In The News

Arrow CEO says talks continue

Arrow Trucking Co., which abruptly closed Dec. 22, is negotiating with a lender and other interested parties, according to a report from its hometown newspaper.

The Tulsa World reports that CEO Doug Pielsticker released a statement saying the company continues "negotiations with its principal lender, but the lender has elected to proceed with securing its collateral." Pielsticker also reportedly says Arrow also is in touch "with several interested parties."

The company’s website, www.arrowtrucking.com, is no longer operational, and the headquarters in Tulsa, Okla., could not be reached for a response by telephone.

The shutdown, which included cancellation of its fuel cards, stranded its company drivers across the country three days before Christmas, news sources said.

The Tulsa World reports that one of Arrow's lenders is Daimler Financial Services, which owns the company's Freightliner trucks.

A telephone recording at the main office gives these instructions to drivers:

“If you’re in a Freightliner or KW, please take the truck to the nearest Freightliner shop. Call this hotline number to Daimler: 877-294-9679. They’ll arrange for a bus ticket for you home. If you’re in an International, please call back and check with this message later as we find out more information.”

No. 83 in Commercial Carrier Journal’s Top 250 ranking of U.S. for-hire carriers, Arrow Trucking reported revenue of $218 million in 2008, down 7.2 percent from 2007. The company most recently reported 1,250 owned and 100 leased trucks and tractors, as well as 2,287 leased trailers.

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