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Central Transport | Running on Empty

now if there's a job that i can make a lateral move, i'll seriously consider it. whether vitran is doing good or bad.
 
had enough said:
if they make a profit, i will stay. unless they take concessions or my hours get cut considerably.
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Perfect my Brother....All I wanted to know. These are the kind of things I need to hear from my co-workers....Because it helps me with my decision on whether to stay or go...It helps me gain a better perspective on this company from people I respect.
 
had enough said:
now if there's a job that i can make a lateral move, i'll seriously consider it. whether vitran is doing good or bad.
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There would be no lateral move if your at top pay most likely. I'm looking at the start of the 2nd quarter and will be prepared to jump if the numbers come in bad. I won't get caught with my pants down when fall comes around and things once again start to slow down. My azz is getting sore and I'm getting a little loose. Gotta jump even with a pay cut like $$.....Before I start losing respect for myself and no one else wants me...Kinda like a woman...LOL
 
Q4 will be out in about 3 weeks, then we will all know where we sit. I think another losing quarter will cause a lot to think about jumping ship. I know 2 others that have been dragging their feet since Thanksgiving, hopefully when their Q4 comes in they will get the word to hire some more drivers.
 
Not_wanted said:
Q4 will be out in about 3 weeks, then we will all know where we sit. I think another losing quarter will cause a lot to think about jumping ship. I know 2 others that have been dragging their feet since Thanksgiving, hopefully when their Q4 comes in they will get the word to hire some more drivers.
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@runawaytrain,

4Q results will most likely not report for about 5 weeks from today. Corporate may delay it a bit due to the fact that we will report massive losses, very likely the worst in the history of the company. Word is the 4th Q loss will be anywhere from 15 million to 17.5 million. Heard this from a linehaul driver out of IND who heard it from someone else of course.
 
Popswasnatlman said:
@runawaytrain,

4Q results will most likely not report for about 5 weeks from today. Corporate may delay it a bit due to the fact that we will report massive losses, very likely the worst in the history of the company. Word is the 4th Q loss will be anywhere from 15 million to 17.5 million. Heard this from a linehaul driver out of IND who heard it from someone else of course.
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Call me stupid but I dont see how you can gage anything off the 4th Q of 2012.....The Share Holders know it will be a massive loss...They are prepared for that. All of our hopes are in 2013...Mainly the 2nd Quarter...If we cant pull it together during the heavy season then our fate is sealed...Thats just my opinion...2012 means nothing. Remember what Chris said .....Tangible Evidence in the 2nd half....The entire future of this company will be revealed in the 2nd Quarter of 2013. 2012 is dead and gone and a total failure.
 
I think where we are is on a runaway train going backwards that Chris has applied the brakes on but you still don't stop it n a dime, it will take a little more time to get it under control before we can go forward, maybe if prior management hadn't run us into the ground and kept us 15 years behind other ltl companies in technology then the train wouldn't take so long to get back under control.
 
runawaytrain said:
Call me stupid but I dont see how you can gage anything off the 4th Q of 2012.....The Share Holders know it will be a massive loss...They are prepared for that. All of our hopes are in 2013...Mainly the 2nd Quarter...If we cant pull it together during the heavy season then our fate is sealed...Thats just my opinion...2012 means nothing. Remember what Chris said .....Tangible Evidence in the 2nd half....The entire future of this company will be revealed in the 2nd Quarter of 2013. 2012 is dead and gone and a total failure.
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Why do you make the assumption the "Share Holder know it will be a massive loss...They are prepared for that. All of our hope are in 2013...Mainly the 2nd Quarter..."

Suggest you read and re-read your post above. Read it a fourth and fifth time if necessary. Vitran has lost over 70 million dollars in the past 5 years appx , our revenues are around 750 million a year. Take a deep breath and breath in some H20 my friend. Seriously, Vitran just borrowed 33 million after borrowing around 45 million a year ago. They had to "pawn" assets to get money. They are losing 5 million a month with no turnaround in sight. They will blow through this money like a V10 Ford Excursion running full bore through the Baja 1000 on a 100 gallon gas tank. Vitran was just included in a top five worst companies to invest in today, go to Google and type it in. Gotta go to bed so I can get up and run the city southbound.
 
