I wouldn't quit I would just call in sick the rest of the week so it does not affect the unemployment pay
JEVIC Suspends Operations
- Thread starter Jeff
- Start date
I wouldn't quit I would just call in sick the rest of the week so it does not affect the unemployment pay
State Sen. Diane Allen, R-7th of Edgewater Park, said she was troubled by the lack of notice the company provided its employees. She said her office is researching whether the company violated state and federal laws that require companies to provide 60 days' notice of a closure or mass layoffs.
Senator Diane Allen maintains a district office to serve the residents of the 7th legislative district. The district office is located at:
7th Legislative District Office
11 West Broad St.
Suite B
Burlington City, NJ 07090
The district office can also be reached by email, telephone and fax.
Email: [email protected]
Phone: 609-239-2800
Fax: 609-239-2673
7th Legislative District Office
11 West Broad St.
Suite B
Burlington City, NJ 07090
The district office can also be reached by email, telephone and fax.
Email: [email protected]
Phone: 609-239-2800
Fax: 609-239-2673
ok longhaul.. you wanna give me your address so I can send you the bill for a new monitor and keyboard.. cause this one has Dasani all over it!!!
- Credits
- 419
ok longhaul.. you wanna give me your address so I can send you the bill for a new monitor and keyboard.. cause this one has Dasani all over it!!!
I drove by today. they had security guards standing out in the rain at every entrance. I wonder if they know its a 50/50 chance they will get paid to do that too??? hmmmm...
and I worked there for 3 years.. I am bitter... but I have developed friendships with men who had worked there in dispatch for over 20 years..... those are the guys who deserve at least some kind of severance If I am not getting anything... being dedicated to Jevic for that long........ and to cut our insurance all in one day and no pay...
screw them.
and I worked there for 3 years.. I am bitter... but I have developed friendships with men who had worked there in dispatch for over 20 years..... those are the guys who deserve at least some kind of severance If I am not getting anything... being dedicated to Jevic for that long........ and to cut our insurance all in one day and no pay...
screw them.
Please read...Important
Please write her a letter. The more letters she gets the better. She is looking into about Jevic may have broken either NJ or Federal Law.
Senator Diane Allen maintains a district office to serve the residents of the 7th legislative district. The district office is located at:
7th Legislative District Office
11 West Broad St.
Suite B
Burlington City, NJ 08016
The district office can also be reached by email, telephone and fax.
Email: [email protected]
Phone: 609-239-2800
Fax: 609-239-2673
Please write her a letter. The more letters she gets the better. She is looking into about Jevic may have broken either NJ or Federal Law.
Senator Diane Allen maintains a district office to serve the residents of the 7th legislative district. The district office is located at:
7th Legislative District Office
11 West Broad St.
Suite B
Burlington City, NJ 08016
The district office can also be reached by email, telephone and fax.
Email: [email protected]
Phone: 609-239-2800
Fax: 609-239-2673
- Credits
- 419
Nikkita stop reposting this
over and over again.
7 times is enough for now .
over and over again.
7 times is enough for now .
- Credits
- 419
I do understand we want to get the word out to all the drivers.
Not sure if that is an issue.I recieved(ok,the wife)a Fed EX letter stating operations stopped Mon.Doesnt that mean that those of us still working are on a voluntary basis??
Don't know... Just don't want to see anybody to get screwed twice
BeerinMexico
TB Lurker
- Credits
- 0
Finished at J7 yesterday, was only getting a few hrs and figured I would make more on unemployment than dragging out the week and helping them ship stuff for auction. Sad that others did not see it that way but I just figured I did not owe them anything and they made it clear that my decision would not affect unemployment. It may help some of the guys that will have problems finding jobs suck a little more cash out of Jevic, thats if they even get paid for it. Good luck to all, and ty to all the good drivers n fellow employees I have met at the company.
marksmentrans
TB Lurker
- Credits
- 0
From my experience with them, I would say you hit the nail on the head:TR10driving03:
hilemanhouse
TB Lurker
- Credits
- 0
If the trucking industry goes down we are all screwed
Read The Following Articles, Then Make Your Own Conclusion About Sun Capital
Read The Following Articles, Then Make Your Own Conclusion About Sun Capital
1st article is taken directly from the Sun Capital Partners website:>>>>>> http://www.suncappart.com/index.php?
