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From The Desk Of Andy Clarke

Kyle06

Seasoned Expediter
Offline
In case you haven't seen it yet....

Edit: Don't mind me a little behind, at home on vacation :p

Dear Panther Owner Operators:

Today is an important and exciting day for all of us at Panther Expedited Services. Just minutes ago, a definitive agreement was announced to purchase our company, giving us a new partner in the transportation industry with a long history of outstanding customer service, dedicated employees and a top-notch management team.

When the deal closes, expected in a few days, Arkansas Best Corporation of Fort Smith, Arkansas, will be our new parent company. We will no longer be affiliated with Fenway Partners and are shedding a big debt load and opening up new horizons. This is simply great news for us and for our customers.

Arkansas Best, headquartered in Fort Smith, Arkansas, has been in business for nearly 90 years and is a freight transportation services and solutions provider whose largest subsidiary is the less-than-truckload (LTL) carrier ABF Freight System, Inc. In 2011, Arkansas Best posted revenue of $1.91 billion, about 90 percent of which came from ABF.

You may have seen ABF trucks and drivers out on the road with their signature green and gold colors, as they have a nationwide network and a broad customer base. With about 10,000 employees, they’re proud of what they do and are widely respected as a very well-run company in the LTL industry and transportation marketplace. In fact, ABF has been a customer of Panther’s ground expedite product since October 2006.

While having Arkansas Best as our new owner gives us access to a great number of resources including a very strong balance sheet, we will continue to operate as an independent company and grow our business. We will keep the Panther name and all of us in management remain on board, including me.

We’ll be operating as a separate, sister company to ABF Freight System and continuing business as usual, serving our customers as we always have. In short, other than having more stability with a strong new strategic owner and therefore many more opportunities for us to grow, nothing changes. For more than 20 years, we’ve been innovating and finding the best ways to serve our customers as supply chains grow ever more complex. We will continue to do that day in and day out.

So you may ask, does my day-to-day job change? The answer is no. Are we changing the Panther logo and company colors? No. Will our contracts and rate change? Again, the answer is no. Will ABF convert the Panther fleet from owner operators to company drivers? No. Are we confident in our future with our new owner? Absolutely.

I want to reassure you that nothing changes in your relationship with Panther. All of us at Panther look forward to continuing our partnership with you for years to come. For further information, please access the Panther driver or owner websites for a copy of the press release as well as for answers to a list of Frequently Asked Questions (FAQ’s).

Andy Clarke
President and Chief Executive Officer
Panther Expedited Services, Inc.
 
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Scuba

Veteran Expediter
Offline
I see this as a win for us many times i have seen ABF freight on the dock going the same place as the freight I am picking up it only makes sence to throw that on us at the same time plus a hassle free cross dock
 

armin88

Seasoned Expediter
Offline
All I can say is I hope things don't get worse and hope we move more freight.Never heard anything bad about ABF.
 

Moot

Veteran Expediter
Owner/Operator
Offline
I see this as a win for us many times i have seen ABF freight on the dock going the same place as the freight I am picking up it only makes sence to throw that on us
I don't see that happening. Why pay expedite rates when LTL will do, unless you are willing to haul both loads for LTL rates. Panther and ABF Freight are two separate companies and I don't expect much intermingling of freight. I do see us getting some of their guaranteed TimeKeeper™ shipments though.

Yes, a hassle free crossdock would be nice. I would also like to see ABF's sales force market Panther services.
 

fatboy1

Veteran Expediter
Offline
It would be great if abf markets panthers services. We have done some time keepers also and had great miles on them. Just have to wait and see givem 6-12 months before any big changes come been thru this with several companies over the years. I'M thinking positive.
 

Kyle06

Seasoned Expediter
Offline
Well just ran my first ABF Timekeeper Load, I wonder if we will start seeing more of these, I wouldn't mind the miles where good :p
 

canesman07

Seasoned Expediter
Offline
Can not be worst then working for a investment group now can it? I appreciate what they did in keeping Panther afloat and I hoped they made money that is the capitalistic system but better off being run by a legit freight company.
 
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