Oilerman1957
Expert Expediter
Were you being kind Jefferson? hehe
All state express
- Thread starter SAS
- Start date
guido4475
Not a Member
Isn't this a question that should of been asked in private?I mean, there are some things you just dont ask a person in front of a crowd, right?
guido4475
Not a Member
If I have to pay for a fax, they reimburse the fee to me, as long as I throw the receipt in the company-paid trip-pack envelope.
I think the reason for this is there was a problem with drivers in the past collecting bol's and not turning them in in a timely manner, thus the $20.00 charge.
Oilerman1957
Expert Expediter
guido,
If you read his comments he said bring on the negative comments so he can improve the company, so i did
Jefferson3000
Expert Expediter
I wouldn't hold your breath while waiting for a response.
You wouldn't ask someone about the out of wedlock pregnancy of their 16 year old daughter in front of a crowd, but this is fair game.
Jefferson3000
Expert Expediter
Sure is. It's about getting the whole story, when you're an owner operator and looking for a financially sound company to deal with. Some companies look all fine and dandy, with the largest booths and displays at the Expo. Then you find out that there's more than meets the eye.
Oilerman1957
Expert Expediter
well, its only been a week, maybe he will step up.
You can bet this entire thread has been read.
Jefferson3000
Expert Expediter
Oh yeah it has. We're not the only ones to add them to a "do not haul" list. There are a few others (even on this forum) who are dealing with the same issues. But no one need believe me. A bit of digging and they can find out for themselves.
I just wanted to say that often the President of a company won't necessarily know specifics of the day-to-day accounting of his company. I'm not sure how large ASE is, or how many employees. Often the payables department will do their own thing in determining who to pay first, etc, based on experience, cash flow, and other considerations which they are aware of. This thread could potentially have opened up a can of worms to the President, which he was previously unaware of.
Interesting because somebody has to foot the bill for the payment of immediate costs of running freight. If not the company, it falls upon the independent/driver, who can least afford it. Part of the cost of doing business is to make sure vendors can be paid, either by paying factoring fees or interest on a huge operating line of credit. If there isn't enough money being generated to take care of that, obviously some tough cost-cutting and pricing decisions need to be made before it's too late.
In the end it all catches up. The carriers bidding too low so they can get more freight, and the carriers enjoying higher profit now by not spending the bucks to take care of their vendors will ultimately pay the price, probably not until they've taken out a few smaller guys in the interim.
Interesting because somebody has to foot the bill for the payment of immediate costs of running freight. If not the company, it falls upon the independent/driver, who can least afford it. Part of the cost of doing business is to make sure vendors can be paid, either by paying factoring fees or interest on a huge operating line of credit. If there isn't enough money being generated to take care of that, obviously some tough cost-cutting and pricing decisions need to be made before it's too late.
In the end it all catches up. The carriers bidding too low so they can get more freight, and the carriers enjoying higher profit now by not spending the bucks to take care of their vendors will ultimately pay the price, probably not until they've taken out a few smaller guys in the interim.
I would agree with Pjjjj if this was a large company. In this case, ASE isn't anywhere close to a sizable company.
D & B shows them with 22 employees and 9M in revenue.
That is their reporting numbers but not always accurate to date. Even if you doubled both, still small enough that the president should know what their payables consist of.
D & B shows them with 22 employees and 9M in revenue.
That is their reporting numbers but not always accurate to date. Even if you doubled both, still small enough that the president should know what their payables consist of.
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A small company the owner has his hands in every aspect. A large company you have a controller or CFO that keeps you updated daily as to things like accounts payable, accounts receivables, and cash flows. It really does not matter what size your company is, 1 truck or a 1000, if you do not have control in these areas YOU WILL FAIL!
SAS
Expert Expediter
Addressing the comments on factoring and the irresponsible blabbering of slow paying, first, ASE has never nor has it needed a factoring company. ASE is a financially sound entity, that is growing very well, and has one of the healthiest credit scores in the industry. Two, ASE has survived one of the worst economic crisis of our lifetime, as did many of its competitors. None of us could have of done that without some kind of financial security and having those partner carriers that supported us heavily. Three, during the economic downturn, as did many industries abroad, there were bank failures big and small and their customers were heavily affected with credit lines being eliminated and/or called in, this was done merely to enhance the banks balance sheets and free up their cash position. Many transportation companies were practicing slower pay terms, many manufacturers and logistics providers practiced this as well, cash was king. Many carriers, ASE and its competitors experienced our terms that we were paid, extended from 30 to 90+ days. ASE did move from an extremely large bank that was one of the culprits in the cause of the greatest economic turbulence of our time. During such, if small carriers were affected by a slow down in their receivables during this transition, my deepest apologies. ASE pay terms are based off of invoice received and proper documentation. ASE's payment terms are normal of the industry standards and ASE's financial situation is that of strength allowing it to explore a possible quick pay program for carriers seeking a better way of factoring their invoices. Many carriers whom were affected by a decrease in payment terms, relied heavily on factoring companies that would charge them back if any term extended beyond the contracted set terms between them and factoring provider. As the President of ASE, I invite any person wishing to discuss further, the contents of this blog as well the previous comments made.
If ASE didn't act as a good corporate citizen, it would not be in business today and have the support of many partner carriers, big and small. ASE is proud to have made it to the other side of this financial crisis and we congratulate all competitors, fleet owners and independent O/O's, that have done the same.
We are Growing Forward.
If ASE didn't act as a good corporate citizen, it would not be in business today and have the support of many partner carriers, big and small. ASE is proud to have made it to the other side of this financial crisis and we congratulate all competitors, fleet owners and independent O/O's, that have done the same.
We are Growing Forward.
Hold on there Padre.