Sun Capital Partners, Inc. Announces Closing on Sun Capital Partners IV, LP, a $1.5 Billion Leveraged Buyout Fund
April 28, 2005
BOCA RATON, FL Sun Capital Partners, Inc., a leading private investment firm specializing in underperformers, turnarounds and other special situations, announced today the closing of Sun Capital Partners IV, LP ("Fund IV"), a $1.5 billion leveraged buyout fund. Subscriptions for Fund IV surpassed the original $1.0 billion target due to demand from existing and new domestic and international limited partners. Participating in the new fund are university endowments, fund-of-fund investors, pension funds, high net worth individuals, families and trusts.
Sun Capital affiliates acquire companies with strong market positions or franchise value, but with poor performance, significant operational challenges or in cyclical or changing industries. Sun Capital then uses its in-house resources and operating expertise to assist these companies in improving their performance. Since its founding in 1995, Sun Capital affiliates have acquired more than 80 companies in a wide variety of industries. Combined revenues of Sun Capital's portfolio companies are in excess of $20.0 billion.
With offices in Boca Raton, New York, Los Angeles and London, Sun Capital is one of the most active private equity firms in the United States, having completed 58 acquisitions in the last 40 months throughout North America and Europe.
Marc J. Leder, Co-CEO of Sun Capital said, "We are pleased to close on the new control leveraged buyout fund and are extremely appreciative of the continued support of our limited partners. We welcome our new investors to our family of limited partners and are enthusiastic about the investment opportunities for Fund IV".
2nd article is taken from this website:>>>>>> http://www.altassets.com/news/arc/2007/nz10722.php
Sun Capital Partners V closes on $6.0bn
11/04/2007
Sun Capital Partners, Inc., a US private investment firm focused on leveraged buy-outs, equity and debt, has announced the closing of Sun Capital Partners V, L.P., a $6.0bn leveraged buy-out fund. The firm said that subscriptions for Fund V surpassed their original $4.0bn target due to demand from existing and new US and international limited partners.
Participating in the new fund were university endowments, fund-of-fund investors, public and private pension funds, financial institutions, and high net worth family offices and trusts.
Marc J Leder, Co-CEO of Sun Capital said, 'We are pleased to close on Fund V and are extremely appreciative of the continued support of our limited partners. We welcome our new investors to our family of limited partners and are enthusiastic about the investment opportunities for Fund V.'
Since its founding in 1995, Sun Capital affiliates have invested in and managed 145 companies worldwide with combined sales in excess of $33.0bn. Sun Capital has offices in Boca Raton, Los Angeles, and New York, as well as affiliates with offices in London, Tokyo, and Shenzhen.
So Sun Capital Partners have already opened and closed at least 5 leveraged buyout funds, making millions off the backs of hard working people (people like the employees of Jevic).
Now read this article:>>>>>> http://www.aykya.com/finance/leveraged_buyout.asp
Leveraged Buyout: The Name Is Bond, Junk Bond![/B]
FundingPost explains that a leveraged buyout is a transaction whereby one company acquires another, by buying out a significant portion of its equity using borrowed money. A leveraged buyout is also called a highly leveraged or bootstrap transaction. In this type of deal, the ratio of debt to equity is skewed very heavily towards the former. Often, the assets of the target company are used as collateral for the loan that needs to be taken in order to pay for the takeover. The loan in a leveraged buyout could be taken from a financing institution, or more often, raised from the public, by floating high yield bonds also known as junk bonds. Once the acquisition is complete, the target company might be made private, giving the new owners greater control. That’s when they move into the kill, restructuring the company, literally taking it to pieces and selling parts of it to other buyers for huge profits.
