That was my point . . Al's post implied the link has information about Swift. There isn't one word about Swift. I was being sarcastic.

I have posted at least a couple of links (in other threads) from hockey sources that have alluded to Moye's/Swift's apparent weak financial position but I have yet to see anything which speaks to the issue outside of the hockey world. dobry4u provided a link from the Wall Street Journal but even their article was primarily limited to speculation about the Coyotes. I find it interesting that the hockey world is all over this but the trucking papers haven't said a word and neither have the Phoenix papers. It makes me very suspicious as to the accuracy of the claims.

I was listening to a radio program out of the Cincinnatti area and heard a guest say that 55 restaurants in the immediate area had shut down within the previous 90 days. I don't need to go into the innumerable big name blue chip outfits that are at the brink of banruptcy or who haven't already been bailed out. I have no dillusions as to the possibility that Swift, Maverick, YRC, etc . . or any company, for that matter, are somehow above the fray.

So, just in case . .

From Heavy Duty's link:

"As a hockey fan, I am advocating that we as hockey fans do our part to help save this franchise. These facts and figures may all seem like the team is already too far down the path for salvation to take place, but I can assure you that it is not."

I can only add "As a Swift Driver . . GO COYOTES!"

 

I'm sorry, that was my fault, I misinterpreted your post. That is weird how it is only in the hockey world that Swift's financial security is being called into question. As a Swift driver do you get free tickets to the Coyote's games?

 

You see? It's as plain as the nose on your face. For Yellow to survive, not only does Swift need to recover. Strong from Norfolk, Nebraska will need to recover as well. That's clearly what the author was trying to convey. Or something.

 

Perhaps sync will pipe in on that one. I don't get to Phoenix very often, thank goodness. I do recall there was a notice on a bulletin board about Diamondback tickets . . discounted, I think and it's probably the same for hockey.

Now that I'm thinking about it and this may speak to the troubles at hand (hockey), I can't imagine that Swift would be too warm to the idea of having a bunch of trucks bobtailing back and forth to Glendale.

 

Information on Swift is hard to come by, because the company is private and does not put out public filings. However, I did read a report(I'm trying to find it now) that stated swift is in one of the worst shapes out of the big companies.

Here's a couple:

Analyst: Truckers YRC, Swift risky in shaky market - International Business Times -

Moody's lowers Swift Transportation's rating to Caa1; outlook negative - Rating Action - 2008/12/03 - Moody's Global Credit Research - AlacraStore.com

Obligations rated Caa are judged to be of poor standing and are subject to very high credit risk, and have "extremely poor credit quality"

 

Basically I personally think many companies that have poor credit will not be able to maintain their fuel float if fuel prices go up again. Their credit is shot, and in today's market that is a death wish.

 

Yup, the son and daughter of the founders must have had a crystal ball...... I just hope for their sake it was cash up front not stock in Con-Way.....

 

" . . funded roughly 50-50 with cash on hand and debt financing . . "

Source: Con-way buying CFI

I find it very interesting how the thread quickly turned to speculation of Conway's imminent demise . . that is the power of the rumor!


"The reports of my death are greatly exaggerated" Mark "Conway/CFI" Twain

 

Hey Pigrider, I went through the Recondo School at Bragg also. It was interesting. Never thought that I could fall asleep standing up.

 

LOL!! What about chasing down the chicken to eat and cooking your rice in your canteen cup over the fire you made from rubbing two branches together! That was the first and time I had ever experinced hunger!!