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XPO | Oh boy, now things will get really interesting

Conway Lifer said:
"The deal is expected to close next month, and Con-way will then be merged with another XPO subsidiary." Now I can see all kinds of problems right out the gate. Who is this other, "Subsidiary"?
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It could just be an accounting maneuver - in other words, the subsidiary is a shell and "merging with a subsidiary" vs. being part of the main corp is done for some tax or other benefit.
 
beingpissed on said:
go on their website and see what they pay. Also they said they want to really make more money. It won't matter to me I am done. Just saying
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They are a broker company. No one pays benefits to owner ops. Compare apples to apples at least. Besides, pissed on doesn't work here.
 
upnorth said:
They are a broker company. No one pays benefits to owner ops. Compare apples to apples at least. Besides, pissed on doesn't work here.
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Exactly. They are a broker. This is the first time they have purchased a fleet. How long until they pare it down and sub it out ? Swift driver runs for 28 cents a mile. What do we get paid ? I mean what DID we get paid ?
 
beingpissed on said:
go on their website and see what they pay. Also they said they want to really make more money. It won't matter to me I am done. Just saying
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People make it sound like it's so hard to find this information. The internet can be both wonderful and horrifying.
 
highspeeds said:
Exactly. They are a broker. This is the first time they have purchased a fleet. How long until they pare it down and sub it out ? Swift driver runs for 28 cents a mile. What do we get paid ? I mean what DID we get paid ?
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Nothing has happened. Yet. And if it does, we move on and adapt.
 
highspeeds said:
Exactly. They are a broker. This is the first time they have purchased a fleet. How long until they pare it down and sub it out ? Swift driver runs for 28 cents a mile. What do we get paid ? I mean what DID we get paid ?
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I am truly amazed by the amount of knowledge everyone has about XPO? Until yesterday I never even heard of them. Really why are you people who know so much wasting your time driving a truck???????????
 
As an outsider (yrc) the statement they made about squeezing another 200 million in profits out of conway seems very unrealistic. Either conway is run terrible or xpo has reinvented the wheel and I don't think either of those are true. To generate that much more they would have to turn the place upside down. Another thing I would be concerned about is the amount of debt xpo is taking on and especially if servicing the debt relies on operational improvements like they're talking about for conway. That seems like a steep mountain to climb to me.
 
Conway Lifer said:
"The deal is expected to close next month, and Con-way will then be merged with another XPO subsidiary." Now I can see all kinds of problems right out the gate. Who is this other, "Subsidiary"?
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another subsidiary could be yrcw ??? now hows that for rumor of the day ???
 
I worked for Conway, total 9yrs. just left last Oct, managed a shop. In wondering how the fleet maintenance side will be handled? many mechs that I worked with are worried aabout outsourcing or completely shutting shops down which would be a terrible move. I also worked in Ann Arbor daily communicated and witnessed how LH & Safety operates. its sad, there are so many great people in the company that it appears will get hosed. I'm having trouble visualizing this becoming what they claim it will. I'm so glad I went back to turning wrenches, no more of this management corporate crap. every day, lock up my box and go home....
 
highheadblues said:
As an outsider (yrc) the statement they made about squeezing another 200 million in profits out of conway seems very unrealistic. Either conway is run terrible or xpo has reinvented the wheel and I don't think either of those are true. To generate that much more they would have to turn the place upside down. Another thing I would be concerned about is the amount of debt xpo is taking on and especially if servicing the debt relies on operational improvements like they're talking about for conway. That seems like a steep mountain to climb to me.
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Since they've put in the LEAN they've spent a lot of money on crap that wasn't needed. Next linehaul was being run by people that had no clue. Too many mtys, bad judgment calls by people that didn't know what was going on. Those 2 add up. Then I saw it mentioned somewhere that part of the debt was lawsuits against Con-Way. The board meeting with investors was posted a few weeks back and it shows that Stotlar admitted that the LEAN wasn't saving money nor bringing in profits. Doesn't take long to get into that much debt when you play with big numbers.
 
TiredDvrsWife said:
Since they've put in the LEAN they've spent a lot of money on crap that wasn't needed. Next linehaul was being run by people that had no clue. Too many mtys, bad judgment calls by people that didn't know what was going on. Those 2 add up. Then I saw it mentioned somewhere that part of the debt was lawsuits against Con-Way. The board meeting with investors was posted a few weeks back and it shows that Stotlar admitted that the LEAN wasn't saving money nor bringing in profits. Doesn't take long to get into that much debt when you play with big numbers.
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Every carrier could be run better, but what they're talking about is a really big difference , especially for a company that didn't own a truck until this year. Maybe they will reinvent the Ltl trucking industry, but I remain very skeptical.
 
After reading the links on XPO and given CF/Conway's history this buyout doesn't look like good news. Granted most ltl companies are or will be hiring however if this XPO outfit does something big such as a tractor lease program, there's gonna be a mad rush to these other companies and they sure won't be able to take as many as will want to change employers. Just saying.
 
thomas mullaney said:
I worked for Conway, total 9yrs. just left last Oct, managed a shop. In wondering how the fleet maintenance side will be handled? many mechs that I worked with are worried aabout outsourcing or completely shutting shops down which would be a terrible move. I also worked in Ann Arbor daily communicated and witnessed how LH & Safety operates. its sad, there are so many great people in the company that it appears will get hosed. I'm having trouble visualizing this becoming what they claim it will. I'm so glad I went back to turning wrenches, no more of this management corporate crap. every day, lock up my box and go home....
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How come you ride a girls bike?
 
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