Express 1 Buyout

[Yesteryear]

boy....what a perspective from just a drivers side.....try being an owner....and I think she either drives for ES or Jung...the ones E-1 kiss hiney too with special fleet incentives. yup 40% of a buck 12 is a good deal....

Actually no I do not driver for ES, who is a good company to drive for by the way. I drive for a small fleet owner, George Mullen. Why we get miles has nothing to do with who we drive for! It is because unlike some of you (not all, just a few and you know who you are) we do not "cherry pick" our loads. We take most of what is offered to us. We do not turn down a load because it is only 100 or 200 miles or because it is going to the East coast. I actually had a team tell us, "Dispatch don't even call us for those little loads, it's not worth our time and we don't do East coast either!" At the same time they are complaining they aren't getting enough miles. My opinion, get off your lazy butt and take your share of the "little" and the "East" runs and you might find that those loads do add up!
Also it is not just the miles we get that makes Express-1 a great place to be it is the repect we are shown on a daily basis and the feeling of being part of a family that makes it the best and NUMBER 1 company!

Remember . . . it doesn't matter how many miles you make if you are miserable . . . I like being HAPPY!
(of course the miles help too, lol)

 

[Monty]

I wonder, how many small expedting carrier owners might be looking at Jacobs as the godsend who will take their companies off their hands and free them to buy an RV and live the good life?

Well .. speaking for myself ... I just brought home a new 35' travel trailer yesterday. (Had to rearrange aprking so it would fit behind the house)

We, can live the good life ourselves, if we plan for retirement, invest wisely and do this from a young age.

 

[OntarioVanMan]

Actually no I do not driver for ES, who is a good company to drive for by the way. I drive for a small fleet owner, George Mullen. Why we get miles has nothing to do with who we drive for! It is because unlike some of you (not all, just a few and you know who you are) we do not "cherry pick" our loads. We take most of what is offered to us. We do not turn down a load because it is only 100 or 200 miles or because it is going to the East coast. I actually had a team tell us, "Dispatch don't even call us for those little loads, it's not worth our time and we don't do East coast either!" At the same time they are complaining they aren't getting enough miles. My opinion, get off your lazy butt and take your share of the "little" and the "East" runs and you might find that those loads do add up!
Also it is not just the miles we get that makes Express-1 a great place to be it is the repect we are shown on a daily basis and the feeling of being part of a family that makes it the best and NUMBER 1 company!

Remember . . . it doesn't matter how many miles you make if you are miserable . . . I like being HAPPY!
(of course the miles help too, lol)

Glad to see your a team player and do the little ones too...

but your view is strictly from a drivers perspective...I'd be happy too....some great dispatchers over there...Kelli, Kim, Gina...not so much Jason, he is young he'll learn...LOL

but the article specifically mentioned the business from freight forwarding and brokerage interests... Don't be surprised if his core business is going to be in tractors and sells off the expediting arm...or just makes it a stand alone company..

Glad you are happy with that said....Good Luck

 

[Yesteryear]

Glad to see your a team player and do the little ones too...

but your view is strictly from a drivers perspective...I'd be happy too....some great dispatchers over there...Kelli, Kim, Gina...not so much Jason, he is young he'll learn...LOL

but the article specifically mentioned the business from freight forwarding and brokerage interests... Don't be surprised if his core business is going to be in tractors and sells off the expediting arm...or just makes it a stand alone company..

Glad you are happy with that said....Good Luck

Thank you OVM, we are very happy and do plan to eventually buy a truck of our own. We want to wait until our son is out of college in another year and a half before we start thinking of it but I can tell ya that when we take the plunge it will definitely be with Express-1. We actually opened a maintenance account back in December in future preparation for being an O/O. We have built it to $8000. so far and are hoping to have a minimum of $20,000 in the account before buying. We will take the initial down payment from our savings but after that we want to be sure we don't have to take money from our savings in-case of break down. So we do have plans of being O/O in future. We truely believe in the quality of Express-1 and there is no where we would rather be. It truely is a great company and I am sure that is what this Jacobs saw as well.

