CAT Global Inc
- Thread starter Gr8Loads
- Start date
20
there are a lot more asset carriers closing up shop than there are brokerages.
I will tell you why. Carriers are dropping their pants down, just to move the trucks. It's not brokers fault. Carriers to stick to a decent rate. That way we can all make $$$$.
My thoughts
17% on a $100 is a far cry from 17% on $6500. If said broker is moving a bunch of small change ltl $50 profit could be 33% for crying out loud on a $150 tab, averaging that out sounds really good but that's not reflective of profits or greed for that matter.
30
As in any business, controlling overhead and expenses is just as important as concentrating solely on profit margin. Every dollar you can save in overhead goes directly to the bottom line. In challenging times such as these, it is imperative to limit discretionary spending, or any spending that does not contribute directly to profit generation. We are all experiencing an erosion of our gross profit margins as rates continue to retreat. Strict management and control of overhead costs can help to maintain your net profit margins. When the "good times" return, having learned how to operate lean and efficient will result in greater profits. Or you can take the money and spend it as you wish!
5
We are in the same boat. 60 days past due. I've been emailing my contacts but getting nothing back.
30
You won't get a response unless you're under a load and threaten to hold it for payment. I hate to have to do that, and I am no pirate by any means, but if we are getting no response from anyone, not even the dispatchers for whom we are doing the load, then it's something we will have to resort to if it means we get someone's attention.
10
I hope this helps, we decided to deal with CAT in a very unorthodox method but only because we truely believed they are kicking carriers to the curb and intentionally avoiding payments and communication. We picked up another one of their cheap@$$ loads from ON to NY and demanded full payment before delivery. You wont believe how fast we got a call back... According to Stefan popovic (presents himself as the Director of Accounts), it was a simple mistake that they havent paid or communicated over 90 days.
"You should have contacted me by email (spopovic@catglobal.ca) or our Toronto Ops department (opstoronto@catglobal.ca) and this issue would have been resolved right away.
We didnt email ops nor contact Stefan initially, and maybe that was our mistake but we did have half of their company on these payment demand emails and we even warned them, that if this issue presists and we are in posession of their load, there will be delays until the account is up to date.
We are still waiting for payment from them, they decided to pay for the old invoice but felt like " it was unfair for us to pay for services you did not complete yet" according to Stefan. " We are not a bank to pay cod for our shipments" (unbelieveable right?)
Long story short, we should get paid tomorrow and get this issue wrapped up. I am very curious if this guy is telling the truth and will take care of everyone who emails him. Let me know and I hope this helps your situation.
"You should have contacted me by email (spopovic@catglobal.ca) or our Toronto Ops department (opstoronto@catglobal.ca) and this issue would have been resolved right away.
We didnt email ops nor contact Stefan initially, and maybe that was our mistake but we did have half of their company on these payment demand emails and we even warned them, that if this issue presists and we are in posession of their load, there will be delays until the account is up to date.
We are still waiting for payment from them, they decided to pay for the old invoice but felt like " it was unfair for us to pay for services you did not complete yet" according to Stefan. " We are not a bank to pay cod for our shipments" (unbelieveable right?)
Long story short, we should get paid tomorrow and get this issue wrapped up. I am very curious if this guy is telling the truth and will take care of everyone who emails him. Let me know and I hope this helps your situation.
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Thanks for the message @hrb604 . I will email this guy. See what he says.
I have 4 open invoices with CAT currently. Ranging from 22-280 days.
I have 4 open invoices with CAT currently. Ranging from 22-280 days.
we had 2/3 invoices paid to our Factor. (yes till they improve their invoices are going to be factored with us) that being said it weird how they are paying them too, 1 Invoice 165 days and 1 @ 210 days got paid. the 1 left is nearing 370 days..
I'm curious, seeing as they are asset based, wondering if there's any rumblings on that end?
I'm curious, seeing as they are asset based, wondering if there's any rumblings on that end?
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And what makes Stefan think carriers are banks that loan money to his firm interest-free?
15
I would suggest
Go on linkedin
Do a search with CAT Global
Go on the company page
Click person
Then you have a sh** tons of contacts, including VPs and carrier relationship managers.
Take the name down, send emails - all same domains.
That's usually does the trick. 280 days - doesn't make sense. Involving ALL the higher ups, including owners, on the email chains....guarantee it will get the job done.
Go on linkedin
Do a search with CAT Global
Go on the company page
Click person
Then you have a sh** tons of contacts, including VPs and carrier relationship managers.
Take the name down, send emails - all same domains.
That's usually does the trick. 280 days - doesn't make sense. Involving ALL the higher ups, including owners, on the email chains....guarantee it will get the job done.
10
Apperently we are just a CEBA for them. This is what gets me, because I know how this thing works. Delay payments for 4-6 months and you know how many carriers will just write off these 1-2K during year end? I think plenty.
The others can just wait while CAT Global operates 500+ assets interest free on your account. Hypocrisy at its finest from them. They are memebers of TIA, and have Surety Bonds, and have been in the business for 40 + years. That does not mean anything these days.
From my experience Surety bonds are useless, here is an attachement I got with regards to filing a claim with surety. Check this out... Specifically point 3 ( its a joke). You will be waiting 130 days past the already 60-90 days you have been waiting probably ... To find out the company is closed and they offering you now pennies on the dollar... Someone please correct me if I am wrong?
Attachments
Took Mr. Stefan exactly 15 minutes to get back to me with an apology and an assurance that payment will be made within the next 24 hours. We will see.
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I dont understand how come factors dont report their slow payments on Transcredit and Equifax... if this has been going on for a while just report it. Since factoring companies are the only ones that can do so.
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Really hope you get paid! Keep us posted. 280 days on invoice, if you get paid I expect timmies gift card sent my way LOL just kidding.
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@Gr8Loads we just got a remittance from them, hoping to see the money soon. I owe you, thanks for the help!
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How old are the invoices? If they are only a month old, you can't go crazy yet.
The shipper putting a lane on hold doesn't mean they are going under or anything.
They still owe you the money for the services rendered.
30
Thinking this poster is on the either London to PA or Woodstock to PA deal they have and all worried. Lane has been on hold before. I have done a couple when I needed to get to the area.