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Twilight Flyer
Joined: 13 Nov 2002
Posts: 5706
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| Posted: Wed Mar 26, 2008 6:45 am Post subject: |
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Quote: 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. |
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scania
Joined: 10 Dec 2006
Posts: 164
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| Posted: Fri Mar 28, 2008 5:42 pm Post subject: |
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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. |
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jnk2001
Joined: 01 Dec 2006
Posts: 447
Location: Lynden, WA
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| Posted: Fri Mar 28, 2008 6:05 pm Post subject: |
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scania wrote: 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... :cry: |
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countryhorseman
Joined: 04 Jan 2005
Posts: 731
Location: The Great State of Texas - Seguin
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| Posted: Fri Mar 28, 2008 6:13 pm Post subject: |
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| 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! |
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GoldiesPlating
Joined: 23 Feb 2006
Posts: 1173
Location: New York City USA
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| Posted: Fri Mar 28, 2008 6:37 pm Post subject: |
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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. |
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countryhorseman
Joined: 04 Jan 2005
Posts: 731
Location: The Great State of Texas - Seguin
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| Posted: Fri Mar 28, 2008 6:47 pm Post subject: |
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Point #2 may well be true! Had seen that first hand while I was there. Just told them, if they cannot handle the competition, get out of the kitchen! I for one love a little competitive spririt.
GoldiesPlating wrote: 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. |
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Rawlco
Joined: 25 Jan 2006
Posts: 1160
Location: Central Maine
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| Posted: Fri Mar 28, 2008 10:54 pm Post subject: |
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countryhorseman wrote: 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!
Well I would like to think that, but the registration for my truck lists the owner as "General Electric Capital" not TMC or AHI. That is not a bad thing and it makes sense to finance a truck for five years rather than pay cash and tie up capital. Capital should be kept liquid in order to pounce on opportunities.
Regarding the truck washes: 2800 trucks being washed at $50 each per week costs the company $140,000 per week, or $560,000 per month. In a cash flow crunch we could wash every other week and save the company over a quarter of a million dollars. That amount would purchase 67,469 gallons of fuel , and allow us to travel about 391,325 additional revenue producing miles in that month. Of course that is only 139 additional miles per truck in that month. (based on at $4.15 per gallon and 5.8 mpg) |
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heavyhaulerss
Joined: 29 Jan 2007
Posts: 573
Location: north alabama
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| Posted: Sun Mar 30, 2008 11:48 am Post subject: |
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| I DO NOT BELIEVE A WORD I HEAR UNLESS I HEAR IT ON THE C.B. RADIO!!! :lol: |
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vonSeggern
Joined: 09 Dec 2005
Posts: 529
Location: Earth, North America, North, East, 9th State, 42° 56' 1" N, 72° 16' 41" W
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| Posted: Mon Mar 31, 2008 6:50 pm Post subject: |
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countryhorseman wrote: 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!
Maybe there is no debt on the hard assets (land, buildings, and fixed assets). I would seriously doubt that, for cash flow purposes, any company would not finance the trucks. That would leave cash available for seasonal income fluctuations. Also, if there was any default on a note (not saying that there ever was, is now or ever will be!), no one could take a building, just a frikken truck. Just a hunch on my part. |
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Littlepete
Joined: 27 Oct 2003
Posts: 42
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| Posted: Wed May 21, 2008 9:04 am Post subject: |
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| Filing chapter 11 |
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repete
Joined: 21 Dec 2006
Posts: 242
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| Posted: Wed May 21, 2008 10:15 am Post subject: |
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| old info , old post, don't believe it |
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Sammonman
Joined: 27 Jul 2007
Posts: 42
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| Posted: Wed May 21, 2008 4:25 pm Post subject: |
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Old rumor new source.
Chapter 11 restructure.
Pretty confident of the source. |
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belpre122
Joined: 14 Jul 2004
Posts: 584
Location: Local Hoosier 1/4 cab BBR
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| Posted: Wed May 21, 2008 8:53 pm Post subject: |
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carterbeauford wrote: 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 :D
"Pulp Fuction" Mrs. Mia Wallace to Vincent Vega. They were at JackRabbit Slim's if I remember correctly :D |
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countryhorseman
Joined: 04 Jan 2005
Posts: 731
Location: The Great State of Texas - Seguin
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| Posted: Wed May 21, 2008 9:33 pm Post subject: |
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Sammonman wrote: Old rumor new source.
Chapter 11 restructure.
Pretty confident of the source.
Still B.S. - nothing shows up in the dockets for the state of Iowa regarding Chapter 11 filings of TMC or Anette Holdings! |
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countryhorseman
Joined: 04 Jan 2005
Posts: 731
Location: The Great State of Texas - Seguin
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| Posted: Wed May 21, 2008 9:33 pm Post subject: |
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| Double, sorry - our internet is sending wierd messages tonight! |
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