[jburd]

I heard last night that Swift just aqccuired a large portion of Werner.
Have any of you heard anything?
I guess ol' Jerry isn't satisfied with just Swift,Central,Central Refrigerated and anything else he might have his greedy paws into any more.
He wants the whole industry....a moyes monopoly is coming..:lol::bow:

They really should put the brakes on him and others who hire 30 wannabe truck drivers a week,then can them after a few months and still try to collect tuition.
Out my class in June 2009, 26 made it thru and only 4 known are still driving.:eek2: and at least 1 of them should not be.

[Dejanh]

Werner is much more stable company than Swift. It might be other way around....

Originally Posted by Dejanh

Werner is much more stable company than Swift. It might be other way around....

Agreed

[cdswans]

I haven't heard anything about Werner except for another older and similar rumor posted elsewhere but . .

I did hear a rumor 3 or 4 months ago . . I don't spread rumors . . that UPS was acquiring 5000 Swift and MSC trailers that were approaching retirement. Lo and behold, in the last few weeks, I've seen a dozen, or so, UPS tractors pulling Swift trailers. That's not too hard to figure out . . a lot of our customers now insist on Duraplate and none of the Txxxxx numbered Swift nor any of the MSC are Duraplate. It must have been a good deal for everyone.

As far as the health of Swift is concerned, one man's debt is another man's equity; it all comes down to your point of view. What really matters is cash flow and the ability to service debt. It seems to me that Swift is rolling along quite nicely. I believe there was an article posted here (CAD) that said Swift debt was selling for 27 cents on the dollar. While that sounds like a fire sale price, you have to consider why the seller was selling. There have been plenty of big bond (debt) houses that found themselves in deep do-do and needed to raise cash in a hurry and, if you're a speculator, why not try to buy at a fire sale price?

[cdswans]

Originally Posted by jburd

. . They really should put the brakes on him and others who hire 30 wannabe truck drivers a week, LIKE ME then can them after a few months and still try to collect tuition.
Out my class in June 2009, 26 made it thru and only 4 known are still driving.:eek2: and at least 1 of them should not be LIKE ME.

CFM is to Joesha-whatever as . . jburd is to Kevin?

The company that hired AN IDIOT LIKE ME is out of it's freakin' mind!

[VPIDarkAngel]

Originally Posted by jburd

I heard last night that Swift just acquired a large portion of Werner.
Have any of you heard anything?
I guess ol' Jerry isn't satisfied with just Swift,Central,Central Refrigerated and anything else he might have his greedy paws into any more.
He wants the whole industry....a moyes monopoly is coming..:lol::bow:

They really should put the brakes on him and others who hire 30 wannabe truck drivers a week,then can them after a few months and still try to collect tuition.
Out my class in June 2009, 26 made it thru and only 4 known are still driving.:eek2: and at least 1 of them should not be.

Hmmmm, IF that's true, I'd like to know what portion they acquired. Personally, I doubt they'd do that. If anything, I'd say it'd be the other way around.
Also, doesn't Dick Simon run Central Refrigerated still? I didn' think the guys at Swift had anything to do with that outfit.

[Bumper]

Moyes's son in law runs Central Refrigerated. Simon has nothing to do with it since he gave...er...sold it to Moyes.

[jburd]

yeah Bumper,I heard it was his daught...so daughter or son inlaw it's all the same.Jerry's son has Central freight or a majority.All in the family.I reckon that's the way to go.

Rumors are everywhere and they change a little every time they're passed along.
Sooooooooo anyway I heard about the buyout or partial of Werner from another Swifty.

[boneebone]

Originally Posted by cdswans

I haven't heard anything about Werner except for another older and similar rumor posted elsewhere but . .

I did hear a rumor 3 or 4 months ago . . I don't spread rumors . . that UPS was acquiring 5000 Swift and MSC trailers that were approaching retirement. Lo and behold, in the last few weeks, I've seen a dozen, or so, UPS tractors pulling Swift trailers. That's not too hard to figure out . . a lot of our customers now insist on Duraplate and none of the Txxxxx numbered Swift nor any of the MSC are Duraplate. It must have been a good deal for everyone.

As far as the health of Swift is concerned, one man's debt is another man's equity; it all comes down to your point of view. What really matters is cash flow and the ability to service debt. It seems to me that Swift is rolling along quite nicely. I believe there was an article posted here (CAD) that said Swift debt was selling for 27 cents on the dollar. While that sounds like a fire sale price, you have to consider why the seller was selling. There have been plenty of big bond (debt) houses that found themselves in deep do-do and needed to raise cash in a hurry and, if you're a speculator, why not try to buy at a fire sale price?

UPS is leasing the trailers from Swift, they did not purchase the trailers and most of the trailers were in long term storage when UPS made the deal.

[jonp]

Originally Posted by boneebone

UPS is leasing the trailers from Swift, they did not purchase the trailers and most of the trailers were in long term storage when UPS made the deal.

One of the rumors going around the Pageland, SC Wal-Mart Distribution Center is that us express is losing so much money on that business having underbid Swift to get it that they will not renew their contract and UPS is going to try and take it over.