Texas trucking company US Logistics abruptly closes doors

1,871 Views | 16 Replies | Last: 6 days ago by Heineken-Ashi
techno-ag
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
3:17p, 6/24/24
AG
https://www.freightcaviar.com/us-logistics-solutions-shuts-down-overnight-stranding-2-000-workers/

500 truckers, 1500 support staff laid off immediately. Near as I can tell the parent company had financing issues. They are likely victims of this high interest, high inflationary environment Biden has led us into.
Buy a man eat fish, he day, teach fish man, to a lifetime.

- Joe Biden

I think that, to be very honest with you, I do believe that we should have rightly believed, but we certainly believe that certain issues are just settled.

- Kamala Harris
Reply Quote
8
AtticusMatlock
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
3:28p, 6/24/24
Shutdown was reportedly by surprise with no forewarning and trailers/freight was abandoned all over the country.
Reply Quote
5
BigRobSA
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to techno-ag • 3:28p, 6/24/24
techno-ag said:
https://www.freightcaviar.com/us-logistics-solutions-shuts-down-overnight-stranding-2-000-workers/

500 truckers, 1500 support staff laid off immediately. Near as I can tell the parent company had financing issues. They are likely victims of this high interest, high inflationary environment Biden has led us into.


"But this economy is rockin'!" </moronic tards on the left>
Reply Quote
27
CDUB98
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to BigRobSA • 3:46p, 6/24/24
AG
BigRobSA said:
techno-ag said:
https://www.freightcaviar.com/us-logistics-solutions-shuts-down-overnight-stranding-2-000-workers/

500 truckers, 1500 support staff laid off immediately. Near as I can tell the parent company had financing issues. They are likely victims of this high interest, high inflationary environment Biden has led us into.


"But this economy is rockin'!" </moronic tards on the left>
I despise Commie economics as much as anyone, but let's be real here, even in a booming economy, companies can make piss poor decisions that cause financial collapse.
Reply Quote
14
BigRobSA
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to CDUB98 • 3:49p, 6/24/24
CDUB98 said:
BigRobSA said:
techno-ag said:
https://www.freightcaviar.com/us-logistics-solutions-shuts-down-overnight-stranding-2-000-workers/

500 truckers, 1500 support staff laid off immediately. Near as I can tell the parent company had financing issues. They are likely victims of this high interest, high inflationary environment Biden has led us into.


"But this economy is rockin'!" </moronic tards on the left>
I despise Commie economics as much as anyone, but let's be real here, even in a booming economy, companies can make piss poor decisions that cause financial collapse.

True

But....







...this seems to be happening a lot more frequently with the current dip****tery going on.
Reply Quote
15
techno-ag
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to CDUB98 • 3:50p, 6/24/24
AG
CDUB98 said:
BigRobSA said:
techno-ag said:
https://www.freightcaviar.com/us-logistics-solutions-shuts-down-overnight-stranding-2-000-workers/

500 truckers, 1500 support staff laid off immediately. Near as I can tell the parent company had financing issues. They are likely victims of this high interest, high inflationary environment Biden has led us into.


"But this economy is rockin'!" </moronic tards on the left>
I despise Commie economics as much as anyone, but let's be real here, even in a booming economy, companies can make piss poor decisions that cause financial collapse.
True, anybody can borrow too much. But when the interest rate quadruples that's a problem, even with fuel costs kept down by the continuous strategic petroleum reserve releases.
Buy a man eat fish, he day, teach fish man, to a lifetime.

- Joe Biden

I think that, to be very honest with you, I do believe that we should have rightly believed, but we certainly believe that certain issues are just settled.

- Kamala Harris
Reply Quote
3
Rapier108
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
3:53p, 6/24/24
At least the truckers won't be out of work for long.

Almost every freight company is always looking for drivers.
"If you will not fight for right when you can easily win without blood shed; if you will not fight when your victory is sure and not too costly; you may come to the moment when you will have to fight with all the odds against you and only a precarious chance of survival. There may even be a worse case. You may have to fight when there is no hope of victory, because it is better to perish than to live as slaves." - Sir Winston Churchill
Reply Quote
5
CDUB98
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to techno-ag • 3:53p, 6/24/24
AG
techno-ag said:
CDUB98 said:
BigRobSA said:
techno-ag said:
https://www.freightcaviar.com/us-logistics-solutions-shuts-down-overnight-stranding-2-000-workers/

500 truckers, 1500 support staff laid off immediately. Near as I can tell the parent company had financing issues. They are likely victims of this high interest, high inflationary environment Biden has led us into.


"But this economy is rockin'!" </moronic tards on the left>
I despise Commie economics as much as anyone, but let's be real here, even in a booming economy, companies can make piss poor decisions that cause financial collapse.
True, anybody can borrow too much. But when the interest rate quadruples that's a problem, even with fuel costs kept down by the continuous strategic petroleum reserve releases.
I fully agree that the interest rate going up drove the problem....ehh, no pun intended.

But, the first financial mistake the company made was leveraging themselves so far out there that they were exposed to that risk. They should have never done that to begin with. The interest rate increases were their chickens coming home to roost.
Reply Quote
4
1 edit
BassCowboy33
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to techno-ag • 3:54p, 6/24/24
techno-ag said:
https://www.freightcaviar.com/us-logistics-solutions-shuts-down-overnight-stranding-2-000-workers/

500 truckers, 1500 support staff laid off immediately. Near as I can tell the parent company had financing issues. They are likely victims of this high interest, high inflationary environment Biden has led us into.


