Is The End Near For Celadon?
Topic 19497 | Page 1
By reading the article, makes it sound like the end is near. TBH, if I worked for them, I would find a new job.
This article was Oct 2015. Is there something now that's cooking?
By reading the article, makes it sound like the end is near. TBH, if I worked for them, I would find a new job.
It's never a good sign when your accountants backpedal from six quarters of earnings statements and the NYSE threatens to delist your stock and you close a terminal and give notice to a bunch of people, all in one week.
Terminal:
A facility where trucking companies operate out of, or their "home base" if you will. A lot of major companies have multiple terminals around the country which usually consist of the main office building, a drop lot for trailers, and sometimes a repair shop and wash facilities.
As a cross border driver, I can answer this for you. Celedon is not in any trouble. What happened is they bought out a Canadian carrier (Yankee) and took over their operations. They found they no longer needed two terminals within 100 miles of each other for cross border freight, and closed the US terminal as it was smaller.
Terminal:
A facility where trucking companies operate out of, or their "home base" if you will. A lot of major companies have multiple terminals around the country which usually consist of the main office building, a drop lot for trailers, and sometimes a repair shop and wash facilities.
Actually, Celadon is still hiring company drivers. As a matter of fact a friend of mine just completed orientation in Indianapolis. She will be doing LTL runs out of Louisville, Ky and now home every night.
She was told they are scaling back on lease operators, but that the company is in a solid position. She also said that nothing would stop them from lying lol, but they offered her very decent pay and she needs to be home for now so she went with them, despite any rumors floating around.
LTL:
Less Than Truckload
Refers to carriers that make a lot of smaller pickups and deliveries for multiple customers as opposed to hauling one big load of freight for one customer. This type of hauling is normally done by companies with terminals scattered throughout the country where freight is sorted before being moved on to its destination.
LTL carriers include:
- FedEx Freight
- Con-way
- YRC Freight
- UPS
- Old Dominion
- Estes
- Yellow-Roadway
- ABF Freight
- R+L Carrier
If Celadon is on its way out, Knight-Swift needs to step in and buy them. That way the drivers can keep their jobs.
If Celadon is on its way out, Knight-Swift needs to step in and buy them. That way the drivers can keep their jobs.
I wouldn't be surprised, if things do go south, that Werner makes an offer to buy them out.
As a cross border driver, I can answer this for you. Celedon is not in any trouble. What happened is they bought out a Canadian carrier (Yankee) and took over their operations. They found they no longer needed two terminals within 100 miles of each other for cross border freight, and closed the US terminal as it was smaller
The terminal being closed is in North Carolina, I believe.
Terminal:
A facility where trucking companies operate out of, or their "home base" if you will. A lot of major companies have multiple terminals around the country which usually consist of the main office building, a drop lot for trailers, and sometimes a repair shop and wash facilities.
One of the trucking FB pages, posted that they have taken down their entire terminal list, and Corp contact info.
Terminal:
A facility where trucking companies operate out of, or their "home base" if you will. A lot of major companies have multiple terminals around the country which usually consist of the main office building, a drop lot for trailers, and sometimes a repair shop and wash facilities.
It's hard to say if its the end. They do however have no less than 16 law firms filing suit for defrauding investors, the NYSE is looking to de list them and a whistle blower report was filed last fall with the SEC. They were investigated and fined already by the SEC back in 2015 for similar shenanigans and it appears as if they thought they could pull a fast one. It'll depend more on what will happen pending an investigation and the majority of their problems stem from Quality leasing and their shady tactics there but given the info that's easily found, I wouldn't want to work there until the smoke clears.
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Celadon Continues To Crumble; Lays Off 127 Employees And Shutters Terminal
Terminal:
A facility where trucking companies operate out of, or their "home base" if you will. A lot of major companies have multiple terminals around the country which usually consist of the main office building, a drop lot for trailers, and sometimes a repair shop and wash facilities.