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Posted: 2/13/2019 12:26:18 AM EDT
[#1]
Surprise!
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Posted: 2/13/2019 12:28:10 AM EDT
[#2]
I think the daughter of the owner was boinking Paul McCartney. Not the circle-walker. His next babe.
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Posted: 2/13/2019 12:28:47 AM EDT
[#3]
I suspect at sometime an employee joked about losing money on every shipment but making it up in the volumes, yet management didn't see it coming.
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Posted: 2/13/2019 12:29:53 AM EDT
[#4]
What was the outfit that closed up shop a few years back with equipment and freight still on the road?
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Posted: 2/13/2019 12:30:53 AM EDT
[#5]
Prime is about to go up another $20!
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Posted: 2/13/2019 12:32:22 AM EDT
[#6]
Quote HistoryQuoted:
What was the outfit that closed up shop a few years back with equipment and freight still on the road? |
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Posted: 2/13/2019 12:33:14 AM EDT
[#7]
Ouch.
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Posted: 2/13/2019 12:33:29 AM EDT
[#8]
Quoted:
Funny URL to boot: https://www.freightwaves.com/news/ltl-nemf-to-shit-down-after-filing Truck traffic in the NE is gonna get interesting... |
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Posted: 2/13/2019 12:34:00 AM EDT
[#9]
In before UPS admits taking it in the ass Like Lauren Sanchez did.
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Posted: 2/13/2019 12:34:14 AM EDT
[#10]
Quoted:
Funny URL to boot: https://www.freightwaves.com/news/ltl-nemf-to-shit-down-after-filing Truck traffic in the NE is gonna get interesting... |
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Posted: 2/13/2019 12:46:11 AM EDT
[#11]
Quote HistoryQuoted:
From the actual link, it appears it is going to shit down. |
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Posted: 2/13/2019 12:54:22 AM EDT
[#12]
Here's their coverage map. 19th largest outfit in the country.
Logistics peeps are gonna be burnin the mdnight oil for a month or three. Maybe longer as Norfolk Southern implements CSX's disastrous (for shippers) "Precision Scheduled Railroading" or PSR (most call it Precision Stock Manipulation). Companies were bailing on CSX left and right and moving to trucks. Now NS (and UP in the west) are joining the train wreck. Delivery times will go way up by summer. All the JIT factories will get good and properly focked, since inventory is evil. Yeeehaw!!! |
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Posted: 2/13/2019 1:01:46 AM EDT
[#13]
Here's where the nation's worst truck bottlenecks are:
@Gene5 that look about right? Any others care to add thoughts? Who is gonna pick up the slack? Isn't there a big driver shortage anyway? |
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Posted: 2/13/2019 1:03:13 AM EDT
[#14]
Quote History Quoted:
What was the outfit that closed up shop a few years back with equipment and freight still on the road?
eta: the feds are breaking it off in the ass of the ex ceo |
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Posted: 2/13/2019 1:06:12 AM EDT
[#15]
While industry watchers knew NEMF was having problems, no one had anticipated a bankruptcy filing and a subsequent shutdown. What’s more, LTL capacity is currently so tight that it will be impossible to efficiently absorb all of NEMF’s volumes at prices that shippers have been accustomed to, said Satish Jindel, who heads consultancy ShipMatrix and is familiar with NEMF’s operations. “There isn’t enough supply in the market to handle this,” he said in an interview late today. It makes absolutely no sense for a company to lose money and go under in a market where there is more demand for their product than the market can supply. |
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Posted: 2/13/2019 1:09:14 AM EDT
[#16]
Quote HistoryQuoted: This is some bizarro world stuff. If supply in that market is so tight, shouldn't NEMF have been in the proverbial driver seat to charge prices that reflect it? It makes absolutely no sense for a company to lose money and go under in a market where there is more demand for their product than the market can supply. |
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Posted: 2/13/2019 1:12:07 AM EDT
[#17]
In before "The truckers are making to much money"
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Posted: 2/13/2019 1:13:49 AM EDT
[#18]
Quote HistoryQuoted:
Sounds like it was their own doing signing on with Amazon at rates that were not sustainable. I know several folks who won't go anywhere near a Amazon Prime trailer. Quote HistoryQuoted:
Quoted: This is some bizarro world stuff. If supply in that market is so tight, shouldn't NEMF have been in the proverbial driver seat to charge prices that reflect it? It makes absolutely no sense for a company to lose money and go under in a market where there is more demand for their product than the market can supply.
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Posted: 2/13/2019 1:14:45 AM EDT
[#19]
Quote HistoryQuoted:
Sounds like it was their own doing signing on with Amazon at rates that were not sustainable. I know several folks who won't go anywhere near a Amazon Prime trailer. |
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Posted: 2/13/2019 1:18:02 AM EDT
[#20]
Quote HistoryQuoted:
I guess that was a really bad decision. I really work hard in my own business to never sign a deal that potentially puts my company "all in" though my customers ask all the time. Look at the cities giving the store away for HQ2. Business fundamentals (not a thing with politicians anyway) go out the window. Trump won, the economy took off and suddenly NEMF can't find or afford drivers to meet new demand. |
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Posted: 2/13/2019 1:23:18 AM EDT
[#21]
Interesting knowledge on the shipping industry on that freightwaves website and video
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Posted: 2/13/2019 1:24:19 AM EDT
[#22]
I wonder how much of an effect electronic logging is really having on driver supply.