Investors in a leveraged buyout have several options, including purchasing the bonds as mentioned above or buying equity through a specialized leveraged buyout fund. Although the large debt component increases risk to investors, it also holds the promise of significant returns at the time of exiting the investment.
The leveraged buyout concept has been around for over 40 years. It spent a couple of quiet decades, before really coming into its own in the 1980s. The tactic came in for a lot of flak, as it was perceived to destroy value and have a very disruptive effect. Naturally, it attracted the attention of the media as well as the regulatory authorities, and also forced vulnerable companies to reinforce themselves against the possibility of a hostile takeover. The “poison pill” or a tactic whereby target companies self-destruct in the event of a takeover was a direct reaction to the leveraged buyout. Talk of cutting off the nose to spite the face!
The spectacular rise of the leveraged buyout in the 1980s was shortlived, ironically undone by its own success. Everyone wanted a slice of the junk bond pie, and so much money was poured in that it pushed prices up and changed the buyout pricing and financing structure altogether. The leveraged buyout was officially dead when the stock markets were booming in the early 1990s, but seems to be resurrecting itself in a different form since the dotcom bust when sanity returned to valuations.
Experts believe that the buyout will make a comeback, as buyout firms are now faced with attractive options of taking over financially distressed companies, which have realistic expectations of valuation. However, they may not bring in the mind numbing returns of the glory days. A different strategy of deal making is in the offing. Leveraged buyout companies are more likely to target newer companies, with an entrepreneurial bent and technology intensity, as opposed to large companies in mature industries. The focus is also likely to move away from pure financial acumen to operational expertise. Acquirer companies are beginning to take a more active interest in the operations of the target company. And finally, the centre of the universe is shifting! More and more deals are happening outside of the United States, in Europe and Asia, as the industry turns global.
Draw your own conclusion about Sun Capital's real intention from the moment they bought Jevic!
Read The Following Articles, Then Make Your Own Conclusion About Sun Capital
1st article is taken directly from the Sun Capital Partners website:>>>>>> http://www.suncappart.com/index.php?
Sun Capital Partners, Inc. Announces Closing on Sun Capital Partners IV, LP, a $1.5 Billion Leveraged Buyout Fund
April 28, 2005
BOCA RATON, FL Sun Capital Partners, Inc., a leading private investment firm specializing in underperformers, turnarounds and other special situations, announced today the closing of Sun Capital Partners IV, LP ("Fund IV"), a $1.5 billion leveraged buyout fund. Subscriptions for Fund IV surpassed the original $1.0 billion target due to demand from existing and new domestic and international limited partners. Participating in the new fund are university endowments, fund-of-fund investors, pension funds, high net worth individuals, families and trusts.
Sun Capital affiliates acquire companies with strong market positions or franchise value, but with poor performance, significant operational challenges or in cyclical or changing industries. Sun Capital then uses its in-house resources and operating expertise to assist these companies in improving their performance. Since its founding in 1995, Sun Capital affiliates have acquired more than 80 companies in a wide variety of industries. Combined revenues of Sun Capital's portfolio companies are in excess of $20.0 billion.
With offices in Boca Raton, New York, Los Angeles and London, Sun Capital is one of the most active private equity firms in the United States, having completed 58 acquisitions in the last 40 months throughout North America and Europe.
Marc J. Leder, Co-CEO of Sun Capital said, "We are pleased to close on the new control leveraged buyout fund and are extremely appreciative of the continued support of our limited partners. We welcome our new investors to our family of limited partners and are enthusiastic about the investment opportunities for Fund IV".
