Great Wide bites the dust
#1
10-24-2008, 11:04 AM
Join Date: Jan 2006
Location: In my own little world, that rides right behind the cab.
Posts: 615
#3
10-24-2008, 04:16 PM
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Join Date: Oct 2005
Location: Wichita Falls,Tx now Jacksonville Fl
Posts: 7,199
#4
10-24-2008, 04:35 PM
As heard over and over and over again on the Midnight Advertising . . . errrrr . . . Midnight Radio Network:
"At Great Wide you know, we've got a one-track miiiiiiiiiiind . . . get 'em rollin', get 'em home, get 'em paid" :thumbsdown:
#7
10-26-2008, 12:07 AM
Great Wide owns several other companies. I am not sure if the bankruptcy involves all of their subsidiaries or not. I received a call from a friend of mine the day after they filed. Ironically, he called me about Cargo Masters, which is one of their subsidiaries. This is a billion dollar company. I doubt that they are going to go out of business all together. It is my understanding that an investor group has taken them over. I am not sure whether they plan on taking over the company or selling off their assets. Some companies will file for bankruptcy protection right before selling to an investor so that any claims can be filed and the buyer knows what they are getting. They may also get the company for less since some creditors may not be paid. It depends on the trustee and bankruptcy judge.
#8
10-26-2008, 01:22 PM
http://www.bloomberg.com/apps/news?p...d=aIN4oZjY3m3A
financial restructuring, not quite sure they bit the dust. curious what will be the fate of Dallas Mavis since they are suing my uncle for the $100,000 he stole from them not too long ago...
#9
10-26-2008, 01:42 PM
Join Date: Jan 2006
Location: In my own little world, that rides right behind the cab.
Posts: 615
"Re structuring" of a company normally means they take it and break it out into all it's pieces. The ones that maybe made some profit and don't owe to much they can sell off to other companies the rest, that lost money and owe $$$$$$$t they put into chapter 13, full bankruptcy, and everyone gets the shaft.
If a court determins your uncle "stole" the $$$$ (Can be bankruptsey or criminal court) he will still owe it and either one will come after it.
#10
10-26-2008, 01:47 PM
Join Date: Jan 2006
Location: In my own little world, that rides right behind the cab.
Posts: 615
Dallas Mavis was another well respected good company that got sucked up by a bottom feeder just like Inway by Landstar
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