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Posted: 2/13/2019 1:26:55 AM EDT
[#23]
Any deal with Amazon is a deal with the devil
Good thing this website is hosted with them |
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Posted: 2/13/2019 1:29:30 AM EDT
[#24]
I don't know how any LTL trucking company loses money. They charge a fortune, all our equipment shows up beat to hell, and they pay 10 cents on the dollar if you are lucky, and that's after hours of freight claim paperwork.
I just received another price increase, entirely related to freight prices. I have also heard of lots of trucking companies avoiding New Jersey due to tolls, BS enforcement by the state patrol, and awful traffic. Drivers would rather take their business elsewhere. 
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Posted: 2/13/2019 1:32:30 AM EDT
[#25]
They signed a contract that obligated them to prefer serving a low margin customer over their higher margin customers.
That's their fault. |
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Posted: 2/13/2019 1:33:14 AM EDT
[#26]
The problem isn't any one thing. Part of it is hours of service, part of is logging, the other part is that ranks of truckers aren't being replenished because it's not a job alot of people want to do. It's a confluence of several factors that's constraining capacity.
There's high demand for CDLs right now, and the supply is a bit low. Demand is high because people want to shop from their couch and get things delivered at their doorstep. Sure, shipping rates are rising, but so are costs. |
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Posted: 2/13/2019 1:40:53 AM EDT
[#27]
Quote HistoryQuoted:
The problem isn't any one thing. Part of it is hours of service, part of is logging, the other part is that ranks of truckers aren't being replenished because it's not a job alot of people want to do. It's a confluence of several factors that's constraining capacity. There's high demand for CDLs right now, and the supply is a bit low. Demand is high because people want to shop from their couch and get things delivered at their doorstep. Sure, shipping rates are rising, but so are costs. Trucking companies always seem like a hard sell to me... none have any "good will", why buy an existing company if you could just move into the market at a much cheaper up front price, without the headaches of legacy contracts and employees. |
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Posted: 2/13/2019 1:45:46 AM EDT
[#28]
Quote HistoryQuoted:
I wonder how much of an effect electronic logging is really having on driver supply. |
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Posted: 2/13/2019 1:46:08 AM EDT
[#29]
Quote HistoryQuoted:
They signed a contract that obligated them to prefer serving a low margin customer over their higher margin customers. That's their fault. Don’t lock yourself in a shit contract with poor margins. |
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Posted: 2/13/2019 2:04:19 AM EDT
[#30]
Quote HistoryQuoted:
What was the outfit that closed up shop a few years back with equipment and freight still on the road? |
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Posted: 2/13/2019 2:08:18 AM EDT
[#31]
A previous poster mentioned it, I was thinking of Arrow. Glad to hear the CEO is getting some attention from the courts.
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Posted: 2/13/2019 2:08:39 AM EDT
[#32]
Quote HistoryQuoted:
Consolidated I think. Quote HistoryQuoted:
Quoted:
What was the outfit that closed up shop a few years back with equipment and freight still on the road? |
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Posted: 2/13/2019 2:20:43 AM EDT
[#33]
Because the B school whiz kids drove all the cushion out of the industry (inventory is evil!!!) any hiccup in the supply chain makes all the downstream companies go sideways. One of these days it will be a BF hiccup, and every company will go tits up, except for the really big ones that pay Congress for protection.
As for Prime, who really cares if your widget shows up on Wednesday or Friday? Is the country really that short-attention spanned? I have enough home projects to keep me.busy for months, years even. I can't think of anything I need to get overnighted or even 2nd day. When I was working of course, everything was always in crisis mode, because management cheaped out on design and shit would break in the field. We'd have people running to the airport to FedEx stuff as they were loading the planes. We'd fly people with parts all over the country. Friggen circus. Our monthly transportation and shipping cowts were through the roof, but top management sure got their bonuses, because all those costs got swept hnder the rug. Buncha crooks. But I digress...  thank God I'm retired. I'd never go back into that rat circus again.
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Posted: 2/13/2019 2:48:15 AM EDT
[#34]
Walmarts gotta be loving this.
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Posted: 2/13/2019 7:55:38 AM EDT
[#35]
The same thing happens with suppliers to auto companies and other large companies like Walmart.
Once you start dealing with them they start to suck up all of your capacity until you drop all of your other work/customers. Once they get you to that point they start beating you down on cost and you have no choice but to go along since you told all of your other customers to get lost. |
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Posted: 2/13/2019 8:01:02 AM EDT
[#36]
Quote HistoryQuoted:
In before UPS admits taking it in the ass Like Lauren Sanchez did. |
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Posted: 2/13/2019 8:05:13 AM EDT
[#37]
 How Do We Make Money? Volume! |
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Posted: 2/13/2019 8:05:14 AM EDT
[#38]
I've read that something sort of similar happens to Walmart suppliers. Mt. Olive was featured in a story in particular.
