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Express 1 Buyout

Hyperdrive

Hyperdrive

Seasoned Expediter
Owner/Operator
An announcement this morning that Bradley Jacobs is buying the majority interest in Express 1 for an investment of 150 million.
He will become the CEO and Chairman of the Board of Directors.

Jacobs says he plans on making Express 1a multi billion dollar transportaion company.

Maybe they will need a few new trucks.:D
 
davekc

davekc

Senior Moderator
Staff member
Fleet Owner
I think it was a smart move on their part. They have just about squeezed all they could out of the o/o's with bargain rates. I think I would look to dump it as well while it still has a value.
 
paullud

paullud

Veteran Expediter
The question on my mind is does he make it a multi billion dollar company at .50/mile for vans and .75/mile for straights.

Posted with my Droid EO Forum App
 
davekc

davekc

Senior Moderator
Staff member
Fleet Owner
paullud said:
The question on my mind is does he make it a multi billion dollar company at .50/mile for vans and .75/mile for straights.

Posted with my Droid EO Forum App
Click to expand...

Look for a new recruiting station in Laredo.
 
westmicher

westmicher

Veteran Expediter
Oh boy! Just when things seemed to be working pretty well. Dang! Fasten your seatbelts, here come the new ideas! :eek:
 
Hyperdrive

Hyperdrive

Seasoned Expediter
Owner/Operator
The 150 million equals the companys last years gross income. They are going to have to buyout a lot of smaller players.
 
Falligator

Falligator

Expert Expediter
Just a little worried about what changes they will be making in the future.

Posted with my Droid EO Forum App
 
davekc

davekc

Senior Moderator
Staff member
Fleet Owner
jujubeans said:
I'm not too surprised...
Click to expand...

That is why you didn't get your "dime" back. Rates never really dropped, just what they paid the owner operators. Have to look good on paper if you are trying to sell it. I guess you can take comfort in the fact you help facilitate a sale.
 
paullud

paullud

Veteran Expediter
Jack_Berry said:
Never moved anthing for 50 cents. Nice rumor.
Click to expand...

It is not a rumor, it is a question of how he plans to make it a multi billion dollar company which looking at companies that are that big ie Walmart or McDonald's they are wealthy but didn't get that way paying suppliers or workers well.

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OntarioVanMan

OntarioVanMan

Retired Expediter
Owner/Operator
He never said ya ran .50 freight...just saying what the future may hold...

yep..the whole pay scale is pro company....nothing for the operator...
 
Hyperdrive

Hyperdrive

Seasoned Expediter
Owner/Operator
Is this a coincidence that the Express-1 buyout coincides with the US government opening up the border by the end of the month? Now the trips that the Express-1 Recruiters have been making to Laredo are making more sense. I bet we will see a new Express -1 recruiting office open up across the border in Mexico.
 
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paullud

paullud

Veteran Expediter
Jack_Berry said:
....and no proof the rates are going down. once again nice rumor. totally unsubstantiated.
Click to expand...

Rumor noun 1. unconfirmed but widely repeated story

I never said I heard this is his intention I said it was a question I had about the future of the company and how he intends to make it such a huge corporation.

Posted with my Droid EO Forum App
 
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