Trucking is highly volatile, highly competitive industry with over a million companies involved. Few industries are as competitively wide open. Makes for some good capitalism.
Reply Quote
2
torrid
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
3:59p, 6/24/24
AG
Didn't this happen almost exactly the same way a couple of years ago with another company? Maybe Yellow Trucking?
Reply Quote
2
CDUB98
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to torrid • 4:23p, 6/24/24
AG
torrid said:
Didn't this happen almost exactly the same way a couple of years ago with another company? Maybe Yellow Trucking?
I think Yellow was brought down by union demands.

I don't recall the name, but that large company with the orange logo with green writing and trucks, I think, was the one that abruptly bellied up.

Could be wrong though.
Reply Quote
1
techno-ag
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to CDUB98 • 4:30p, 6/24/24
AG
CDUB98 said:
techno-ag said:
CDUB98 said:
BigRobSA said:
techno-ag said:
https://www.freightcaviar.com/us-logistics-solutions-shuts-down-overnight-stranding-2-000-workers/

500 truckers, 1500 support staff laid off immediately. Near as I can tell the parent company had financing issues. They are likely victims of this high interest, high inflationary environment Biden has led us into.


"But this economy is rockin'!" </moronic tards on the left>
I despise Commie economics as much as anyone, but let's be real here, even in a booming economy, companies can make piss poor decisions that cause financial collapse.
True, anybody can borrow too much. But when the interest rate quadruples that's a problem, even with fuel costs kept down by the continuous strategic petroleum reserve releases.
I fully agree that the interest rate going up drove the problem....ehh, no pun intended.

But, the fist financial mistake the company made was leveraging themselves so far out there that they were exposed to that risk. They should have never done that to begin with. The interest rate increases were their chickens coming home to roost.

Yup I think over leveraging results in more bankruptcies than anything.
Buy a man eat fish, he day, teach fish man, to a lifetime.

- Joe Biden

I think that, to be very honest with you, I do believe that we should have rightly believed, but we certainly believe that certain issues are just settled.

- Kamala Harris
Reply Quote
1
TTUArmy
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to torrid • 4:32p, 6/24/24
torrid said:
Didn't this happen almost exactly the same way a couple of years ago with another company? Maybe Yellow Trucking?
Yellow was managed poorly. The union made demands for increased wages and Yellow gave it to them. Yellow management did not increase their rates to cover the increased labor costs, primarily to keep their customers. They began operating in the red month, after month, until they couldn't anymore. Yellow customers then had to contract with other freight lines...at a higher rate.
Reply Quote
2
Rapier108
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to torrid • 4:39p, 6/24/24
torrid said:
Didn't this happen almost exactly the same way a couple of years ago with another company? Maybe Yellow Trucking?
Yellow/Roadway
Central Freight Lines
Celadon Group

These were probably the biggest in the last 5 years.
"If you will not fight for right when you can easily win without blood shed; if you will not fight when your victory is sure and not too costly; you may come to the moment when you will have to fight with all the odds against you and only a precarious chance of survival. There may even be a worse case. You may have to fight when there is no hope of victory, because it is better to perish than to live as slaves." - Sir Winston Churchill
Reply Quote
1
TTUArmy
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
4:48p, 6/24/24
The wife and I went trucking during the pandemic. It was mostly to get her out of the ER (BSN-RN), where she was catching a lot of heat for not taking the mRNA therapeutic. We learned that trucking is a slimy, cut-throat business and a fairly dangerous occupation. Depending on the type of freight being hauled and the area you are pulling a load out of, margins can be pretty slim, with fuel being the lion's share of expenses. We ran coast to coast, but never had a run into North Dakota. Lot's of fun...wouldn't do it again unless we had to. The only reason we did it was to get my wife clear of the "vaccine" stupidity that was occurring in hospitals across the country.
Reply Quote
10
1 edit
Ellis Wyatt
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to CDUB98 • 5:05p, 6/24/24
Quote:
Quote:


"But this economy is rockin'!" </moronic tards on the left>
I despise Commie economics as much as anyone, but let's be real here, even in a booming economy, companies can make piss poor decisions that cause financial collapse.
This isn't that.

The feds have made fuel expensive, they've added expenses to operating diesels, and of course, inflation has made literally everything cost more. The pressure on corporations has increased tremendously.
Reply Quote
4
Heineken-Ashi
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to Rapier108 • 5:40p, 6/24/24
Rapier108 said:
At least the truckers won't be out of work for long.

Almost every freight company is always looking for drivers.
Manufacturing is slowing and trucking industry will be too. Hard times ahead.
“Give it hell Heinekandle, I’m enjoying it.”
- Farmer @ Johnsongrass, TX

“No secure borders, no alpha military, no energy independence, no leadership and most of all no mean tweets - this is the worst trade I’ve ever witnessed in my lifetime. ***Put that quote in your quote/signature section HeinendKandle*** LOL!”
- also Farmer @ Johnsongrass, TX (obviously in a worse mood)
Reply Quote
Refresh
Page 1 of 1
 
×
subscribe Verify your student status
See Subscription Benefits
Trial only available to users who have never subscribed or participated in a previous trial.