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Corvette Transporter Bankrupt

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  • Corvette Transporter Bankrupt

    Jack Cooper Transport who has traditionally hauled most of the Corvettes out of the Bowling Green Assembly Plant, declared for Chapter 11 Bankruptcy protection the first week of the month. They stated that this would allow them to refurbish its fleet and that they would be just fine. I saw this article the day it appeared, thought nothing of it until I saw this picture in another of today’s threads, my noticing a different transporter company. So in this thread are now two different company transporters.

    Click image for larger version

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    Originally posted by TransporterNews
    Jack Cooper Files for Bankruptcy, but Pledges 'Business as Usual'


    A Jack Cooper truck transports cars. (Jack Cooper Holdings Corp.)

    [Stay on top of transportation news: Get TTNews in your inbox.]

    Despite filing for bankruptcy, it will be “business as usual.”

    The Georgia-based auto-hauling company filed for Chapter 11 bankruptcy protection Aug. 6, according to documents filed in the U.S. District Court for Northern Georgia.

    Jack Cooper officials said in a news release the company is undertaking a “comprehensive, court-supervised restructuring that would reduce its debt by more than $300 million and
    preserve jobs.
    https://www.ttnews.com/articles/jack...business-usual
    GBA Black; HTO Twilight/Tension interior; Z51 & Mag Ride; E60 lift; 5VM visible carbon fiber package; 5ZZ high wing; FA5 interior vis CF; ZZ3 engine appearance; 3LT; Q8T Spectra Gray Tridents; J6N Edge Red Calipers; SNG Edge Red Hashmarks; VQK Splash Guards; RCC Edge Red engine cover; VJR illuminated sill plates. Lifetime, annual contributors, and 23 year members of National Corvette Museum. Home is the beautiful Pacific Northwest.

  • #2
    Here is what we typically see:

    Click image for larger version

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    GBA Black; HTO Twilight/Tension interior; Z51 & Mag Ride; E60 lift; 5VM visible carbon fiber package; 5ZZ high wing; FA5 interior vis CF; ZZ3 engine appearance; 3LT; Q8T Spectra Gray Tridents; J6N Edge Red Calipers; SNG Edge Red Hashmarks; VQK Splash Guards; RCC Edge Red engine cover; VJR illuminated sill plates. Lifetime, annual contributors, and 23 year members of National Corvette Museum. Home is the beautiful Pacific Northwest.

    Comment


    • #3
      More info on Jack Cooper:

      https://www.truckinginfo.com/338174/...-11-bankruptcy

      Looks like they lost Toyota's business when Toyota switched to another non-union hauler.

      Comment


      • #4
        You would think that this would be a lucrative contract. But, I would imagine with cars going in all different directions they either would have to broker loads which would be time consuming with little profit or they would be running a lot of partial loads and very scattered and costly. It is hard to run a fleet of trucks from one destination to various destinations.And then dead heading back Most likely a complicated contract with little room for error. Also they have to be tooled up to carry 40,000 cars in a good year and as little as 16,000 in a slow year.Takes a lot of Trucks that always have to be moving in a busy year and sitting still in a slow year. I recently read an article about QuadGraphics a company that is in the printing business, not INITIALLY in the Trucking business. They are huge print shop and print a lot of magazines and all the circulars and flyers throughout the country that come in newspapers and Sunday newspapers. The owner started the business back in the late 60s and did what most would not imagine. He started his own trucking business to haul his printed products. Has over 300 Tractor/ Trailers today. He has to keep those trailers full to pay for the equipment . That means they have to haul other's freight with no dead heading. If there is in the contract between Jack Cooper and GM that he is not allowed to haul other's freight, that is the problem.

        Comment


        • #5
          This has been very difficult couple of years for trucking companies. I'm not sure why, but many of them are reporting losses or dramatically lower profits.

          https://www.businessinsider.com/truc...-plunge-2019-7
          Delivered 5/29!: Scarlet Fever 2021 2LT HTC, Red Mist Metallic Tintcoat, two-tone Naturalw/ suede inserts, Mag Ride, Performance Exhaust, MRR 755 Gunmetal wheels

          Proud member of the Old Dominion Corvette Club: https://www.olddominioncorvetteclub.org/

          Never grow up - It's a trap.

