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Central Transport | Save yourself and jump ship b4 it alll sinks

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$outh$side $tre$$

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Well boys the 2nd quarter results are in, and the excuses look like the same excuses we have been hearing the last 14 quarrters. Same crap differnt words. We lost more money in the u.s. Ltl then we did last year in the 2nd quarter. Go to vitranexpress.com and hit the investor relations link. Just try and read the excuses our "new" boss has to say. Make sure there is nothing around you, cuz i wouldnt want you to break anything, cuz with the paychecks we get from this outfit, the thing you will break after reading the excuse probley isnt paid for. I am just waiting for that number to come up on my phone without a name, cuz i am telling you boys i am outty 5000!
 
$outh$side $tre$$ said:
Well boys the 2nd quarter results are in, and the excuses look like the same excuses we have been hearing the last 14 quarrters. Same crap differnt words. We lost more money in the u.s. Ltl then we did last year in the 2nd quarter. Go to vitranexpress.com and hit the investor relations link. Just try and read the excuses our "new" boss has to say. Make sure there is nothing around you, cuz i wouldnt want you to break anything, cuz with the paychecks we get from this outfit, the thing you will break after reading the excuse probley isnt paid for. I am just waiting for that number to come up on my phone without a name, cuz i am telling you boys i am outty 5000!
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I don't know when they are going under, but it is just a matter of time.
Ten million dollar loss so far this year ( all the workers fault, you know)....
I think JP Morgan, who lent Vitran so much, will be demanding to be paid. I am watching for them to sell assets off ( owned equipment, etc), and for bills to pile up (Imagine breaking down and no one comes to repair/tow you because they owe all the vendors in that area!!!)I expect a few execs to quietly jump ship in the middle of the night so they can sell their stock options off while it's worth anything.
Once our fine customers get wind of this, they will disappear. Who wants to ship with us, taking the chance that we might close, and their freight is sitting somewhere. Or they make an Osd claim, and we fold before it's paid.
Third quarter will be bad. The new L/ H plan is not smooth at all. Freight is getting back way too late to be delivered. There are many more drivers now moving the same amount of freight as before, hotel layovers have increased, not stopped as planned. Plus the drivers working docks at double the dock work rate? It's gotta be costing way more $$ to move the same freight, only getting there later...
The other Ltl carriers are circling like hungry wolves, picking off our better customers, and employees.
Chris K.: good luck buddy...I don't think you were aware of how deep the trouble was...
 
hey scotty i couldnt have said it any better then that. we are in for a world of hurt. and if any one that is an hourly employee thinks that in september we willl be getting any type of increase in pay. well, u should just go to the clinic now and pee in a cup, cuz ur smokin some good sh%&. we will be stuck at the same pay till you quit and work somewhere else. the future of this company is very bleek. so to all my fellow pissed off underpaid overworked vitran employees, start filling out applications to other outfits, cuz like me, i am not going to sink with this rusted, red-tagged, circle jerking ship. peace be with you and god bless!!!!!!!!
 
Not trying to be devil's advocate, BUT, linehaul restructure is probably our biggest money saver, but is not included in this report. Is it enough to turn us positive in numbers? No, but it WILL improve next quarter. For 2 years i could never understand drivers laying over, we would send one over there, and they would send one over here, so, now 2 drivers in motels... BS, now they meet in middle and switch trailers, each driver home every morning..... what part of this took a rocket science degree to understand?
 
The new L/ H plan is not smooth at all. Freight is getting back way too late to be delivered. (Quote)

I disagree, now most are back before 6am at my place, and the final 2 usually still before 8, a much better improvement over half being after 830
 
Not_wanted said:
The new L/ H plan is not smooth at all. Freight is getting back way too late to be delivered. (Quote)

I disagree, now most are back before 6am at my place, and the final 2 usually still before 8, a much better improvement over half being after 830
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That's how it's supposed to work, but from what I see and hear, your barn is the exception.
By no means am I pissing on the changes Chris is doing. Should have done it five years ago- that's all. Could be too late. given enough time, it probably would work. But what I am saying is, do we have the time?
The thing about losing ten million is that it has to come from somewhere. Out of the bank, debt,etc. Current trend does not make me think they have trap trailers filled with cash somewhere. I am not being a d#%^k, it's just business economics 101....
 
