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

Business Insider ^ | 12/08/2019 | Rachel Premack

[devane617]

Celadon, a truckload carrier that grossed $1 billion as recently as 2015, will file for bankruptcy on Dec. 11 or earlier, inside sources told leading industry publication FreightWaves on Dec. 6. It's poised to be the largest truckload bankruptcy in history — and its drivers are already getting slammed.

[caver]

I know about Cummins. I just retired from there.

[ClayinVA]

Volvo is laying off at their plant in Dublin VA this month. They made too many trucks this year and the lots are full.

[bgill]

A few years ago, they were being very shady on their training and hiring programs. They’d string applicants along and ask for all their personal info but when training classes would start, there would be some paperwork mix up. Very shady.

That headline with “Stranded” is ridiculous. Sure, a driver suddenly gets the call to leave the rig out in the middle of the backwoods of nowhere and thumb his way to the nearest bus stop.

[Zhang Fei]

[To: Hot Tabasco
Drivers do NOT make over $200k per year.
That is REVENUE not Net, not take home.
Try $40k.]

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Walmart was said to be offering truckers almost $90K. Is this article wrong?

https://www.cnbc.com/2019/01/28/walmart-is-hiring-hundreds-of-truck-drivers-and-paying-them-close-to-90000-a-year.html

[rockinqsranch]

This is fake news. Typical of BI, and Yahoo news trying to make something, anything negative Trump’s fault.

Celadon is involved in Securities fraud. Their bankruptcy is due their own crooked manufactured indiscretions. They aren’t as big a company as some others, but this article makes them out to be the largest trucking company in the country. Far from it.

It’s a BS Orange Man Bad for the economy article by Leftist sources.

[minnesota_bound]

One of the comments at the site:
Two Celadon executives involved in a multi-year accounting scandal resulted in shareholder losses of more than $60 million dollars which plunged Celadon’s stock from $20 a share to 41 cents a share on Friday causing celadon to file for bankruptcy.
And there you have it in a nutshell. Yet More Greed and corruption by corporate CEO’s resulting in shareholder loss, company failure, and job losses.