The random news thread.

Dno69

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I like how there are websites for when people misspell the name of a bigger website.

Like if you're trying to type ESPN.com but accidentally type in RSPN.com.
 

Kerosene31

What happened to the American Dream? It came true.
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Sep 12, 2013
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Cannonball run record broken (along with a bunch of traffic laws) 8-) Unfortunately no Sammy Davis Jr in a red Ferrari or Farah Fawcett in an ambulance.

 
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Videodrome

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Cannonball run record broken (along with a bunch of traffic laws) 8-) Unfortunately no Sammy Davis Jr in a red Ferrari or Farah Fawcett in an ambulance.

I've sometimes wondered how well a custom fuel tanker would do. Semi-Trucks are capable of high speed, they're just held back by speed governors.

It would be to dangerous to go 100mph, but what if it could draw from the tank and never stop? 2 Drivers could take turns driving or sleeping in the back.
 

Videodrome

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Not sure if this should go here or the Economy Thread. Actually, it looks like Celadon's story is partly about the economy, but also fraud. I'm not sure if they were cooking the books to keep the company going or for personal gain or both.

Celadon is one of the shady entry level train companies and I've heard drivers call them Sell A Con.

This is a very awkward situation once again though for drivers who may face being stranded by shutoff fuel cars and being in trucks with an inactive DOT# authority.

More at link:



Celadon, biggest bankruptcy in truckload history expected by mid-week:


Short seller’s report calling the company “A House of Cards” in April 2017 foretold what was to become of one of the largest truckload carriers


Celadon Group (OTC: CGIP) will file for bankruptcy protection under Chapter 11 no later than Wednesday, December 11, according to internal sources. The Indianapolis-based, publicly-traded trucking carrier employed more than 3,200 drivers and took in more than $1 billion in gross revenue as recently as 2015.

More recent numbers are difficult to come by because Celadon had to restate its financial reporting after mismanagement and a complex accounting scandal that ultimately resulted in former executives being indicted on securities fraud charges yesterday, December 5.

But the imminent bankruptcy’s immediate cause was a technical default on Celadon’s covenants, the agreements between borrowers and lenders that can define requirements for cash reserves and earnings. Celadon entered the week with scant cash in its accounts to continue operations, but was negotiating with creditors Luminis and Blue Torch to secure further financing. Those talks fell through Thursday morning, December 4, when talks between Blue Torch and Luminis broke down over collateral issues. Blue Torch owned 70% of the debt and Luminus owned 30%.

Over-the-road drivers may be at risk of being stranded — our source could not verify that Celadon’s drivers would get home — and should fill their tanks at the earliest opportunity as the company’s fuel cards still work. Celadon’s 3,500 employees could lose their jobs soon.





Celadon will be the largest truckload carrier to file bankruptcy in history. The north-south truckload carrier has 2,695 trucks, including 2,000 in the United States, 360 in Canada, and 335 in Mexico. The company is a dominant carrier on the I-35 corridor, running freight from Laredo to the Midwest, with a large concentration in the automotive sector.

The company’s bankruptcy and likely shutdown will result in some capacity exiting the market at a time when the truckload market is struggling from over capacity. Large enterprise carriers running similar networks to Celadon will find new lane opportunities and a pool of high quality drivers. CFI, part of Transforce (TSX: TFII), is Celadon’s largest north-south competitor. PAM (NASDAQ:pTSI) is also likely to benefit, having deep exposure to the automotive sector and a large cross-border presence. Third-party logistics providers specializing in cross-border freight like Forager Logistics should also benefit from a sudden removal of NAFTA capacity.




 

Videodrome

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North Carolina you are losing your sh't.

This is the scene I mentioned in Random Thoughts I drove by this morning.

The guy had an accident then took all this clothes off. Me and several drivers passing by while this weird mofo is laying down in the street.

The article says there were mutliple cases to.

This craziness makes me want to get off the road before Friday the 13th.

 

Dno69

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Just from looking at the guys face, I’m going to assume meth was involved in his decision to go nude.
 

Videodrome

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So I moved to near Mobile, AL and have mixed feelings about the city. I'm actually on the Eastern Shore across the bay from there.

I regularly see many crime stories on the local news that are absolutely insane. I think the core of downtown Mobile is a nice safe district, but the outlier townships are like a Mad Max zone. I try to keep this in mind when looking for local jobs, because I never want to deal with these neighborhoods.


 
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Swede

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This virus isn't effective at the much needed culling of the human population.... mostly killing old people. I've been talking about a plague hitting us to remedy our rape of this planet, but this just shows us how horrible people are... waiting for the inevitable looting and raping, just like when that hurricane hit amerika.
 

Plainview

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This virus isn't effective at the much needed culling of the human population.... mostly killing old people. I've been talking about a plague hitting us to remedy our rape of this planet, but this just shows us how horrible people are... waiting for the inevitable looting and raping, just like when that hurricane hit amerika.
The "Boomer Doomer."
 
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