Good luck over there. A lot of my SEA friends will be leaving. I have to find out who'a leaving in EVT. I know one, but not the other. C-ya
FedEx Freight | More layoffs !!!!!!!
- Thread starter westdriver
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Good luck over there. A lot of my SEA friends will be leaving. I have to find out who'a leaving in EVT. I know one, but not the other. C-ya
Slackdragon
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Well ...
The first thing being a senior driver (I guess you can call me that) I like what I'm doing and don't want the company to fail ...so I don't owe you anything.
The second thing is you will find out that its just not that much different over there ..... you still got to mow the grass
And last ...Good Luck To You ...
imported_River17
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westdriver
So what's the deal.
Conway runs loaded going southbound???
Conway is hiring big time in my state right now.... I see Bunches of them where there were only a few before.... Is it true they are operating at 105,,, ??? Losing a nickle for every dollar ??? We all know companies hauling a bunch of freight right now are losing money on it.... I sure hope our ,,,, hmmm,,, people,,, in HRO know what they are doing,,,, hopefully I can hold on to my job to see the turn around..... I would like to weather the storm and stay here,,,, if they let me....
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I don't want to see FedEx fail. I want them to get better. The path to a truely engaged workforce is not that difficult. They just won't do it.
I think it sucks that you have to leave. I wish nothing but the best for you.
I don't want to see FedEx fail. I want them to get better. The path to a truely engaged workforce is not that difficult. They just won't do it.
I think it sucks that you have to leave. I wish nothing but the best for you.
imported_River17
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365Volare
I'm not sure about Conway operating at 105 OR.
I will have to look that up and get back to you.
You will have to wait 12 more days to see the next quarterly report.
•Con-Way Second Quarter 2009 Earnings Call scheduled for Fri, July 24
I see them showing a loss this last two quarters
So, what makes a senior driver disgruntled? Looked around lately? More importantly, have you been around for awhile?
Not the same company I started with. Yes, things change and we must learn to adapt, blah, blah, blah. I'm just confused as to what I should term myself. At the beginning of this year I considered myself a senior driver. Right now I consider myself a somewhat senior driver. Aug 23 I will become a junior driver. Does that mean on Aug 23 I will no longer be a disgruntled senior driver but will become a gruntled junior driver? And yes, gruntled is a word. Look it up in your Webesters or whatever they call it.
365Volare
I'm not sure about Conway operating at 105 OR.
I will have to look that up and get back to you.
You will have to wait 12 more days to see the next quarterly report.
•Con-Way Second Quarter 2009 Earnings Call scheduled for Fri, July 24
I see them showing a loss this last two quarters
Primarily due to non recurring expenses, wonder what those are?
FM
imported_River17
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Give me a minute, I was researching that as I speak.
The only problem is that they won't put their OR in their 10Q report.
The only problem is that they won't put their OR in their 10Q report.
imported_River17
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Form 10-Q for CON-WAY INC.
8-May-2009
Quarterly Report
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
Con-way's consolidated revenue for the first quarter of 2009 decreased 19.9% from the same period of last year, reflecting recessionary economic conditions that contributed to lower revenue at all reporting segments.
In the first quarter of 2009, Con-way reported a $150.3 million operating loss due to a $132.7 million loss at Truckload and a $23.4 million loss at Freight.
The loss at Truckload resulted from a $134.8 million charge for the impairment of goodwill, as more fully discussed in Note 2, "Goodwill and Intangible Assets," of Item 1, "Financial Statements," while Freight's loss primarily reflects adverse economic conditions and a competitive freight market.
Freight's revenue in the first quarter of 2009 decreased 24.7% from the same period of 2008 due to a 12.4% decrease in weight per day, a 12.1% decrease in yield and a 1-day decline in the number of working days. The 12.4% decline in weight per day reflects a 12.8% decrease in shipments per day, partially offset by a 0.4% increase in weight per shipment. The decline in yield was due primarily to decreases in fuel surcharges and base freight rates. Freight volumes and yield reflect the current adverse economic conditions, excess capacity in the LTL market and a competitive pricing environment.
Summary of CON-WAY INC. - Yahoo! Finance
8-May-2009
Quarterly Report
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
Con-way's consolidated revenue for the first quarter of 2009 decreased 19.9% from the same period of last year, reflecting recessionary economic conditions that contributed to lower revenue at all reporting segments.