          Comment


          • #6
            Just wait till they automate the trucking industry and all of those jobs go bye, bye.

            Comment


            • #7
              I think that in a couple of years these problems will become irrelevant. The time will come for cars.

              Comment


              • #8
                It is not surprising that these companies have gone bankrupt. When the pandemic started, all production stopped. Therefore, many truck drivers have lost their jobs. People gradually stopped needing luxury items.

                Comment


                • #9
                  Interesting however how consumer demand especially for high ticket items has not just come back recently but is exploding. The shortage of drivers is therefore becoming a bigger and bigger issue.
                  GBA Black; HTO Twilight/Tension interior; Z51 & Mag Ride; E60 lift; 5VM visible carbon fiber package; 5ZZ high wing; FA5 interior vis CF; ZZ3 engine appearance; 3LT; Q8T Spectra Gray Tridents; J6N Edge Red Calipers; SNG Edge Red Hashmarks; VQK Splash Guards; RCC Edge Red engine cover; VJR illuminated sill plates. Lifetime, annual contributors, and 23 year members of National Corvette Museum. Home is the beautiful Pacific Northwest.

                  Comment


                  • #10
                    Originally posted by mpgxsvcd View Post
                    Just wait till they automate the trucking industry and all of those jobs go bye, bye.
                    Wait until EV saves the world and 40% of the USA corn production that currently goes for ethanol isn't needed. Bankrupt farmers everywhere, that should help our country.🙄

                    Comment


                    • #11
                      Right now there's a shortage of about 70,000 long haul truck drivers, which is contributing significantly to the supply side crunch. Imagine how many more goods could be delivered if there were 70,000 automated trucks on the road.

                      And just think how much more food for people farmers could grow if they weren't growing corn that no one ever eats. Close to 25% of farmed land is used for ethanol production. Putting that land to use for food crops wouldn't put anyone out of work.
                      Delivered 5/29!: Scarlet Fever 2021 2LT HTC, Red Mist Metallic Tintcoat, two-tone Naturalw/ suede inserts, Mag Ride, Performance Exhaust, MRR 755 Gunmetal wheels

                      Proud member of the Old Dominion Corvette Club: https://www.olddominioncorvetteclub.org/

                      Never grow up - It's a trap.

                      Comment


                      • #12
                        Thanks all for staying out of politics and social commentary. We enjoy that this is a Corvette and other vehicle community.
                        GBA Black; HTO Twilight/Tension interior; Z51 & Mag Ride; E60 lift; 5VM visible carbon fiber package; 5ZZ high wing; FA5 interior vis CF; ZZ3 engine appearance; 3LT; Q8T Spectra Gray Tridents; J6N Edge Red Calipers; SNG Edge Red Hashmarks; VQK Splash Guards; RCC Edge Red engine cover; VJR illuminated sill plates. Lifetime, annual contributors, and 23 year members of National Corvette Museum. Home is the beautiful Pacific Northwest.

                        Comment


                        • #13
                          Never understood the lack of use of the rail roads for a lot of this transportation, until I thought of it logistically. Theoretically trains could carry more product, run all night with crew changes, and deliver on time. That is until you realize whats involved with creating or building a train with specific product loads, going everywhere. Just not that practical for a lot of products. Some entities have rail service direct to their location, but trucks will eventually have to deliver it to its final destination. I'm trying to imagine 70,000 more trucks on the road, if it were possible to have the trucks and drivers available tomorrow.

                          Comment


                          • #14
                            Originally posted by meyerweb View Post
                            Right now there's a shortage of about 70,000 long haul truck drivers, which is contributing significantly to the supply side crunch. Imagine how many more goods could be delivered if there were 70,000 automated trucks on the road.

                            And just think how much more food for people farmers could grow if they weren't growing corn that no one ever eats. Close to 25% of farmed land is used for ethanol production. Putting that land to use for food crops wouldn't put anyone out of work.
                            Ethanol is a waste. It takes more energy to produce it than it can possibly replace. But.........wudya gonna do?

                            Comment


                            • #15
                              Creditors are going to have to take a haircut, and swap some debt for equity. The rolling stock itself probably has little street value. Car transporters are only useful for transporting cars.
                              Expected build - 2022 HTC 2LT Z51
                              Front lift, mag ride
                              black exterior, adrenaline red interior, bright red calipers

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