On June 3, 2010 Flying J announced it now accepts Comdata at all of its more then 250 locations across the US and Canada. Flying J's TCH-branded fleet cards will be accepted at all of Comdata's point-of-sale devices, and Comdata cards and Comchecks will be accepted and processed through the Flying J's point-of-sale devices.
The settlement came in exchange for a $49 million payment to Flying J from Comdata, and Comdata not having to admit to any wrongdoing in the long, drawn out legal battle between Flying J and Comdata (which more than one judge spanked Comdata so many times that they started to like it).
Unless something unexpected suddenly arises, Flying J should emerge from bankruptcy by July 31. The company will emerge and much smaller company than the one that found them in the Top 20 Private Companies as noted by Forbes, but they will emerge debt-free.
Flying J's Bakersfield, Calif., refinery, which supplies 6 percent of California's diesel and 2 percent of its gasoline, was sold Monday to Paramount Petroleum Corp., a subsidiary of Alon USA Energy, for $40 million, plus the value of the plant's inventory. Back in July, Flying J sold its Longhorn Partners Pipeline subsidiary to Magellan Midstream Partners for $250 million plus the value of petroleum products in the subsidiary's 700-mile conduit running between the Houston area and El Paso, Texas.
But also gone is Flying J Insurance Services, which sells policies to drivers and trucking companies. The subsidiary was sold in November to The Buckner Co., a Salt Lake City-based insurance brokerage firm.
On Friday they put the North Salt Lake refinery up for sale, but then pulled it back, deciding to keep it.
It will also retain Transportation Alliance Bank, which provides financial services to truck drivers and companies, Transportation Clearing House, a credit card operation and an equity stake in the merged Pilot-Flying J travel center business.
Flying J CEO Crystal Call Maggelet declined to say how much of the travel center business Flying J will continue to own. "That's still being worked out," she said. [which means almost none of it]
Flying J's Web site has been updated with a new Comdata banner, and the press release announcing the change can be found there, too, under Company/Press Releases.
The settlement came in exchange for a $49 million payment to Flying J from Comdata, and Comdata not having to admit to any wrongdoing in the long, drawn out legal battle between Flying J and Comdata (which more than one judge spanked Comdata so many times that they started to like it).
Unless something unexpected suddenly arises, Flying J should emerge from bankruptcy by July 31. The company will emerge and much smaller company than the one that found them in the Top 20 Private Companies as noted by Forbes, but they will emerge debt-free.
Flying J's Bakersfield, Calif., refinery, which supplies 6 percent of California's diesel and 2 percent of its gasoline, was sold Monday to Paramount Petroleum Corp., a subsidiary of Alon USA Energy, for $40 million, plus the value of the plant's inventory. Back in July, Flying J sold its Longhorn Partners Pipeline subsidiary to Magellan Midstream Partners for $250 million plus the value of petroleum products in the subsidiary's 700-mile conduit running between the Houston area and El Paso, Texas.
But also gone is Flying J Insurance Services, which sells policies to drivers and trucking companies. The subsidiary was sold in November to The Buckner Co., a Salt Lake City-based insurance brokerage firm.
On Friday they put the North Salt Lake refinery up for sale, but then pulled it back, deciding to keep it.
It will also retain Transportation Alliance Bank, which provides financial services to truck drivers and companies, Transportation Clearing House, a credit card operation and an equity stake in the merged Pilot-Flying J travel center business.
Flying J CEO Crystal Call Maggelet declined to say how much of the travel center business Flying J will continue to own. "That's still being worked out," she said. [which means almost none of it]
Flying J's Web site has been updated with a new Comdata banner, and the press release announcing the change can be found there, too, under Company/Press Releases.