 

[xiggi]

I think it is fabulous that Jacobs believed enough in our company to INVEST 150 million dollars in it! It says a lot for how great our company is.

An investor buying a company often says it is having trouble and they believe it can be turned around. Not saying it is the case here but buying controlling shares of the company in and of itself says little about how good said company is but more about the deal they can get and what they think they can do with it. E1 has made a lot of money by reducing rates to drivers and pocketing a big chunk of the fuel surcharge. But your right the people are nice.

 

[Steady Eddie]

I think it is fabulous that Jacobs believed enough in our company to INVEST 150 million dollars in it! It says a lot for how great our company is.

Ya know, the then . . . when Susan called us in Oct of 2009 and said our truck was being pulled from Tri-State and placed with Express-1 we were so upset I was actually crying! The now . . . It was the BEST thing that ever happened to us in expediting! We have grown to realize that Express-1 is the BEST expedite company out here! We have never once been asked to take a reduced rate load, we run good miles, and every day dispatch re-affirms our belief in our company. Our dispatchers work hard for us, they get us loaded in places where we would have had to dead-head from when we were with Panther or Tri-State. They are always polite and never try to badger or intimidate a driver into taking a load they do not want to do and NEVER offer REDUCED rates! Bottom line . . . we are what all the other companies wish they were and I firmly believe this! I would say Mr. Jacobs obviously believes as I do! Express-1 = NUMBER 1

I like your way of thinking. The 150 million investment is in Express-1, some say he will sell that part off.LOL Just goes to show ya. He may sell it off but only after the investment pays off. That is the style of this type of investment. He seems to be a creature of habit, where he moves in, puts his own management team in place and hit the ground running.

This is my second "buy out" since I've been with Express-1. The world didn't end then.

There are a lot of Expedite companies out there, so why would he pick Express-1 over the rest....Oh, you said it "Express-1 = Number-1"

Jacobs has an Action Plan, (they all do), for his investment, would love to take a peek at it.

 

[greg334]

Well I guess no one has ever gone through a take over... hit the ground running? Maybe or maybe not.

BUT as I am curious like my cat who just had to see what was in the sump pump liner this morning ... I really wonder how many of you express-1 contractors or for that matter anyone in general as an owner, driver or just someone lurking have bought stock in their company?

I openly admit to owning a bunch of FedEx, Landstar and another company's stock for the long term because of my belief in those companies.

 

[Steady Eddie]

Well I guess no one has ever gone through a take over...

I really wonder how many of you express-1 contractors or for that matter anyone in general as an owner, driver or just someone lurking have bought stock in their company?

I openly admit to owning a bunch of FedEx, Landstar and another company's stock for the long term because of my belief in those companies.

I have been through at least 5 "take overs"

What would it matter how many of us have stocks in Express-1? Didn't you buy some when it was around .62 per share? Bahahahahahahaha!

 

[Yesteryear]

Well I guess no one has ever gone through a take over... hit the ground running? Maybe or maybe not.

BUT as I am curious like my cat who just had to see what was in the sump pump liner this morning ... I really wonder how many of you express-1 contractors or for that matter anyone in general as an owner, driver or just someone lurking have bought stock in their company?

I openly admit to owning a bunch of FedEx, Landstar and another company's stock for the long term because of my belief in those companies.

Have thought about it Greg, but to be honest our investment will be in the truck we eventually put on with the company. I think any O/O with a company does have an investment with the carrier. When these O/O's place a truck with a carrier they are investing in that company through that truck. Fleet owners have huge investments in their carriers. By owning the truck or fleet of trucks these O/O's are the integrity of the company. They, combined with their drivers are the make up of the company. Without them the company would not exist. So basically every O/O has an investment in their carrier. We the drivers and the O/O's and the dispatchers are the carrier!

 

[jelliott]

There are a lot of Expedite companies out there, so why would he pick Express-1 over the rest....Oh, you said it "Express-1 = Number-1"

Jacobs has an Action Plan, (they all do), for his investment, would love to take a peek at it.

