Breaking News! 92 Year Old Trucking Company Files For Bankruptcy & Fired 341 Truck Drivers
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- Опубликовано: 1 май 2024
- Article- www.freightwaves.com/news/92-...
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I hate seeing drivers lose their jobs but the truth is the entire industry needs a major enema. These companies closing down are all bottom feeders look at their rates.
Become a millionaire
Become a millionaire
@@robertruschak7083oh hell yeah.
The owner of Arnold IS a millionaire and the brother of the owner of US Express. There is a good example to follow for the millions:
Screw everyone in the climb to the top.
Hey, Nick Lyons, how is that fine company to work for now?
The sad part to this? Is in two parts.
1). Everyone in corporate and fleet knew it was coming.
2). The long time drivers there already had so much time invested with Arnold that they could not "just pick up and leave." But they saw the slide, they just did not know when.
All the shop could do was a tire and a decal. The instructors and staff could not wait for 4pm. They were already rolling up their sleeves for "monster mudding and four-wheeling."
Drivers on the road making runs were turned around at destinations by their own dispatch from Arnold. Gate guards were stumped by such professional quality...Arnold cut their own throat and "used" the drivers to do it. The drivers all deserve medals most especially the older ones that had carried the company and were forced to take second-seat to Pride and their drivers.
Yep, there is your example of how to become a millionaire...go ahead f--k your brother.
Emma🫢 💩
Welcome to Bidenomics!
Trucking is still busy as hell, blame the brokers for taking most of $$$ per load and reducing pay out to truckers
What word are you living in?😅
Why would you blame brokers for stupidity of drivers? If driver wants to work for free, let him. If he/she does not have any self worth, that is what they are worth. There is a reason why “smart” old-timers loved unions and have a comfortable retirement. There is also a reason why current drivers are broke and proud. Aka; stupid.
Busy vs profitable are two different things.
@@roadtodestination9195this is such a dumb statement. It’s because these idiots bring the rates down for all of us and we can’t control it, we have to run to pay insurance, truck payments, ect . And brokers are pos for taking advantage of this and not paying the fair rate.
But it’s okay this is all finally changing. All these new dudes that entered the market thinking they were making big money because they couldn’t do the math are all going out of business
Yeah that's right
to hell with the trucking industry! THE GOVERNMENT HAS TAKEN IT OVER!
All by design. They want to control the supply chain in order to control the economy and the people!
Arnold was from PA. Lebanon and Camp Hill. They were owned by the same people who owned New Penn which was sold to YRC. Now both carriers are gone sadly
If I hear “driver shortage” ONE MORE TIME -_-
Agreed 💯
Pure propaganda
All the big companies need to shut down that's all mega companies.
Flip flops yes drivers no
Good riddance Arnold
I ill pray for the 341 truckers who lost their job and that they find a new job real soon God bless the truckers ho keep the human race alive
Fuel prices,over regulations, off service 10 hour rule, harassment
At rest stop by dot.should be illegal.
I’m giving this a thumbs up for because it’s communicating not because it’s good news. I know it’s bad news that a company goes out of business but I never seen this bad. I’ve been driving since 07.
just here to share information. Hoping will have goof news, but if anyone has any, please email me. would love to share
Pause. Because a company files for bankruptcy doesn't mean it's closing down. Wake up people. It's in a restructuring/repayment according to the economy and fuel prices fright market. The company is just letting go of a few bad apples that's it and that's all. It's called recycling.
I would assume for a company to just up and shut down. That has been around for almost a century that there was serious mismanagement somewhere along the way
When Arnold was bought pride restructured and took long time staff and laid them off and hired Indian staff especially load brokers and dispatchers.
These companies are not only in the trucking industry they are in the business of immigration
Yep...ruining the entire nation...they catch on soonervor later...
I can see the economy is crap! Shitty bank upped the intertest rates on their Tractor supply credit cards from 18.9% to 34.9% . We cut up the card and mailed it back to them. Our credit scores are like 816. Last I heard was fifty million Americans are defaulting on their credit cards. Does not surprise me many companies are going to be history. All them companies gone , don't need any more deliveries .Great Depression is here.
