Central Transport | merger/ buyout
- Thread starter fudgie
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had enough
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that's what i was thinking. if they start switching the way they conduct business along the lines fed ex does. if the computer system gets overhauled and the top corp people slowly get changed with former fed ex employees, we will prob wake up one day and there will be a video to watch on a monday morning.
fartknocker
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This conversation is being had on the Fedex board also. I dont buy it. Fedex bought successful LTL companies to build freight,money makers with good technology. There is already a FXF Canada,so that doesnt jive. Keylon is a great guy,he at least doubled his income with this move.
had enough
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sometimes it's easier to buy someone out rather than compete with them and seeing we're struggling, fed ex could probably buy us cheap.
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isn't the world suppose to come to an end in 2012 and chris is suppose to return? or is that christ?
fartknocker
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realtree said:
Nope,I wish I had his bank account though!
fartknocker, thats what had me confused one of our drivers said he thought they would buy us for the customers only which doesn't make sense since nobody has their own customers anymore. and why would Chris leave Fedex just to be bought out
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maybe he moved over here to slowly transisition us over to fed exs way of doing business and when all of the criteria is met then break the news of the transaction. vitran is too big just for someone just to purchase the company and switch the way of running it overnight. i've got friends who drove for american freightways and were treated fair before fed ex bought them and liked the change even better.
fartknocker
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I still say there is nothing to it.When Fedex bought AF they did so because AF was ready to go out of the box. AF had a good customer base and technology. I dont see any strategic reason to buy Vitran.
thats already has happened, look at what the ltl side is hauling now, mostly supply chain stuff.
also vitran is heavy in debt and and owns very little in the way of terminals and equipment.. plus their remaining customers are junk accounts.
Lots of discussion around our barn,too, along these lines.
Same conclusion. Who, sober, would buy us? There are virtually no assets, once you remove the huge volume of debt. What was the debt they just took on, like 145 million, or something? Plus the new trailers and trucks (more debt). We have managed to lose most major accounts. Fed Ex can outbid us on any account, bigger, better, more financially stable-so they don't need us for a customer list...
I suspect this is Vitran's attempt at :(1)trying like hell to get back on their feet and revamping the whole system, to become a profitable company. I think there are too many entrenched kiss/cover asses to succeed. or (2) make themselves look attractive to a potential future buyer-this will take time. The Economy will play a large role in whether #1 or 2 succeed. or there's (3) drive the stock up again, and the top executives abandon ship, cashing out their stock options on the way out the door...