XPO | Little Stuff...

[Trucker 206]

Great move driver !

Thank you. Timing is EVERYTHING in life.

 

[icuicp]

Have any of you been to a truckstop during virus times lately?

I hardly ever pull into truckstops ( but I've tried a few times recently because they were the closest place with restrooms )

In the middle of the day ( 3pm - 5pm ) they are bumper to bumper , jam packed. No spaces.

Is it like this everywhere?

 

[WiggleWagondrvr]

When I retired I had the frozen Con-Way pension, social security, and my 401K, which I rolled over to an IRA. Most importantly, I was (and am) debt free. Now, even with the economy in the dumpster, I'm livin' the dream.

Driver i agree with your words completely. Being debt free ( past 14 years for me ) is the best feeling in the world, well next to sex. Now my money earned is mine and works to make me more money by way of investments. Folks the smartest move you can make financially is to become debt free. Live within your means, pay off all debt and enjoy your life.

 

[highspeeds]

Have any of you been to a truckstop during virus times lately?

I hardly ever pull into truckstops ( but I've tried a few times recently because they were the closest place with restrooms )

In the middle of the day ( 3pm - 5pm ) they are bumper to bumper , jam packed. No spaces.

Is it like this everywhere?

No. I have been stopping at a convenient one near my route and even delivered it a couple times. No issues. Actually. Much slower than usual. No trouble getting a spot at all. Usually the same time of day as you.

 

[Fly-by-night]

Western Conference Plan which clearly ISN’T failing. At a 92% funding level, the Plan is clearly in the ‘Green Zone’ so your argument is invalid.”

To point out the fund is not completely funded. It is under funded by 8%. You can say being in the green zone is OK but if I was in this I would want to know why it isn't 100% funded.
So since the it is not 100% funded it is failing so what XPO is saying is true.

 

[Fly-by-night]

Have any of you been to a truckstop during virus times lately?

I hardly ever pull into truckstops ( but I've tried a few times recently because they were the closest place with restrooms )

In the middle of the day ( 3pm - 5pm ) they are bumper to bumper , jam packed. No spaces.

Is it like this everywhere?

Talked to a city driver the other day and ask how was it out there. He said it was OK except for the whole bathroom thing. Places have closed there driver restrooms so now driver are ting in there parking lot. Watch were you step.

 

[Fly-by-night]

Driver i agree with your words completely. Being debt free ( past 14 years for me ) is the best feeling in the world, well next to sex. Now my money earned is mine and works to make me more money by way of investments. Folks the smartest move you can make financially is to become debt free. Live within your means, pay off all debt and enjoy your life.

100% agree. Pay cash, the only loan is a 15yr mortgage with a payment no more then 25% of your household take home pay and pay that off as fast as you can.
I posted about Dave Ramsey and some had said he just pushes book. Well the small amount I spent on his book have saved me thousands.

 

[Trucker 206]

To point out the fund is not completely funded. It is under funded by 8%. You can say being in the green zone is OK but if I was in this I would want to know why it isn't 100% funded.
So since the it is not 100% funded it is failing so what XPO is saying is true.

If you had a 92% chance of winning a bet, would you take it?

 

[Trucker 206]

100% agree. Pay cash, the only loan is a 15yr mortgage with a payment no more then 25% of your household take home pay and pay that off as fast as you can.
I posted about Dave Ramsey and some had said he just pushes book. Well the small amount I spent on his book have saved me thousands.

Dave is one smart cookie! His column appears in our local newspaper.

 

[Fly-by-night]

If you had a 92% chance if winning a bet, would you take it?

A bet and a pension fund are two different thing. Sure a 92% chance of winning a bet sure I take it, but some out there wouldn't. Yes the western pension is in way better shape then most but the fact is it is still under funded. I see that the fund made filed 3 time for benefit cut and was approved after the 3rd filling. Now would you still take that bet know that what you were promised to win when you placed the bet would be cut by 30% when it was paid out

 

[Fly-by-night]

Dave is one smart cookie! His column appears in our local newspaper.

I heard some high schools were teaching his system.

 

[Trucker 206]

I heard some high schools were teaching his system.

