Who has their hands in what companies?

I didn't say they were business partners. Please find where I said it. I never said they were doing anything together. I said the trucking industry around Phoenix and SLC was very incestuous. I implied nothing else. Try reading next time.

 

For large companies the amount of incest and nepotism is like no other. Companies often claim a large degree of separation are just shills to allow various family members to have executive positions and salaries.

Take Swift: Jerry Moyes father worked for CR England. The CR England - Pride relationship has already been mentioned as has Jerry Moyes childhood relationship with Kevin Knight and family.

Jerry Moyes merged many other companies into Swift yet handed others over to relatives. Central ltl, Digby/Navajo, DSW, and formerly Central Refrigerated were all said to be run by Jerry's relatives.

When Jerry got pinched by robbing his company he had to step down as CEO as part of the settlement with the government. Other stockholders toke over but Jerry was able to raise money (how?) to get it back. He promptly appointed his cousin, Stocking, as figurehead CEO. As nepotism fails as usual, Jerry will cash out these other trucking companies to the Swift stockholders. Thus keeping Swift's claim to largest 'truckload carrier' alive even though they have been loosing customers and frieght like mad by treating customers like crap.

 

a very important thread

maybe truck drivers will see the "royalty" we are up against and how the ATA HOS CSA are all designed to consolidate the trucking industry, like the media and banking industry into a select few

we are planned to become serfs

 

I feel trollish tonight so here's a link for you to ponder on http://investing.businessweek.com/research/stocks/earnings/earnings.asp?ticker=SWFT notice the made more then in 2013 then 2012 now 2014 who knows they might go belly up. But can you source where they are loosing accounts/customers like mad, would love to see it

 

i forgot to mention ELOGS in the mix

 

Companies seldom publish when they loose customers so I can't and doubt anybody can find the info.

But hear is what I do know. When Swift bought out M.S. Carriers in 2001 they grew to 15k trucks. Before the recession they boasted 21k-22k trucks/drivers with 2200-2300 miles a week per driver. They then dropped to 16-17k trucks and drivers with 1800miles per a driver in 2009. 2011 they were boasting around 15k with drivers averaging 1700miles. Before the Central buyout the numbers dropped to 14k with drivers in the 1600miles a week. Now numbers are back up around 17k with central on board. They had to buy Central to keep 'we're the biggest bragging rights.' The drivers and miles went some where. Everybody lost freight in the recession but Swift lost a lot and even with the Central buyout they are way shorter on freight then they were.

For example, Swifts biggest customer was Costco. Swift at one time had all of Costco's DC freight. They now have lost CA, UT, ID, MT, and TX, and maybe more. Costco employee's would like to get rid of Swift period, but have yet to be successful nationwide; Swift can and will offer some cheep freight to keep what they can.

I do not think Swift will fold up. They have a lot of customers to lose. Jerry has a lot more trucks and drivers to sell to Swift. Nevertheless, company earnings are self reported. Remember Enron. Like many other companies Enrons earnings always went up. If you own stock and you report earnings you best believe reported earnings will go up. People read too much in reported earnings and the stock market value.

 

Could you post cliff notes? That was way too long to read.

 

Doesn't Central Transport (yellow trucks) have part ownership in a few companies?

 

I will when I get done reading it.

 

simply amazing