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New Penn | New equipment

  • Thread starter CAPTAIN AMERICA
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we ain't getting nothing new for at least a year. we're rehabbing everything we got. our pension money is supporting the matinece of our worn out equipment. that is the 75% we are not getting right now. if white volvos with npme stickers were here were do you think they would be comeing into the system at?
 
I have not seen any new power or any new trailers in the new penn system in at least five years. Eventually that will have to change, hopefully soon.
 
got one here in #03. seems like they may keep longer than2 weeks.installed computer stand in truck along with npme stickers on the door and #101 on front bumper. its funny how you want to stomp on the clutch and grab a gear but theres nothing there. other than that pretty smooth and comfortable ride the way they have this one set up. think the real test will be how they work in the snow,with all that auto shifting,and how traction is.
 
i dont know.didnt see cascadia stamped on the truck anywhere.but like always here at npme, they said here you drive truck, i was looking for basic things and where located. i dont think it matters because the main reason for these trucks is the auto trans. if the powers that be say yes to them,heard they would be in volvo;s.if they suck in the snow and ice they should give them to yrc since they dont run in bad weather.
 
I have seen a couple of re-branded Yellow vans now sporting New Penn logos. Have seen a bunch now in the Holland fleet.
 
teamsta said:
Equity....With purchase you build equity with rentals or leases you ultimately pay more.

They probably lease because they have no credit worthiness to purchase..why else? unless they own the leasing company and they use this to filter cash (which I doubt).
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My guess would be because if they dont own anything its real easy to walk away from everything, tractors, trailers, and terminals all go back to rightful owner and we get screwed once again, plus Yellow management says theres nice write offs at the end of the year,, guess thats one way to show a profit
 
Let me take a shot at this.

First, equity. You don't build any equity on rolling stock, it only depreciates. You will build equity on real estate as it generally goes up in price, trucks and trailers only go down. When purchased, the cost is all up front on the acquisition and there is no more cost after that time (other than fuel, maintenance, etc). When leased or rented the cost is higher and lasts for the entire time you use the vehicle and the leasing company gets to claim the depreciation. The reason you may choose to lease is that you don't have the money to purchase up front for example. Now, if you were to purchase with a loan, you would have an end point where you would stop paying for the acquisition, and would have the additional expense and corresponding credit for the interest. After the payments are done however, you gain the use of the vehicle without acquisition cost going forward.

Second. It's not really any easier to walk away from a leasing situation as there is a contract that still has to be honored. If there was just one subsidiary involved in the closing, the equipment could be transfered to the surviving subsidiary and stay in business. In a complete closing there would still be contracts that would have to be dealt with at bankruptcy. You couldn't lease equipment in one subsidiary, close it and walk away to operate the surviving concern without consequence.
 
But if you bankrupt you have nothing when all is said and done,, CF employees were still getting something from when CF closed, by leasing everything you have no equity and no means to pay back anyone
 
After 5 years, CF employees got about $85 from the bankruptcy court. I wouldn't make a decision on weather or not to lease depending on the idea that if I failed, there would be something to pay back to anyone.
 
what are u talkin about we have new trucks. how about the 800's yrc's old trucks. they r numbered 800 for a reason... 800k miles
 
I talked w/ milton driver in providence, milton tm told him that np is lookin to buy 90 tractors. did anyone here about this?
 
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