As they should. We were required to take a ‘Personal Finance’ class our senior year in high school. This was the late 70’s and the teacher we had was a frickin’ genius! Some of the stuff he taught us way back then about finances still hold true today.

 

[Trucker 206]

A bet and a pension fund are two different thing. Sure a 92% chance of winning a bet sure I take it, but some out there wouldn't. Yes the western pension is in way better shape then most but the fact is it is still under funded. I see that the fund made filed 3 time for benefit cut and was approved after the 3rd filling. Now would you still take that bet know that what you were promised to win when you placed the bet would be cut by 30% when it was paid out

Not sure what cut you’re referring to. My monthly benefit went up...a small amount, but still up.

 

[Fly-by-night]

As they should. We were required to take a ‘Personal Finance’ class our senior year in high school. This was the late 70’s and the teacher we had was a frickin’ genius! Some of the stuff he taught us way back then about finances still hold true today.

They called it Consumer Math in the long hair head banging 80's. Best math class I ever took we even did a mock tax form 1040.

 

[Fly-by-night]

Not sure what cut you’re referring to. My monthly benefit went up...a small amount, but still up.

This is were I got the info forgot to post the article
https://www.pionline.com/article/20...-multiemployer-pension-benefit-cuts-finalized

 

[Trucker 206]

This is were I got the info forgot to post the article
https://www.pionline.com/article/20...-multiemployer-pension-benefit-cuts-finalized

I didn’t see anything in that article about it being a Teamsters Pension Plan. Must be a different union. I know of no cuts whatsoever to the Western Conference Plan.

 

[icedriver]

100% agree. Pay cash, the only loan is a 15yr mortgage with a payment no more then 25% of your household take home pay and pay that off as fast as you can.
I posted about Dave Ramsey and some had said he just pushes book. Well the small amount I spent on his book have saved me thousands.

Yeah, living that way makes life a lot less stressful!! And you just look around at other guys and shake your head.

 

[joes bar and grill]

Dave is one smart cookie! His column appears in our local newspaper.

He's so smart he's got broke people paying him to tell them they are broke.

 

[icuicp]

XPO’s Brad Jacobs Says Company Might Look at Additional Acquisitions

With at least $2 billion in cash, and $500 million in credit available, XPO Logistics Chairman and CEO Brad Jacobs says he would consider an acquisition if the company was a good fit.

“I don’t rule out doing [mergers and acquisitions]. We’re good at M&A. We’ve got great success at buying 17 of the best companies that were in the industry and then highly integrating them and getting great synergies and putting them on common platforms and systems, and it’s worked very well,” Jacobs said. “We’ve created a lot of value for our shareholders.

“I don’t rule it out, but I’ve never bought a company over Zoom, though that could be a new experience: doing M&A by a videoconference.”

Jacobs declined to identify any company he’s interested in acquiring. However, he does believe the worst of the coronavirus pandemic must pass before he’d make a purchase

From - Transport Topics

 

[icuicp]

Speculation on YRC’s survival ramps up

On its earnings call with analysts, YRC management said that they wouldn’t be fielding questions from analysts due to a “tremendous amount of uncertainty surrounding COVID-19 and the rapidly changing environment.”

[YRC] remains in perpetual turnaround mode, the latest referred to as a “multi-year enterprise transformation strategy,” that includes asset utilization initiatives, migrating all of its separate operating units onto the same technology platform, reporting all five brands on a consolidated basis, favorable work rules following the 2019 labor contract implementation, shuttering terminals, closing New Penn’s headquarters, debt restructuring, headcount reductions, a hiring freeze and suspension of short-term incentives.

Stifel Financial (NYSE: SF) equity research analyst David Ross sees the second quarter as “make or break” for the carrier and questions the company’s survival.

“At this point, we believe it’s dependent on two things: a) U.S. government assistance in the form of a grant to cover payroll, health care, and/or other expenses, and b) how quickly volume returns as the economy reopens this month. If we don’t get any good news in the next 30 days, we would not be surprised to see a wind down of operations on or before July 4th weekend.”

From - Freightwaves