[Skywalker]

Just got a call from a driver there....will add details later.

Here's the base line:

Conway has entered into an agreement with the Owners of CFI to purchase CFI for $750 Million. CFI will apparently, since they had been the principal long haul carrier for Conway, continue to serve this purpose. More later.

Here's the link to the article on CNN.com:

http://money.cnn.com/news/newsfeeds/...16072007-1.htm

By the way folks, this is not a rumor. I got the email today from an "unimpeachable source". And a second email from a friend at CFI.... a driver who received the same email and forwarded it to me.

[Orangetxguy]

WOW. CFI won't even have to change their Logo! The CFI "logo" will work!!!

[Jackrabbit379]

That sounds interesting. Wonder if CFI will be doing some LTL work..

[VitoCorleone99]

Originally Posted by Jackrabbit379

That sounds interesting. Wonder if CFI will be doing some LTL work..

The LTL stuff is still under ConWay Freight. The merger specifically involves ConWay Truckload, at least in terms of operations. I know there are some ConWay guys on the forum, so maybe they can clarify, but I've always understood that the LTL and Truckload divisions were essentially like separate companies.

[Jackrabbit379]

Oh ok.

So, the Conway truckload are the guys who pull the 53' trailers, and that is who is buying CFI?..

[VitoCorleone99]

Originally Posted by Jackrabbit379

Oh ok.

So, the Conway truckload are the guys who pull the 53' trailers, and that is who is buying CFI?..

In terms of operations yes. ConWay has something like 250 trucks in its truckload division that pull 53' trailers. The rest of their big boxes are contracted out to other carriers (the largest share of which is already pulled by CFI). The guys pulling the doubles are ConWay Freight. Again, this is my understanding, so if I'm off I'm sure someone will correct me.

In a corporate finance sense, the company that owns all of the Conway operations is buying the company that owns all of CFI's operations.

[Jackrabbit379]

I see.

So, when yall talk about those Conway loads, that is Conway. Ok. I just figured it was an account or something...

The fog is clearing, now. :P :lol:

[Smokeeater]

Darn, there go the Sterlings lol :lol:

[BigDawg]

all i can say is i have talked to a few ConWay TruckLoad Teams all of them seemed very happy and content said they wasn't going any where.

[greg3564]

If I were at CFI, I would be really excited. CFI drivers are going to benefit in a huge way. Better benefits and retirement. I'm sure the cpm are probably better too. The one downfall is you will not have that small company feel.