Bounced payroll....300 local employees are in deep doo doo....sad.
1000 total employed will lose jobs....
Tulsa World did not report this....
Dougie was no Jim....
Quote from: FOTD on December 22, 2009, 08:36:53 AM
Bounced payroll....300 local employees are in deep doo doo....sad.
1000 total employed will lose jobs....
Tulsa World did not report this....
Dougie was no Jim....
You are the second person who said that about Doug this morning. The trucking industry as a whole isn't doing badly these days.
Face down? I heard it's tits up.
Quote from: Conan71 on December 22, 2009, 08:58:55 AM
You are the second person who said that about Doug this morning. The trucking industry as a whole isn't doing badly these days.
Face down? I heard it's tits up.
Tell that to one of my co-workers who left where I work now to be a recruiter at Arrow. Had no idea this was happening.
And while I don't work in the trucking industry, I work for a company who directly serves 90 percent of the top 100 of these companies. They aren't doing real good just yet.
One of our techs came in and said he saw tow trucks taking away tractors. I drove past and there's quite a few personal vehicles pulled up to rigs, unloading their personal belongings. People milling about in the parking lot, the news media on the east side of the street with cameras pointed toward the admin building. The maintenance shop is locked up tight and tractors are starting to pile up there. Truly a sad thing to see. My office is about 4 blocks from there.
There was a security guard turning in one of the lots when I was passing on Elwood.
Damn shame. I just can't believe the end was so abrupt.
Hmmm from their web site:
"Founded in 1948 and headquartered in Tulsa, Oklahoma, Arrow Trucking Company is one of the country's largest and most financially sound flatbed motor carriers. "
I guess that was total bullshit. ;D
Quote from: FOTD on December 22, 2009, 08:36:53 AM
Bounced payroll....300 local employees are in deep doo doo....sad.
1000 total employed will lose jobs...
Bush's fault.
Quote from: guido911 on December 22, 2009, 11:00:50 AM
Bush's fault.
The comments on-line are not very kind to Doug Pielsticker today on any of the news web sites which allow user comments.
Quote from: Conan71 on December 22, 2009, 10:31:38 AM
Hmmm from their web site:
"Founded in 1948 and headquartered in Tulsa, Oklahoma, Arrow Trucking Company is one of the country's largest and most financially sound flatbed motor carriers. "
I guess that was total bullshit. ;D
We don't know the financial condition of the others....yet.
Anyone else aware that Ramsey Winch had filled Chapter 11 last Friday? They claim there will be no job loss related. Apparently, they are saddled with $100mm in debt over the aquisition of a planetary gear drive company they bought up in the KC area earlier this year. It's in the TW business section this morning.
Quote from: Conan71 on December 22, 2009, 11:01:38 AM
The comments on-line are not very kind to Doug Pielsticker today on any of the news web sites which allow user comments.
The commentors are not seeing the change they can believe in.
I have been following this thread http://www.topix.com/forum/business/trucking/TQGLM52QLQAR7RBA1 (http://www.topix.com/forum/business/trucking/TQGLM52QLQAR7RBA1)
and two or three other companies are already trying to recruit the drivers that have lost their jobs, and some of the shippers and receivers are will ing to pay the drivers personally for delivery of the loads, and there are a lot of people trying to help get the drivers back to their homes.
Quote from: dbacks fan on December 22, 2009, 11:30:52 AM
I have been following this thread http://www.topix.com/forum/business/trucking/TQGLM52QLQAR7RBA1 (http://www.topix.com/forum/business/trucking/TQGLM52QLQAR7RBA1)
and two or three other companies are already trying to recruit the drivers that have lost their jobs, and some of the shippers and receivers are will ing to pay the drivers personally for delivery of the loads, and there are a lot of people trying to help get the drivers back to their homes.
There is some good news it seems.
Quote from: guido911 on December 22, 2009, 11:20:17 AM
The commentors are not seeing the change they can believe in.
Just to keep this discussion honest!
It's all the more sad for the employees who cant collect unemployment because Arrow played the "suspended operations" card.
Quote from: patric on December 22, 2009, 01:18:18 PM
It's all the more sad for the employees who cant collect unemployment because Arrow played the "suspended operations" card.
The office personnel that I've talked to (well just one, but I've known her for about five years) said they knew it was coming, just not this fast. My friend was able to secure employment elsewhere that starts the first week of January. I'm praying for those others who haven't been so lucky.
Maybe another local/regional trucking company like Miller or JB Hunt can buy the assets and keep a lot of these people employed in Tulsa? I was reading the TW comments and multiple people are claiming this is Doug Pielsticker's fault. I know the Pielsticker family is part of Tulsa high society attending fundraisers and such all the time, the type of people you see in Danna Sue Walker's TW column on a weekly basis. They claimed he was stealing money from the company and lives a lavish lifestyle driving a Maserati to work while his wife drives a Bentley. Interesting story, will be anxious to see how it all turns out. Tulsa has a history of having companies like this that grow and their owners become extremely wealthy then it all comes crashing down abruptly...CFS, WilTel, SemGroup, Arrow Trucking???..
Being as close to Arrow as I am, it's been sad to drive by and see the goings on. There was a pack of wreckers heading to Arrow's yard on S. Elwood earlier when I left to run some errands and a pack was there when I came back by. More drivers are cleaning out their trucks and I've been seeing tractors being hauled off.
Some good to come of it is we've been seeing Transit Services tractors going in and out of the Arrow yard picking up idled loads. I imagine the drivers can be assimilated into other companies pretty easily, but finding jobs for the 300 or so that worked in maintenance and in the HQ is going to be more difficult. I'm still not clear on how many terminals they operated around the country and now their web site is down.