Synchrony did the same! C-ya don't need a high interest rate!
Home Depot did that to me , when I asked they said we're raising all cards. I asked my balance, paid it off then and closed account. They tried to lower once they realized I was closing the account. Did right thing.
@@cynthiawanek8353 The Wife and I have no debt now. Higher home insurance rates forced us to pay off the mortgage. We only have one charge card from Chase at 8,9% , That is our bank and a very good one also. We have no balance on that card. We are both retired. We view it as an insult for a company to raise our rates.
Trucking was destroyed by greed
No it’s being destroyed by government!
Yeah government greed and control!
Office lady was telling me how she booked a load from New Jersey to Ohio 620 dollars. That doesn't cover fuel alone minus tax God forbid a blown tire
Thats the problem nxt time that broker will post loads for 600$ out from my sweet home NJ
The fking tolls will eat a chunk of that.
We get that much for a in town.
Broker laughed all the way to the bank with that one and then some 🍨
Flip flop load
Damn companies operating at a loss, subsidized by the government
Where is my government help? This is some bull
@serggla924 went to Ukraine. You're an American, we come like fourth, behind elected officials, other countries, large donors.
Props to you for correction updates.
Sad thing is, the economy needs less companies, but more drivers.
Thanks for the info!
Debt is destroying the economy.
Who's debt? The US government 's $35,000,000,000,000.00+ has destroyed the Dollar, and we are seeing Hyper inflation.
trucking is a predatory and very greedy industry
Them and brokers too boot
@@kelvintorrence5994 all of it. carriers, DOT, shippers. recievers. planners. brokers. dispatch
Market is very bad
If you're stupid, it is. Mine is anything but bad.
@@wyomingskyyou saying something that random without an explanation means you’re a moron that sucks fat hairy cawk and just bragging online
@@wyomingskyok what are you making per mile?
Agreed. It's bad all the way around. Owner op and company driver. Everyone at the fuel stop looking for a load or waiting for dispatch.
@@wyomingsky how you find loads? How long you been in business? What you haul?
The old good ol boys system is breaking down. Big companies have too much overhead. You have the boomer and x Gen reps retiring so long standing loyalty is depreciating in return for maximum profits on the shipper and broker side. Many carriers will go the Dick Simon route.
Alex!!! Thanks for the crash and burn information.... the bloodbath continues.
Pride truck sales ain’t selling trucks they have a fleet in ft worth on 820
Great work u ou do!Thanks sincerely from a Verteren 10 year drivers at Arnold !
I don’t understand is plenty of trucking jobs every where I play 1 week ago and I got call for every single one find a good one in the FedEx contract company just get up and look
More to come BIDENNOMICS has not even set in yet!!!! What did Bad Company say BBBBB Babybyou ain’t seen nothing yet!!!!
I work for JB HUNT and they do actually care about their drivers. Especially the more experience and dedicated drivers. JB HUNT tries their best to not lay off drivers, but when situations like this happens, there isn’t much JB HUNT can do about it. Besides, try to find a place for those drivers.
Your smoking some good stuff
@@L15a5haw You’re*
I worked for JB Hunt on their Family Dollar account out of Rome, NY. Trust me, mega carriers don’t care about you as a driver. They say they do, but they don’t. I broke my a*s on that account and didn’t make a living on that pay. They shortchange the drivers who are the ones doing all the work. I stayed on for six months and then found a better local hourly job hauling gas. Home every day, off on the weekends (not just 34 hours) and paid hourly with overtime at time and a half with the backing and benefits of a union. It’s out there drivers if you look for it and work hard for it.
Jb got a ton of bad reviews from company drivers. Hiring contractors their loads pay low
😅😅😅😅 that is so funny. JB Hunt cares everybody....
Wow I’m shock. I once work for Arnold transportation when they were in Jackson fl. Under us express wing ..
I remember when they were silver eagle before being bought by Arnold ,sad
I might have to be the one to start it soon. If i sit on the side of the road who will join me? The ride for truckers rights not just mine but all my trucking families out here.
