Celadon Financial Troubles

Topic 20052 | Page 1

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Fleetwood Mac's Comment
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Permit holder looking into Celadon CDL training. Found a couple recent articles about them having financial issues. Should this concern me or does this happen often in the industry?

Celadon Stock In Danger of NYSE Delisting

Celadon Group -- A Story That Ends In Chapter 11

CDL:

Commercial Driver's License (CDL)

A CDL is required to drive any of the following vehicles:

  • Any combination of vehicles with a gross combined weight rating (GCWR) of 26,001 or more pounds, providing the gross vehicle weight rating (GVWR) of the vehicle being towed is in excess of 10,000 pounds.
  • Any single vehicle with a GVWR of 26,001 or more pounds, or any such vehicle towing another not in excess of 10,000 pounds.
  • Any vehicle, regardless of size, designed to transport 16 or more persons, including the driver.
  • Any vehicle required by federal regulations to be placarded while transporting hazardous materials.
LDRSHIP's Comment
member avatar

Being in financial trouble never bodes well for any company. It is what it is. They could survive this and come back strong or they could be slowly circling the drain and waiting for the plug to get pulled. I know they recently raised driver pay to entice drivers from jumping ship.

Whether the risk is worth it to you or not is your call. I personally wouldn't hire on with a company in their position until the they prove they are sticking around awhile longer. When trucking companies go under bad things happen to the drivers. For a worst case you can look up Arrow Trucking. One of the worst as far as being handled the wrong way. Several people went to jail over their doors closing.
Fleetwood Mac's Comment
member avatar

Appreciate the advice, Patrick. Thank you. It made me pretty wary, I must say. Think I'll pass.
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