KAL FREIGHT Bankruptcy Shock: $313 Million in Load Default

Рет қаралды 15,858

Күн бұрын

Пікірлер: 75

@spartacus404-qd1dl 2 ай бұрын

I predict equipment is about to hit record-breaking low prices. Why? No one has room for all that junk that you can barely turn a profit with .

@NorthAmerican-Trucking-News Ай бұрын

It's been on a steady downturn since earlier this year

@greglawson3805 2 ай бұрын

Their downfall isn’t hard to figure out. They financed an enormous fleet of brand new trucks at the peak of prices, freight crashed because 1000’s of other trucking companies did the exact same thing. Easily predicted. One Million trucks need to be taken off the road.

@NorthAmerican-Trucking-News Ай бұрын

I see

@rashidabdul-salaam9090 Ай бұрын

No. The brokers need to be out of the picture. I’m not sure how to make this happen, but at the very minimum they should be mandated to disclose the actual shipping rates.

@darthinsanitus8510 Ай бұрын

They also committed major fraud….transferring assets/selling assets that were Collateral kept this facts off the books….and even got a major loan for a large amount to purchase trailers…but never did so…they kept the money and created fake documents showing they had these assets

@estebancarballo8240 2 ай бұрын

I remember they bought all new freightliner in Fontana Dealer in 2021. There were no trucks for other people.

@NorthAmerican-Trucking-News Ай бұрын

Is that so?

@estebancarballo8240 Ай бұрын

@NorthAmerican-Trucking-News Yes, I went to buy a truck, and the salesman told me everything in the lot and coming inbound was already booked by the company in question.

@theoBaba773 Ай бұрын

I just seen one of their trucks driving on Sunday

@somebody9785 2 ай бұрын

Cheap freight destruction strikes again!

@NorthAmerican-Trucking-News Ай бұрын

Thanks for watching!

@stanleybest8833 2 ай бұрын

It's only money. Let's hope drivers stay busy and trucks trailers find new homes at a reduced price.

@uwiwithanuzi Ай бұрын

Not a CDL driver here, but I drive on busy interstates pretty often. Its shocking how much lighter the volume of tractor trailer traffic I see on the interstates around here is, compared to 5 or10 years ago. Is the logistics industry in a severe downturn, at least in some parts of the country?

@victormejia512 2 ай бұрын

Hmm keep us updated Friday round up

@NorthAmerican-Trucking-News Ай бұрын

The Weekly Haul is coming soon!

@jamesclapp6940 2 ай бұрын

less than $3.00 per mile trucking will kill any company!

@NorthAmerican-Trucking-News Ай бұрын

Only if you don't plan accordingly

@MarshallMcCrory Ай бұрын

@@NorthAmerican-Trucking-News BULLSHIT(pros/cons) The financial planning is only part of it..... Why don't you research rates.....IN/OUT of Florida. My boss owns four trucks and has runs from FL/AZ weekly......He call brokers on loads EVERY DAY.... and he's OFFERED.... NINETY/DOLLAR TWENTY FIVE..... ORLANDO-PHOENIX.... So spare your "You havd to better plan your financials" Buf hey,if you can hire drivers for twenty cents a mile......WHY NOT. When you have trucks that will take ninety cpm just as a so called BACKHAUL.... WHICH is BULLSHIT TERMI NOLOGY.....or just to "PAY THE FUEL"..... NOTHING IS GOING TO CHANGE.

@paulputin3018 Ай бұрын

Ive never ever heard of them in my life.

@NorthAmerican-Trucking-News Ай бұрын

With how many companies are out there, it's hard to hear about them all until you finally do

@mrjv750li 2 ай бұрын

Why buy a rv when you can just buy a truck has bed and ac/ heater

@NorthAmerican-Trucking-News Ай бұрын

I wish it was a simple difference

@johnwelch3016 2 ай бұрын

Non American truck drivers...😂🎉😂🎉😂🎉😂🎉... This wouldn't happen in no other country ...Don King said it vest....😂😂😂 only in america 🇺🇸 😂😂😂😂

@yusufamir6639 Ай бұрын

What about Canadian companies

@darylb5564 2 ай бұрын

If you’re gonna go BK go big!😂

@NorthAmerican-Trucking-News Ай бұрын

Right?

@darylb5564 Ай бұрын

@ what I’m saying is if your gonna creditors you might as well make it count

@REALMAGGIETRUDEAU 2 ай бұрын

800 trucks in 10 years ?????

