Debt? Having debt is prudent financial management. Ever hear of leveraging?

:shock: :shock: You mean to say...Jerry Moyes didn't have 2.3 billion dollars to buy back his company???


:lol: :lol: Do ya suppose the former shareholders could reposses Swift from Moyes?? :twisted: :twisted:

Another thought...what affect will financial difficulties at Swift have on the other companies he has his fingers in... Central Freight out of Waco and Central Refrigerated Services out of SLC ??

Are we looking at a "Simonizing" here??? :shock: :shock:

March 19, 2008 PrintSaveE-mailSize: +/–SPECIAL REPORT: Speed limiter bill introduced in province of Ontario Wednesday, March 19, 2008 – Ontario Transportation Minister Jim Bradley introduced legislation today that, if approved, will make speed limiters mandatory on all heavy trucks doing business in the Canadian province.

Enforcement of the measure would begin sometime in 2009, Ontario government officials stated in a press release. There would be an initial six-month educational enforcement period.

The proposal toes the line of the Ontario Trucking Association, whose officials have been lobbying for the maximum speed of trucks to be capped electronically at 105 km/h, or 65 mph.

Officials with the Owner-Operator Independent Drivers Association say the legislation is not only flawed, but also premature because a study by Transport Canada on the environmental impact of speed limiters has not yet been completed.

OOIDA’s Government Affairs Counsel Laura O’Neill said Ontario lawmakers are catering to big business.

“It’s a one-sided gift to big business trucking operations disguised as sound science,” O’Neill told Land Line.

If approved, the measure would apply to all trucks doing business in Ontario, including U.S. trucks and trucks from other Canadian provinces, O’Neill said.

“We have presented them with opposing arguments and the studies to reinforce our point. The fact that they are doing this during a strained North American economy raises questions about the integrity of the office,” she said of the Ontario transport minister.

Transport Minister Bradley cited information that mirrors the Ontario Trucking Association’s lobbying materials regarding greenhouse gas emissions and crashes. OOIDA officials say those points are debatable.

“Slowing down big rigs on our highways would make our air cleaner and keep traffic moving at a safe speed,” Bradley stated.

OOIDA officials believe that speed-limited trucks will be stuck in the right lane, cause problems with merging traffic, and result in “elephant races” when trucks cannot pass one another.

OTA President David Bradley – no known relation to the transport minister – began lobbying for mandatory speed limiters in late 2005. OTA’s Bradley knows that the independents and small-business truckers oppose a speed-limiter mandate.

“Truck drivers are the least likely to be excessively speeding, but there are some who need to slow it down. This technology will allow us to do that without putting a further drain on police resources that would be better spent going after reckless motorists and criminals,” the OTA president stated in a press release.

O’Neill, on behalf of owner-operators and small-business truckers, said existing speed laws should be enforced by law officers and not through computer chips.

– By David Tanner, staff writer
[email protected]

www.landlinemag.com

Well this is the most current news item here so there must be nothing to it.

A lot of the big companies are in financial trouble right now, with Swift leading the pack. It didn't help that Jerry bought the company back and took it private, including the roughly $350 million in debt they already had. If Swift were to fold, it would actually be a blow to the entire industry, at least in the early going. It would make shippers and customers nervous and that's never a good thing.

It sounds as if it isn't a good time to be a company driver. Drivers would be a dime a dozen if a big company such as Swift were to go under.

It would be a zoo, that's for certain. With JB's execs selling major stock blocks, and fuel prices and the economy... Nobody wants to project anything beyond next week. It makes it very hard to get a solid contract now.

BTW, where are you guys getting your info? I'm out of the loop, found out about Rush from a PO'd shipper.

Swift going under would be a good thing. Taking that many trucks out of the mix would tighten supply. Demand static, supply drops, prices rise.

Yes - it would be a good thing eventually for trucking companies. It would be a horrible thing for company drivers.

So the Easter Bunny hates me too eh Rev? Tell him to take a number! :lol:

Ok maybe I must have missed it, but what two companies with 600+ trucks went under this past week? Also what flatbed company is sliding fast?

Yeah, I got me an MBA also, and you should remember from finance that one can be overleveraged.

Which might be the case with Mr. Moyes.

Your guess is as good as mine! They like to talk 'secretly' here, like in elementary school: "I know something you don't but I can't tell you". :roll: :lol: Then don't say anything at all. Thing is they want others to know they supposedly know more than you and I do but then won't tell you :evil:

Sadly, I'm sitting around waiting for a load, so this idle gossip passes for entertainment :D

Sorry you're waiting for a load. I guess this is indeed better entertainment than nothing. :lol:

Oh well,

I guess something really big did not happen. What are we going to do?
At least it was interesting for a day or two.

Good luck everybody.

Rush out of Michigan and Richardson out of Virginia closed up last week. Both were in the neighborhood of 650 trucks.

Don't know if Rush has closed, but their website is still active and they are still answering the phones.

Not questioning you, just stating facts...

There are 2 of them. The one we got the message on that had closed up (we've been getting a lot of calls from their drivers, too) is the one up in Grand Rapids. I think the other is in Indiana.

With all the turmoil and upheaval in this industry, me thinks it's going to be busy for ya this year Twilight....