Scotty425 said:
That's how it's supposed to work, but from what I see and hear, your barn is the exception.
By no means am I pissing on the changes Chris is doing. Should have done it five years ago- that's all. Could be too late. given enough time, it probably would work. But what I am saying is, do we have the time?
The thing about losing ten million is that it has to come from somewhere. Out of the bank, debt,etc. Current trend does not make me think they have trap trailers filled with cash somewhere. I am not being a d#%^k, it's just business economics 101....
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I am going to go through the numbers this weekend, even though we have a reported bigger loss, I want to know why. Real quick I see a BIG reduction in overall debt (that adds to a money loss, but is a good bill to pay off)
 
From what I have seen of the restructuring, there have been improvements in time performance for the majority. But will it be a case of too little, too late? What happens when the corporate honchos go back to where-ever it is they go now a days?

There are still areas in which we seem to not have learned anything.
 
Well, I think we had good start, but it needs to go further, much further. Managers need to take care of their terminals, sales needs to earn their keep (I have not hauled for ONE new customer this year unless through 3PL) Dock workers need an incentive after hours being cut, and us with less than 5 years need our base wage brought up closer to our competitors, these two areas are suffering from the worst morale I have seen yet. Good dock guys seem to have to do half the work of someone who can't/won't, same with drivers, someone who doesn't get in gear is told to run around and do drop and hooks due to not getting their buts in gear, WRONG! Come on Management, watch them pads you bought us, who does what/where/when! Maybe it is finally time to break this company wide same pay scale? Instead of manager saying who gets a raise :butt kiss: let the numbers show
 
they arent losing money, you have to look at the us and canada sides as seperate.they are using different exchange rates and tax charge offs and makes them look like a loss. its better for for the corp canada to have one side showing a loss.remember they are still paying off debt from buying other trucking companies. if it was as bad as it seems, how are they getting money or loans to open up other supply chain warehouses and buy this equipment,and pay for these tablets?its just smoke and excuses of why you will not see a raise anytime soon. also look at the new cross shipping of freight from north to south since they stared cross selling milans territory.look at how many TEAM MEMBERS have been turn into part time and others that have quit. at my terminal,more drivers are leaving each week tired of the same pay and more work.do fed ex line haul drivers work the dock when they get to a terminal even when their freight is ready to go? we hired a new line haul driver 2 weeks ago and he has broken down 6 times in 6 different trucks. he gave quit yesterday. we cant even get drivers in the door to put in applications anymore do to the reputation vitran has. how about your terminal?
 
vijax said:
they arent losing money, you have to look at the us and canada sides as seperate.they are using different exchange rates and tax charge offs and makes them look like a loss. its better for for the corp canada to have one side showing a loss.remember they are still paying off debt from buying other trucking companies. if it was as bad as it seems, how are they getting money or loans to open up other supply chain warehouses and buy this equipment,and pay for these tablets?its just smoke and excuses of why you will not see a raise anytime soon. also look at the new cross shipping of freight from north to south since they stared cross selling milans territory.look at how many TEAM MEMBERS have been turn into part time and others that have quit. at my terminal,more drivers are leaving each week tired of the same pay and more work.do fed ex line haul drivers work the dock when they get to a terminal even when their freight is ready to go? we hired a new line haul driver 2 weeks ago and he has broken down 6 times in 6 different trucks. he gave quit yesterday. we cant even get drivers in the door to put in applications anymore do to the reputation vitran has. how about your terminal?
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"Adjusting for the impact of foreign exchange on Vitran's Canadian operations, consolidated revenue increased 3.3% in the comparable second quarters. Vitran recorded a net loss of $4.2 million, or $0.25 per share, for the second quarter of 2012 compared to a net loss of $2.3 million, or $0.14 per share, for the same period in 2011. "
Umm, it's adjusted for the exchange rate...
 