@NorthAmerican-Trucking-News Ай бұрын

Ya heard

@jayc4715 2 ай бұрын

They probably took out EIDL grants and loans

@NorthAmerican-Trucking-News Ай бұрын

Potentially

@Vasyl_Havrylyak Ай бұрын

With that new hair style you look like Don Corleone)))

@NorthAmerican-Trucking-News Ай бұрын

I know not who that is but I will assume that is a compliment. Thank you and God bless

@Vasyl_Havrylyak Ай бұрын

@@NorthAmerican-Trucking-News Vito (Don)Corleone is a fictional character in Mario Puzo's 1969 novel The Godfather and the first two films in Francis Ford Coppola's trilogy. Marlon Brando portrayed Vito in the 1972 film The Godfather, and Oreste Baldini and Robert De Niro portrayed him as a boy and young man in The Godfather Part II. In the film, Vito is the aging Godfather of a mafia family

@gabrielmoreno3999 2 ай бұрын

Ceo of kal freight made $313 million as a bonus. Kal freight now bankrupt

@pauljohn6637 Ай бұрын

Scam. He needs to go to jail for a long time.

@NorthAmerican-Trucking-News Ай бұрын

👀

@roadsideservice2406 2 ай бұрын

Absolute greed

@NorthAmerican-Trucking-News Ай бұрын

You think so?

@zae7101 2 ай бұрын

Hey Ronin, I’m trying to get my own authority I was curious can you use a 53ft refer as a 53ft dry can as long as you are not over weight, is this allowed is this not recommended if it’s not recommended can you explain why, thanks

@stevejoramo8013 2 ай бұрын

The only problem you may encounter is when loading a volumn load where pallets are double stacked front to rear. A van has a little more interior height than a reefer, and if they cannot enter the trailer with pallets double stacked, they may refuse to load the trailer. Other than problems like that just about any van load can be transported in a reefer. Just be honest about the fact that you are pulling a reefer not a dry box. Reefer trailers are a little heavier mty also.

@zae7101 2 ай бұрын

@@stevejoramo8013 Thank you this will help me decide what trailer to get

@NorthAmerican-Trucking-News Ай бұрын

It's possible

@fu2419 Ай бұрын

Not trying to be smart but honestly when that is your question you should seriously rethink what you're about to do. You should gain some experience before you do this, it is very easy to end up like so many who have gone broke & almost everyone in trucking & the related businesses will take advantage of you if they can. learning the hard way on your own dime can be devastating.

@hudsondonnell444 Ай бұрын

Anything Cal based is going to be drained by the State.

@REALMAGGIETRUDEAU 2 ай бұрын

Look at the name SINGH

@DavidSmith-vc3wl Ай бұрын

Well when you haul for nothing guess what?

@NorthAmerican-Trucking-News Ай бұрын

The market can be harsh though

@Towkings909 Ай бұрын

Those are my neighbors

@NorthAmerican-Trucking-News Ай бұрын

Really?

@RomeoUrsu-fy9qo Ай бұрын

The insurance is to set new high cost…in many cases,double from previous year. Don’t forget to ask for double price for your freight too….see how the reality in trucking works. Shops could charge as much as they need. States could charge as much as they need to cover their operations. And so is just about anyone in trucking industry…they will charge and they will find excuses to justify their expenses. But a trucking company can’t ask for more money…because always someone will contradict and just for low rates or even zero profits for the truck…. The argument is always there…depending on everyone operating cost…the biggest bullshit argument ever… The reality is different for a smaller trucking company….no money to operate one truck properly…not enough money to maintain an older truck according with safety and regulations…and not enough money to buy a new one too…. Everyone has its own cost: New truck…..the insurance and payment will skyrocket. A older truck…downtime for a lot of repairs and the lost time sitting in shops could be the formula for bankruptcy the easy way. Probably for a newer truck,a minimum of $2.75 per mile and a 3000 mile per week it will be ok….if the truck will last that long.

@NorthAmerican-Trucking-News Ай бұрын

Sounds like the trucking industry is playing a game of "who can charge more?" At this rate, we might need to start a GoFundMe just to keep our wheels turning!

@RomeoUrsu-fy9qo Ай бұрын

@ We know who charge more…truckers can’t charge in reality more…maybe more to stay afloat 😂😂😂😂