Pride Group owner seeks stay of proceedings until June 30

I've got a number of Linkedin connections that work at Pride. It seems as if the rats are jumping off the ship... almost all of them are now showing as "Open to Work" in their profile.

It makes me wonder... how many of them actually know this house of cards is about to collapse.

I feel bad for those that are doing their job day after day without being privvy to what's really going on there.
 
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Nawk said:
I've got a number of Linkedin connections that work at Pride. It seems as if the rats are jumping off the ship... almost all of them are now showing as "Open to Work" in their profile.

It makes me wonder... how many of them actually know this house of cards is about to collapse.

I feel bad for those that are doing their job day after day without being privvy to what's really going on there.
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How can they possibly pull out of it? Value of all the equipment is at half of what they probably paid for it. The rates are in the tank etc etc this is just prolonging the inevitable IMHO.
 
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Rob said:
How can they possibly pull out of it? Value of all the equipment is at half of what they probably paid for it. The rates are in the tank etc etc this is just prolonging the inevitable IMHO.
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I agree...
This is a tough time right now, even for well run companies that just might be light on the cash needed to get through this $h1tty time.
I'm sure the Johals will be fine... they've likely already lined their pockets. Drivers, O/O's, dispatchers, clerks and others that are just making a modest living... they're the ones that will get screwed after all this is done.
 
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Nawk said:
I've got a number of Linkedin connections that work at Pride. It seems as if the rats are jumping off the ship... almost all of them are now showing as "Open to Work" in their profile.

It makes me wonder... how many of them actually know this house of cards is about to collapse.

I feel bad for those that are doing their job day after day without being privvy to what's really going on there.
Click to expand...
Talked to a broker who is on the flatbed division.Said a senior dispatcher acts as it’s business as usual for the trucking part of the company when he is asked about the bankruptcy and what’s the future and he basically doesn’t acknowledge or just basically dismisses everything and he also said all drivers via their qualcomm were supposed to get a major updates from senior company officials about the bankruptcy and how the company had a plan to navigate through the process but the “major announcements” never were sent.He said everyone is left in the dark.Also he said and he found it very odd that their safety bonus was increased,that was the only official message that the drivers and brokers received since the company went into CCAA.
 
Upper Ech said:
now its really falling apart
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Yup the Pride Group of companies is folding up like a cheap lawn chair ….the main creditors should be monitoring 24 ✈️ flights.com to watch for the brothers high tailing it to Dubai in their private jet ️ that they milked through their elaborate Ponzi scheme…..
 
teddy said:
Yup the Pride Group of companies is folding up like a cheap lawn chair ….the main creditors should be monitoring 24 ✈️ flights.com to watch for the brothers high tailing it to Dubai in their private jet ️ that they milked through their elaborate Ponzi scheme…..
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Not sure its legal but I always felt in this situations, having to turn in your passport should be a thing. Nothing is stopping these guys from having another one or fake credentials but its one more hurdle.
 
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Fr8Guru said:
Not sure its legal but I always felt in this situations, having to turn in your passport should be a thing. Nothing is stopping these guys from having another one or fake credentials but its one more hurdle.
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Absolutely these jokers were obviously running a Ponzi scam….
 
Anyone know who could be handling the real estate sales? I could be in the market for some property
 
I was able to find out that they sold their new Milton dealership for $21 Million on April 8th.
Appears that Daimler was the company that received those funds are part of the payback.
 
SEAND said:
I was able to find out that they sold their new Milton dealership for $21 Million on April 8th.
Appears that Daimler was the company that received those funds are part of the payback.
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A drop in the bucket
 
SEAND said:
I was able to find out that they sold their new Milton dealership for $21 Million on April 8th.
Appears that Daimler was the company that received those funds are part of the payback.
Click to expand...
Do you know who bought the Milton dealership and if it included the land? That price sounds like it was only the land. I checked E&Y website and no new updates have been reported.
 
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