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Central Transport | 1ST Quarter Results -Vitran posts 17.6 million loss, revenues down 13.1%

luci said:
I hope others will add to this post if it is incorrect, but I believe the function of a holding company would be the way Vitran cuts the U.S. off from the Canadian side to keep us from sinking the entire thing.
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in actuality, a holding company is not a trucking company, and cannot see anyone touching us, if anyone would, it would be another trucking company, this industry is not something you get into on a whim
 
From my quick research.....2010 Qtr 1 = $0.9 loss, Qtr 2 = $1.7 profit, Qtr 3 = $3.0 profit, Qtr 4 = $1.7 loss.
2011Qtr 1 = $0.2 loss, Qtr 2 = $2.3 loss, Qtr 3 = $3.4 loss, Qtr 4 = $8.1 loss.
2012 We begin chasing greatness as CK comes in and dumps all the "Marginal at best Management" as Gaetz put it. Qtr 1 = $4.8
loss, Qtr 2 = $3.3 loss, Qtr 3 = $10.1 loss, Qtr 4 = $18.0 loss.
2013 Qtr 1 = $17.6 loss

Call me silly but it sure seems to me the management running the place prior to 2012 and CK's regime were doing a hell of a lot better job!!! Maybe not great, maybe things weren't smooth as butter, but boy, the numbers CK and his boys have put up aren't even in the same ballpark.
 
joebobin said:
From my quick research.....2010 Qtr 1 = $0.9 loss, Qtr 2 = $1.7 profit, Qtr 3 = $3.0 profit, Qtr 4 = $1.7 loss.
2011Qtr 1 = $0.2 loss, Qtr 2 = $2.3 loss, Qtr 3 = $3.4 loss, Qtr 4 = $8.1 loss.
2012 We begin chasing greatness as CK comes in and dumps all the "Marginal at best Management" as Gaetz put it. Qtr 1 = $4.8
loss, Qtr 2 = $3.3 loss, Qtr 3 = $10.1 loss, Qtr 4 = $18.0 loss.
2013 Qtr 1 = $17.6 loss

Call me silly but it sure seems to me the management running the place prior to 2012 and CK's regime were doing a hell of a lot better job!!! Maybe not great, maybe things weren't smooth as butter, but boy, the numbers CK and his boys have put up aren't even in the same ballpark.
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Wonderful.....That says it all. Thanks so much!!
 
luci said:
I hope others will add to this post if it is incorrect, but I believe the function of a holding company would be the way Vitran cuts the U.S. off from the Canadian side to keep us from sinking the entire thing.
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You are correct Luci, Canada does not want to go down with the Vitanic.
 
joebobin said:
From my quick research.....2010 Qtr 1 = $0.9 loss, Qtr 2 = $1.7 profit, Qtr 3 = $3.0 profit, Qtr 4 = $1.7 loss.
2011Qtr 1 = $0.2 loss, Qtr 2 = $2.3 loss, Qtr 3 = $3.4 loss, Qtr 4 = $8.1 loss.
2012 We begin chasing greatness as CK comes in and dumps all the "Marginal at best Management" as Gaetz put it. Qtr 1 = $4.8
loss, Qtr 2 = $3.3 loss, Qtr 3 = $10.1 loss, Qtr 4 = $18.0 loss.
2013 Qtr 1 = $17.6 loss

Call me silly but it sure seems to me the management running the place prior to 2012 and CK's regime were doing a hell of a lot better job!!! Maybe not great, maybe things weren't smooth as butter, but boy, the numbers CK and his boys have put up aren't even in the same ballpark.
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Makes you wonder if C.K. really came over to Vitran on his own accord, or was he "Installed" as a sort of secret agent man by Fedex to sink us???
 
joebobin said:
From my quick research.....2010 Qtr 1 = $0.9 loss, Qtr 2 = $1.7 profit, Qtr 3 = $3.0 profit, Qtr 4 = $1.7 loss.
2011Qtr 1 = $0.2 loss, Qtr 2 = $2.3 loss, Qtr 3 = $3.4 loss, Qtr 4 = $8.1 loss.
2012 We begin chasing greatness as CK comes in and dumps all the "Marginal at best Management" as Gaetz put it. Qtr 1 = $4.8
loss, Qtr 2 = $3.3 loss, Qtr 3 = $10.1 loss, Qtr 4 = $18.0 loss.
2013 Qtr 1 = $17.6 loss

Call me silly but it sure seems to me the management running the place prior to 2012 and CK's regime were doing a hell of a lot better job!!! Maybe not great, maybe things weren't smooth as butter, but boy, the numbers CK and his boys have put up aren't even in the same ballpark.
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Joe....Putting it in red was a nice touch...We are going in the wrong direction....Numbers don't lie....The new FXF management team have failed to turn this company around. Look at these numbers.....They are red....Not black.
 
That kind of loss could be sustainable in the very short term, BUT with the double-digit decline in revenue to go with it, filling out app's seems to make the most sense for the majority of us. I'm sure CK and some of the upper crust will be taken care of when the time comes.
 
sadsack679 said:
That kind of loss could be sustainable in the very short term, BUT with the double-digit decline in revenue to go with it, filling out app's seems to make the most sense for the majority of us. I'm sure CK and some of the upper crust will be taken care of when the time comes.
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they already know where they are going. but winging the rest or are they??
 
Honestly I think they know it's too late to save this company....They are just waiting for the shareholders to pull the plug...Where else can they make the kind of money they are for being a failure? Just look at these numbers in red.....That is a complete failure. Greatness is long gone and nowhere to be found.
 
OK I don't get it. I was looking at the numbers on Vitran web site and if I read them right cost are down from last year. There was less money spent on fuel wages and maintenance. I know that we lost some revenue last quarter but how can are losses be*double that of last year.
 
No doubt less money on maintenance. We don't repair anything, we patch equiptment together. We try to hire qualified mechanics at $15 per hour. We don't give them the proper parts for repairs, the boneyards are almost picked clean. We fail to address the CORE issues with this company while we continue to spend time and revenue on useless employee surveys--that will be ignored because the answers were not correct, time and money on continually hiring and training new recruits, only to have them leave after 1 or 2 weeks, time and money on being certified for LCV's on the turnpikes only to fail for equiptment issues. I for one, am tired of being preached to about CSA scores and inspections only to bring out the duct tape as the only salvation.
 
I filled out 28 applications on friday and 3 three more just now...I ain't no fool. I just saw a fat lady and yes, she was singing.
 
I have already heard the spin from regional: "these numbers do not tell the true story-that it is not what it looks like". Get ready for the lies. Management will spin the facts even while they are putting the pad lock on the gate. Truth is they are just repeating what they are told to say and some of them may believe it themselves.
 
sadsack679 said:
No doubt less money on maintenance. We don't repair anything, we patch equiptment together. We try to hire qualified mechanics at $15 per hour. We don't give them the proper parts for repairs, the boneyards are almost picked clean. We fail to address the CORE issues with this company while we continue to spend time and revenue on useless employee surveys--that will be ignored because the answers were not correct, time and money on continually hiring and training new recruits, only to have them leave after 1 or 2 weeks, time and money on being certified for LCV's on the turnpikes only to fail for equiptment issues. I for one, am tired of being preached to about CSA scores and inspections only to bring out the duct tape as the only salvation.
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Excellent post sadsack679
 
our TM is doing what he is told too, spin it into something it is not,,,, sadly it annoys those of us who know what is actually going on
 
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