60MPH
Expert Expediter
HE HE!! How true
Pilot to buy Flying J - could it be true!
- Thread starter gjmcclain
- Start date
mjolnir131
Veteran Expediter
no going back to when the j cut some of there restaurants hours back from being 24 hour restaurants the ones that they cut back had bad service you could wait 20 min to get served so instead of actually fixing the problem the district mangers did the lets save our bonus move and cut back hours, instead of the lets make the company better move of addressing the bad service.
There was a thread on it. I will stick with the j's TA's is kinda wacky with the food purchase requirement.
Here's the link, Phil. It has lots of details:
http://www.expeditersonline.com/forum/general-expediter-forum/36554-ta-expedite-king-rewards.html
The food requirement is a little weird, but at the same time it's a good deal for those who end up where there is a TA but no Flying J, as I have many times. The only drawback is that you have to have the fuel purchase and the food purchase both take place within a 24 hour period (although after the shower is earned, you do have 3 days in which to use it). There are times when you can grab 20 gallons or more while on a run, then go deliver, and find no Flying J in the area, and go to a TA where you grab a meal that's within 24 hours of getting fuel, and you've now got a shower that you can use anytime within the next 3 days.
It's not great, but it's certainly better than what they offered vans before.
http://www.expeditersonline.com/forum/general-expediter-forum/36554-ta-expedite-king-rewards.html
The food requirement is a little weird, but at the same time it's a good deal for those who end up where there is a TA but no Flying J, as I have many times. The only drawback is that you have to have the fuel purchase and the food purchase both take place within a 24 hour period (although after the shower is earned, you do have 3 days in which to use it). There are times when you can grab 20 gallons or more while on a run, then go deliver, and find no Flying J in the area, and go to a TA where you grab a meal that's within 24 hours of getting fuel, and you've now got a shower that you can use anytime within the next 3 days.
It's not great, but it's certainly better than what they offered vans before.
That Americans decide not to eat healthy, says something about our society doesn't it? I refuse to date a woman who weighs more than me, and since I am under 175, not much to choose from!
I was at the "J" in Perrysburgh Today and Asked a couple of Employees if it was True that Pilot was Going to Make an Offer on Buying The "J S"s. They said that they Haven't heard anything about that Until I Asked Them. So IF Pilots Intentions are True then they are Keeping it Low Key..
I was at the "J" in Perrysburgh Today and Asked a couple of Employees if it was True that Pilot was Going to Make an Offer on Buying The "J S"s. They said that they Haven't heard anything about that Until I Asked Them. So IF Pilots Intentions are True then they are Keeping it Low Key..
Local employees would be the last to know about it except what they might read in the news.
Pilots parent company is Marathon Oil I believe....along with Speedway, Super America, Pilot.
Long list of takeover...Davis, Williams, Bosselmans..
I see Pilot is also seems to be in some sort of arrangement with Road Ranger Truck Stops..supplying fuel...
Prices will go up if the J falls....no doubt...
Long list of takeover...Davis, Williams, Bosselmans..
I see Pilot is also seems to be in some sort of arrangement with Road Ranger Truck Stops..supplying fuel...
Prices will go up if the J falls....no doubt...
You didn't read my posts, did you?
Yeah, two of them, one in particular that contain information about who owns Pilot, and what the arrangement with Road Ranger is.You made a post?
Yeah, two of them, one in particular that contain information about who owns Pilot, and what the arrangement with Road Ranger is.
Shesh..I was pulling your leg....*L* I goofed ok
..I admit I am not perfect finally....
Falligator
Expert Expediter
Nothing in there about a 50gal shower credit tho. I am still parking at the J's. parked there right now....
Nothing in there about a 50gal shower credit tho. I am still parking at the J's. parked there right now....
"Showers can be earned with the purchase of 50 gallons or more of Diesel Fuel or Shop Purchases of $50 or more for Shop Services or an individual purchase of 20 gallons or more of diesel fuel or gas AND a $10 purchase of food in the full service or quick service restaurant at a TA location in a 24 hour period."
Slo-Ride
Veteran Expediter
Whats wrong with Purdy thick women??
And whats your dating habits got to do with the Pilot going up for sale..Stop hanging out in the truck stops and ya might find a date
brownie4042
Seasoned Expediter
As a former Pilot manager for 12 years I will put my "two cents" in. Although I used to work for the company by no means do I "bleed Pilot Red and Yellow", I think by traveling 7 of the 12 years I was with Pilot, and now driving in a Sprinter for the last 3 1/2 years I think I have a feel for what they do right, and obviously what they do wrong. I also follow their website and run into a few buddies now and then. First off as of recent they are no longer partnered with Marathon , or any of their offshoot companies. An outfit by the name of CVC
Partners has recently purchased 47% of the company. (Pilot Website News) I know nothing about them other that I assume they are some of an investment capital group, orgins unknown. The Road Range deal consists I hear from a RR mgr. is a "weird" deal where Pilot owns and maintains only the diesel pumps within each Road Ranger.
