I think we’d have to look at the books here.
Are they over leveraged?
Did they do bad deals that weren’t profitable?
Did they manage their capital well?
Did they splurge on new trucks and equipment without getting a good deal?
Did they overpay for facilities/office/overhead?
If you don’t watch the major corners of the business you will go out of business. Every big company I’ve ever worked for has had these same issues. Bad ideas, bad contracts, bad spending habits, and borrowed thinking it was going to pay off in the future.
A combination of dishonest management and improper accounting put the company in jepoardy. In addition, US manufacturing slowed in the last year and reduced the demand for truck and rail carriage.
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.