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Posted: 2/13/2019 8:06:53 AM EDT
[#39]
Quote HistoryQuoted:
I wonder how much of an effect electronic logging is really having on driver supply. |
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Posted: 2/13/2019 8:11:22 AM EDT
[#40]
My guess is that this has been a long time coming and they signed on with Amazon several years ago hoping to stave off the inevitable by getting a contract with anyone that could inject cash into their business. Then with push came to shove and thing started to shake out their partnership with Amazon was the final nail in the coffin as the margins were too thin. In short too little to late.
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Posted: 2/13/2019 8:12:25 AM EDT
[#41]
Amazon is going away from outside trucking firms. It will take a couple years, but they are already working on it.
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Posted: 2/13/2019 8:16:05 AM EDT
[#42]
Quote HistoryQuoted:
I've read that something sort of similar happens to Walmart suppliers. Mt. Olive was featured in a story in particular. All that shiny volume wasn’t worth it and end in end that former employer went under because of it. |
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Posted: 2/13/2019 8:18:45 AM EDT
[#43]
Someone should tell all those fired HuffPo bloggers to “learn to
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Posted: 2/13/2019 8:26:44 AM EDT
[#44]
Quote HistoryQuoted:
From the actual link, it appears it is going to shit down. Quote HistoryQuoted:
Quoted:
Funny URL to boot: https://www.freightwaves.com/news/ltl-nemf-to-shit-down-after-filing Truck traffic in the NE is gonna get interesting...
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Posted: 2/13/2019 8:35:00 AM EDT
[#45]
Quote HistoryQuoted: The same thing happens with suppliers to auto companies and other large companies like Walmart. Once you start dealing with them they start to suck up all of your capacity until you drop all of your other work/customers. Once they get you to that point they start beating you down on cost and you have no choice but to go along since you told all of your other customers to get lost. |
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Posted: 2/13/2019 8:46:22 AM EDT
[#46]
Quote HistoryQuoted: The same thing happens with suppliers to auto companies and other large companies like Walmart. Once you start dealing with them they start to suck up all of your capacity until you drop all of your other work/customers. Once they get you to that point they start beating you down on cost and you have no choice but to go along since you told all of your other customers to get lost. I'd bet when they signed on with Amazon the margins were thin but there, costs have increased especially driver pay. I talk to lots of steel service centers that run their own trucks...hanging on to drivers is a problem but it's the only way to compete. LTL truck space is stupid expensive. We just invented a way to ship a part in a heavy cardboard box that used to ship in a custom crate. Saved our customer $$. Not only on the labor and cost of building a crate out of heat treated lumber but they can ship them UPS/FedEx now. |
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Posted: 2/13/2019 8:51:03 AM EDT
[#47]
Quote HistoryQuoted:
This is some bizarro world stuff. If supply in that market is so tight, shouldn't NEMF have been in the proverbial driver seat to charge prices that reflect it? It makes absolutely no sense for a company to lose money and go under in a market where there is more demand for their product than the market can supply. Quote HistoryQuoted:
While industry watchers knew NEMF was having problems, no one had anticipated a bankruptcy filing and a subsequent shutdown. What’s more, LTL capacity is currently so tight that it will be impossible to efficiently absorb all of NEMF’s volumes at prices that shippers have been accustomed to, said Satish Jindel, who heads consultancy ShipMatrix and is familiar with NEMF’s operations. “There isn’t enough supply in the market to handle this,” he said in an interview late today. It makes absolutely no sense for a company to lose money and go under in a market where there is more demand for their product than the market can supply. |
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Posted: 2/13/2019 9:04:20 AM EDT
[#48]
Quote HistoryQuoted:
They probably signed a shitty contract. CEO was likely not dumb, probably just too greedy to trust them and not have some sharp lawyers or SMEs go over the contract with a fine toothed comb. 
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Posted: 2/13/2019 9:28:17 AM EDT
[#49]
Quote HistoryQuoted:
Sounds like it was their own doing signing on with Amazon at rates that were not sustainable. I know several folks who won't go anywhere near a Amazon Prime trailer. Quote HistoryQuoted:
Quoted: This is some bizarro world stuff. If supply in that market is so tight, shouldn't NEMF have been in the proverbial driver seat to charge prices that reflect it? It makes absolutely no sense for a company to lose money and go under in a market where there is more demand for their product than the market can supply. |
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Posted: 2/13/2019 9:35:45 AM EDT
[#50]
Quote HistoryQuoted:
And the CEO is old, tired of NJ weather, and the family owns all the property to be sold for a nice chunk of change. Trucking companies always seem like a hard sell to me... none have any "good will", why buy an existing company if you could just move into the market at a much cheaper up front price, without the headaches of legacy contracts and employees. |
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