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Celadon declares bankruptcy

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posted on Dec, 9 2019 @ 07:43 PM
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Indiana based Celedon trucking and filed for bankruptcy protection.

The COO and CFO have been arrested on nine counts of fraud and other assorted crimes. Apparently they were fudging the numbers for several years.
This leaves over 4000 jobs up in the air including thousands of drivers stranded around the country.

According to the article they knew by 2016 the company was in trouble and they devised a scheme to conceal millions of dollars of losses.

Right at Christmas time for these families.
Hopefully other companies will pick up the slack and hire the truckers.

www.indystar.com...
edit on 9-12-2019 by Bluntone22 because: (no reason given)




posted on Dec, 9 2019 @ 07:47 PM
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a reply to: Bluntone22It's just a temporary hardship. Actually it may be a blessing for many. I 2 drove for J B hunt years ago and they did try to get their drivers in for Christmas. By one day.
I pity the poor bastards and gals out there. They can easily find a job after the holidays.

edit on 9-12-2019 by CharlesT because: (no reason given)



posted on Dec, 9 2019 @ 07:51 PM
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a reply to: CharlesT

I know several small trucking companies that are constantly looking for drivers.
I think celedon is just a victim of bad management.
I did find it odd that such a big company had such young leadership. Age 39 and 40.
A bit wet behind the ears.



posted on Dec, 9 2019 @ 07:52 PM
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a reply to: Bluntone22

Unfortunately it's going to be rough to find a job now and after Christmas.

All the temp jobs are filled up for holiday logistics, and after there will be quite a bit of CDL drivers looking for full time.



posted on Dec, 9 2019 @ 08:09 PM
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a reply to: Bluntone22
Hot Shots fresh out of college full of cock of the walk. Like you, it's the peons I care about.



posted on Dec, 9 2019 @ 08:12 PM
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originally posted by: CriticalStinker
a reply to: Bluntone22

Unfortunately it's going to be rough to find a job now and after Christmas.

All the temp jobs are filled up for holiday logistics, and after there will be quite a bit of CDL drivers looking for full time.




I thought the economy was going great guns and there's masses of new jobs out there ?



posted on Dec, 9 2019 @ 08:18 PM
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originally posted by: hopenotfeariswhatweneed

originally posted by: CriticalStinker
a reply to: Bluntone22

Unfortunately it's going to be rough to find a job now and after Christmas.

All the temp jobs are filled up for holiday logistics, and after there will be quite a bit of CDL drivers looking for full time.



I thought the economy was going great guns and there's masses of new jobs out there ?


That doesn't really change the fact 4,000 drivers just got left high and dry in the middle of December.

It's not hard to find someone looking for a CDL, but depending on where you live, this is one of the worst months to be looking. FedEx, UPS, Amazon, and other logistics company have already done their temp hiring in November. Come January, some of the temp jobs dry up and you have all those cats looking for what's next.

If you're willing to move, you'd be fine in no time.



posted on Dec, 9 2019 @ 08:19 PM
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a reply to: hopenotfeariswhatweneed

The economy is doing great.
And if you had bothered reading the linked article you would have seen the problems were realized in 2016 and the head honchos have been arrested for fraud.

Even a great economy can't overcome bad management.
edit on 9-12-2019 by Bluntone22 because: (no reason given)



posted on Dec, 9 2019 @ 08:40 PM
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I'm sure many of them knew they should have been proactive looking for something else. Doesn't sound like they were blindsided like Solandra and a President who just said whatever, easy come easy go.



posted on Dec, 9 2019 @ 08:50 PM
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a reply to: Stupidsecrets

Sometimes the pawns have no idea about what the kings are doing.



posted on Dec, 9 2019 @ 09:24 PM
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a reply to: CriticalStinker

Fair enough, I guess those drivers will have to look at it as an extended holiday.



posted on Dec, 9 2019 @ 09:26 PM
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a reply to: Bluntone22

Well if it is a great economy it can easily accommodate those laid off drivers then in the new year.



posted on Dec, 9 2019 @ 09:52 PM
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a reply to: hopenotfeariswhatweneed

Well if a driver is stranded somewhere they were hauling a load which shows there is demand for truck drivers.
Had the bankruptcy been caused by lack of business then that would be a bigger concern.
Bad management is to blame here not the economy.



posted on Dec, 9 2019 @ 09:56 PM
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a reply to: Bluntone22

Im aware it was bad management that caused these layoffs, my comment about the economy was on the back of you guys going on about what great shape it's in, so my point would be these drivers should have no issue finding new employment.


(post by Jason79 removed for political trolling and baiting)

posted on Dec, 9 2019 @ 11:17 PM
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Wonder how Mexican Trucking Company Jaguar is doing. Since Celadon owned it as well...


Just looked, Jaguar remains active but Hyndman (Canada based Celadon owned) is done.
edit on 9-12-2019 by Ahabstar because: (no reason given)



posted on Dec, 9 2019 @ 11:25 PM
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a reply to: Bluntone22

There's a huge relief effort underway by other companies. Everything from having their drivers pick up Celadon drivers and transport them, buying them bus tickets home, to paying them for miles run under Celadon if they go to work for them, to one company paying them for the holidays even if they don't pull a load for them.
edit on 12/9/2019 by Zaphod58 because: (no reason given)



posted on Dec, 9 2019 @ 11:28 PM
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a reply to: Stupidsecrets

They were absolutely blindsided. One of the office workers was told the day they closed the doors that they were losing their job. And even if you know it's coming, you don't expect your fuel card to get shut off in the middle of a load, or to be told to clean your truck out and leave it at a truck stop with the keys.



posted on Dec, 9 2019 @ 11:32 PM
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originally posted by: hopenotfeariswhatweneed
a reply to: Bluntone22

Well if it is a great economy it can easily accommodate those laid off drivers then in the new year.

Commercial trucking is literally the lifeblood of this country.

These drivers will have absolutely zero issues finding new employment. In fact they will probably be sought after, depending the kind of runs they made.

The runs made by that company will have to be filled by someone, and it will take drivers to fill those spots.



posted on Dec, 9 2019 @ 11:38 PM
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a reply to: Vector99

You're talking over 2,000 drivers. Not all of them are finding jobs as easily as said here. Even a big company only has so many trucks. It takes months to add more trucks to their fleets.



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