I don't want to rain on anyones parade here but I think it's time you guys at cnw wake up and smell the yellow.While many of you want to feel good about a Otr of 97.8 the reality is on 5/20 cnw raised 143 million on their stock offering.This money wasn't just tucked in their side pocket to buy a few hand helds,it was considered revenue.Do the math girls,pay cut,401k match gone,sale of stock(assets),big time loses for q2 without stock sale,writing on the wall.lol
XPO | 2nd Quarter Results
- Thread starter Groceryhauler
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The May stock offering brought in net proceeds of approximately $143.7 million. If you look at the statement of 2Q results , there is no indication that that money went toward Con-Way revenue for the quarter. I am not saying that this money didn't go into the quarterly bottom line , but that it doesn't appear to have. From May press release for stock offering "The Company intends to use the net proceeds from the offering for general corporate purposes including, but not limited to, working capital requirements and capital expenditures."
imported_ldgarrit
TB Lurker
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It's easy to blame management for all things wrong with the company, especially when it comes to pay and 401k issues, but it's not all their fault. I'm still seeing busted up freight on the inbound and I still see guys handling freight improperly on the dock. I'm still seeing e-track trailers not being utilized properly and terminals in my region with below 50% reweigh numbers.
Does management make mistakes? Of course. Do drivers make mistakes? Of course. We cannot control management's behavior, but we can control ours and most of know how to do the right thing. Reducing claims would go a long way to improving O/R
Does management make mistakes? Of course. Do drivers make mistakes? Of course. We cannot control management's behavior, but we can control ours and most of know how to do the right thing. Reducing claims would go a long way to improving O/R
Every night I see Line-Haul screwing things up so bad it is ridiculous. A couple of weeks ago I was one of three drivers sent over 100 miles out of the way on a Via to pick up a trailer that didn't even exist . We all three got there at the same time . Every night I see other drivers do things just as stupid . They are determined to have the great MODEL at Line-Haul run things. They want anyone to be able to click a few times on the computer , not knowing anything about the business and run things and make money . BUT they keep forgetting something. The MODEL ( A program in a computer) doesn't have any common sense. After the :
: hits the fan during the night because the stupid MODEL the FAC's have to figure out how to clean the :: up. It's all part of the we know all about everything because we have a degree ( Not because they have experience ) bunch of Frat Boys at the Palace. They are just like the bunch in D.C. In D.C. all they want to do is TAX and Spend. Spend on their own pet projects that doesn't help the Country. At the Palace they cut and spend. They cut our pension , pay , and 401k and spend the money on things that don't help the company.
The toy car for example. Sponsors that get their money's worth from NASCAR are companies that has a product that the general public buys , such as Pepsi ,Coke , Bud , DuPont, UPS and so on. Joe blow driving down the road that is a NASCAR fan buys things that supports NASCAR. Our Product ( Con-Way) is not that type of product. Our product is bought by Corporations . No Corp. that has any sense spends hundred of thousands dollars on a trucking company just because they support NASCAR. If they do they won't be around very long.
My hat is off to the driver from XID that won the TDC. BUT I wonder how much money was sank into the TDC. The customers couldn't care less about it. What they would care about is if Con-Way would send out information about trying to cut expenses while the economy is unstable in order to keep rates down. One way they were doing that is to withdraw from the TDC during these bad economic times. Like I said , my hat is off the the driver from XID he worked hard for it and deserves it but facts are facts. The TDC is just another of the Palaces pet projects that they can all go to and have a good time at the drivers expense. Their Ego's are more important than the Company. Until this mind set is changed , things will not improve on a steady basis. Just a jump from time to time due to playing with the figures. Like it has been said on here many times before. Figures don't lie but liars do figure
Like I said earlier. Congrats to the XID Driver. He deserved to get rewarded for all of his hard work.
: hits the fan during the night because the stupid MODEL the FAC's have to figure out how to clean the :: up. It's all part of the we know all about everything because we have a degree ( Not because they have experience ) bunch of Frat Boys at the Palace. They are just like the bunch in D.C. In D.C. all they want to do is TAX and Spend. Spend on their own pet projects that doesn't help the Country. At the Palace they cut and spend. They cut our pension , pay , and 401k and spend the money on things that don't help the company. The toy car for example. Sponsors that get their money's worth from NASCAR are companies that has a product that the general public buys , such as Pepsi ,Coke , Bud , DuPont, UPS and so on. Joe blow driving down the road that is a NASCAR fan buys things that supports NASCAR. Our Product ( Con-Way) is not that type of product. Our product is bought by Corporations . No Corp. that has any sense spends hundred of thousands dollars on a trucking company just because they support NASCAR. If they do they won't be around very long.
My hat is off to the driver from XID that won the TDC. BUT I wonder how much money was sank into the TDC. The customers couldn't care less about it. What they would care about is if Con-Way would send out information about trying to cut expenses while the economy is unstable in order to keep rates down. One way they were doing that is to withdraw from the TDC during these bad economic times. Like I said , my hat is off the the driver from XID he worked hard for it and deserves it but facts are facts. The TDC is just another of the Palaces pet projects that they can all go to and have a good time at the drivers expense. Their Ego's are more important than the Company. Until this mind set is changed , things will not improve on a steady basis. Just a jump from time to time due to playing with the figures. Like it has been said on here many times before. Figures don't lie but liars do figure
Like I said earlier. Congrats to the XID Driver. He deserved to get rewarded for all of his hard work.