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XPO | Just my thought on the end of Conway as we know it.

it wasn't a article in the paper or online it was a message for truckload employees as i already indicated but you still want to try to convince me with your bull i was there when he said his plan was to have us pull flatbed and reefer (not the kind your smoking) now if it was a recent development to sell (after less than 2 weeks after his speech) then he doesn't have a plan and is just winging this mess. read more as he got in trouble misclassifying independent contractors that were actually employees so to save him some tax money union claims he took their pension to pay for the french fleet he is not gambling with his own money so he will be ok weather this works or not. you don't work for truckload do you or you would know where this is i have already secured my future just waiting til the last minute to decide which way to go i'm done here some good but the bull is too deep from trolls
 
eamsters: XPO spends $3.5 Billion in wages stolen from California truckers to buy French company

PR Newswire
Apr. 29


Today, XPO Logistics, whose port truck drivers at subsidiaries Pacer Cartage ("Pacer") and Harbor Rail Transport ("HRT") are currently on strike at the Ports of Los Angeles and Long Beach and at Pacer facilities adjacent to the U.S.-Mexico Border, announced the acquisition of French 3PL Norbert Dentressangle for $3.5 Billion in cash and debt.

Statement by Fred Potter, Director of the International Brotherhood of Teamsters Port Division:

"We are shocked to learn that just as XPO Logistics battles the company's immigrant port truck drivers in California Superior Court to avoid reimbursing them more than $2 Million in illegal deductions stolen by the company's subsidiary, Pacer Cartage, from their paychecks, the company has gone on what is being called an "acquisition spree." The timing of the announcement is particularly shocking in light of the fact that Pacer Cartage and Harbor Rail Transport drivers are currently on strike from Los Angeles down to the U.S./Mexico border to protest the company's illegal business and labor practices."

Statement by Humberto Canales, Port Truck Driver for Pacer Cartage:

"I can't help but wonder if the reason that XPO has enough cash on hand to buy another company for $3.5 Billion isn't because they are avoiding business expenses like payroll taxes and equipment maintenance by misclassifying us as independent contractors. I worked 48 hours a few weeks ago and they deducted so much from my check that I literally made zero dollars. This just isn't right." (Click here for a copy of Mr. Canalaes' paycheck for the period ending March 12, 2015, is attached.)
On Wednesday, April 29, 2015, starting at 2:30 PM (Pacific time), striking port truck drivers from XPO's subsidiary Pacer Cartage will be joined on the picket line at Union Pacific's Los Angeles Transportation Center (LATC) by hundreds of
 
First of all you have to look at the source for the article, Fred Potter of the teamsters. Second of all, you should just quit already as it seems that you have already made up your mind that he is going to sell off truckload. There is no amount of reassurance it seems from others on this board to keep you from panicking and beating your drum so do what you have to already.
 
Northern Flash said:
Once in a while, a troll comes up with some rational thinking.

In regards to your article, who would stay at a job where you work 48 hours and their paycheck was literally zero? I'd be gone the next day.
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Trolls are bad. It happens.

Work 48 hours and don't get paid. Not gonna happen twice. For damn sure.
 
Volnuck said:
You speak as if this guy is the " Bill Gates" of the trucking industry. I hope and pray that this turns out at least o.k. For everyone. However, I have never seen a group so positive about being bought out. Many football coaches try to invent the " new great offense or defense, " which in reality it comes down to running, blocking, and tackling. The same is true of the LTL industry. Hard work, good equipment, happy employees, and excellent service and rates is the bottom line. You can't make the customer change, and that is what has to happen for an elete new step in the LTL industry to happen. When customers and LTL companies start working together then massive changes can and will happen. Not when some young billionaire gives great pep talks.
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He's racked up, what... over 500 acquisitions in his business career so far. Pretty impressive for a not so young 59 year old...wouldn't ya say? Just saying...
 
vetran peddleman said:
He's racked up, what... over 500 acquisitions in his business career so far. Pretty impressive for a not so young 59 year old...wouldn't ya say? Just saying...
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That's part of the worry though. His whole thing is to buy a bunch of stuff up and flip it. He ain't here for the long haul. He's doing this to get paid big money quickly. His end goal is to sell off whatever all he has bought up for massive personal gain. It's what he does.
 
highspeeds said:
Work 48 hours and don't get paid. Not gonna happen twice. For damn sure.
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Some friends of mine from Alvan Motor Freight made that mistake. They kept getting promised that if they'd just keep working without receiving a paycheck, it would help keep the company afloat and give them an opportunity to survive. Several weeks later they shut the doors and screwed the guys out of thousands of dollars. They only ended up paying them pennies on the dollar. I'll never make that mistake.
 
vetran peddleman said:
He's racked up, what... over 500 acquisitions in his business career so far. Pretty impressive for a not so young 59 year old...wouldn't ya say? Just saying...
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Good luck. I hope you are this positive in 12 months. I have no desire to be mean spirited, I've just been involved in 2 buyouts and never been that rosey.
 
