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New Century Sold also???

H

ha ha harry

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Looks like New Century Trans has been sold to Jeffries Capital Partners. They're a subsidiary of ING. Since NC is privately held, having trouble substantiating this.

The word has been rampant on the street though.

It's big news if Harry cashed in. I suspect lot's of upset employees.

:biglaugh: :biglaugh: :biglaugh: :biglaugh:
 
Dirty White Boy said:
No, not Harry? Harry wouldn't do that, would he? :nutkick: He's good people. Just ask "Dollar Bill'.:biglaugh:
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it does not matter to me if he sold it or not no money in my pockets. you got to feel your days are number at jevic.:smilie_132:
 
Latest news at NC is that all the VP's over at NC disappeared at noon yesterday and didn't return.

Perhaps an announcement was made to the crew that will benefit from the cash out???

What about all the poor slobs that helped build the company? Where'd their shares go from a couple of years ago???

Man that's gotta suck.

Word is that over 20 drivers are inquiring about returning to Jevic.
 
ha ha harry said:
Looks like New Century Trans has been sold to Jeffries Capital Partners. They're a subsidiary of ING.
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Haven't been able to confirm it but keep in mind that the spelling is "Jefferies". Makes a difference on googling. Jefferies Capital Partners website is http://www.jefcap.com/
 
Moparman said:
How long do you think Jevic is going to be around?If i was a betting man i would bet not long!
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Moparman everyone is entitled to an opinion. Certainly you are. But overwhelmingly all your comments just keep saying the same thing about our "demise".

There's really no substance, or value to what you comment. Just the same thing over and over. Perhaps Dollarbill could join you.

How about we get Jeff or one of the moderaters to start a new forum just for you. You could title it "I have some sort of unknown hardon for Jevic, please read me"

Another suggestion for a title would maybe be "Moparman and Dollarbill's Brokeback anti Jevic propaganda area"

A third title suggestion, and it's just a suggestion, could be "Harry is my David Koresh"
That way, we can enjoy our conversations here and you could have a place all your own.

Just a thought. Perhaps someone else has other title suggestions for Moparman's new area?
 
Ok gabby, i won't say anything more on the subject and i hope i'm wrong for your sake.But don't say i told you so when the sheet hits the fan.Good luck to you all.
 
Sold down the river again. The Pied Piper of trucking. The Man who invented 18 Wheelers.
The Million Dollar MF'er who tried and FAILED to buy back His 1st Born.In the words of
Steve Miller "Oh Oh take the money and RUN"
Good bye. God bless .Good riddence.
See you at the Truck Show.
Don't forget to Kiss Karen for me.
Enjoy Retirement. See you around.
Catch you Later. In the words of another
great Americian.Alfred Newman.......
"What Me Worry?" Them Shiny Red Trucks look a little less Red Today.
Lewis-Skippy-Jim A. Good Luck.
Your Daddy abandon you Again.
 
Well so far all I've heard from over at the New Cenutry camp is denials.
Stories include that "Jefferies" is actually referring to Harry's son. Nice try.
Other one I was told is that Harry met with ING to use them to finance him buying Jevic back.
Folks, he can't go public with the fact that he sold out because it'll shake New Century to the foundation.


What are those poor people working there and all those loyal customers going to do when the truth comes out?
 
If you go to the Jefcap site you will see that they lend quite a bit. I wonder if they are just borrowing from these guys.

The information is too strong to say that New Century has nothing to do with these guys, considering they consider themselves transportation experts, just wondering to what extent are they actually involved.
 
As far as all the intel we have, he sold the company to them to pull out his money.

I think it's hush hush because all the former Jevic people who followed him will feel like they were betrayed. I guess alot of them went there hoping to be part o something big, but you can only invent the wheel once.

Jefferies being Transportation experts is very telling. Why not borrow from a regular lending institution if there wasn't more to this?

That's what I like about the Jevic deal. Sun Cap has no interest in running us. It's up to us to swim or swim. (not an error the way I typed that).
 
Friend of the frog said:
I wonder if they are just borrowing from these guys.
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Private equity firms do not "lend" money. They aren't banks. They are investors. They will put money into a company but they take something in return. Such as a position on the BOD, a say in the management of the company and a piece of the pie. You would not borrow money from a venture capital firm and then make payments back.

Just to play devil's advocate (because I can), one report mentioned that SunCap did not buy Jevic but a subsidiary of SunCap did. How about the posibility that HM offered up NC as collateral to SunCap to form a subsidiary for the purpose of hiding the fact that he's buying Jevic back? Or he's taken on investors in NC to use the capital to form a subsidiary to buy Jevic, keeping SunCap as the front. Both are valid scenarios. Both would be considered expansion financing. Jefferies would get a piece of New Century; SunCap would get a piece of Jevic and everyone gets what they want.

Or, there is a mother ship hovering over Delanco and I'm channelling Ronald Reagan. :)
 
YOU GUY'S THINK WAYYYYYYYYY TOO MUCH!!!! HE CAME , HE BUILT, HE SOLD!! PLAIN AND SIMPLE! MABY IT'S ABOUT TIME HE GOT OUT WHEN THE GOING WAS GOOD. HE MADE BACK HIS MONEY. :bgroovy: NOW ITS TIME TO MOVE ON :wavey: . SO LETS SAY GOOD BYE TO THE "KING OF ALL SLAVES" :wavey: LET HIM ENJOY HIS RETIREMENT AND WHO KNOWS ONE DAY HE WILL PULL UP TO THE WAWA AND ASK THE OLD PREZ. OF JEVIC"HEY ARE THEY HIRING HERE AND IF NOT CAN YOU MAKE MA A SANDWICH PAUL' :biglaugh: OR HARRY WILL SAY HHmmmm MABY I WILL BUY ME A WAWA SO I CAN SELL OUT THESE PEOPLE DOWN THE RIVER ALSO JUST A TOUGHT
 
Those people gotta be nervous. The truth is out there and all their leaders are denying everything.

Guess that without Harry, New Century doesn't amount to much. :biglaugh:
 
ha ha harry said:
Those people gotta be nervous. The truth is out there and all their leaders are denying everything.

Guess that without Harry, New Century doesn't amount to much. :biglaugh:
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seems like new century got 2006 new jersey ltl carrier of the year.the must be doing something right over there.:tongue1:
 
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