

The company listed more than 200 creditors and said they owe more than $1.38 million to their top 20 creditors.
O'Neal abruptly resigned his position as mayor on May 7th, saying he needed to spend more time with his business.
From the May 7, 2012 council meeting:"I have an extreme amount of financial and business pressure as well as some family pressure and I can no longer serve as mayor of this community... I've got to protect the interests of my business and my family."


www.kspr.com/news/kspr-former-mayor...files-for-bankruptcy-20120531,0,1036764.story

 

Legal mumbo jumbo.

http://media.trb.com/media/acrobat/2012-05/70232909-31150933.pdf

Prime isn't outright buying them. Yet, anyway.

 

O & S filed bankruptcy today so don't worry how good of company it is

 

Geez CHAPTER 11 is like a TIME OUT , so they can still operate without paying creditors , workout a deal with creditors , reorganise and refinance not the END OF THE WORLD



In Feb 2012 they had an infux of $6,000,000.00 from a bank but now are burdened with
Among the 200 to 999 estimated number of creditors, the filing lists debts of $220,000 to Springfield Freightliner Sales for a maintenance contract; $211,211 to Bridgestone/Firestone; $200,000 to a Kansas City law firm for a wrongful death settlement; $196,301 to Comdata for fuel card purchases; $142,662 to Pilot Corp. for fuel; and $98,993 to Transport International Pool for trailer leases.

 

So another carrier settles for pennies on the dollar. Chapter 11 is corporate welfare .

 

That or SORRY give me a CHANCE to TRY this AGAIN

 

The rate cuts come next. And those of us who pay are bills have to compete with those subsidized rates.

 

wonderful considering you got to wonder how much they are being tied up with by Kraft. They do all the yard dog stuff for them in Springfield.

 

You left out that they only have $55,000 in assets, and also that they still owe drivers. Thats according to TA,s website. Wish i could walk into my bank,tell them i,ve got $55,000 and borrow 10 to 20 million dollars!