Where is everyone #5

I’m not defending them just saying

 

Yeah, I understood ya.

 

Just found out one of my fellow heavyhaulers is down and out. He was running east on I-20 in Texas and had a seizure and crashed into a lake at mm 396 west of Weatherford #### near drowned. Three drivers rescued him. Broken pelvis and right arm. But he's alive !

 

That sucks, hope he’s recovers. How old?

 

Yes, long time ago they were decent, and good for a trip lease like Super stated. There was a buy out from a Capital Corp. Same old people running it however.

 

Writing has been on the wall. A investment firm dont buy a sinking investment in hopes of turning it around. They gave 60 mil including debt and assets. 700 some odd trucks. Now they run it long enough to bleed it dry, I'm willing to bet the debt is higher now. Kill it off, don't pay anyone and close it. Walking away with all the cash you pulled out of it.

The fleace purchase guys are gonna get screwed,glued, and tattooed on this one.

 

I did alot of towing and road service for them COD. They had problems paying 10 years ago. Going way back Dad trip leased with them, and CJ Rogers a lot out of the Cleveland area. He never had problems getting paid back then. I think its over 80% of third generation trucking companies fail when the kids takeover.

 

Hate to hear this stuff but glad he’s alive. I guess it could’ve been worse.

 

Always just amazed me that people can do stuff like that and still look at themselves in the mirror or sleep at night.

 

I agree shooter, but in the corp. world its always about the dollar, and never kidd yourself that its any different. I just suspect this, it may not be factual. But it sure seems that way. Who invests in a failing business?