In the first quarter of 2009, Con-way reported a $150.3 million operating loss due to a $132.7 million loss at Truckload and a $23.4 million loss at Freight.
The loss at Truckload resulted from a $134.8 million charge for the impairment of goodwill, as more fully discussed in Note 2, "Goodwill and Intangible Assets," of Item 1, "Financial Statements," while Freight's loss primarily reflects adverse economic conditions and a competitive freight market.
Freight's revenue in the first quarter of 2009 decreased 24.7% from the same period of 2008 due to a 12.4% decrease in weight per day, a 12.1% decrease in yield and a 1-day decline in the number of working days. The 12.4% decline in weight per day reflects a 12.8% decrease in shipments per day, partially offset by a 0.4% increase in weight per shipment. The decline in yield was due primarily to decreases in fuel surcharges and base freight rates. Freight volumes and yield reflect the current adverse economic conditions, excess capacity in the LTL market and a competitive pricing environment.
Summary of CON-WAY INC. - Yahoo! Finance
imported_River17
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Familyman
Sounds like the same plan that everybody else is forced to follow while we have this overcapacity. There are outfits that need the cashflow to keep from closing the doors that are forcing everybody else to either lower the prices or forfeit the freight. And FXF does not want to lower the prices to the point that it is not profitable to haul. Hence all these layoffs and Purchased Transportation.
Me too.....I feel ya.
imported_River17
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Conway OR was 104.1
Con-way Revenue Drops to Just Below $1 Billion
Apr 30, 2009 3:07 PM
Overcapacity in the trucking market and recession-driven declines in volumes affected Con-way revenues and earnings.
"The freight markets continued to suffer from excess capacity and intense price competition,” commented Douglas W. Stotlar, Con-way's president and CEO. "While Con-way Freight posted losses in January and February, it returned to profitability in March, as we saw the benefit of some seasonal upturn in business and modest market share gains.”
Con-way Freight, the company's regional less-than-truckload operation and its biggest division, reported an operating loss of $23.4 million compared to operating income of $36.1 million in the year-ago period.
An operating ratio of 104.1 in the 2009 first quarter compared to 95.2 in first-quarter 2008, reflecting the tonnage declines and pricing pressures.
http://logisticstoday.com/logistics_services/news/conway-revenue-drops-0504/
Con-way Revenue Drops to Just Below $1 Billion
Apr 30, 2009 3:07 PM
Overcapacity in the trucking market and recession-driven declines in volumes affected Con-way revenues and earnings.
"The freight markets continued to suffer from excess capacity and intense price competition,” commented Douglas W. Stotlar, Con-way's president and CEO. "While Con-way Freight posted losses in January and February, it returned to profitability in March, as we saw the benefit of some seasonal upturn in business and modest market share gains.”
Con-way Freight, the company's regional less-than-truckload operation and its biggest division, reported an operating loss of $23.4 million compared to operating income of $36.1 million in the year-ago period.
An operating ratio of 104.1 in the 2009 first quarter compared to 95.2 in first-quarter 2008, reflecting the tonnage declines and pricing pressures.
http://logisticstoday.com/logistics_services/news/conway-revenue-drops-0504/
imported_Mike Varnco
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Conway is the CR England of LTL.
imported_River17
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Mike Varnco
I'm not so sure about that.
CR England is the largest refrigerated carrier in the US.
And YRC is still the largest LTL carrier in the US.
Followed by FedEx Freight in second place when you
consider that FedEx National is a part of FedEx Freight.
Not exactly sure who would be third nowadays.
You have Conway, Estes, Old Dominion, and UPS Freight all pretty close.
Huh!
Conway LTL division has cut wages, cut out 401 k match and has hired 5 of my old fedex friends that quit us because they were scared. They are hauling a lot of our freight we used to haul. And they still lost 20 something million and had an OR of 105. That is risky business today. Will they lose more if they haul more freight? I wish my old friends well.
Conway LTL division has cut wages, cut out 401 k match and has hired 5 of my old fedex friends that quit us because they were scared. They are hauling a lot of our freight we used to haul. And they still lost 20 something million and had an OR of 105. That is risky business today. Will they lose more if they haul more freight? I wish my old friends well.