Pride Group - TPine

WALTERK said:
If you are thinking what I am thinking, we might be on to something here! Switching to 100% o/o's..... What could possibly go wrong!
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I think increasing owner/operators may have any of these 3 OR all of these reasons.

1. If Pride is successful in saving Logistics part somehow ...their lenders will still want their equipment back So owner-operators with their own trucks are better option to continue.

2. With owner-operators ...usually payables get deferred more compared to own truck.

3. Pride brokerd alot of loads and Some (maybe more than some) carriers refused taking them ...they offered Cash on delivery..some carriers still refused) / They replaced carriers by owner/operators ..to keep that Big client happy

Share if any others you can think of?

In case there is an abrupt shutdown of Logistics ..O/Os will have more to loose then drivers. One think they have done well so far is they have kept payroll on time ...and Drivers and O/Os are generally happy .....so hopefully its kept that way and Logistics gets taken over by someone as is to keep the jobs of drivers and owner operators.
 
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JM2355 said:
I think increasing owner/operators may have any of these 3 OR all of these reasons.

1. If Pride is successful in saving Logistics part somehow ...their lenders will still want their equipment back So owner-operators with their own trucks are better option to continue.

2. With owner-operators ...usually payables get deferred more compared to own truck.

3. Pride brokerd alot of loads and Some (maybe more than some) carriers refused taking them ...they offered Cash on delivery..some carriers still refused) / They replaced carriers by owner/operators ..to keep that Big client happy

Share if any others you can think of?

In case there is an abrupt shutdown of Logistics ..O/Os will have more to loose then drivers. One think they have done well so far is they have kept payroll on time ...and Drivers and O/Os are generally happy .....so hopefully its kept that way and Logistics gets taken over by someone as is to keep the jobs of drivers and owner operators.
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You forgot if they use owner operators they can simply download all of the capital cost of the power units onto them- reduces their debt load and makes their business "look" more sustainable. Businesses also have fewer rights/recourse for payment than employees do under law, so it also allows a transportation company to defer/delay/avoid payment.
Let me be clear - I'm not saying thats what is happening, but the the reality of any company that uses an owner operator model is that they do it because it downloads all of the financial risk for capital cost for power units and operating costs from the company to the owner operator.
 
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thebluffs1 said:
You forgot if they use owner operators they can simply download all of the capital cost of the power units onto them- reduces their debt load and makes their business "look" more sustainable. Businesses also have fewer rights/recourse for payment than employees do under law, so it also allows a transportation company to defer/delay/avoid payment.
Let me be clear - I'm not saying thats what is happening, but the the reality of any company that uses an owner operator model is that they do it because it downloads all of the financial risk for capital cost for power units and operating costs from the company to the owner operator.
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That's kind of sketchy to say the least.
 
thebluffs1 said:
You forgot if they use owner operators they can simply download all of the capital cost of the power units onto them- reduces their debt load and makes their business "look" more sustainable. Businesses also have fewer rights/recourse for payment than employees do under law, so it also allows a transportation company to defer/delay/avoid payment.
Let me be clear - I'm not saying thats what is happening, but the the reality of any company that uses an owner operator model is that they do it because it downloads all of the financial risk for capital cost for power units and operating costs from the company to the owner operator.
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Hmm ...then that recent increase in owner operator hiring should really be concerning to owner operators. Hope they keep a close eye on what's happening inside and limit their risk to however much they can
 
MARTYI said:
That's kind of sketchy to say the least.
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Its why the owner operator model has been around since the beginning. There's a million ways to make it sound prettier, but all of it is just putting lipstick on a pig.

In exchange for the greater risk (the owner operator-independent business operator) takes a greater reward. Its a simple risk/reward tradeoff for both sides.
 
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thebluffs1 said:
Its why the owner operator model has been around since the beginning. There's a million ways to make it sound prettier, but all of it is just putting lipstick on a pig.

In exchange for the greater risk (the owner operator-independent business operator) takes a greater reward. Its a simple risk/reward tradeoff for both sides.
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And that is very fair as long as Risk comes with reward !
 
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Anyone find it odd a report hasn't been posted yet? I do know they are supposed to report weekly. Things have been very quiet since the last court date.
 
trucker199 said:
Anyone find it odd a report hasn't been posted yet? I do know they are supposed to report weekly. Things have been very quiet since the last court date.
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Let’s not start with all the unnecessary assumptions of false info. When there’s information to be posted, it will be posted.
 
trucker199 said:
Anyone find it odd a report hasn't been posted yet? I do know they are supposed to report weekly. Things have been very quiet since the last court date.
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I think their fate is sealed, rumors abound about the last bunch of customers jumping ship this week as they think it will be all over by Friday of next week.
 
MARTYI said:
I know for a fact that one of their major customers left this week, believe what you want
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hahahaha you have been praying for their downfall from last few months .If one leaves other comes.Name me the customer i will tell u if its true or not
 
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