Well I take back what I said about being sure we were going with them. After doing A LOT of research on them, I'm not so sure. We have narrowed it down to 4 companies. I will let you know if we decide to go with them after all.

Cynduck wrote

What did you find out...please, do tell.

Well what I am seeing on various boards from various truckers is that most of them say they aren't getting miles and there are issues with the owner running the company into the ground. I can't back that last part up though because I really tried research ownership - reading financials etc but a lot of that stuff is beyond my expertise at this point so I didn't understand it all. There was a comment made about their financials and really being in debt but again, I could not verify that. Financial stability is a concern though because I read that from several different sources. Another concern I have is how big there orientations seem to be and how many don't make it through. I'm not worried about my husband making it through - that isn't an issue, just that I would like to see them prescreening better so that they aren't wasting every one's time.

They dropped a lot on our list when they came back and offered my husband 2.5 cents less a mile because they won't count his local experience (even though he covered 6 states and they only require 5 to count as OTR).

There orientation pays well, their bonuses etc are very good as well as their 401K match. I like that just about everything is in writing and on the web - more companies need to do this. They also have profit sharing.

Over and over again I read how your first truck is a piece of junk no matter how long you have driven. I've also read that no truck is over 3 years old and honestly getting an older truck at first doesn't factor into this decision when we are only talking 3 years old.

Generally I found a lot more negative then I did positive (which I understand unhappy people talk a lot more) but what I read has me a little uncomfortable.

It's such a hard decision. We have forms I made up with about 45 questions on it that we get the info from each company we are looking at. We narrowed it down to 8 and I made up new forms with about 27 of the things that were most important to us. We have narrowed it to 4 now. I told my husband it is like comparing oranges to pumpkins. They are both orange but that's where similarities end. Trying to balance everything and make the best decision for our family is tough - we want someplace where we can stay.

Cynduck,

Good luck on the information search. TA was bought by a private equity investment firm in Feb 2006. The shareholders were paid off and the company delisted on NASDAQ under their former ticker TCAM.

Once a private equity investment firm gets their hands on anything it is very difficult to find financial information on them. All trucking comapnies are suppose to file their balance sheets with the Bureau Of Transportation Statistics ( www.transtats.bts.gov ). However, they can also request that the information be kept private and not for public access. You can poke around there and see if any TA info is there.

In the mean time here is some basic information to help you Google the equity firm.

Good Luck!

TA bought in Feb 2006 by private equity investment firm Goldner Hawn Johnson & Morrison Incorporated (also known as Goldner Hawn). This action took them private and TA stopped trading on NASDAQ as TCAM.

http://www.lexdon.com/article/Transp...ces/16430.html

Goldner Hawn Johnson & Morrison Incorporated WEB site is located here but little information can be obtained from it.

www.ghjm.com

Here is the SEC info sheets for both Goldner Hawn and TA just before the Goldner Hawn acquisition.

http://www.secinfo.com/d11MXs.z1jRc.d.htm

Thanks so much Sentinel

Transport America
 

Just a few words about a company that cares and they do they make your problem there problem to.I have been with them going on four years now and what time i have had :lol: Me and wife both drove for them me 4 yrs my wife 1.5 yrs we have a accident that was something you would never want to experience and transport was there and still are. My wife may drive again some day (I hope) but they told when she is ready they are ready. now that's family.thye pay is good and equipment is also great and getting better. always feal free to caotact me and i will tell all good and bad we all need to know it all.

putt1,

I've heard a lot of good about TA and they were actually on my short list when I was looking. I really liked their concept of the mandatory short refresher/training period and that you did not incur a contract as a result. That to me indicated a company who wanted to make sure it was putting safe drivers on the road.

The reason I did not apply at TA was their hire procedure and orientation location. Was told by the recruiter that drug screen, physicals and background checks were not done prior to going to the orientation. I have nothing to hide and expect my results would come out perfectly. But as a rule I won't go to companies using those conditions. I can not control what previous employers may say. I won't take a chance of having to pay my own way home, and losing pay, because a previous employer's contact point has a bad day and trashes me to vent, or knows nothing about me and uses a generic negative statement. Also drug tests have known to show false positives and I doubt TA would give you a second test right then and there to validate it.

