TMC going bankrupt!!!

[ibamars]

So I am not on here like I used to be. My buddy told me TMC is filing bankruptcy.

Can anyone confirm or deny that?

I am just curious due to that I almost went with them when I first got my CDL. I thought they were financially stable and had really good equipment. I hear though that the equipment is what got them in trouble.

Curious!!!!

[carterbeauford]

buddies are always the best source of information

[terrylamar]

http://dockets.justia.com/

Please do your own search rather than spread baseless rumors.

[hewithoutname]

So I am not on here like I used to be. My buddy told me TMC is filing bankruptcy.

Can anyone confirm or deny that?

I am just curious due to that I almost went with them when I first got my CDL. I thought they were financially stable and had really good equipment. I hear though that the equipment is what got them in trouble.

Curious!!!!

Nope, TMC is still very much alive and kicking and no bankruptcy. This rumor has been going around for awhile now and is being fueled by posts from recruiters at other trucking companies. When companies begin to reach that point you will notice that they start liquidating certain assets so as not to be included in the bankruptcy procedings. There are always subtle signs to look for in any type of company and trust me, there's none of that going on. Let's just say that I'm in a position that would definitely put me "in the know". I have two vacations coming up and I have no plans of cashing them in, if you know what I mean.

Regards...

[hewithoutname]

Let me follow up with one more interesting tidbit of information in regards to this bankruptcy scare. I'm going to share with you a broadcast message that was sent to the entire TMC fleet just this moring from Harrold himself that should once and for all lay this myth to rest:

It has been brought to my attention that some of you are hearing rumors out there about our financial condition. I trust all of you working here know better than to fall for some of the crap the competition is spreading around about us. It makes me mad but at the same time you have to laugh. Our competitors can only hope in their wildest dreams that something might happen to TMC. While they're busy worrying about us, we're working as hard as ever to get their freight on our trucks and help you guys make a good living. I'm always available if you have any questions. As always, you guys keep that PRIDE IN YOUR RIDE!!!!!

Take care and be safe.

Harrold Annett

[dle]

OK, I'm going to show my ignorance so others won't have to.

Mr. Harrold Annett, who are you and why should we take your word?

[Twilight Flyer]

FYI, I haven't seen any recruiters from other companies spreading the rumors that TMC is going out of business, at least on this board. On the contrary, our company has gotten the story from half a dozen different TMC drivers calling us and rather than eat it up as gospel, I posted a question to TMC drivers to verify, hoping to lay the rumor to rest for you. The answers I've gotten have ranged from everything is fine to Harold taking control of the company again to TMC pulling everyone in and locking their doors.

Rumors are rumors...everyone deals with them at one time or another. But you can't argue the fact that TMC has been in the rumor crosshairs for the past few weeks and what's been happening over there, including the lack of information going to their drivers, has fueled those rumors and speculations over and above the norm.

[hewithoutname]

OK, I'm going to show my ignorance so others won't have to.

Mr. Harrold Annett, who are you and why should we take your word?

Sorry about that. I should have clarified...Harrold Annett is the man who founded TMC in 1972 and still sits at the helm today. You can find his bio at this link, http://www.tmctrans.com/about2.asp and you can view a little background info on the company as he started it, here, http://www.tmctrainingcenters.com/abouttmc.html
As far as taking his word, I can't prove to you any assurances outside of what you read but I can tell you that I've been with TMC myself for well over 10 years through good times and bad and I've never known this man to ever lie or stretch the facts. He's without a doubt a pretty straight-shooter.

Hope this helps some.

[Twilight Flyer]

And FYI, it's not just TMC. There's a lot of companies that are in the rumor pot, Swift currently being the biggest morsal.

:shock:

[jonekatz1]

Someone said that 86.38% of Stats are made on the spot ! I'm wondering who dreamed up that statistic. Goliath .ecnext.com monitors 430,000 U,S Companys Annually if you have interest to see how a Publicly traded or Private Co performs look at this site for revenue generated by a specfic Co :idea:

[vonSeggern]

OK, I'm going to show my ignorance so others won't have to.

Mr. Harrold Annett, who are you and why should we take your word?

Mr. A?

He would be TMC driver 000001. He drives a '72 Pete 359 truck number 000001.

[Twilight Flyer]

Von, does TMC still have that truck? I ask because Heartland has one of our original trailers on the lot here in North Liberty and from what I gather, we have an old White COE down on the O'Fallon yard. Kind of neat to have that history lying around.

[Rokk]

I loaded 5 different loads this week in various places and states, along side a tmc truck. the drivers of them seemed happy and doing fine.

nothing that woudl make me expect the company might fold. i figured it was quite ok considering they was running the same freight i was running. i figure if its good enough for them its good enough for me.

[vonSeggern]

Von, does TMC still have that truck? I ask because Heartland has one of our original trailers on the lot here in North Liberty and from what I gather, we have an old White COE down on the O'Fallon yard. Kind of neat to have that history lying around.

I made the whole thing up. Just being a dope.

[carterbeauford]

what's with all the bad information lately? CAD is becoming channel 19.

"when you guys get together you're worse than a sewing circle" name the movie

[Twilight Flyer]

what's with all the bad information lately? CAD is becoming channel 19.

The "bad" information is coming from out there, not here. Posters are then coming here to ask about it because the CAD population usually has enough insiders at the various companies to know the truth.

As I said, I've been hearing the TMC stuff from TMC drivers and we've got our own drivers telling us the same thing...they are hearing things from TMC drivers. That's why I asked the question on the TMC thread a week or so ago.

[scania]

No trucking company is going broke,in fact their stocks are doing very well.
Now o/o's that's a different story..........

Corporate America once more has got us by the $%&*# again.

[jnk2001]

No trucking company is going broke,in fact their stocks are doing very well.
Now o/o's that's a different story..........

Corporate America once more has got us by the $%&*# again.

Corprate America can absorb $4.50 a gallon fuel. heck. it's maybe a dollar a stock less, that's nothin'. it's the O/O's. they are going by the wayside like the family farm. it's a cryin' shame...

[countryhorseman]

If I remember correctly, Von can probably remember this, but TMC has no outstanding public debt. i.e. TMC is 100% solvent! No banks, finance companies, etc. have any hold on TMC!

[GoldiesPlating]

Point # 1:
Is it only me or does anyone else think it would be strange for TMC to keep getting 2,500 trucks washed EVERY SINGLE WEEK and paying for it if they were about to go bankrupt?

THAT fact alone should quell the baseless rumors.

Point # 2:
SOMETIMES TMC drivers do all in their power to keep new drivers AWAY from TMC as any new driver could be seen as a competitor for freight against existing drivers. Less drivers = More freight choices for existing drivers

Flatbed Fred.