Addressing the comments on factoring and the irresponsible blabbering of slow paying, first, ASE has never nor has it needed a factoring company. ASE is a financially sound entity, that is growing very well, and has one of the healthiest credit scores in the industry. Two, ASE has survived one of the worst economic crisis of our lifetime, as did many of its competitors. None of us could have of done that without some kind of financial security and having those partner carriers that supported us heavily. Three, during the economic downturn, as did many industries abroad, there were bank failures big and small and their customers were heavily affected with credit lines being eliminated and/or called in, this was done merely to enhance the banks balance sheets and free up their cash position. Many transportation companies were practicing slower pay terms, many manufacturers and logistics providers practiced this as well, cash was king. Many carriers, ASE and its competitors experienced our terms that we were paid, extended from 30 to 90+ days. ASE did move from an extremely large bank that was one of the culprits in the cause of the greatest economic turbulence of our time. During such, if small carriers were affected by a slow down in their receivables during this transition, my deepest apologies. ASE pay terms are based off of invoice received and proper documentation. ASE's payment terms are normal of the industry standards and ASE's financial situation is that of strength allowing it to explore a possible quick pay program for carriers seeking a better way of factoring their invoices. Many carriers whom were affected by a decrease in payment terms, relied heavily on factoring companies that would charge them back if any term extended beyond the contracted set terms between them and factoring provider. As the President of ASE, I invite any person wishing to discuss further, the contents of this blog as well the previous comments made.
If ASE didn't act as a good corporate citizen, it would not be in business today and have the support of many partner carriers, big and small. ASE is proud to have made it to the other side of this financial crisis and we congratulate all competitors, fleet owners and independent O/O's, that have done the same.
We are Growing Forward.
