Market Spotlight: Auto Suppliers: "General Motors Corp., Ford Motor Co. and Chrysler LLC have all announced first-quarter production cuts, citing slower demand as consumers continue to be rattled by high fuel prices and trouble in the housing market. A significant portion of the production cuts will be in the large pickup truck segment, which will particularly hurt suppliers with the most exposure to that part of the market such as..."
Make no mistake... competition is going to increase for loads, because there will be a half mill. less new vehicles to haul, and less freight at the auctions.
Wednesday, December 12, 2007
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Interesting. PTS,a corporate entity of 12+ companies enters bankruptcy after grabbing Hadley Auto Transport,the family success story with Ford since 1931. Yucaipa takes on the PTS entity and gets out of bankruptcy. Mr Burkle and Yucaipa take Allied with a screwed back Teamster contract. PTS gives up the most lucrative ramp and contract in the world (Mira Loma) and moves to bankruptcy again. Burkle and Allied move to repossess by bid all of PTS equipment and presumably operate it all under its current contract with the Teamsters. What is next? Perhaps moving the whole lot over the border into Mexico? If pick up manufacture moves there in entirety, that will certainly be the case. In one year PTS has made all its corporate decisions with absolutely no input from its union employees, leaving everyone to question its proprietary practices. The car hauling profession is swiftly and quietly moving back to the bottom of the barrel.
well at least the majority of the work went to a union carrier in mira loma
I don't know how you figure that the majority of the work went to union carriers? United Road got the Chryslers and a portion of the Fords went to a non union carrier. That accounts for roughly half of the volume that PTS had at that ramp 1 year ago.
I was refering to the Fords, because Hadley walked away from the account.They lost the Chryslers through a bid process.
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