Rick Gaetz resigned this morning, replaced by Bill Deluce, current board member

Discussion in 'Central Transport/Vitran' started by Popswasnatlman, Apr 4, 2013.

  1. Popswasnatlman

    Popswasnatlman Member

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    Morning boys, $HIT be happening big time this morning. Looks like the appointment of CK by RG got the best of him. No doubt that Canada has the 1st Q loss numbers figured out and RG got taken out because what has happened not only over the past 6 years but mostly what has happened over the past 1.25 years since CK go appointed Pres of US Operations. My guess is CK better be looking over his shoulders on a daily basis.
     
  2. Dock Man

    Dock Man Logistical Engineer

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    Last edited by a moderator: Apr 4, 2013
  3. realtree

    realtree Member

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    Contact:
    Richard Gaetz, President/CEO
    Vitran Corporation Inc.
    416/596-7664
    hahahahahah
     
  4. Dumb move

    Dumb move Member

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  5. com-on

    com-on Member

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    This looks like a good time for Conway vp to slide into that seat bill deluce is just an interm
     
  6. Popswasnatlman

    Popswasnatlman Member

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    Agree 100% Com-On. Dave McClimon just added to BOD on the 28th of March. This was a done deal back then and though Dave is very talented and has tons of market experience, it is probably too little too late to save U.S. Operations from a shutdown at some point. 1st Q loss numbers tossed around are 17.3 million. How long does Canada put up with these losses.
     
  7. PITRAN HONKEY LIPS

    PITRAN HONKEY LIPS Member

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    beginning of the end. Vitran will close doors by the end of 2013.
    thank god I left in September.

    JUMP SHIP NOW WHILE OTHER LTL CARRIERS ARE HIRNG IN THE SPRING
     
  8. Angry_trucker

    Angry_trucker New Member

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    Conway and waste management had ads for drivers here on the west coast. I really wanted to apply but I'm waiting to see what happens.
     
  9. 12barjunkie

    12barjunkie Member

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    I was about 80% committed to finding a different job; now it's 100%.
     
  10. luci

    luci Member

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    If you bend a piece of metal back and forth long enough it breaks. CK has made such extensive, fundamental, and expensive changes to Vitran I see no option but to run with them.

    What I mean is Vitran can replace RG and CK but how far down the chain of command can they go before the back and forth motion breaks something?

    The mass exodus of employable employees will only accelerate with this news and the fact that it is spring.

    I am not sure a complete shut down is coming, but I know the terminals loosing money have been identified. Perhaps those will get shuttered or like the investor from Canada asserted late last year "sell off all US operation".

    My guess is at this point the accountants will provide the information to the board that will decided the most profitable way to move forward. Just my two pennies.
     
  11. luci

    luci Member

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    It is poetic that with the announcement of the resignation the date and time of the next financial report was announced.
     
  12. had enough

    had enough pErSoN oF iNtErEsT

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    resigned is a nice term, he was given the option of resigning or be fired. he will prob dump his stock and flood the market, causing the prices to drop even farther.
     
  13. had enough

    had enough pErSoN oF iNtErEsT

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  14. Buckeyedriver7

    Buckeyedriver7 Member

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    The company is going to reveal their 1st quarter results on 4/25. Be prepared to come to work and find a padlock on the gates soon.
     
  15. truckertim

    truckertim New Member

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    Call me naive, but I still don't think its time to throw in the towel yet. Maybe Gaetz was just out of ideas and the board wanted to get someone in with a fresh perspective? Everyone knows we lost money in the 1st quarter and probably alot of it. IF we don't see it get busier, starting this month, then I will probably start to look for another job.
     
  16. Popswasnatlman

    Popswasnatlman Member

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    Ok T.D. , we know you are a plant trying to softball everything, your bubbas in LH don't buy it nor do I. Get ready to pack your bags along with your 30 other cronies that CK brought over. Thanks for tanking the Vitanic. Time to pm my crap before I head south, good day.
     
  17. runawaytrain

    runawaytrain Wear their scorn with pride.

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    The million dollar question is was he forced out or did he just say Fu** it this place can't be saved I quit??? In the end it really doesn't matter.....I just wonder if he was forced out....I don't think we will ever truly know.
     
  18. truckertim

    truckertim New Member

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    Ha funny. I wish that were the case cause i would be making a hell of alot more money than Ii am now
     
  19. luci

    luci Member

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    Transforce sold about a third of its stocks a couple weeks ago.not sure if this has been on the forum yet.
     
  20. luci

    luci Member

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    I understand the sentiment, and if this were happening years earlier I would think you are on to something.

    However, given all the drastic measures we have seen taken, money spent, and precious time gone during the keylon years I think this is a very bad sign. When Gaetz pushed for keylon and that whole deal I believe he bet his job on it. Gaetz cannot be seperated from his involvement with keylon.
     

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