From what I hear the "J" sale is somewhat coplicated by the J company ownership structure, in that not every unit has the same ownership status. The good news is if Pilot buys the whole packake or some portion of it, if there is one of the "old cracker box Pilots" no parking etc. which there is still a number of close to a "J"; they usually will cose and sell the Pilot to upgrade to the better and larger facility at the "J" The bad news is my personal opinion says and this is just pure speculation on my part says Pilot always priced their fuel off of the "J", what happens if the J goes away?
Lastly, love then or hate them one thing that is one of Pilot's biggest strength's is their obsession with thier cost structure and balance sheet. What does it cost them to pump a gallon of fuel, what are the margins within the restaurants, and lastly labor models within each profit center. This Pilot company philosophy has kept them in in the "game" and has always made them a major "player" when it comes to mergers and acquistions. Unfortunately this is in direct contrast with a plan that will support well staffed truck stops with full service restaurants and the "bells and whistles" that are cost prohibitve under their model. Yet you would think this might be a good customer service draw, and offer the "creature comforts" our indusrty desires.
Brownie
Partners has recently purchased 47% of the company. (Pilot Website News) I know nothing about them other that I assume they are some of an investment capital group, orgins unknown. The Road Range deal consists I hear from a RR mgr. is a "weird" deal where Pilot owns and maintains only the diesel pumps within each Road Ranger.
From what I hear the "J" sale is somewhat coplicated by the J company ownership structure, in that not every unit has the same ownership status. The good news is if Pilot buys the whole packake or some portion of it, if there is one of the "old cracker box Pilots" no parking etc. which there is still a number of close to a "J"; they usually will cose and sell the Pilot to upgrade to the better and larger facility at the "J" The bad news is my personal opinion says and this is just pure speculation on my part says Pilot always priced their fuel off of the "J", what happens if the J goes away?
Lastly, love then or hate them one thing that is one of Pilot's biggest strength's is their obsession with thier cost structure and balance sheet. What does it cost them to pump a gallon of fuel, what are the margins within the restaurants, and lastly labor models within each profit center. This Pilot company philosophy has kept them in in the "game" and has always made them a major "player" when it comes to mergers and acquistions. Unfortunately this is in direct contrast with a plan that will support well staffed truck stops with full service restaurants and the "bells and whistles" that are cost prohibitve under their model. Yet you would think this might be a good customer service draw, and offer the "creature comforts" our indusrty desires.
Brownie
Pilot is buying FlyingJ
FLYING J AND PILOT ANNOUNCE PRELIMINARY MERGER AGREEMENT
Pilot Enters into Interim Financing Arrangement with Flying J
Agreement Supports Flying J's Continued Operations and Emergence from Bankruptcy
OGDEN, UT and KNOXVILLE, TN – July 14, 2009 – Flying J Inc. ("Flying J") and Pilot Travel Centers LLC ("Pilot") today announced that they have entered into a preliminary merger agreement that will provide a framework for Flying J's core travel plaza business to emerge from Chapter 11 bankruptcy protection. Under the terms of the Letter of Intent filed today with the U.S. Bankruptcy Court in Delaware, the value indicated would allow all Flying J creditor obligations to be paid in full. Pilot has also agreed to provide $100 million in Debtor-in-Possession financing for Flying J's operations, subject to court approval and various conditions.
"After a careful and exhaustive review of the alternatives available, we have concluded that a merger with Pilot represents the best possible outcome for Flying J, our creditors, our customers, and our employees," said Crystal Call Maggelet, Chairman of the Board of Flying J. "Over the next few months, we will negotiate definitive agreements to merge our companies. This transaction will allow us to emerge from the bankruptcy process relatively quickly thereafter and to start a new chapter in the Flying J story."
Jimmy Haslam, CEO of Pilot, said, "We believe that by combining Flying J and Pilot we will better serve our customers by more efficiently providing them with the products and services they need. We look forward to working closely with Flying J and its employees during the Chapter 11 emergence process, and as we take the next steps of a new beginning for both of our companies."
The preliminary merger agreement with Pilot pertains specifically to Flying J's core travel plaza business, and it excludes Longhorn Pipeline, Big West Oil, Flying J Oil & Gas, Hay**** Petroleum, and Transportation Alliance Bank. Flying J is in the process of pursuing or evaluating alternatives for each of these other businesses.
Flying J filed for Chapter 11 protections on December 22, 2008, after a precipitous drop in oil prices and disruption in the credit markets brought to bear significant short-term pressure on the company's liquidity position.