As for the research angle on company financial, etc., that is a good thing for any person to do, if possible, before they hire on with a company. In this case TA sold out to a private equity investment firm and most companies don't go that route unless they are in some type of problem financial situation. Hopefully, no matter the reason, it will be a stable company. Unfortunately when private investment firms lay hands on a large company all bets are off!! The problem is since the investment company is private it is hard to find information on their track records with the companies they buy.

TA pays for your return trip home if you happen to get sent home. We discussed false positives and they do understand that they happen. A positive is not an automatic send home, tney will work with you.

They told us that if you have never had a drug charge or refusal to be tested, they investigate the positive before they will send you home. In short they are not trying to find a reason to send you home, they are looking for good drivers and understand that there are many variables in the trucking industry.

There are other indicators that you can look at to determine how the new owners are running the company. Their safety record has drastically improved since the new owners have taken over, you can varify this. It indicated to me that they are serious about the trucking industry and Transport America. They also have a great on time delivery rate. Again there are indicators other than exact financial records to indicate that they are serious and making money.

The only thing that I have been disappointed in, is the condition of their terminals, but I suppose that is not uncommon.

I would not through out TA because you cannot find the financial information that you are looking for.

Hi Hans,

I don't rule out any company just for their financial data. I perform quite a bit of research on any company I am interested in working for/doing business with. I've been through companies with financial problems and bankruptcies. It is very unsettling when a company reaches that point. Unfortunately many try to bail themselves out quickly by cutting costs in personnel and benefits first and that causes significant internal turmoil. The financial data is only one piece of the puzzle and can indicate if significant further research is warranted.

I can believe what you have said about TA paying for peoples ways home if they do not complete orientation. However, I only have what the recruiter states and possibly they should be briefed again on TA's policies as the recruiter is where I got that from.

As for the dramatic increase in their safety record that too I can believe. However, that is not necessarily a complete indicator of any trucking companies philosophy, nor their financial status, again only a small part. The DOT/FMCSA will bear down hard on any company who has a bad safety record. A company with a bad safety record will also be penalized by insurance carriers and heavy lawsuits. As such a company with a good or improving safety record is looking more toward their pocketbooks than other relevant areas of concern. By being safer does mean savings in insurance premiums, FMCSA/DOT fines, etc. However, safety does come at a cost and is not free which also affects the bottom line for the company.

On time delivery rates do not provide a specific indicator of the financial status of a company. On time rates indicate that the company has a more realistic calculation of transit times (dispatch speeds) for their loads, and/or they are watching their drivers closely, and/or they have sufficient TT's and drivers to ensure on time deliveries, and/or they have negotiated well with consignees and shippers, and/or they choose not to handle much if any time sensitive freight. If I was making the business decisions in a company and wanted to have a high on time rate I could sacrifice my operating margins (income to expenses, not necessarily the correct term) and dispatch at a slower average speed of 48 MPH and/or buy more TT's and hire more drivers. Either of those actions will cost me money but I can sacrifice some profit for the sake of displaying good statistics.

Without a view of a company's financial records then any indicator that is noticeable could possibly be fluff for the benefit of stockholders, investors, etc. Yes they could be true indicators of good financial health but I certainly would not bet my last dollar on them alone. Two very good examples of why indicators should not be trusted alone are Enron and Worldcom. Both of these companies worked very hard to provide good "indicators" to all but those that were stealing behind the scenes.

Not long ago I was asked what my thoughts were on Blue Thunder, an auto hauler. Have a friend who was considering going to them. In about two hours worth of research I could see the writing on the wall and knew this company was going under quick. Three weeks later they announced they were closing for good as they could not recover from Chapter 11. I never even had the opportunity to read their financial data. All I was able to do was find background info, press releases and basic info from company drivers. No, I'm not a financial guru but instead someone who has seen quite a bit in the past.

I have not thrown out TA at all but instead looked elsewhere for more suitable companies. Just as Cynduck does I too research a company before jumping in. Sometimes, as a friend once said, you have to call a halt to the research and jump in with both feet and find out. So true but not until you perform some basic research.

Just FYI - we said yes to another company this morning. TA called 3 different times today each with a different offer on mileage pay. That makes 5 times since we talked to them at the truck show that they changed their mind on what they would pay him (yes will count your experience, never mind won't count it all, never mind we will etc etc )