highspeeds said:
That's part of the worry though. His whole thing is to buy a bunch of stuff up and flip it. He ain't here for the long haul. He's doing this to get paid big money quickly. His end goal is to sell off whatever all he has bought up for massive personal gain. It's what he does.
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Yah, no doubt that he's in it for the money, no doubt about that at all. He buys companies and consolidates them into something bigger and then flips them for a massive killing: i.e. 'United Rental' and 'United Waste', no doubt about that either, no doubt about that at all. However I don't think that he intends to sell off what he is now building, namely a world brand: 'XPO Logistics.' It seems to me that he bought and flipped many smaller companies in order to get to where his main end goal is now, namely building a global company. Will he keep building this global brand?... yes I think he will. I've read some news articles that suggest that he,(Jacobs), wants to take a breather and consolidate the back offices of Con-way Inc. w/ what he already owns. After he's digested and lined up all his Conway and Norbert Dentressangle ducks in a row, he'll probably buy more companies that he's strategically targeted to further build his global empire. I'm not saying that he will stop selling companies that he buys, (Conway TL will probably be let go), but rather I'm saying that perhaps Conway and Norbert Dentressangle-SA are foundational pieces of his master plan that he wouldn't flip for fear of undermining his global brand. And even if he did flip his baby after achieving his dream of becoming a worldwide mega super logistics and transportation company that would give FEDEX and UPS a run for their money, it wouldn't matter cause his brand would be so well established that it would most likely continue on its own very successfully without Mr. Jacobs. I think !!!
 
vetran peddleman said:
Yah, no doubt that he's in it for the money, no doubt about that at all. He buys companies and consolidates them into something bigger and then flips them for a massive killing: i.e. 'United Rental' and 'United Waste', no doubt about that either, no doubt about that at all. However I don't think that he intends to sell off what he is now building, namely a world brand: 'XPO Logistics.' It seems to me that he bought and flipped many smaller companies in order to get to where his main end goal is now, namely building a global company. Will he keep building this global brand?... yes I think he will. I've read some news articles that suggest that he,(Jacobs), wants to take a breather and consolidate the back offices of Con-way Inc. w/ what he already owns. After he's digested and lined up all his Conway and Norbert Dentressangle ducks in a row, he'll probably buy more companies that he's strategically targeted to further build his global empire. I'm not saying that he will stop selling companies that he buys, (Conway TL will probably be let go), but rather I'm saying that perhaps Conway and Norbert Dentressangle-SA are foundational pieces of his master plan that he wouldn't flip for fear of undermining his global brand. And even if he did flip his baby after achieving his dream of becoming a worldwide mega super logistics and transportation company that would give FEDEX and UPS a run for their money, it wouldn't matter cause his brand would be so well established that it would most likely continue on its own very successfully without Mr. Jacobs. I think !!!
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It has been mentioned that Waste Management and United Rentals have continued on without him just fine. And that the past is an excellent indication of what the future may be.
 
That was my point earlier. All LTL companies have tried to make this happen forever. It always unravels defore the true success can ever be seen. Customers and LTL companies are not a good business partners, on a long term basis.
 
icuicp said:
They ( XPO ) have impressed a lot of people that work here by deciding to clean house when it comes to upper management.

The next step is seeing who takes the place of the outgoing regime. I hope it's not " The king is dead , long live the new king " scenario. In other words " Meet the new boss , the same as the old boss..."

There's supposed to be a nationwide search taking place for "new" upper management. We shall see.....
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Curious as to who was let go at teh palace...
 
icuicp said:
These numbers are easily manipulated. If Con-way's Operating Ratio would have been below 95 for two consecutive quarters , theoretically , we would have received 3% match on a 6% contribution.
Larger purchases ( like thousands of new Cascadias ) can throw off the OR - and if you wanted , you could make the OR higher or lower based on how you put a large purchase on the books.
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Not only that, Con-way reports numbers on non-GAAP. So even dicking with the numbers they still can't get it right!
 
vetran peddleman said:
Yah, no doubt that he's in it for the money, no doubt about that at all. He buys companies and consolidates them into something bigger and then flips them for a massive killing: i.e. 'United Rental' and 'United Waste', no doubt about that either, no doubt about that at all. However I don't think that he intends to sell off what he is now building, namely a world brand: 'XPO Logistics.' It seems to me that he bought and flipped many smaller companies in order to get to where his main end goal is now, namely building a global company. Will he keep building this global brand?... yes I think he will. I've read some news articles that suggest that he,(Jacobs), wants to take a breather and consolidate the back offices of Con-way Inc. w/ what he already owns. After he's digested and lined up all his Conway and Norbert Dentressangle ducks in a row, he'll probably buy more companies that he's strategically targeted to further build his global empire. I'm not saying that he will stop selling companies that he buys, (Conway TL will probably be let go), but rather I'm saying that perhaps Conway and Norbert Dentressangle-SA are foundational pieces of his master plan that he wouldn't flip for fear of undermining his global brand. And even if he did flip his baby after achieving his dream of becoming a worldwide mega super logistics and transportation company that would give FEDEX and UPS a run for their money, it wouldn't matter cause his brand would be so well established that it would most likely continue on its own very successfully without Mr. Jacobs. I think !!!
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During the investors conference call, Jacobs said that there was 1 or 2 more small to medium sized deals in the works, but he didn't elaborate whatsoever on what those deals were about. Just kinda wondering if anyone else has heard anything since then
 
draggin wagons said:
During the investors conference call, Jacobs said that there was 1 or 2 more small to medium sized deals in the works, but he didn't elaborate whatsoever on what those deals were about. Just kinda wondering if anyone else has heard anything since then
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No. This is all he is talking about. He has said over and over that he plans to slow the number of acquisitions over the next year. But that there would be considerable more purchases over the next five.
 
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