hope you aren't running the TRI's out of Brantford. Look at that juicy DET after 3 hours lol
Pride Group - TPine
- Thread starter SCAM CHASER
- Start date
30
Oh goodie Lowblows loads you know you are getting the big bucks pulling in there. Probably pays a whopping 250 to Ajax with 6pm deliveries on Saturday night IF you ever get your litter load on or make it out of the so called parking lot. Heard there is a very rare VW in the bottom of one of the pot holes but no one can go that deep to find it. PU is a shit hole deliveries suck and I am sure the rate reflects all that.. it will be shitter then both...
the saga continues:
www.trucknews.com
Pride Group granted stay extension to Sept. 30 - Truck News
A court order dated June 27 has granted Pride Group an extension of its stay period – initially set to expire on June 30 – until Sept. 30. This as the
www.trucknews.com
30
Scummy unethical operators can't close up fast enough for my liking.
I am not routing for anyone's downfall, their mess is one of their own making
I can assure you I'm not waiting on their downfall, just indifferent to the situation. This is a clear cut case of poor business management and greed, and its now open for everyone to see. There's a reason why there are carriers that have survived decades of turbulence in the market and still thrive. I feel bad for the drivers, dock workers and lower admin staff, who will ultimately be out of work in this crazy job market. For upper management and the owners I don't have sympathy for.
2
Maybe whoever buys Pride will keep the drivers, admin and dock workers... Hopefully
We all have our own opinions and nobody is praying on a downfall of another carrier. Everyone is just trying to keep their business in profit especially in this market.
But I mean if you know the cold reality of pride truck sales and t-pine on how they became so large in a small portion of time, your take on this would be different. Look at the litigations in civil court in Peel Region and T-pine is leading in those. During COVID when prices of trucks/trailers hiked, T-pine repossessed trucks from small owner operators and companies to sell them at a profit, and legally refused to provide the lease holders with their buyouts. T-pine did this to the smaller players in the market because they know that they can easily intimate them, and put them down in a minute. They used very cheap tactics to get big, and now its coming back at them. Ask people around you or even look online and their are so many cases you can see regarding T-pine.
Ultimately, its just karma coming back to them now for putting so many companies out of business and driving many owner operators out of their trucks and into driving for someone else.
But I mean if you know the cold reality of pride truck sales and t-pine on how they became so large in a small portion of time, your take on this would be different. Look at the litigations in civil court in Peel Region and T-pine is leading in those. During COVID when prices of trucks/trailers hiked, T-pine repossessed trucks from small owner operators and companies to sell them at a profit, and legally refused to provide the lease holders with their buyouts. T-pine did this to the smaller players in the market because they know that they can easily intimate them, and put them down in a minute. They used very cheap tactics to get big, and now its coming back at them. Ask people around you or even look online and their are so many cases you can see regarding T-pine.
Ultimately, its just karma coming back to them now for putting so many companies out of business and driving many owner operators out of their trucks and into driving for someone else.
I remember going to meet this lovely shipper at their office in Sauga years ago.
They were so desperate to find new carriers, this was in the midst of a good market so all their "partners" had moved to better freight.
We had done a bit of business with them and when we pointed out they were over 120 days over due for payment and there was about 2k worth of TONU's owed, their tune quickly changed to not needing us. What a waste of an afternoon.
2
I'm sure there is a lot of due diligence involved with a large number of deliverables. Any part of PRIDE will be mired with hooks and barbs that snag up any process. The buyer would be best to take their time and try to uncover every skeleton that is in that closet.
2
Looks like JD Factors buying a portion of the business.
Quick question, if JD factors ends up purchasing the factoring side of T-pine, does that mean we will have to sign a fresh contract with JD for a 1 year term. Or will our T-pine contract run until the expiration date reaches?
i'd assume they'll honor the terms in place but will probably have you switch over. The whole point for them to buy Tpine is to grow their customer base x fold over night.
JD Factors is proposing to purchase the Receivables portion of the business from T-Pine with an anticipated closing date of July 30, 2024. Since they are not buying the shares of the company the contracts may be null and void because you no longer have a contract with T-PINE unless there is a successor clause in the contract you signed (probably not). If not, it will be up to JD Factors to choose to honour the contracts or not.
Those people who are factoring with T-PINE and have a prior bad business relationship with JD Factors may find out the hard way.