(04-29-2019 )ynot Wrote: These "sudden" closures of companies are usually far from sudden, waterloo's situation sounds a bit different then the usual we've gone bankrupt stories.
The closures are a work in progress for a couple years Bill's start pulling up fuel cards not working a day here an there or even constantly switching back an forth between fuel stops,maintenance on the trucks starts slowing down. On the road breakdowns take long too get fixed. A "smart" company will always make sure too keep the drivers paid cause as long as they're getting paid most of them notice the little signs of disaster brewing in the background.
When a company suddenly closes its doors it's usually cause they lost the battle on securing more financing extensions on loans ect. An the lawyers have told them it's over shut em down. I'm not defending these companies when I say this but they don't tell the drivers what's going on an try an keep thing going business as usual up an tell the last minute while they look for money hilding out hope it's not over, so they can stop everybody from jumping ship cause as we all know without us drivers their company is done for anyway.
I think when I gets too that point ya may as well go out gracefully get everybody home pay em shut the doors, cause if they do find some influx of cash it's only gonna stem the bleeding for a couple more months, very very few trucking companies if any ever manage too get back out that kinda hole.
Yep this is exactly how is usually goes down. In the end the ones in charge pocket as much money before the cash flow ends, That is how greed affects people. They do anything for the almighty dollar!
