JEVIC Suspends Operations

Discussion in 'Jevic Transportation' started by Jeff, May 19, 2008.

  1. turtle1621

    turtle1621 New Member

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    Good luck to everyone at Jevic

    Good luck to everyone at Jevic, especially the drivers and office staff at J7. I've never worked for a better company, and I will miss it!

    Here is an interesting, and well written article about Jevic's demise:>>>>>>>
    http://www.truckertotrucker.com/trucker/1/2008/05/Jevic-Transportation-Fails--ABF-Freight-Enjoys-Profitability.cfm







    Jevic Transportation Fails – ABF Freight Enjoys Profitability

    Jevic Transportation closed the doors, declared bankruptcy, told employees to go home, don't try to use health insurance and wished them well. It was abrupt, cold and final. About 1700 former employees are now looking for work.

    One the other hand, ABF Freight announced in April that their profits in the first quarter of 2008 had increased 78% from the first quarter of 2007. ABF is admittedly a much larger company that employs almost 13,000, but both companies had to face the same economic conditions. One increases their profits and the other goes broke. One could surmise that one had better management and therefor was successful – or one could surmise that there was more happening in the background at Jevic Transportation.

    The New Jersey, Courier Post Online reports that, “In 1999, the family [that owned Jevic] sold Jevic to Yellow Corp. (now known as YRC Worldwide Inc.) for $200 million in an all-cash deal. In 2006, a Yellow spinoff sold Jevic to Sun Capital Partners Inc., an investment fund in Boca Raton, Fla., for $40 million, plus $12 million in tax benefits." I'm not a financial expert, but I've been around long enough to at least wonder if there is more to the story than the public or the former employees of Jevic will ever know.

    I visited the Sun Capital Partners Inc. website just to get an idea of what this company does. Essentially they have billions of dollars to invest and they acquire businesses and then sell them off. With all the successes and managerial experiences that Sun touts, one would be hard pressed to explain how they managed to go broke in a little over 24 months with their investment in Jevic. In fact it doesn't appear as if Jevic really fit their investment criteria. However, if one was acquainted with tax write-offs and the other tools available to companies such as Sun, perhaps the real picture would come clear. Certainly Sun has the resources to have remained in business and they certainly have the resources to have been kinder to the employees that were summarily dismissed.

    I wish I was an investigative reporter – I could be wrong, but I think there's an interesting story here – one that might reveal just how cruel the investment world can be.

    This report is a little outside the general scope of the TruckerToTrucker blog, but our hearts go out to those that have suffered as a result of the shutdown of Jevic Transportation. I thought that there might be a bit of insight available to the small trucking businesses that are facing economic uncertainty. The lesson I learned was much different.
     
  2. 2631

    2631 Member

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    Corporate Vultures

    In just 9 years corporate greed has sucked the life out of a $200millon company......And to add "insult to injury", instead of giving the Jevic employees some type of severance package & temporary insurance coverage, they file for bankruptcy protection & will probably end up making a settlement in a WARN Act suit. Why not give that money to the employees instead of the lawyers?.....What kind of heartless SOB's would terminate their employee's medical insurance without any notice?
     
  3. Jockey

    Jockey Member

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    Heartless

    If u check on Sun Capitals history u will find they have a history of WARN act and labor law violations.They try to wiggle out of it thru legal loopholes. They like to acquire struggling companies.strip them to the bone ,then sell them.If they can't sell them they liquidate them.Anyone remember one of the biggest moves against Jevic employees?After selling off properties they stopped contributing to 401K.Hopefully they will get their come uppance this time.:butt kiss:Jevic employees a little smarter than they tought:chairshot:
     
  4. 2631

    2631 Member

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    As long as a law firm is willing to take the case on a contingincy basis then IMO they have a good chance of getting some type of settlement.... I'm sure that Sun has already factored that expense into their gameplan....Unfortunately only the larger terminals will share in any settlement.
     
  5. Double D

    Double D Member

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    We already have a lawyer on it! Based out of NY and they report they are already in another litigation with Sun Cap for the same thing. Any terminal with over 50 employess are included in the class action lawsuit, but only (so we are told) if not given prior notice to closure of Jevic...
     
  6. Double D

    Double D Member

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    Each and every employee needs to contact this lawyer as you are NOT automatically included...if anyone needs the contact info, please let me know. Hey, what do we have to lose? Even if it amounts to pennies, it is still more than Sun Cap left us with!!
     
  7. 2631

    2631 Member

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    Double D -You are correct, unless the lawsuit is heard as a "Class Action" suit, then only those named in the suit will be included.
     
  8. tster

    tster New Member

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    what is the lawyers number????double d????

    My papercheck bounced today. it was last weeks check from jevic.
    I am now negative, I have no money what so ever!!! I have to go to the bank now to find out what the check number was, what the extra charges will be and I dont know what to do, i want to contact a lawyer.. i just dont know who.
     
  9. 7of9

    7of9 Member

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    I hope this is an isolated instance or an eletronical error. If this is not the case, there will be 1500 families scrambling trying to figure of what to do. Tster keep us posted, my prayers go out to you and your family
     
  10. Double D

    Double D Member

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    Tster...This is what everyone was worried about! The contact info is...Outten & Golden 3 Park Ave, New York, NY 877-468-8836 Anna or Rene. I spoke with them yesterday and they report being very busy with Jevic calls so most likely you will be transfered to voice mail, just leave a message and they will call back...let me know if you need anything else.
     
