The "team" is shrinking.........

[MyOwnPeace]

Since we've been told that IQ45 has a great team of people who won't let anything bad happen to him, you know, bikers, Klansmen, etc., I'm thinking that some who were being counted on to "deliver the help" just might not want to be there for him............

An American trucking giant is slated to declare bankruptcy — and it may leave more than 3,200 truck drivers stranded and jobless

https://www.msn.com/en-us/money/companies/an-american-trucking-giant-is-slated-to-declare-bankruptcy-%e2%80%94-and-it-may-leave-more-than-3200-truck-drivers-stranded-and-jobless/ar-BBXXdx6?li=BBnb7Kz&ocid=mailsignout


Here's another "chilling" quote from the article: "Another 1,000 truck drivers lost their jobs in November, and it's a chilling sign for the economy"

Just more proof that the "economy" is not as great as the dear leader has been claiming.

[onlyadream]

1. And they'll STILL vote for him.

Watched interviews with farmers who are going broke now, and they don't like what Trump did, BUT - they'll still vote for him. Boggles the mind.

[A HERETIC I AM]

2. The issue with Celadon seems to have more to do with corporate malfeasance than the economy

Two of the executives were charged with fraud and they settled a Securities fraud case back in the spring for $42 million, which I'm sure blew a giant hole in their finances.

https://www.ttnews.com/articles/two-former-celadon-executives-charged-fraud-scheme

DU'er TexasTowelie put up this thread back in April;

https://www.democraticunderground.com/10501278

[Mike 03]

3. Worth reading.

The trucking company is Celadon. From the article:

2019 has been a challenging year for truck drivers and their employers. In the first half of the year, about 640 trucking companies went bankrupt, according to industry data from Broughton Capital LLC. That's more than triple the number of bankruptcies from the same period last year - about 175.

ACT Research said America's $800 billion trucking market has been in a recession since early 2019. Freight volumes have declined for 11 straight months. Manufacturing, which tracks the trucking industry, has contracted for four straight months.

However, the source of Celadon's troubles dates back further than 2019. On Dec. 5, the Securities and Exchange Commission charged two former Celadon executives following a multi-year accounting scandal. The alleged fraud resulted in shareholder loss of more than $60 million.

That plunged Celadon's stock to 41 cents a share on Friday - a considerable tumble from the high $20s per share that the stock was worth in 2015 before the accounting scandal became public knowledge.

[Mike 03]

4. By god look at Celadon stock this morning.

.033 cents (down 38 cents or 91.95%) EDIT: Previous close was 41 cents.

[Mike 03]

5. Just heard on Road Dog Trucking channel.

News on the hour led with the Celadon bankruptcy. They said "fuel cards are being deactivated. If you are a Celadon driver and your fuel card still works you'd best fill your tank ASAP" and then referred drivers to a Facebook page.

Road Dog Trucking is a Sirius/XM channel for truckers.

[DAMANgoldberg]

6. When I was an OTR trucker

and had Sirius/XM (primarily Sirius at the time) that was one of my goto channels especially outside the NYC/Washington corridor when my radio had on WTOP 1500 AM (at the time) in DC and WCBS Newsradio 880 in NY/NJ. I had to get a handle on traffic to plan where I was going to stop, and could I make it to the rural parts of CT to get parked.

Road Dog started out as an extension to the Trucking Bozo and his son from WLW 700 in the 'Natti. Entertaining radio to keep me alert and focused.

Not surprised by Celadon, just shocked they held on this long. My old carrier, Covenant Transport could pick up some of the pieces in a fire/bankruptcy sale, especially their Indy facilities. Also, look for USXpress to make a play as well.