Consolidated Freight Bankruptcy; What does it mean?

Consolidated Freight Bankruptcy-What does it mean?

Research-Transportation Sector

What does the Consolidated Freight Bankruptcy really mean to you and I? Well; Consolidated Freightways operated one of the world’s largest less-than-truck-load (LTL) transportation networks. The company’s highly skilled 20,000 professionals specialize in long haul freight transportation throughout North America. Many businesses use to ship with CF. This was because of Consolidated Freights vast network of 350 terminals and more than 30,000 over-the-road vehicles, which served virtually every market in the U.S., Canada and Mexico. Shipments typically move between 500 and 3,000 miles and weigh between 300 and 15,000 pounds.

Consolidated Freight’s core markets were concentrated in North America and include integrated trucking capabilities to and within Canada, Mexico, Alaska, Hawaii, Puerto Rico and the Caribbean. In Canada, CF offers intra-Canadian and inter-Canadian long-haul trucking services with seamless border crossings into both the U.S. and Mexico. This also means that aliens and non resident truck driver working for foreign companies will pick up more slack causing more of a security risk and greater costs on cars, parts, furniture, etc to the common man and drive up the CPI a tad bit, also it means more non-safe trucks on the road which could run over and kill your or a family member or friend.

In Mexico, Transports CF Alfri-Loder, commonly known, as “CF Mexico” is Mexico’s largest and most extensive LTL network. CF Mexico serves both intra-Mexico and inter-Mexico clients without hand-offs or transfers at the U.S.-Mexico border. CF Primary Services included: Long haul (LTL). CF specializes in 2-5 day long haul freight transportation throughout North America, primetime. When freight needs to be expedited for instance a tradeshow; each tradeshow client has a unique blend of transportation requirements. Tradeshow freight was CF’s highly managed custom service that combined LTL and Primetime Air services and of course various Value-added Options. CF services and deliveries came with an array of value-added options: CF was a leader and a pioneer in the LTL business for over 70 years. With that experience comes the confidence to offer a 100% money-back guarantee on their Time-Definite Expedited Service; “Just tell us when and where” slogan. CF’s dedicated employees went the extra mile for time-sensitive shipments. CF also had provided Emergency Services: like, Rescue and recovery from other carriers and Dynamic rerouting which serves large companies well who need expedited services. There reliability was near 99% and they had non-stop sleeper expedite teams to run 24-7 who are now out of work these people can easily find jobs with the other heavies such as JB Hunt, Swift, Covenant or Schneider trucking companies. But the line haulers and day deliveries had home a night for wife and kids jobs, which are not easily replaced and may cause those drivers who lost their job to take an over the road truck job causing latch key kids and problems with juvenile delinquency.

Many companies now have former truck drivers their star employees with the CF bankruptcy we has an additional 15,500 people are instantly out of work. The Union can find some jobs because truck drivers are in demand, except expect more slowing of the economy in some sectors due to increased fuel consumption and other LTLs to bite the dust; I am not nearly as bullish on Yellow Freight as I was a year ago. Yet their CEO is making the Wall Street TV circuit trying to convince investors that they are still in the game and that the merger with roadway was a success. Although that is also what HP had said with their Compaq Merger and we all know the reality of that.

Who wins with CF out of business? Well not necessarily anyone, even the customer or shipping consumer has less choices? Fed Ex Ground and other non-union carriers, will pick up the slack and for the most part already have. CF is leaving Vancouver WA, HQ and that property was secured by a 225 million dollar loan from GE Capital and office space and industrial space in that city with the highest unemployment rate in the country is not very good, certainly they are in no real-estate bubble there with other lay offs last year from Fishing, Timber, trucking and steel industries. It is a sad state of affairs, while Vancouver WA cannot see a recovery to economic prosperity anytime soon. CF had a great motto, which we had adapted early on in our company nearly 8 years prior. Anything, Anytime, Anywhere and we added to that list for anybody. So we were firm believers in CF and their early vision, history and commitment.

With CF’s Special Service solutions in transportation they were on the leading edge of the B2B craze of just in time, and with their purchase of Emery Express they had things going well. That was to be just the beginning for CF. From unpacking and installing computers, to crating a grand piano, to coordinating the movement of your entire manufacturing plant, CF delivered it’s customers whatever they needed or whatever their customers needed or demanded, an all in one package, which today is the industry norm. They would ship direct by passing where houses and allow the jobbers to get commissions and the end customer got it just in time and at a better cost; The Michael Dell concept all the way. They provide such things as; Crating and packing services, Set up or disassemble, Blanket wrapped air ride, Flatbeds, step decks and lowboys, Over dimensional and over weight shipment movement, Two man inside pickup or delivery, same day pickup and delivery- across the street or across the country, Pickup or deliver to exactly where required.

Not only that but CF offered a comprehensive range of Special Services. CF offered expert Reverse Logistics services and turnkey solutions, managing entire return programs or any portion of a return management operation. The Reverse Logistics people at CF developed customized return management programs that help businesses reduce expenses, track assets and control costs. CF was able to meet any return management challenge from a basic one-time program or fully integrated, on-going return management plan. CF also offered a complete menu of Reverse Logistics services, from basic to complex, including: on returns for credit like UPS and Product recalls & upgrades, Factory warranty service programs, Returns for re-calibration & inspection, Packaging, palletizing & consolidation, Documentation management (BOL, haz-mat, commercial invoices), o Maintenance & Repairs, Reusable containers, Core returns, Special requirement pickup & delivery, Product installation and breakdown, Small Parcel Management, International Management, Expedited (time sensitive) Management. We will miss this company as a shipper and a friend to the logistics and transportation industry as they were always cutting edge.

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