2nd article is taken from this website:>>>>>> http://www.altassets.com/news/arc/2007/nz10722.php
Sun Capital Partners V closes on $6.0bn
11/04/2007
Sun Capital Partners, Inc., a US private investment firm focused on leveraged buy-outs, equity and debt, has announced the closing of Sun Capital Partners V, L.P., a $6.0bn leveraged buy-out fund. The firm said that subscriptions for Fund V surpassed their original $4.0bn target due to demand from existing and new US and international limited partners.
Participating in the new fund were university endowments, fund-of-fund investors, public and private pension funds, financial institutions, and high net worth family offices and trusts.
Marc J Leder, Co-CEO of Sun Capital said, 'We are pleased to close on Fund V and are extremely appreciative of the continued support of our limited partners. We welcome our new investors to our family of limited partners and are enthusiastic about the investment opportunities for Fund V.'
Since its founding in 1995, Sun Capital affiliates have invested in and managed 145 companies worldwide with combined sales in excess of $33.0bn. Sun Capital has offices in Boca Raton, Los Angeles, and New York, as well as affiliates with offices in London, Tokyo, and Shenzhen.
So Sun Capital Partners have already opened and closed at least 5 leveraged buyout funds, making millions off the backs of hard working people (people like the employees of Jevic).
Now read this article:>>>>>> http://www.aykya.com/finance/leveraged_buyout.asp
Leveraged Buyout: The Name Is Bond, Junk Bond![/B]
FundingPost explains that a leveraged buyout is a transaction whereby one company acquires another, by buying out a significant portion of its equity using borrowed money. A leveraged buyout is also called a highly leveraged or bootstrap transaction. In this type of deal, the ratio of debt to equity is skewed very heavily towards the former. Often, the assets of the target company are used as collateral for the loan that needs to be taken in order to pay for the takeover. The loan in a leveraged buyout could be taken from a financing institution, or more often, raised from the public, by floating high yield bonds also known as junk bonds. Once the acquisition is complete, the target company might be made private, giving the new owners greater control. That’s when they move into the kill, restructuring the company, literally taking it to pieces and selling parts of it to other buyers for huge profits.
Investors in a leveraged buyout have several options, including purchasing the bonds as mentioned above or buying equity through a specialized leveraged buyout fund. Although the large debt component increases risk to investors, it also holds the promise of significant returns at the time of exiting the investment.
The leveraged buyout concept has been around for over 40 years. It spent a couple of quiet decades, before really coming into its own in the 1980s. The tactic came in for a lot of flak, as it was perceived to destroy value and have a very disruptive effect. Naturally, it attracted the attention of the media as well as the regulatory authorities, and also forced vulnerable companies to reinforce themselves against the possibility of a hostile takeover. The “poison pill” or a tactic whereby target companies self-destruct in the event of a takeover was a direct reaction to the leveraged buyout. Talk of cutting off the nose to spite the face!
The spectacular rise of the leveraged buyout in the 1980s was shortlived, ironically undone by its own success. Everyone wanted a slice of the junk bond pie, and so much money was poured in that it pushed prices up and changed the buyout pricing and financing structure altogether. The leveraged buyout was officially dead when the stock markets were booming in the early 1990s, but seems to be resurrecting itself in a different form since the dotcom bust when sanity returned to valuations.
Experts believe that the buyout will make a comeback, as buyout firms are now faced with attractive options of taking over financially distressed companies, which have realistic expectations of valuation. However, they may not bring in the mind numbing returns of the glory days. A different strategy of deal making is in the offing. Leveraged buyout companies are more likely to target newer companies, with an entrepreneurial bent and technology intensity, as opposed to large companies in mature industries. The focus is also likely to move away from pure financial acumen to operational expertise. Acquirer companies are beginning to take a more active interest in the operations of the target company. And finally, the centre of the universe is shifting! More and more deals are happening outside of the United States, in Europe and Asia, as the industry turns global.
Draw your own conclusion about Sun Capital's real intention from the moment they bought Jevic!