  11. Double D

    Double D Member

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    SMOKESTACK...I know that this whole Jevic mess has been causing a disturbance on the board, and I am sorry...but please know that I and alot of other Jevic employess really do appreciate your cooperation with bending the rules...THANK YOU!!
     
  12. desert rat

    desert rat Member

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    YRC buys Jevic for $200 million and sells it for $52 million. There's something wrong with that picture. Good luck to all the guys at Jevic.
     
  13. Truckerwife723

    Truckerwife723 New Member

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    Just spoke to hubby. Someones paycheck from here at J6 bounced also. Hope the kids didn't want to eat this week. I don't get paid until next week.
     
  14. Double D

    Double D Member

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    Paycheck and vacation pay info listed on Jevics website...we gotta sweat this out for the next 6 weeks!! UUGGHH...
     
  15. Jockey

    Jockey Member

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    Vacation pay?

    Read statement on Jevic sight about vacation pay .It says accrued vacation time.Remember they changed policy at start of year.Earn vacation in quarters.Example,if u were due 4weeks vac this year and u already used 2,u won't be paid for other 2weeks.This was another policy change that indicates they were thinking about closures early on.Not sure this policy change was even legal.U earn vacation for work done last year.Should be entitled to all of it at an time.Lets hope for the best.Maybe they will pay all of it.:1036316054:Just be prepared for the worst:chairshot:
     
  16. SMOKESTACK

    SMOKESTACK Administrator Staff Member

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    Thank you Double D for the respect.

    I'm standing behind you guys .
    We are working with you here and
    will overlook most of the violations
    that have popped up. Communication
    is the key and if I can keep you
    guys tougher it seems like it will
    be the best for all of you right now.
    Lets keep all the info coming in so
    the drivers have place to keep up.

    Smoke
     
  17. Vwaggs

    Vwaggs Active Member

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    Smoke meant to say overlook violations. We are trying to do as much as we can to help everyone coordinate, reorganize and regain their footing in these trying times.
     
  18. tster

    tster New Member

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    I found out today that the paperchecks issued last week are going to bounce. If you have direct deposit you should be fine.
    Because I opted not to go direct deposit my check bounced and I had to find out what the check number was and had to send an email to jevic...
    I dont know what they are going to do about it now!!! I went to the bank to see if there was something they can do because I know I am going to get hit with overdraft fees!! the bank couldnt do anything at that moment.
    I am a single parent of 2. and now I am way way negative. I find myself competing against hundreds of ex employees for jobs in transportation and its not fair!!! if we were given proper notification like we should have been there never would have been a scramble for jobs.
     
  19. tster

    tster New Member

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    FOR IMMEDIATE RELEASE CONTACT: Ralph Shrom



    Thursday, May 22, 2008 (609) 265-5028





    COUNTY AND STATE OFFICIALS TO HOLD WORKSHOP

    FOR TERMINATED JEVIC WORKERS



    Information Session Set for Tuesday, May 27, 2008, at Human Services Facility





    Workers terminated this week with the sudden shutdown of Jevic Transportation, Inc. of Delanco will be provided directions on filing for unemployment benefits, as well as information on job search, placement and training and other services available to them during a workshop scheduled for this Tuesday, May 27, 2008.

    The informational session, which is scheduled for 2 PM at the Human Services Facility, 795 Woodlane Road, Westampton, is being coordinated through the combined efforts of the Burlington County Freeholders and Senator Diane Allen, in cooperation with the New Jersey Department of Labor. Senator Allen will provide an update from Jevic as to where things stand for employees.

    In addition to representatives from State unemployment and employment service offices, representatives of the County’s One-Stop Career Center, Burlington County College, and the Burlington County’s Board of Social Services are expected to participate.

    “We recognize that these employees were totally blindsided by Jevic’s closure,” said Freeholder Aubrey A. Fenton. “This is an unprecedented cooperative effort by State and County officials to assist them as quickly as possible in meeting their immediate and long-term needs.”

    Burlington County College is already offering tuition-free classes for workers who seek retraining. Among the programs available though Social Services, said Fenton, is the County’s homeless prevention program, but added that, “hopefully, that’s one program we can help them avoid.”

    Many Jevic employees have already contact Senator Allen and the County’s One-Stop Career Center seeking assistance; many also report they have already applied on-line for unemployment benefits.

    “This is a difficult time for hundreds of families in our area,” said Allen. “Coming to this meeting will help move the process along as each of them finds a way to put their lives back together.”

    Those planning to attend the workshop are asked to pre-register by calling the One-Stop Car eer Center at (609) 265-5603 or emailing the Center’s Coordinator, Kelly West, and kwest@co.burlington.nj.us.

    ###



    ALSO CONTACT: Marilyn Williamson, Senator Allen’s Office

    (609) 239-2800
     
  20. larry retired

    larry retired Active Member

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    Sorry for being so stupid, but exactly what rules are being broken here? Maybe by answering my question, you might help someone who plans to post relevant information.
     

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