That was Bachman Turner Overdrive,not Bad Company
JB Hunt made it big off the tax payers, and hunt himself said back in the day that if his trucks made a penny a mike he was making money.
I remember that,and JB drivers getting their asses kicked in rest areas….
@@BrentWShort Do you remember what a Schneider egg was?
I work there and it's all over with
please can you find info about the FedEx ground and Express merger please
Trucking companies are reporting 100% turn over within 6 months at least that is what I read and that CDL driver shortage was to address turnover not actual cdl holder shortage but either way I watched some info on unionization efforts on A More Perfect Union channel. frustration seems all over the economy since never before in history has so few been able to manipulate so many.
When I drove for U.S. Express in 2008 they owned Arnold transportation. Did they sell it ?
Exactly what I said. I was leased to Arnold when USX brought them out. I'm confused myself because I thought they weren't even Arnold anymore
The economy is deeeeep in the ass. Every day we loose money. We just wait to see who kept more cash
That’s what I said on the other post . I trained for another company and did a lot of southern ca. students they always wanted a local job and just wanted to stay
There.
I new it that breaks my heart
Arnold was a scab operation started by the owners of New Penn Motor Express. Of course, it was not profitable. They started out taking lowball rates in the spot market when they first formed. They used to have a terminal outside of Harrisburg PA then moved the entire operation down to Jacksonville, Fl. That was about thirty years ago. Some speculators brought it up and moved to Texas. So, it is hardly 92 years old.
I was at Arnold in Camp Hill, PA around 2010 and they were hiring a bunch of Indians (From India) back then. -Seemed kind of chaotic and I was picking up scrap paper which seemed to be anew endeavor for them. No one knew about it (went to a buildings/docks) so they must of started the scrap paper business the week before etc on a whim.
-seemed to be a chaotic operation even back then.
Easier to have huge corporations instead of a ton of small companies.
I know I mentioned it before but Tony’s Express was a 70 year old company that just shut down putting 100 drivers out of work. It's just depressing. I have my starter yob but hope to leave for something better, I just don't know when.
Is there any good news at your RUclips?
There is a JB. Hunt truck sitting in Walmart parking lot where I’m at been sitting over a week now
Good. So long. Nice to meet ya. Don’t let the door hit you on the way out. I don’t shed a tear for any big company that goes under. Trucking companies especially megas are responsible for the current situation. All big companies need to realize we the people have the power. Not even just trucking. We need to create more opportunities for ourselves. We don’t have to be greedy we can all live comfortably but these corporations are trying to take everything from us. Create more small businesses!
How is creating more competition help small businesses?
Competition helps consumers not businesses.
To fix trucking industry, most companies need to go out of business and make it harder to start new trucking company.
So if every McDonald’s in the United States was replaced by a single family owned restaurant or hamburger place is that more competition? Or more opportunity at a local level for a family to be supported by a small business? You’re not seeing the big picture. I’m talking all industries. Corporations are driving out small businesses. There making it harder to survive on one small businesses stream of income hence why you have to have multiple properties or companies to survive. In the 70s and 80s a small business could support a family. The more small carriers that go under is only room for mega carrier expansion. There will be less competition alright lol knight swift would love to pay you 50cent a mile when you sell your truck. And if you don’t want to drive for them they are working on automation anyway lol
I hate to say it like this, but more and more companies and owner operators have to fall off for the Freight rate to climb back up to sustainable levels to run a business
I’m not a trucker but I have seen so many industries oversaturated to the point that it becomes a race to the bottom. I’ve been reading the comments, this one makes most sense to me.
