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conway sale

kg

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XPO rumored to buy Conway. That could stir some interest.

stay safe
kg
 

coalminer

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Well when it comes to mergers like this, the people who decided to "sell" the company will get rich, and there will be a bunch of layoffs of overlapping positions. How this shakes out to those of us at the bottom of the food chain? That is the question. With a full ltl truckload business to pay the bills, the expedite division could start hauling really cheap and drive a bunch of the smaller carriers out of business. I have a feeling that this is going to bad.
 

OntarioVanMan

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Wow! 3 Billion!
I wonder if @Ovm ever got his dime?
:nothingtoadd:
who do you think helped pay for this buyout?....guys like me and Steady Eddie staying way too long after the rate cuts!...

But...you know previous truckload and LTL carriers....like Conway Now paid well for their expedite....


XPO buying Conway is a kin to Werner buying Swift......BIG deal!
 

ntimevan

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Oh no!!!! What am I to do? Ha nothing!
Since your money will be tightly budgeted ... May I suggest moving your goat herd to Bison , SD . to free-range graze for the Winter ... the Barn will be stocked with extra fire wood to help keep them warm. :p
Oh ya .... another Merger (buyout) ... i am not losing any sleep over what i can't control.
 

blizzard2014

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Is XPO also acquiring Menlo Worldwide Logistics? If that's the case then the landscape is really going to start changing!
 

blizzard2014

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All of the acquired operations - Con-way Freight, Menlo Logistics, Con-way Truckload and Con-way Multimodal - will be rebranded as XPO Logistics.

Yup they got Menlo. A lot of expedite freight comes from Menlo. There are 5 main load boards/transportation management companies that handle expedited freight. NLM, Active On Demand, Menlo Worldwide Logistics, Ryder Integrated Logistics, and Expeditors International. XPO now owns two of them! That is pretty huge! Man how things are starting to change.

Read more: http://www.nasdaq.com/press-release/xpo-logistics-to-acquire-conway-20150909-01409#ixzz3lMjBpSZ7
 

bernieh48

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Yeah Conway Now did pay good until they sold us out in the middle of the night to Panther with no message to the trucks or anything!
 
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TruckingSurv

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Until 1983 Conway was part of Consolidated Freightways, I guess the spin offs and mergers are just continuing.

From a 2001 article I found this:

"We've taken the Con-Way NOW business model of asset-light use of independent business owners and high technology for shipment management and applied the model to repetitive, dedicated truckload-type moves," said J. Edwin Conaway, president and CEO of Con-Way NOW. "The results have been a higher level of service and a very competitive cost for shippers."

That was probably the beginning of the end for LTL expedited freight at Conway which ditched the Conway Now division in 2006.
 

OntarioVanMan

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All of the acquired operations - Con-way Freight, Menlo Logistics, Con-way Truckload and Con-way Multimodal - will be rebranded as XPO Logistics.

Yup they got Menlo. A lot of expedite freight comes from Menlo. There are 5 main load boards/transportation management companies that handle expedited freight. NLM, Active On Demand, Menlo Worldwide Logistics, Ryder Integrated Logistics, and Expeditors International. XPO now owns two of them! That is pretty huge! Man how things are starting to change.

Read more: http://www.nasdaq.com/press-release/xpo-logistics-to-acquire-conway-20150909-01409#ixzz3lMjBpSZ7
I don't see things changing much; they still have to move their expedited freight ...Bounce seems pretty reasonable with the rates....market competitive...
just a matter whose pocket the money goes into....:)
 

Moot

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Until 1983 Conway was part of Consolidated Freightways, I guess the spin offs and mergers are just continuing.

That should read Beginning in 1983 Con-Way was part of Consolidated Freightways Inc. CF Inc. created 3 non-union regional carriers. Con-Way Western Express, Con-Way Central Express and a short time later Con-Way Eastern Express through the purchase of Penn Yan Express. These three regional carriers were part of CF Inc. along with Consolidated Freightways (LTL motor carrier). The three Con-Way regional carriers all operated independently from each other and Consolidated Freightways.

As the Con-Way regionals grew some of their lanes began to overlap and they began to "interline" freight within the three companies. Eventually the three regionals became one nationwide LTL carrier. In 1996 CF Inc. spun off Consolidated Freightways the motor carrier as a separate company and the corporation was renamed.

Consolidated Freightways survived on its own for about 6 years. On Labor Day, 2002, CF locked its gates and filed for Chapter 11. I guess they were trying to send a message to the Teamsters.
 

Moot

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XPO's announced buyout of Con-Way gave my Con-Way stock a nice boost. I don't know if I should sell or ride out XPO's stock for a few years. I also have a Con-Way pension. I'm not sure how this buyout will affect that.
 
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Tennesseahawk

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XPO's announced buyout of Con-Way gave my Con-Way stock a nice boost. I don't know if I should sell or ride out XPO's stock for a few years. I also have a Con-Way pension. I'm not sure how this buyout will affect that.

I have a Con-Way coffee mug and deely boppers. Think those will be affected?
 
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