While walking into the S&H office at the shipper just a bit ago, a Werner driver asked me how i was doing, then said, "...so i hear Swift is going to buy Werner?" Now rather than get into an argumet (if that was his intention) i just said, "....i hear so many rumors..." and left it at that.

BUT, during orientation, i did hear that Swift owner Jerry M. has bailed out the Werner brothers from time to time, and ownes 40% of Werner from what i hear. But then again, that could be BS fed to me from someone within the company just trying to make them/him look better? i dunno. figure i'd ask on here to see what others have heard......

 

i'll tell you what's NOT a bullchit rumor. jerry moyes quietly stepped down a little less than 2 months ago. richard stockings took his place. unlike cunningham, moyes still has some reach within swift.

 

"Swift is buying Werner." "Werner is buying Swift." "One or the other is buying JB Hunt or JB Hunt is buying one or the other." "Swift is buying Schneider." "JB Hunt's wife divorced him because she found JB and his secretary on his desk doing you-know-what." "Moyes has bailed out Werner again." "Moyes' wife owns Freightliner." These stories have been circulating for the past 20 years.

Consider: Werner is debt-free. Swift is already heavily leveraged and credit is tight. Translation: unlikely. But . . . you never know. I'll believe it when I read it in The Wall Street Journal. And IF a deal was in the works, drivers and dispatchers wouldn't know about it until Agreements were signed and press releases were, well, released. Still, the economy may throw a few carriers into each other's arms. Stuff happens when things suck.

Now, it's possible that Moyes owns Werner stock and it's possible that Moyes' wife owns shares in Freightliner (which is owned by Mercedes-Benz). But controlling interests? I'll believe it when I read it in The Wall Street Journal.

Back when Swift was publicly traded it was easier to learn what was going on with the company.

 

That would make the pile of bent fenders, bumpers and fairings twice as big.

 

WERNER ENTERPRISES,INC. (WERN)


MAJOR DIRECT HOLDERS (FORMS 3 & 4)

Holder Shares Reported
WERNER CLARENCE L ... 8,080,068 18-Dec-08
WERNER GREGORY L ... 3,302,961 22-Jul-08
WERNER GARY L ... 1,573,086 22-Jul-08
LEATHERS DEREK J... 31,718 31-Jul-08
SYNOWICKI ROBERT E JR ... 9,904 23-Feb-09



Jerry Moyes is not listed as a major holder. If, in fact, he owned 40%, it would be 4 times more than Clarence, the largest stockholder.

I think it is safe to deem this rumor pure, unadulterated, dingleberry-laden BS.

 

:thumbsup:

 

I heard from a swift insider that he does own 40% of werner and a big chunk in scnieder as well !

 

Your "Swift insider" is anything but. Schneider is a privately owned company.

 

The SWIFT driver on the C.B. DOES NOT count as an insider!:lol:

 

Shouldn't this be in the humor section, wow some funny stuff.