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Central Transport | The Final Act

runawaytrain

runawaytrain

Wear their scorn with pride.
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The final act appears to be near so lets prepare for life after the V......Do most of us want to get right back into LTL?
 
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runawaytrain said:
The final act appears to be near so lets prepare for life after the V......Do most of us want to get right back into LTL?
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I left the whole industry for now. Went back to another industry that under Obama is booming. F#$& Vitran. Worked hard, no accidents, nothing. But new hires actually got more until I bitched. Had to share my immaculate nice truck with a day guy that would have minor accidents and lie, trying to cover it up or blame me. But he was invited to the bosses house often, so you know where that went....
 
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I will try to get back into it at a good company like OD. If not I may change careers. I have had several very interesting/co jobs that are dream jobs, but pay very little. This job SHOULD be very well but be boring. Boring is great after worrying about mney. I can handle boring.
 
Thinking about hauling SUV's from the G.M. plant in Arlington Texas. Got a couple more options to think over. But truck driving is in my blood so I will probably stay driving. Don't think I will go back into the LTL business. I will most likely ride this job until it is no more. And like the Phoenix rise above the ashes.
 
Would anyone care to guess when this place will shut the doors? You know, The Final Act. We all have speculated on many other threads but the title of this thread seems to say it all. So lets throw a few dates around and while we are at it lets give our opinion on when things started going wrong. Call me a fool but I still hold out hope that in 2014 the new Vitran will finally arrive. With a fresh approach and a new sales force to lead the way. With many of the problems fixed and the technology in place we could actually have at least a chance. But make no mistake if we can't turn it around in 2014 we are done. I think all along the shareholders knew it would take some time to get things in place, they knew loses would continue to climb all through 2013.....They were prepared for this. But 2014 is a do or die year and they must see results. After all is said and done we will be able to look back and say for certain that Chris Keylon is where it all started to go horribly wrong.
 
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runawaytrain said:
Would anyone care to guess when this place will shut the doors? You know, The Final Act. We all have speculated on many other threads but the title of this thread seems to say it all. So lets throw a few dates around and while we are at it lets give our opinion on when things started going wrong. Call me a fool but I still hold out hope that in 2014 the new Vitran will finally arrive. With a fresh approach and a new sales force to lead the way. With many of the problems fixed and the technology in place we could actually have at least a chance. But make no mistake if we can't turn it around in 2014 we are done. I think all along the shareholders knew it would take some time to get things in place, they knew loses would continue to climb all through 2013.....They were prepared for this. But 2014 is a do or die year and they must see results. After all is said and done we will be able to look back and say for certain that Chris Keylon is where it all started to go horrible wrong.
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Word has it several more long term sales reps will be leaving in the next two weeks. The sales reps we have are bottom of the barrel except for a few decent ones. We now get over 70% or our revenue from 3PL's and national accounts. Local account business keeps dropping. This is not how you grow business. Bill count now in the 11 thousands down from the high 15's two years ago. West coast closed, Texas now an "interline" state with only three terminals. We do what, about 350 outbound bills per day from DAL? Southeastern does 2200 per day, FedEx Freight does 2000 per day, Central Freight does 1500, Conway does 2000, Estes does 1500, R&L 1800 and on and on. In Atlanta Southeastern does 3000 bills per day with 4 terminals, we do what around 125 or so. There are simply too many problems to overcome the biggest are falling bill count/revenue and rates that are 25% below the marketplace. We have been so bad for so long that the only reason shippers use us is because of our low rates. Because of that , we will never make money. Spin off coming very soon, divorce papers being drafted right now up in Toronto.
 
Spin off meaning what? A buyout? Bankruptcy? All of our jobs being lost? Exactly where do you see this company and our jobs this time next year?
 
runawaytrain said:
Spin off meaning what? A buyout? Bankruptcy? All of our jobs being lost? Exactly where do you see this company and our jobs this time next year?
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Canada will divorce itself from the USA operations and set up a new holding company that will own us. It truly is the same thing as a divorce except Canada does not have to share assets equally as one does in a divorce. So Vitran USA will be a stand alone operation and we will no longer have Canada and the remaining 34 million to prop us up. The Canadian employees have been calling for our heads since we had to give back 5% back in april of 09. Bet you all did not know that the Canadian employees only had the 5% taken from them for one year. They also have continued to get raises while here in the US, all salaried folks have had wages frozen since 2006 and the rest of us got a whopping 25 cents.

