CAT Global Inc

[Trucker13]

This topic’s been talked to death. If I could actually short someone in transportation, it would have been CAT. A new head director, with limited experience, in a troubled economy will bring down once a reputable company.

Factoring companies checking out from CAT, is why you are seeing companies hold loads hostage. You cannot even get your AR insured with CAT as a debtor. CAT is essentially using the cashflow from the brokerage division to keep their own trucks on the road. What could possibly go wrong? Thankfully we have gotten paid, and I am appreciative of that fact. However, once folks stop taking loads from CAT, this house of cards will come crashing down.

P.S. Summers long over and it doesn't seem like the girls from accounting ever came back....

 

[LrgCar]

Guy in the Dallas office. He may have no idea they are not paying carriers.

To my knowledge, all payments go through their Canadian offices, and the way their loads sit on the board, I trust they are 1000% aware of the financial woes of their employer. I really do wish the best for CAT, Although they have been cheap lately, they used to be a very good broker across the board.

 

[jagsidhu]

“The property’s posted on LoopNet — there’s definitely some smoke there.”

 

[Rob]

“The property’s posted on LoopNet — there’s definitely some smoke there.”

Yes that is a flame not smoke anymore IMHO.

 

[misto27]

“The property’s posted on LoopNet — there’s definitely some smoke there.”

Oh....not good

 

[H.Jordan]

Downsizing maybe? I am an optimist at heart.

 

[EricG]

has the cat used up all nine lives? only time will tell us all.

 

[Rob]

Downsizing maybe? I am an optimist at heart.

Selling the main office and yard? Glass half full type here as well but the main yard and corp offices???

 

[misto27]

Well, seems to be for rent and not for sale but I guess if it's for rent, someone could buy it - listed since 01/21/2025 - but still weird.

 

[misto27]

So - just because, I checked. 4 rue du transport is almost empty since they merge with Vaudreuil. So the actual office is in Vaudreuil and not in Coteau-du-Lac anymore.

So, there's that.

Just to get facts straight.

 

[Ruler]

Thank you for the information all. Dont think anyone knows all information

 

[Gr8Loads]

Not sure if things are that bad or not, but just received an email from a collector:

Reaching out because over the past 60 days my firm have been conducting an investigation into the assets and liabilities of Cat Global Inc. This month I was able to recover a sizable amount of money for them for other carriers.

Over the past week we became aware that they laid off a significant portion of staff, some who have not been paid themselves based on the information I have seen.

We discovered that you were likely owed money by them. I think we have a short window of time to recover funds from them so we would like to assist you.

We operate on a contingency basis where if we do not get you paid, there is zero cost. Our rate is reduced here to 20% based on the total amount of claims we have received. This means you receive 80% and we are estimating turnaround time of about a week, based on the last claim.

If you would like to proceed please send me a copy of your invoices that are due.