new century closing sc terminal

Discussion in 'New Century Transportation' started by eagle1604, Jun 17, 2011.

  1. Local_Driver

    Local_Driver Pyle People deliver

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    O by the way Bruins44 I posted this last year, I don't think things have got any better over there, if i'm correct the IPO was a flop.. I can give you a link to the IPO if you like? it's pretty long, but you can at least see what the salaries for the Harry, Molinary, and English are, I think it will piss you off!
    New Century Transport to raise up to $120M in IPO

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    NEW YORK

    Trucking company New Century Transportation Inc. hopes to raise up to $120 million in an initial public offering of its common stock.

    The number of shares to be offered and the price range for the offering have not yet been determined.

    The company said in a regulatory filing late Wednesday that it plans to use the proceeds to pay off bebt.
    New Century expects to trade on the Nasdaq Global Market under the symbol "NCTX."

    The company moves freight throughout the continental United States and parts of Canada, but its main focus is moving less-than-truckload shipments originating in and out of the Northeast. Its biggest shipments are industrial goods and food, but it also ships chemicals, consumer and retail stock and pharmaceutical supplies.

    Less-than-truckload, or LTL, shipments are consolidated into one truck from several shippers.

    For the full-year 2009, the company lost $5.1 million compared with a 2008 loss of $1.2 million. The last time it posted a net profit was 2005.

    Revenue fell to $203.1 million from $229 million in 2008
     
  2. Jockey

    Jockey Member

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    Sounds like Harry has gotten Bruins44 to drink the Kool Aide, he wouldn't be the first.
     
  3. a9faninnc

    a9faninnc Super Moderator Staff Member

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    So are you a former pissed off Jevic driver or do you just like posting :shit: in forums that dont concern you??
     
  4. a9faninnc

    a9faninnc Super Moderator Staff Member

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    Considering you are the author for over half of all the New Century threads,I find it hard to believe youve never worked here.Since nobody from this forum comes to your lawn and takes a :shit:,we would appreciate the same courtesy.
     
  5. uwork4me

    uwork4me Member

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    local seems a little pissed.....turn that negative energy into positive and work real hard for your current employer...all your wishing will do nothing to help NCTY'S demise
     
  6. Bruins44

    Bruins44 New Member

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    Yeah Local is has nothing better to do. He didnt apply at NC because he knew the answer. NO THANKS!! Oh and Pyle is much betteryeah right. Lets face it unless your with Abf no one is getting time and half after 8 hours so please get a life. Oh and to answer your question I was invited in Harry's office as I have been for the last ten years.

    You want to talk about IPO? It was started by Jefferies and no one else. Who in there right mind would want a trucking IPO in the middle of a historic ression. Please wake up. It was all driven by Jefferies and their wall street connections. If you look at the even bigger picture Jefferies wants to sell thats how private money works. They flip companies to buy other companies. So by starting the IPO talk the get attention. Just like local does on this board stir the pot and see what sticks. As far as kool aid I started at NC Jan 2 2001 so no need to drink it. Times are tough for everyone we have the balls to say we are struggling but we arent dead yet. So go cause trouble on the PYLE board.
     
  7. uwork4me

    uwork4me Member

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    WOW----the IPO SAYS NCTY LOST 12.1 MIL the last 12 months?---NO PROFIT SINCE 2005..WHAT THE HELL IS REALLY GOING ON HERE?
     
  8. Jockey

    Jockey Member

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    Unfortunately what it means is even for you start turning profit, all the money goes toward debt.
     
  9. a9faninnc

    a9faninnc Super Moderator Staff Member

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    IMO,this is a very "top heavy" company.Too many bosses with bosses.Seems like their is plenty of freight so thats the only conclusion I can see.
     
  10. uwork4me

    uwork4me Member

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    I agree...where's the overhead? no terminals and they give 90% of their freight away..i dont see how they are losing money..and why would anyone invest ?
     
  11. skullduggery

    skullduggery Member

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    Westhampton facility and some shop they have in willingboro from what I was told
     
  12. Jockey

    Jockey Member

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    Have to wonder if Delanco lease will be renewed.No more truckload division.
     
  13. a9faninnc

    a9faninnc Super Moderator Staff Member

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    I was part of truckload and liked it.Much more laid back than Westampton.I think they did away with it so they could cover LTL loads and truckloads with any driver.Also,bigger isnt always better in trucking.
     
  14. gliderman

    gliderman New Member

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    when they did away with truckload did they up your pay to what LTL drivers are making
     
  15. a9faninnc

    a9faninnc Super Moderator Staff Member

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    yea,I guess thats a consolation,but I would go back to truckload in a second,if I could.
     

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