Wednesday, December 23, 2009

Not Good News

Sudden things like this will snowball.

Arrow Trucking suspends operations

"Arrow Trucking Co., the 61-year-old Tulsa-based flatbed carrier, has suspended operations indefinitely, laying off employees and stranding scores of drivers around the country by cancelling fuel credit cards, company employees and drivers said.
After closing down the company phone system Tuesday morning and not accepting cell phone messages throughout the day, the company issued a statement from CEO Doug Pielsticker at 6:21 p.m.
“The company has been in negotiations with its principal lender,” Pielsticker said.
“Those negotiations are continuing, but the lender has elected to proceed with securing its collateral. The company is communicating with several interested parties and continues to seek a prompt resolution.”
One of Arrow’s lenders is Daimler Financial Services, which owns the company’s Freightliner trucks.
Beginning just before noon Tuesday, callers to Arrow’s west Tulsa offices were greeted with a recorded message: “Drivers, if you’re in Freightliner KW, please take your truck to the nearest Freightliner shop. Call this hot line number to Daimler, (877) 294-9679. They will arrange for you a bus ticket home.”
A spokesman for Daimler said the company is offering stranded drivers a bus ticket home or $200 in cash.
But many drivers didn’t have enough gas to make it to a Freightliner shop, Tulsa or even their next delivery."


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