Celadon

Discussion in 'Trucking News' started by mountaingote, May 5, 2017.

  1. mountaingote

    mountaingote Gote With a Tude & a BIG Hammer Staff Member

    Sounds like they may have their tit in a gigantic wringer. Seems there's a big investigation into the filing of false and misleading financial reports, and rumblings of lawsuits about to be filed.....
    Over the past 24 months their stock has fallen from $25/share to $1.65..
    I think it's time to get rid of these crooks
     
  2. flyingmusician

    flyingmusician Official ORD Rocker

    Much discussion about it at the other place.

    I had a chance to take the terminal Mgr job in Greensboro right after I left the airport job. I was less than impressed with them even though I was offered the job. With what I've learned about them since, I was wise to listen to my gut and decline.

    Arrow 2.0? They don't seem like the kind of outfit that will bring everybody in before they close the doors. Guess we'll see how it plays out.
     
  3. mountaingote

    mountaingote Gote With a Tude & a BIG Hammer Staff Member

    Might be fun to watch the rats abandon the sinking ship...
     
  4. Fatdaddy

    Fatdaddy Guido Staff Member

    It will be interesting to watch it play out.
     
  5. mountaingote

    mountaingote Gote With a Tude & a BIG Hammer Staff Member

    But it sucks to think how many little guys might get hurt
     
  6. cranky yankee

    cranky yankee Resident Sea Dog

    didn't they just buy out a couple other companies
     
  7. flyingmusician

    flyingmusician Official ORD Rocker

    It's been a year or so ago but yeah they started snapping up a few and just as quickly stopped buying.
     
  8. flyingmusician

    flyingmusician Official ORD Rocker

    You guys do realize what the real problem is right?

    Zoomie left. This is what happens when you lose such a talented and indispensable driver. The company just can't go on without them.
     
  9. mountaingote

    mountaingote Gote With a Tude & a BIG Hammer Staff Member

    They're trying to blame their troubles on owner-ops, but I suspect it goes way deeper than that
     
  10. AL. Roper

    AL. Roper Resident Cowboy

    I got a buddy that did the truck deal through Quality. I really hope he don't get pinched. He's leased to Mercer, so I guess we'll see.
     
  11. GAnthony

    GAnthony Official ORD Oddball

    Celadon bought out my former employer, Highway Express out of Richmond, VA..the greensboro terminal was one of ours. Celadon of course, took over all of our terminals. like anything else, Celadon was only interested in our accounts, such as ALL the cigarette makers, and liquor from Kentucky.
     
  12. flyingmusician

    flyingmusician Official ORD Rocker

    Yep they underbid and got most of our accounts out of colonial heights doing the cigarette runs when I was with Epes. Didn't last long though and we had most of them back. You get what you pay for I guess lol
     
  13. GAnthony

    GAnthony Official ORD Oddball

    yeah, i been to colonial heights with product from Quad Graphics. to me, a pain in the ass to get off the highway on that squiggly service road.
     
  14. Blu_Ogre

    Blu_Ogre Resident Happy Hippie

    Family started to gut it a few months back........ Cue corp theme song.....




    They are a known bottom feeder, that stayed in business because of large cash reserves. Cash reserves were siphoned out. Leaving a collapsing husk. Only concern I have is who will be buying up the lease contracts in the Bankruptcy sale. Not many companies are in that strong of a financial position. And will there be a massive cancellation of lease contracts. The flood of used trucks on the market from the various selloffs and inventory dumps should drop used truck values... Including mine.
     
  15. Prince of 'Doc'ness

    Prince of 'Doc'ness ORD Founder Staff Member

    We used to have a 'Quad's Graphics' plant here in my little town. It closed down back in 2014.
     
  16. mountaingote

    mountaingote Gote With a Tude & a BIG Hammer Staff Member

    Quad was too many, I guess
     
    Ming, chopper103in, GAnthony and 2 others like this.
  17. Prince of 'Doc'ness

    Prince of 'Doc'ness ORD Founder Staff Member

    They should have gone solo....
    :hush2:
     
  18. GAnthony

    GAnthony Official ORD Oddball

    there is one near my current job in Mass.

    then there were 2 different ones we'd make pick ups at in CT.

    the CT Quads were for the advertising cardboard displays for the cigs, and also the marlboro catalogs.

    can't say what the one in Mass does for the cig companies, if anything at all.
     
  19. Prince of 'Doc'ness

    Prince of 'Doc'ness ORD Founder Staff Member

    I never knew exactly what they made at the plant here but I did know quite a few people that were employed there.
     

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