So what does this mean for Vitran USA after the spin off? It means there will be an immediate need to find money to borrow and that is very problematic. Though we will get spun off debt free, banks and lending institutions are going to be hard pressed to want to give us loans. As leverage we have mostly nasty, ratty, pot holed ridden ( think Columbus OH) run down facilities that we will be lucky to borrow against. Unless there is some white knight coming to our rescue ( like DHL) I think we have less than a year at the current rate of financial loss. We will see next week what the loss is for the 2nd Q, I heard from someone this week with an inside track that the loss is going to be 12 million or $184,615 per working day.
 
Popswasnatlman said:
Canada will divorce itself from the USA operations and set up a new holding company that will own us. It truly is the same thing as a divorce except Canada does not have to share assets equally as one does in a divorce. So Vitran USA will be a stand alone operation and we will no longer have Canada and the remaining 34 million to prop us up. The Canadian employees have been calling for our heads since we had to give back 5% back in april of 09. Bet you all did not know that the Canadian employees only had the 5% taken from them for one year. They also have continued to get raises while here in the US, all salaried folks have had wages frozen since 2006 and the rest of us got a whopping 25 cents.

So what does this mean for Vitran USA after the spin off? It means there will be an immediate need to find money to borrow and that is very problematic. Though we will get spun off debt free, banks and lending institutions are going to be hard pressed to want to give us loans. As leverage we have mostly nasty, ratty, pot holed ridden ( think Columbus OH) run down facilities that we will be lucky to borrow against. Unless there is some white knight coming to our rescue ( like DHL) I think we have less than a year at the current rate of financial loss. We will see next week what the loss is for the 2nd Q, I heard from someone this week with an inside track that the loss is going to be 12 million or $184,615 per working day.
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only the postal service loses more. can't wait for the wage tier adjustment and the look on all the drivers faces that are expecting a raise. lmfao.
 
I'm under no illusion of what may happen....The wage tier adjustment and probably the loss of some vacation time will not surprise me and a two week pay period is most likely going to happen as well. With all the theories going around my main question remains. How long do we have? With a spin off will our jobs be more secure or less secure?
 
runawaytrain said:
Thinking about hauling SUV's from the G.M. plant in Arlington Texas. Got a couple more options to think over. But truck driving is in my blood so I will probably stay driving. Don't think I will go back into the LTL business. I will most likely ride this job until it is no more. And like the Phoenix rise above the ashes.
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Back in the mid 90's I worked carhaul out of Detroit. It is an incredibly physically demanding job. I would suggest you only do it if you can get on with one of the union companies. Only do make the transition in the spring or summer so you have time to learn in good weather. I have seen many guys start in the fall and winter and not make it because of accidents. Good luck train. You're wife will will definitely like it once you get all buffed out :)
 
I'm looking at Jack Cooper and they are union....Got an inside track. I do know how physically demanding it is, having said that I appreciate your advice. I have a lot to think over in the next few months. I will most certainly be ready to make a move in the spring. Thinking about hauling gas here locally too, it's much less demanding and the money is good....Many options here in Texas to stay around 60K.
 
The key dates are tied to the bonus money contract of 6/30/13...90k to stay till 12/31/13....another 180k if he stays till 4/30/14. The contract states he has to keep the shareholder's interest at heart..not drivers. If the company survives it will be much smaller with a pay scale to match.
 
FX4 said:
The key dates are tied to the bonus money contract of 6/30/13...90k to stay till 12/31/13....another 180k if he stays till 4/30/14. The contract states he has to keep the shareholder's interest at heart..not drivers. If the company survives it will be much smaller with a pay scale to match.
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let's not forget everyone on top won't be affected. remember if they take from you, move a little slower and recoup your losses. accidentially miss that pickup time. what comes around goes around.
 
had enough said:
let's not forget everyone on top won't be affected. remember if they take from you, move a little slower and recoup your losses. accidentially miss that pickup time. what comes around goes around.
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The tablet can be your best friend or worst nightmare....You must know how to manipulate it. I will do what is required. But the days of going the extra mile are gone. That last shipment just wasn't ready so my customer let me wait in his dock until it was....My damn brother-in-law is kinda slow pulling orders....I think you see where I'm going with this.....Knowing where you are is just not enough.
 
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