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ABF | ABF Eyes Acquisition, New Services, Incoming President Slagle Says

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ATLANTA — ABF Freight System is evaluating the addition of new service offerings and a possible acquisition at the corporate level, the incoming president of the less-than-truckload carrier said here last week.

Roy Slagle, who will become president of ABF on Jan. 1, outlined a corporate process called the Horizon Growth Initiative that includes top officials at parent Arkansas Best Corp. such as CEO Judith Mc-Reynolds. Slagle, who spoke at an industry meeting here, was selected in September to succeed Wes Kemp, who will retire on Dec. 31 after 43 years with the company.

The company’s initiative, which has no publicly announced timetable for completion, reflects a broader set of service offerings that Slagle has said ABF is evaluating as he prepares to take over his new post.....................

ABF Eyes Acquisition, New Services, Incoming President Slagle Says | Transport Topics Online | Trucking, Freight Transportation and Logistics News
 
"Part of its offerings will include an intermodal service focused on the truckload market, Slagle said.

Speaking about capital investment plans for next year, Slagle said, “We have the dry powder to invest.” ABF said it had more than $137 million in cash at the end of the third quarter."

I'm hoping that a lot of us that are starving can get some work in the non-union intermodal division that they are going to roll out.
 
Funny thing, not too long ago they were saying, "all we have is $200 million and we'll be out of money in less than a year, please give us a 15% charitable donation for your future". Now they make it sound like they have a huge pocket of change that's burning a hole in their pocket and they want to go cherry picking in tough times. There is nothing wrong with that practice as long as they're smart about it. Bill Zollars wasn't too smart about it and neither was ABF in 1995 when they bought Carolina Carriers. I still wince when I think about that purchase and how ABF would have been history if we had today's economy then. We are still losing business left and right for some reason and new business is not coming in to fill the void. Is it just unprofitable freight that they are letting go of, are they preparing for the 2013 negotiations, or are we just losing business due to price? I just hope they don't go and blow their rainy day money and put us in the same boat with YRC.
 
ABFer said:
Funny thing, not too long ago they were saying, "all we have is $200 million and we'll be out of money in less than a year, please give us a 15% charitable donation for your future". Now they make it sound like they have a huge pocket of change that's burning a hole in their pocket and they want to go cherry picking in tough times. There is nothing wrong with that practice as long as they're smart about it. Bill Zollars wasn't too smart about it and neither was ABF in 1995 when they bought Carolina Carriers. I still wince when I think about that purchase and how ABF would have been history if we had today's economy then. We are still losing business left and right for some reason and new business is not coming in to fill the void. Is it just unprofitable freight that they are letting go of, are they preparing for the 2013 negotiations, or are we just losing business due to price? I just hope they don't go and blow their rainy day money and put us in the same boat with YRC.[/QUOTE]



It's a thought. I Have seen some bad dispatching of late. Example waiting almost 4hours for a load when I get my TP2 I noticed the trailers closed 3 1/2 hrs earlier. Not just once but several times. I asked one dispatcher why am I waiting when there is a load ready to go. was told they wanted me to wait for LTL frt. not the 2 one billers that were timekeepers and went with a driver a 1/2 hr after me. go figure!
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Im just wondering if they are preparing another COO and they might be trying to scare us. Maybe more people would have agreed to the last COO if they thought ABF would bought another company then moved some work to them if the Teamsters didnt agree to the change.
 
Well the Prez can use that capital reinvestment money that they have stored in those retained earnings accts that are protected from taxes.that money can only be used for purchasing tractors and other equipment.if not used for that purpose.taxes can be assessed on the whole lot in those accounts.YRCW has been utilizing those kinds of accounts for a while now.nothing new.
 
With the economy being the way it is.and a tax happy congress.these corporations are utilizing retained earnings accounts to the fullest
 
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