Here is something big....Sirius just got permission to buy XM......

Now that is big!!!!!

What makes that big for me is I have been on the fence wich one to pick? I have to have my coast to coast but love to get my dose of Howard. ......The best of both worlds!!
As far as this "big News item" goes there always seems to at least one person on a message board that he has to play the role of the "informed". Like his one voice will sway the face of transportation in this country. LOL!!

Noob Q.
Why?

Last I checked, all the decent companies don't take Swifties with >1 year of experience because Swift's "driver school" ( I use that term loosely) is so bad.
And most people suckered to work for Swift don't stay much over a year, if that, so therefore it stands to reason that many of those who would be laid-off if Swift tanks will be considered unemployable.

Werner, CR england and JB Hunt will probably cut their driver's pay and miles even more to help make the incoming qualified Swifties feel at home. :lol:

As for swift, today we was counting trucks because we realized we had not seen many past couple days.

so in a 247 mile range we only counted 18 swift trucks. from denver to rawlins. i found it odd considering one can usually see upwards of two plus in a 20 mile section on major routes.

will be interestng to see what comes of this whole shabang.

Come to think of it...i've been driving up and down a short stretch of 80 here in Cali and don't remember seeing any Swift trucks...maybe i will pay more attention tomorrow, maybe :lol:

Rawlins is only about 20 miles from where i grew up... I used to go into Rip's all the time to get my haircut. I was going to move back there but there is nowhere to live, because the oilfield workers have bought everything up.

I'm sitting here in Phoenix and I saw a sh|tload of swift trucks today... wonder why? :lol: :lol: :lol:

okay I just read through ten pages to find out what the big news is! I think sheep should come back and at least let us down gently!

dont tell me, they all sitting t the "J" arent they, taking up parking spots for real drivers ;)

maybe they too scared to go to the terminal next exit down as they might be skeered of uncle Jerry :):)

Hey, you said it, not me man!. I can't get in trouble for poking fun at swift any more. Thanks Mr. Swift Police...

Bryan, you coming down here to AZ this week? I'm bored, come by and say hi!

It might be something like a weather forecast.

The forecaster says, oh tomorrow there is an 80% chance of thunderstorms be prepared for heavy rain ..... Then not a cloud in the sky.

Problem is, when they put that forecast together it was based on what was known and what would happen if weather systems behave in a certain manner. All it takes is for one or more of those recipe ingredients to not be there, have too much of, or not enough of to cause a forecast to go to the birds.

Same thing here with this situation. Sheepdancer was wanting to spread the news, but for some reason, one of those incredients that make up this news had too much of, or not enough of.

All I got to say is keep your ears eyes and nose working.

BTW, has anyone here read "Who Moved My Cheese?"

Hmmmm, maybe the big "happening" is going to be a "love-in" on the mall in DC, between the Democrats and Republicans, and "shrub" is going to finally own up to the fact that is is a flaming idiot without a clue and apologize for all of his mistakes, and Cheney is going to come out of the closet....and admit that he is really "Darth Vader" in "drag"?

(No, I'm not a Democrat or a "liberal"....so save the stupid comments 8) )

LOL i would come down., but i just left there, last week. and headed back north. on the 19th. 124 more miles and i drop this load then headed to the house for a week. so when i get back out you will be in your truck.

Talk soon.

I haven't seen but 1 maybe 2 Swift trucks in the past week in my area and they used to frequently pass thru here with a terminal being in Richmond. Odd thing is and I'm still trying to get better info, my brothers buddy drives a truck. He can't remember which company it is, said it was Swift or JB but that his buddy has been home the past week or so without any work........Told him to find out who he drives for and make sure he isn't simply taking a vacation.

Another 240 miles today, and only one swift truck all the way home.

all day yesterday and today, i seen walmart trailers all over the highways and roads. funny thing is, they were all being pulled by CRE trucks. passed a walmart dc. all england trucks, no swift trucks.

Whats going on.

On another note, I believe SD was onto something, and perhaps in fact the "Something big" did happen just not in the fashion all would have expected.

I would definately like a definate on whats going on or what has transpired. I have parked at the homefront today and going to enjoy some fishing this week. but if big companies are closing their doors or laying people off come monday. i am staying home.

headed here today i was able to count all the flatbeds passing by and i was able to recognize the freight on their decks. "cheap freight" from the same shipper. no way i am hauling it out of here.

CRE probably won a major bid no an account that Swift held before. These last 2 months have been big bidding months and you're seeing a lot of contracts changing hands right now.

walmart being a MAJOR acocunt for swift, that dfinately has to hurt them if they not in it now. ya think?

That it would.

At least I started a good thread...lol
I guess I owe everyone a beer. What I was talking about could still very much happen. However, it just hasnt yet....lol. I would be the first to not believe this if I heard it on the CB or it was from a "my friend who drives for them said it" type situation. But because of my source, I tend to believe it true.

And finally, The SHEEPDUDE speaks. :)

It was a holiday, I was out of town over the weekend. Fishing and drinking beer. How else are you supposed to spend easter?

:)
running loads of course. and looking for somehting big to happen... NOT!


now while everyone works the week away, i will go fishing and drink beer, and have the streams all to myself :P