@@MrNobodyJones thanks a lot, boss man I have been a truck driver for over 13 years now it got me my house my property out of poverty I honestly have to thank God for letting me choose this path in life. I worked for the mega Carriers and now I work for a small farmer. Best job I’ve ever had and honestly I have never seen the industry slow when it comes to decent freight priced fairly these companies out here are charging $.80 per mile OK my boss refuses to run cheap freight. It makes no sense. You’re just burning up fuel where in tear on the equipment and barely covering your expenses so she gives some time off to 10 of his drivers that want them off. And keeps another 10 rolling. Over the road, the best that he can but hopefully as terrible as this sounds, the week will die off and the strong and intelligent will stay alive
@@abrahamsoto2297 how you know your company won’t be one of the weak ones to die off lmao
@@serggla924 believe it or not I can guarantee you my company will not die off you see I work for a small town farmer 👨🌾 here in upstate Michigan. He’s not like the larger corporations that worry about investors family own family operated 30 drivers roughly 40 trailers. Best company I’ve ever worked for, let’s just say he holes Freight that’s pretty much recession proof but I wish you the best on your end and just to let you know if you’re curious, he specializes in alfalfa
We all need work but the truth be told all these big companies were trying to flush us small O/O out, in a way I am happy with the news
I drove a truck leased to Arnold Transportation back in 99 witch was a DEBT FREE COMPANY at that time. How do you go from debt free to bank ruptured. They also owned New Penn at that time. A highly rated freight co. Amazing that well established companies like these are no longer around because of poor management. not sure but I think yellow freight bought out new Penn. and both are gone.
Gee, I wonder what’s going to happen to Forward Air ~ 😱
Does the autonomous truck future have any effect on trucking industry now? Here in Texas, they are about to exit testing stage, and turn the trucks loose. I was wanting to get into driving.
How much did upper management and ceo got bonuses before the bankruptcy. Like yellow did
Everyone is in survival mode right now. It’s 2008 2.0 right now. Actually this might be worse.
It will be worse. All my construction friends are starting to feel the slow down too. It’s exactly how it happened in 2008. Trucking first then everything else followed
@@serggla924 my father remodeled his house just before Covid and out of curiosity he calculated what it cost him then and what it would cost him now just for the building materials and it was almost triple what he paid in 2019. It’s no wonder why people aren’t building things. Materials alone are expensive and contractors aren’t doing it for free so if you can’t do the work yourself then you have to flip the bill.
Something else happened in 2008.
And he continues with his 3rd term.
This is just the beginning.
The trucking industry has always had its ups and downs. When you get these mega companies taking on too much overhead, that sets them up for a major risk. In a shaky economy, it’s not smart to rely on the industry to stay the same. In a nutshell, it’s just greed, they get greedy and take on too much. Now they have to pay for hundreds of new tractors/ trailers and probably multi million dollar terminals. It’s no wonder they end up going under. Keep it simple, trucking will NEVER offer financial security!
So Amazon is at risk ?
Did they had anything to do with K J Transportation in Farmington NY. I know they were bought out.
Arnold was a good company long ago then splitting with New Penn and US Xpress taking control ruined the company even after they split from USX they never really recovered.
The rate is so terrible, it's impossible for a small conpany or owner operator to survive .
Often fuel eat 50% of the rate con
not easy out there
( Goode Transport LLC )
Let’s go Brandon
Was a new Penn driver which I believe Arnold was parent company of it at one time. They sold new Penn to yrc to shit bag yellow.
Mannnn I didn't get my CDL for nothing just to hear this about companies shutting down, I'm trying to see if I can be an ower operator after two to three years with an company
Pride is still hiring. Just seen ad
So sad. But it's not over yet. There will be three more major carriers that will shut down, and many will be surprised.
Maan, when is this going to get better/The freight Recession
Please VOTE !
Yes vote trump please 🙏🏻
OK, TRUMP!!!!!!
How can anybody think that voting is legitimate after the last presidential election?
@@midwest3123 Nothing new. Californians voted against "illegal" immigration, for the Death Penalty, for the vote on "succession" and against the gas tax. The leftists managed to tie it all up in court and circumvented the "will of the people".
@@midwest3123straight up. These people are on meth if they really think votes matter. 😂😂😂😂😂
couldn't the truckers work for moving companies and do relays
Jb hunt sucks I will never work for them nor swift.
They have had money issues for decades. Last time around it was US Express bailed them out.Bad Management it’s Only Obvious.
I thought US Express owed Arnold at one time?