I knew two FE linehauls that said they loaded, went to Chicago and unloaded/reloaded themselves and returned home, but did not unload at home, but that was a couple years ago
Tablets? 50 bucks to buy and 30 a month is the retail Verizon price, but I am sure buying 1500 we got a little better deal. And contrary to what people are saying, I believe they were very important in redoing line haul, now when I get in at 6pm outbound linehaul is already planned by volume, weight, and dock number. I hope someday that as I pick up loads, the information is sent to the delivering terminal letting them know it is coming the next day. When forklift drivers get theirs, our planner should know by 3am what is on each trailer and what is not (right now it is close, but he still shows being upset looking for pallets that never got put on our trailer)
 
vitran also stop recordining income tax provision in the u.s. they are paying down debt to show a loss.canadian accounting is very different than what we have in the u.s.
Scotty425 said:
"Adjusting for the impact of foreign exchange on Vitran's Canadian operations, consolidated revenue increased 3.3% in the comparable second quarters. Vitran recorded a net loss of $4.2 million, or $0.25 per share, for the second quarter of 2012 compared to a net loss of $2.3 million, or $0.14 per share, for the same period in 2011. "
Umm, it's adjusted for the exchange rate...
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2500 Canadian equals 2479 American. When someone says this is all "funny" due to exchange rates, inform them of their mistake
 
After going through numbers,,,,,,I think,,,,, it is an improvement, however, I would need to see more paperwork to decide. Yes we "lost" more money, but we also paid off more debt, we opened (according to RG's statements) a couple more facilities that are generating profits (do not know if LTL or SCO) replaced some equipment,,,, all these things take money. CK was brought into a mess and is trying to clean it up, it cannot happen in 3 or even 6 months. Q1 CK took over, Q2 shows improvement in certain areas while implementing drastic changes, so Q3 will be more of a tell for what they are doing to our bottom line, and, hopefully Q4 we should be able to show profit.
 
hey vijax. the new rule pf " if you want to go linehaul to city or city to linehaul, u lose your senority. thats str8 b.s. ive been at the same pay for almost 5 years. running linehaul was not possible the last 2 years due to family issues. but not i want to and i get the big man saying with his foot down NO. but vijax the funny thing is. there are 4 spots on linehaul still open and we are making 5 more new runs. funny thing is I dont see no new faces. cuz no1 wants to work for the " lying V". so i said ok I will help you out and take whatever run u want me to do to help service the freight, but in march I would like to bid with my strap. he told me no again. but you know what he is burying himself more and more everyday. cuz loads come to our terminal and sit for a day or 2. and I am talking freight that is a 2 day lane. I hope he gets the famous walk of shame and they boot his stubborn kulo out!
 
Not_wanted said:
I am going to go through the numbers this weekend, even though we have a reported bigger loss, I want to know why. Real quick I see a BIG reduction in overall debt (that adds to a money loss, but is a good bill to pay off)
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Lol . . Be sure to share with us your insight Mr Krugman. I know you didn't get that nobel prize in economics for nothing.
 
I understand profits and losses, a few in my family are self employed, use depreciation to send your numbers to zero to avoid taxes, debt is not always a bad thing providing you manage it, ect. The report listed is not enough to understand what they are doing, and it was not meant to be. To better understand I would need to see how much they spent on them trucks and trailers, what assets were acquired and sold, increase or decrease in labor/benefits, ect. I am not nearly as smart as them that make out these reports, but I try and read the numbers, not jump to conclusions over a million here and 10 million there, it's just numbers to me.
 
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