Popswasnatlman said:
Why do you make the assumption the "Share Holder know it will be a massive loss...They are prepared for that. All of our hope are in 2013...Mainly the 2nd Quarter..."

Suggest you read and re-read your post above. Read it a fourth and fifth time if necessary. Vitran has lost over 70 million dollars in the past 5 years appx , our revenues are around 750 million a year. Take a deep breath and breath in some H20 my friend. Seriously, Vitran just borrowed 33 million after borrowing around 45 million a year ago. They had to "pawn" assets to get money. They are losing 5 million a month with no turnaround in sight. They will blow through this money like a V10 Ford Excursion running full bore through the Baja 1000 on a 100 gallon gas tank. Vitran was just included in a top five worst companies to invest in today, go to Google and type it in. Gotta go to bed so I can get up and run the city southbound.
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I know how much money they have lost...I know things dont look good.. Perhaps I'm a bit of a dreamer..Perhaps a little like Chris Keylon. Perhaps there is no hope at all that we could start digging ourselves out of this hole. And maybe we are doomed for certain failure, I just dont understand why the shareholders dont just shut us down now and cut their losses. Its not our money, its their money they are throwing away, their investments...I just dont understand it....But is hope such a bad thing? Is trying to be positive such a bad thing? I dont question your knowledge. I just hope your wrong. I'm just hoping there is something between the numbers that has not been disclosed to the general pubic. I don't know the future..And the future you are predicting could come to pass. But I will cross that bridge when the time the comes. But I wont lose hope. I will keep my options open, but hope for the best. Just call me a dreamer....Brother you can even call me a fool. In a way you already have...But thats OK...I've been called much worse.
 
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maybe they're trying to pay off their canadian loan with this recent u.s. loan and walk away from the u.s., while keeping their canadian operation intact. most of their u.s. property and equipment are leased with several properties that were purchased by the pjax division. the purchased properties were probably what they put up for collateral for the recent loan. now they really have no stakes in the u.s. at all, seeing they basically 'handed over' their only assets in the u.s. to the lender for money. what i just said is the only possible way that i see them being able to survive.
 
Perhaps that is their agenda..And CK is just holding down the Fort until they file bankruptcy...I guess only time will tell. I can't see them paying back all that money.They probley would need to re-organize.
 
If 4Q losses are as big as more than one has hinted to, then Bankruptcy may be the smart choice. There is something going on behind the scenes for sure with these loans, I still cannot figure who would give them that much credit as Vitran is not very a very fiscally solid company, but it is their money, not mine.
 
Not_wanted said:
If 4Q losses are as big as more than one has hinted to, then Bankruptcy may be the smart choice. There is something going on behind the scenes for sure with these loans, I still cannot figure who would give them that much credit as Vitran is not very a very fiscally solid company, but it is their money, not mine.
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That is the very thing that confuses me...They are not fiscally solid....Its a bad risk for an investment banker...Why would they lend them money in this economy. These guys have business degrees and they are not stupid. Vitrans assets wont cover their loss if they fold...It makes no sense at all. They could file bankruptcy on them and cost them big time. These bankers do this for a living and they know this...Something has to be going on that we can't see. No investment banker in his right mind would loan a company this kind of money knowing they are on the brink of bankruptcy.
 
the property they put up must be able to cover the loan, in the event of non payment. i don't think it would've been approved if not.
 
But try and sell commercial property right now, and in a big way something as special as a cross dock terminal. A factory or warehouse can be divided up into smaller units, but a cross dock you are pretty much locked in.
 
maybe they are doing the same thing Alan Maloway did over at ford when he mortgaged the company to the hilt to stay out of bankruptcy.
 
fudgie said:
maybe they are doing the same thing Alan Maloway did over at ford when he mortgaged the company to the hilt to stay out of bankruptcy.
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If bankruptcy is in our future I wonder which way they would go....Chapter 7 or Chapter 13......Chapter 13 would mean reorganization and the retention of our jobs to my understanding....Chapter 7 would mean liquidation and the loss of our jobs to my understanding. Whatever happens....Do you guys think we will make it through all of 2013?
 
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