Flying J's legal advisor is Kirkland & Ellis LLP and its financial advisor is The Blackstone Group L.P. Pilot's legal advisor is White & Case LLP.
About Flying J
Based in Ogden, Utah, Flying J Inc. is among the 20 largest private companies in America, with 2007 sales exceeding $16 billion. This fully integrated oil company employs approximately 14,700 people in the U.S. and Canada through its interstate operations, transportation, refining and supply, exploration and production, as well as its financial services and communications, divisions.
About Pilot
Pilot Travel Centers LLC is the nation's largest retail operator of Travel Centers, catering to the professional driver and traveling motorist in 41 states with over 300 retail interstate properties. The company is headquartered in Knoxville, Tennessee, employs 13,000 nation-wide and is held in a partnership between Pilot Corporation, wholly owned by the Haslam family, and Propeller Corporation, wholly owned by the funds advised by CVC Capital Partners, a leading global private equity firm.
Press Contacts:
FOR FLYING J
Kekst and Company
Peter Hill
212-521-4800
[email protected]
FOR PILOT
Moxley Carmichael
Cynthia Moxley
865-544-0088
[email protected]
FLYING J AND PILOT ANNOUNCE PRELIMINARY MERGER AGREEMENT
Pilot Enters into Interim Financing Arrangement with Flying J
Agreement Supports Flying J's Continued Operations and Emergence from Bankruptcy
OGDEN, UT and KNOXVILLE, TN – July 14, 2009 – Flying J Inc. ("Flying J") and Pilot Travel Centers LLC ("Pilot") today announced that they have entered into a preliminary merger agreement that will provide a framework for Flying J's core travel plaza business to emerge from Chapter 11 bankruptcy protection. Under the terms of the Letter of Intent filed today with the U.S. Bankruptcy Court in Delaware, the value indicated would allow all Flying J creditor obligations to be paid in full. Pilot has also agreed to provide $100 million in Debtor-in-Possession financing for Flying J's operations, subject to court approval and various conditions.
"After a careful and exhaustive review of the alternatives available, we have concluded that a merger with Pilot represents the best possible outcome for Flying J, our creditors, our customers, and our employees," said Crystal Call Maggelet, Chairman of the Board of Flying J. "Over the next few months, we will negotiate definitive agreements to merge our companies. This transaction will allow us to emerge from the bankruptcy process relatively quickly thereafter and to start a new chapter in the Flying J story."
Jimmy Haslam, CEO of Pilot, said, "We believe that by combining Flying J and Pilot we will better serve our customers by more efficiently providing them with the products and services they need. We look forward to working closely with Flying J and its employees during the Chapter 11 emergence process, and as we take the next steps of a new beginning for both of our companies."
The preliminary merger agreement with Pilot pertains specifically to Flying J's core travel plaza business, and it excludes Longhorn Pipeline, Big West Oil, Flying J Oil & Gas, Hay**** Petroleum, and Transportation Alliance Bank. Flying J is in the process of pursuing or evaluating alternatives for each of these other businesses.
Flying J filed for Chapter 11 protections on December 22, 2008, after a precipitous drop in oil prices and disruption in the credit markets brought to bear significant short-term pressure on the company's liquidity position.
Flying J's legal advisor is Kirkland & Ellis LLP and its financial advisor is The Blackstone Group L.P. Pilot's legal advisor is White & Case LLP.
About Flying J
Based in Ogden, Utah, Flying J Inc. is among the 20 largest private companies in America, with 2007 sales exceeding $16 billion. This fully integrated oil company employs approximately 14,700 people in the U.S. and Canada through its interstate operations, transportation, refining and supply, exploration and production, as well as its financial services and communications, divisions.
About Pilot
Pilot Travel Centers LLC is the nation's largest retail operator of Travel Centers, catering to the professional driver and traveling motorist in 41 states with over 300 retail interstate properties. The company is headquartered in Knoxville, Tennessee, employs 13,000 nation-wide and is held in a partnership between Pilot Corporation, wholly owned by the Haslam family, and Propeller Corporation, wholly owned by the funds advised by CVC Capital Partners, a leading global private equity firm.
Press Contacts:
FOR FLYING J
Kekst and Company
Peter Hill
212-521-4800
[email protected]
FOR PILOT
Moxley Carmichael
Cynthia Moxley
865-544-0088
[email protected]
As far as fuel pricing goes in many areas Love's stays lower than most Pilots . The cluster Pilots at exit 175 on I-75 in Walton , KY no longer have the lowest priced fuel if you travel on I-71 toward Louisville . The Love's at exit 55 is lower priced than the Pilots most of the time . If you head up I-75 into OH th Love's in N. Baltimore is usually lower than Pilots