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- Truck Driving Jobs: What About This Trucking Company? (https://www.classadrivers.com/forum/truck-driving-jobs-what-about-trucking-company-15/)

- - TMC going bankrupt!!! (https://www.classadrivers.com/forum/truck-driving-jobs-what-about-trucking-company/33120-tmc-going-bankrupt.html)

Point #2 may well be true! Had seen that first hand while I was there. Just told them, if they cannot handle the competition, get out of the kitchen! I for one love a little competitive spririt.

Quote:

Originally Posted by GoldiesPlating

Point # 1:
Is it only me or does anyone else think it would be strange for TMC to keep getting 2,500 trucks washed EVERY SINGLE WEEK and paying for it if they were about to go bankrupt?

THAT fact alone should quell the baseless rumors.

Point # 2:
SOMETIMES TMC drivers do all in their power to keep new drivers AWAY from TMC as any new driver could be seen as a competitor for freight against existing drivers. Less drivers = More freight choices for existing drivers

Flatbed Fred.

Quote:

Originally Posted by countryhorseman

If I remember correctly, Von can probably remember this, but TMC has no outstanding public debt. i.e. TMC is 100% solvent! No banks, finance companies, etc. have any hold on TMC!

Well I would like to think that, but the registration for my truck lists the owner as "General Electric Capital" not TMC or AHI. That is not a bad thing and it makes sense to finance a truck for five years rather than pay cash and tie up capital. Capital should be kept liquid in order to pounce on opportunities.

Regarding the truck washes: 2800 trucks being washed at $50 each per week costs the company $140,000 per week, or $560,000 per month. In a cash flow crunch we could wash every other week and save the company over a quarter of a million dollars. That amount would purchase 67,469 gallons of fuel , and allow us to travel about 391,325 additional revenue producing miles in that month. Of course that is only 139 additional miles per truck in that month. (based on at $4.15 per gallon and 5.8 mpg)

I DO NOT BELIEVE A WORD I HEAR UNLESS I HEAR IT ON THE C.B. RADIO!!! :lol:

Quote:

Originally Posted by countryhorseman

If I remember correctly, Von can probably remember this, but TMC has no outstanding public debt. i.e. TMC is 100% solvent! No banks, finance companies, etc. have any hold on TMC!

Maybe there is no debt on the hard assets (land, buildings, and fixed assets). I would seriously doubt that, for cash flow purposes, any company would not finance the trucks. That would leave cash available for seasonal income fluctuations. Also, if there was any default on a note (not saying that there ever was, is now or ever will be!), no one could take a building, just a frikken truck. Just a hunch on my part.

old info , old post, don't believe it

Old rumor new source.
Chapter 11 restructure.
Pretty confident of the source.

Quote:

Originally Posted by carterbeauford

what's with all the bad information lately? CAD is becoming channel 19.

"when you guys get together you're worse than a sewing circle" name the movie :D

"Pulp Fuction" Mrs. Mia Wallace to Vincent Vega. They were at JackRabbit Slim's if I remember correctly :D

Quote:

Originally Posted by Sammonman

Old rumor new source.
Chapter 11 restructure.
Pretty confident of the source.

Still B.S. - nothing shows up in the dockets for the state of Iowa regarding Chapter 11 filings of TMC or Anette Holdings!

Double, sorry - our internet is sending wierd messages tonight!