You might check the cal laws sick pay and other fees
i think we are going to see a lot of companies like this go under . most of these loan shark carriers are going under can't wait to see pam fall. I mean it is horrible for the drivers losing their jobs but this is the result of the trucker shortage scam to many drivers on the road. making profit drop by more than half because everyone is willing to offer a lower price. I used to own and run a tree service in florida and the same thing happened. everyone and their cousin started a backyard tree service offering lower and lower prices until they were cutting full trees for $15 to $20. then the bottom fell out and 90% of the companies went under. now after 5 years the prices are back up and all the bs companies are long gone. you can't do a job that cost $1k for $15 and expect to be able to make a profit and that is what is happening right now with the trucking industry. its catching up its taken years for it to happen but the bottom just fell and now all of these low ball companies are dropping like fly's. a oversaturated industry all of these companies that jumped on the wagon to earn a quick buck
BIDENENOMICS
Trump Virus
You.hear anything about Werner trucking company going under??
This is the second time I’ve read a comment like this
Say thank you Pride. Over bought and over promised.
Big gets bigger and little man goes away. What’s going to happen in the end ???
After pride took over went downhill from there!!!😡
Aronald just got too busy to big for its britches with drivers having accidents taking Knight Freight etc other freight they are just a regional company and should have merged with a company but a bigger fleet for JB & the othee companies & Happy Trails
Orchestration for the based upon 🤣
Damn, I was just bout to get into getting my CDL. Do you think is still worth it??
Nope
Absolutely bro
I'm ready to get out after 23 years
depends on your situation, if youre making minimum wage you can change your life. if you already make like 50-60k I would stay right now
Stay local
Did Arnold go out of business like 20 yrs ago & they came back with new owners🤔
Everyone is going broke
do what im doing? Stop telling ppl ur plans and stop working for less then 20 dollars a hour with overtime after 40 hours 😂
Anyone know about the mega merger between FED-EX and UPS?
They are going to become a new company called FED-UP! 🤪😜😛
Can anyone really question that barack has his 3rd term? There's no need to answer that. Just understand what's happening.
😮
The large trucking company pushing out of business by his self when trying to contract with lower rates, last week I was trying to book a load about 480miles posted for $900 I negotiated with broker to $110 and told me somebody booked for $800
You give more bad news than good news 🤷♀️
Makes me wonder what is the future for TFORCE FREIGHT
You in Washington? Or are they elsewhere? I thought they were local 🫣
Biden economics…
What plan or policy do republicans have to reverse this or prevent it from happening?
Sleepy Joe messed up our country not just trucking industry, stupidly pumping $$$ to Israel and ukraine
He doesn't give a shit about us.
FJB
The economy is stronger in Biden’s presidency than Trumps bro. Fact.
But "Trump is racist". I can't give an example, but he just is.
😂😂😂😂😂😂 I can’t stand dat shit
But it’s hella examples that Biden is 😂😂😂😂 ppl are just sheep
you can't afford to ship anything. you trucking company's charged way to much. 400.00 to ship a 200.00 car sheet metal part. Greed always bites you.
Trump isn't going to change anything in trucking industry. Don't know why anyone is so delusional to think so.
Muhammad's got your job Commie
And do you think Brandon is doing better?
@@jimmyboy223335 yes
Trump has mentioned he'd make changes to the trucking industry but TDS is a major illness.
@@Stavros1977the current piece of 💩 said the same thing
Give Joe a thumbs up. He's doing a great job. Ha ha.
super early
Trucking is dead coupled with outrages diesel prices, maintenance, gvt bureaucracy like permits, road tax etc all these things put together alone shows how the gvt is against American truckers smh
Sadly this didn’t have to happen. Biden’s economy
So why is all these trucking companies doing mass layoffs and bankruptcies? The trucking industry was happy years ago under Trump. Lost...
It's biden's doing. All his fault. Bidenomics
Family business.
They took on too much overhead during the boom and now the bill is due when the market is soft and they can’t pay their bills.
@@RiZenAsH l agree. But with cheap foreigner drivers, high prices of fuel, high insurance and stricter regulations. I would say that the trucking industry is under attack. Why not? they want to shut everything else off.
Remember Joe Biden n democrats party did this too you. 😢
The Trump Virus did this.