A big part of the strategy for return on investment is stock price. To do that he needed a publicly traded company to be the base. As he buys and adds it will be a roll up situation. So based on that the choices for a starting point were much more limited.

Either way, he is obviously a smart man who has purchased a good company at a good price. He has a proven track record in business. But like anything, you are only as good as your last venture. We will see what the future brings. Like Eddie says this is not the first time for E1 so I am sure that they will remain a force in the industry.

 

[paullud]

An investor buying a company often says it is having trouble and they believe it can be turned around. Not saying it is the case here but buying controlling shares of the company in and of itself says little about how good said company is but more about the deal they can get and what they think they can do with it. E1 has made a lot of money by reducing rates to drivers and pocketing a big chunk of the fuel surcharge. But your right the people are nice.

Agree 100%, an investor like Jacobs will find an existing company he thinks is being run horribly or he sees an opportunity to break off parts of the company he views as dead weight and sell them. Either way this guy saw something major wrong that he could fix and make a killing in a few years.

Posted with my Droid EO Forum App

 

[skyraider]

How do u all really know this to b true

 

[Desperado]

Maybe he'll say no to cheep freight

 

[x06col]

I too am inclined to give Jacobs credit where credit is due. He has a proven track record of building large companies by identifying an attractive market segment and building through acquisition. He did not come up with $150 million to invest because he was lucky. He may not be immediately familiar with the details of operating an expediting carrier but based on results, he seems to know more about business most.

His grand plan may include a focus on brokerage and freight forwarding and to exclude expediting altogether from the multi-billion-dollar company he intends to build. Or, he may plan on rocking expediting's world such that his company will be number one in the expediting industry. Nothing stated in the news reports so far points to either one of these outcomes. We'll just have to wait and see.

I wonder, how many small expedting carrier owners might be looking at Jacobs as the godsend who will take their companies off their hands and free them to buy an RV and live the good life?

Free them to live the good life.........YA MON!!!!

 

[x06col]

Thank you OVM, we are very happy and do plan to eventually buy a truck of our own. We want to wait until our son is out of college in another year and a half before we start thinking of it but I can tell ya that when we take the plunge it will definitely be with Express-1. We actually opened a maintenance account back in December in future preparation for being an O/O. We have built it to $8000. so far and are hoping to have a minimum of $20,000 in the account before buying. We will take the initial down payment from our savings but after that we want to be sure we don't have to take money from our savings in-case of break down. So we do have plans of being O/O in future. We truely believe in the quality of Express-1 and there is no where we would rather be. It truely is a great company and I am sure that is what this Jacobs saw as well.

I like about all I read from you about how you manage your load acceptance and other things, cept.........the delaying YOUR future. Ain't the boy ready to have the cord cut????

 

[mcavoy33]

Is consolodation a good thing if there are too many small companies competing and under cutting each other? Doesn't balling up a bunch of those companies into one and having one corporate pricing policy for that share of the market, bode well for future prices?

 

[Steady Eddie]

How do u all really know this to b true

I got two QC beeps, not just one like Con-Way Now. Read it at Express-1.com, it will link you over to

http://markets.financialcontent.com/ir/?Module=MediaViewer&GUID=18716933&Ticker=xpo

 

[purgoose10]

Maybe he'll say no to cheep freight

Some of the reply's on here are border line funny, but this one is hilarious.

 

[Jefferson3000]

I had the same thing happen down there. Michael told me bounce was mostly semi work so it often didn't show up for dispatch.

Mostly semi? Not sure how many truckloads they move a day, but they've posted about 50 expedite loads so far today alone, and only 3-4 of them were tractor loads. Even though they're just up the road from each other, they do operate pretty independently it seems.

 

[ATeam]

Is consolodation a good thing if there are too many small companies competing and under cutting each other? Doesn't balling up a bunch of those companies into one and having one corporate pricing policy for that share of the market, bode well for future prices?

It may bump prices up but it will only help contractors if the carriers see value in paying them well.