You have me totally confused. You first say there are "irresponsible blabbering of slow paying loads" then proceed to tell us you went from a 30 day pay to 90 day pay.
I would consider that SLOW PAY.
I believe the factoring companies they are talking about are ones they are using for their receivables. Not whether ASE does or doesn't use them. Many independents can't float large outstanding revenue for 90 plus days.
Many can sympathize, but few have an interest in excuses as to why payments schedules changed. Some indicate they are still waiting just to get a hold of someone. Maybe you could PM those individual members that posted privately to address their concerns.
As a fleet owner, I can't imagine any of our teams having a interest in me delaying their pay for a extended period of time whether someone else is doing it or not. Keep in mind that many of these partner carriers are one truck operations and can ill afford to have their revenue delayed.
Glad you are moving forward after a tough year. Hopefully this is a much better one for you.
You have me totally confused. You first say there are "irresponsible blabbering of slow paying loads" then proceed to tell us you went from a 30 day pay to 90 day pay.
I would consider that SLOW PAY.
I believe the factoring companies they are talking about are ones they are using for their receivables. Not whether ASE does or doesn't use them. Many independents can't float large outstanding revenue for 90 plus days.
Many can sympathize, but few have an interest in excuses as to why payments schedules changed. Some indicate they are still waiting just to get a hold of someone. Maybe you could PM those individual members that posted privately to address their concerns.
As a fleet owner, I can't imagine any of our teams having a interest in me delaying their pay for a extended period of time whether someone else is doing it or not. Keep in mind that many of these partner carriers are one truck operations and can ill afford to have their revenue delayed.
Glad you are moving forward after a tough year. Hopefully this is a much better one for you.
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davekc said:
What I'm talking about is that if ASE or any other carrier cannot afford to pay their partner carriers, the ones paying the actual immediate expenses of carrying the loads, in a timely manner with their own cash flows, perhaps they SHOULD have paid for factoring services. You may find it insulting to think of your company needing factoring services, but if you cannot pay the small independent with your company's own funds 30 days after he fronts his own money, then I'm sorry about your offended feelings, but that is the reality.
Perhaps then, the small partner carriers would NOT have to spend THEIR funds on factoring fees. Like I said, SOMEONE has to foot the bill for paying the IMMEDIATE expenses incurred on delivering shipments. Seems the ones actually putting out the cash for the fuel, tolls, licensing, insurance, repairs and everything else, are also the ones stuck with waiting 90+ days to get reimbursed, or alternatively, paying the high cost of factoring. Can you imagine if your company had to pay the actual immediate costs of running HOW many loads over the course of NINETY days, before seeing any money coming in? It's one thing to get a call, book a load, find a partner to run it for you, wait 90 days to get paid, and then pay your partner, and it's quite another thing to be the one paying out of pocket for 90 days worth of loads before seeing a penny back.
That's great, glad to hear that. You would hope that as such, you would be in the position of paying your partners in 30 days. Since you do NOT however, partners are left with looking for ways to float their OWN businesses, and yet, factoring companies are refusing to take your BOLs. Pretty strange, if you're boasting one of the healthiest credit scores in the industry.
Once again, glad to hear that. Congratulations on your success! Alas many of your partners have not been so fortunate.
I believe davekc, that he is saying that HIS payables went from 30 to 90 days.
In any case, I do not mean to bash anyone here, but if you're the president of a company who is not taking care of its partners, and you choose to put yourself out on the line here in a free and open forum, it's probably best if you can answer to the comments you will inevitably get. Probably even better if you can do so without taking a defensive and excuse-making stand.
titantrucker
Seasoned Expediter
Mr. Squier
I do believe you sidestepped the issue sir or maybe you need to sharpen your reading comprehension skills.
I do believe you sidestepped the issue sir or maybe you need to sharpen your reading comprehension skills.
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I thought we business people were supposed to have a cash reserve of some kind?
Especially you independents? We are NOT talking every load here...How many would one do for ASE over a 90 day period?
30 years ago 90 day billing was the norm..If an independent can't hold 1 or 2 invoices for 90 days for maybe a couple G's at most maybe THEY are the ones who should not be in the business?
Besides ASE has done nothing illegal...just because you can't afford to hold an invoice for 90 days is YOUR problem...you lose the load opportunity because you don't have the proper reserves.
And after the initial 90 days, money will be coming in every 30 days after that...
Especially you independents? We are NOT talking every load here...How many would one do for ASE over a 90 day period?
30 years ago 90 day billing was the norm..If an independent can't hold 1 or 2 invoices for 90 days for maybe a couple G's at most maybe THEY are the ones who should not be in the business?
Besides ASE has done nothing illegal...just because you can't afford to hold an invoice for 90 days is YOUR problem...you lose the load opportunity because you don't have the proper reserves.
And after the initial 90 days, money will be coming in every 30 days after that...
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Actually, the whole industry experienced a slowdown in cash flow. Bottom line is, no matter what the pay period may be.....if you keep the pipeline full....there will ALWAYS be something comming out, each day,...regardless!! All the blabbing on here about having SIX months in the bank when in this business seems to have gone unheeded by many. IF you can't stand the heat, git outa the kitchen. I for one, would rather carry someone for a while, than have them beat me out of it. Sorry OVM, we were typing at the same time, sharing the same crap.
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Thats ok Col...I kept adding to mine..
Some have a weird expectation of how business should be run..
You'd think a REAL businessman would have a floats to get over this type of situation and still do business, as you said keep the pipeline full....obviously they themselves are running on a skinny line...
Col..we'd make a tough business partnership....*LOL*
Some have a weird expectation of how business should be run..
You'd think a REAL businessman would have a floats to get over this type of situation and still do business, as you said keep the pipeline full....obviously they themselves are running on a skinny line...
Col..we'd make a tough business partnership....*LOL*