Wow.. I never thought I would be posting, but I think a few things should be explained about what Simple723 posted.. First off one of the reasons Chris and Pjax are still retaining there names is for our customer base.. Companies(I.E Customers) get nervous and dont like change esp when they have been doing business with the same company for many years.. By them retaining there name for now.. It gives our customers a sense of security.. Eventually we will all transition to the Vitran only name.. But it takes time..
As far as the pjax guy buying up 50% of vitran stock.. Not true at all... The pjax guy was put in charge because he is very good at his job. And in this tough economy things could be much worse. Look at some of the other trucking companies.. Before vitran acquired Pjax. Pjax was turning record profits, and was/still is a very Successful Company. Pjax was never in any danger of going out of business like some people seem to, or like to think. As far as Vitran being in a hole, and buying pjax to bail them out.. I know nothing about that.. The whole reason was to expand vitran's/pjax's/Chris's coverage area.. and to bring everyone together to form a stronger company for the future.
We also really cant blame anybody in general for the Vitran stock dropping.. I mean people get a grip and wake up.. The Stock market crashed over the past eight months or so.. Everybody's stock has dropped in record numbers.. Not just Vitrans.. Major companies are shutting down.. Wage cuts..The unemployment rate is at record highs.. Everybody is cutting back/ downsizing to adjust for the recession.. The trucking industry in general has taken a major major hit... I feel bad for everybody that has been laid off.. Been there... On the upside.. Most of the major terminals have been staying pretty busy this past month.. People that have been laid off are being hired back.. Thats a good sign!! And I know we are still closing terminals, but the company feels that it can maintain its level of service from the larger terminals, and cut some expenses.. I guess time will tell??
On a final note.. Wether it be Chris/Vitran/Pjax.. We all work for the same people.. And everybody needs to show respect for each other.. We all want the same thing.. Make money provide for our family etc...