Sign of the Times

Read on another site Cootes of the road again any truth

www.fullyloaded.com.au/news/industry/140...ion-of-cootes-fleet/


www.fullyloaded.com.au/news/industry/140...broadside-at-cootes/

...looks like it's all coming to a graunching halt very quickly for the petrol operations inside of MacAleese's Cootes business....

...VicRoads today have grounded another 15 trucks from their Victorian operations, and with that MacAleese have apparently decided to suspend (for now) all petrol transport operations Australia wide.....

....there are meetings among the firm and their drivers on Monday....

HHmmmm. Not pretty.. :'(

www.smh.com.au/business/540-jobs-to-go-a...-20140218-32wyk.html

Yep...

And that's only if they keep the Origin contract currently under negotiation, and the Caltex contract that runs out in March.

If either of them are lost....

Not looking good at all.

Pardon me if i seem rude but why on earth did Ian Cootes sell the company that he built up from scratch to a pack of money hungry investors with, it would seem, no knowledge whatsoever about the transport of hazardous products. I understand the need to get the best price when you sell a well established business, but i can't understand why you would risk savaging your hard earned reputation by selling your business to such people especially with your name still all over the vehicles. The Equity company relied on the excellent record of COOTES but seem to have no idea how to continue that excellent record as shown by the latest events. When i carted oil and was at the tanker cleaning yard in Altona Vic many COOTES drivers complained about the way the company was heading. There was even talk of drivers being offered the trucks with work subbing for COOTES although one driver remarked about the dubious rates &conditions if they took the offer. Another driver i spoke to when i drove a truck&dog told me that the bosses at COOTES would call at anytime day/night to tell you of loading and if you didn't say yes they would not give him another load for the week so this driver who had been with the company about 15 years just left and started local tipper work. How do you replace that experience!!!. Sorry if i've rambled on but i am very passionate about this industry and want to see it drag itself out of the mess it is in

It is quite common for investment companies to buy up good cash flow businesses for inflated prices, then strip assets and/or reduce costs to get a justifiable ROI.

I guess they made Cootes an offer too good to refuse, and he didn't forsee the problems to come.

the way things are going,there will only be two colours for trucks,green or red and yellow.I noticed up here lately,all the new IPEC trucks are just Toll green with no logo to say which part of the Toll group they belong to.

the way things are going,there will only be two colours for trucks,green or red and yellow.I noticed up here lately,all the new IPEC trucks are just Toll green with no logo to say which part of the Toll group they belong to.

but whos to blame for all this the smart a$$ mum and dad investor who deal on the share market and always demand a return or the rest of us who are to gutless to have a go our selves the truth of the matter is we only get the world we deserve so perhaps we all need to look at our selves rather than blame the big companys all the time just a thought

Paul

Olddon, the new Toll trucks in Mackay are the same, but they do have the department name, NQX, Intermodal (QRX) etc in fine print under the Toll name on the door.