Would it be smart to let one carrier get so deep in your pocket their failure could doom you. The old saying about all your eggs in one basket came about from ecperience.
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LandShark is out of business.....
- Thread starter lugnut1
- Start date
Would it be smart to let one carrier get so deep in your pocket their failure could doom you. The old saying about all your eggs in one basket came about from ecperience.
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BigCat
Expert Expediter
True and it's the same as these other carriers taking our sloppy seconds. If you rely strictly on what we refuse your not going to do well because typically they aren't profitable or we would take them.
Get your own customers that way if a company you pull from goes out you do not go with them. Pulling from load board is fine but if they go you will too.
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Get your own customers that way if a company you pull from goes out you do not go with them. Pulling from load board is fine but if they go you will too.
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The new company will be called "Landjack" which means that they will land the freight for your truck and then jack the profits! I thought that the owner of Landshark used to be one of the owners at Arrow Critical Supply Chain Solutions? I think that company also has a bad reputation for not paying outside carriers on time as well as paying their drivers lowball rates. All I know if I hate getting calles from thjem about my posted trucks because I don't like to have to ask for a comcheck to be able to move the load!
lugnut1
Seasoned Expediter
And your statement would imply multiple carriers/customers IS the better business model.
The end result from Landshark closing is there is risk everywhere and no single investment plan can survive all risk aspects you may endure to reach your level of desired success. Well, there is one plan, unlimited capital.
When looking at the smaller unknown carriers, one almost has to look at them with expecting 80 percent of the line haul. If it is the same or lower than other carriers, then the question becomes, why take a higher risk for the same money as a known entity?
At the end of the day, no company is a guaranteed lock in the current economic climate.
What to take from that? Include in your business to have a ongoing exit strategy. That would apply to a single operator all the way to the fleets.
What you see in a company now may be totally different 12 months from now.
At the end of the day, no company is a guaranteed lock in the current economic climate.
What to take from that? Include in your business to have a ongoing exit strategy. That would apply to a single operator all the way to the fleets.
What you see in a company now may be totally different 12 months from now.
CharlesD
Expert Expediter
Update your sharing rules so they can't see your posted trucks. Takes care of that problem real quick.
I was not implying that. I was speaking from the point of a carrier letting another carrier they sub with run the bill so high you go out of business if they default.
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I think an owner operator should do their homework before they sign on or extend credit to a carrier. How long have they been in business? Do they have any assets? Credit rating? Do they factor? These are all questions that any business person should ask before taking on risk. Arrow may have closed their doors, but the company had financial problems for quite a while and it should not have been a total surprise to anyone who was keeping their eyes open.
As well an owner operator should look at things like safety rating, CSA scores, and insurance and authority history. These are all good windows in too a company. IMHO.
As well an owner operator should look at things like safety rating, CSA scores, and insurance and authority history. These are all good windows in too a company. IMHO.
To answer the post on the same owner. The answer is no. Arrow critical (acss) is owned by the cohen family and has been for many years. They were a local nyc and n. East courier doing GE. And medical freight. Then got into expedite in 2008. By 2009 hired a op. Mgr. From buchannon freight who started a truckload and flatbed division and eventually tanked the flatbed, truckload and expedite operations. Have no idea what acss is doing now.
As a result of being passed over the dispatch mgr at arrow left and went into business and was the op. Mgr at landshark. He owned a small part but primary ownership was by a friend of his and his friends father and a few of their business associates. They own a very successfully limousine / valet and booking agency. They basically set up fuctions at venues. Provide limo service to the functions and valet parking.
I am not aware that this particular guy ever had another trucking business. He was hired away from central freight by arrow. He was a dispatch mgr at central then arrow then landshark. What he is doing now I have not heard. Wouldn't suprise me if he doesn't resurface.
John Clark, what name did you have, a co. Name or a personal name. I know the personal names that were associated with them.
Anyways, theres the info on who owned what and how landshark got started.
As a result of being passed over the dispatch mgr at arrow left and went into business and was the op. Mgr at landshark. He owned a small part but primary ownership was by a friend of his and his friends father and a few of their business associates. They own a very successfully limousine / valet and booking agency. They basically set up fuctions at venues. Provide limo service to the functions and valet parking.
I am not aware that this particular guy ever had another trucking business. He was hired away from central freight by arrow. He was a dispatch mgr at central then arrow then landshark. What he is doing now I have not heard. Wouldn't suprise me if he doesn't resurface.
John Clark, what name did you have, a co. Name or a personal name. I know the personal names that were associated with them.
Anyways, theres the info on who owned what and how landshark got started.
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I come from an old school family. We get what is owed to us.....
paullud
Veteran Expediter
I don't live that far away from them and I have a lot of family down there if they prefer to hand a check directly to a person.
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CharlesD
Expert Expediter
I did that last year. Just showed up at their office on Long Island. Walked out with a check pretty fast too.
Is that why you recruited and signed Guido on with Load One?
shadow7663
Expert Expediter
Don't forget we also have Uncle Vinnie :yikes:
turritrans
Expert Expediter
What's wrong with uncle Vinnie?