The bad part is the news is reporting recent paychecks were bouncing and there is no money for final pay. What a shitty Christmas gift three days out.
I went to the same school as Doug, I think he might have been in the same class as another of our members I'll let him mention it himself if he wants to. He definitely grew up in the lap of luxury. This was such a well-run and admired company for so many years in Tulsa, it's been very hard to watch all this take place down the block. I'm sure the overall economy had something to do with this, but an abrupt halt to operations like this points to truly crappy management.
Some of the comments from users on media web pages have mentioned a Bentley parked in his spot at Arrow. Just guessing, but I bet he didn't go into the office today. Here's the thumbnail from his profile photo on Facebook, tell me what you think, I belive that's an NYC heliport and I think he might have been a bit on the materialistic side:
At least the employees at the HQ can go home. The drivers stuck out on the road with no money and no fuel card are the ones that are really feeling it. From what I have been reading if they own a Freightliner or Kenworth, they can go to the nearest dealer and Daimler Financial will get them on a Greyhound to get home. Everyone else seems to be on their own. The thread I posted earlier has been encouraging for the drivers with other companies helping to get drivers home and several are asking for them to apply for positions. The trucking industry truly seems to be one to help one another in tough times, maybe some other industries could take a lesson from them.
Quote from: dbacks fan on December 22, 2009, 03:51:46 PM
At least the employees at the HQ can go home. The drivers stuck out on the road with no money and no fuel card are the ones that are really feeling it. From what I have been reading if they own a Freightliner or Kenworth, they can go to the nearest dealer and Daimler Financial will get them on a Greyhound to get home. Everyone else seems to be on their own. The thread I posted earlier has been encouraging for the drivers with other companies helping to get drivers home and several are asking for them to apply for positions. The trucking industry truly seems to be one to help one another in tough times, maybe some other industries could take a lesson from them.
If Arrow was still moving quite a few full loads and keeping their drivers busy- there's still a demand for the drivers who will be assimilated into the system.
Transit Services has been hauling some of the loads out this afternoon, looks like.
Quote from: Conan71 on December 22, 2009, 03:35:33 PM
Being as close to Arrow as I am, it's been sad to drive by and see the goings on. There was a pack of wreckers heading to Arrow's yard on S. Elwood earlier when I left to run some errands and a pack was there when I came back by. More drivers are cleaning out their trucks and I've been seeing tractors being hauled off.
Some good to come of it is we've been seeing Transit Services tractors going in and out of the Arrow yard picking up idled loads. I imagine the drivers can be assimilated into other companies pretty easily, but finding jobs for the 300 or so that worked in maintenance and in the HQ is going to be more difficult. I'm still not clear on how many terminals they operated around the country and now their web site is down.
The bad part is the news is reporting recent paychecks were bouncing and there is no money for final pay. What a shitty Christmas gift three days out.
I went to the same school as Doug, I think he might have been in the same class as another of our members I'll let him mention it himself if he wants to. He definitely grew up in the lap of luxury. This was such a well-run and admired company for so many years in Tulsa, it's been very hard to watch all this take place down the block. I'm sure the overall economy had something to do with this, but an abrupt halt to operations like this points to truly crappy management.
Some of the comments from users on media web pages have mentioned a Bentley parked in his spot at Arrow. Just guessing, but I bet he didn't go into the office today. Here's the thumbnail from his profile photo on Facebook, tell me what you think, I belive that's an NYC heliport and I think he might have been a bit on the materialistic side:
I know Doug, or knew him. I haven't talked to him in 20 years, and that's perfectly fine by me.
There's a right and wrong way to do things and this is definitely the wrong way. No concern for employees and leaving drivers stranded is inexcusable.
I still can't fathom why they didn't file Chapter 11 months ago instead of literally running the business into the ground.
Storey wrecker reaps all the profits again
Quote from: YoungTulsan on December 23, 2009, 02:51:17 AM
Storey wrecker reaps all the profits again
Im not trying to get off topic, but you mentioned Storey wrecker.
My neighbor who works for Storey had to move out of his home that he bought two years ago, because their revenue has dropped so much he could no longer afford the payments and now is back to renting a smaller home. He has been with them over ten years.
He is a great guy and was a good neighbor. The kind you want to keep.
Quote from: DolfanBob on December 23, 2009, 09:19:35 AM
Im not trying to get off topic, but you mentioned Storey wrecker.
My neighbor who works for Storey had to move out of his home that he bought two years ago, because their revenue has dropped so much he could no longer afford the payments and now is back to renting a smaller home. He has been with them over ten years.
He is a great guy and was a good neighbor. The kind you want to keep.
With their exclusive contract with the city for many years, I can't imagine Storey's revenue has dropped off. The economy won't make for fewer break-downs, wrecks, and abandoned cars. If anything, towing is like the funeral business, pretty much recession-proof.
Quote from: Conan71 on December 22, 2009, 10:53:01 PM
I still can't fathom why they didn't file Chapter 11 months ago instead of literally running the business into the ground.
Too much Cascia Hall inbreeding....
Quote from: FOTD on December 23, 2009, 11:26:43 AM
Too much Cascia Hall inbreeding....
I'm wondering how come FOTD didn't see this coming as he claims to for everything else.
Quote from: sgrizzle on December 23, 2009, 01:00:08 PM
I'm wondering how come FOTD didn't see this coming as he claims to for everything else.
Give it time, and an explination will come.
Quote from: sgrizzle on December 23, 2009, 01:00:08 PM
I'm wondering how come FOTD didn't see this coming as he claims to for everything else.
Thanks for the trigger Scott.... :o
Quote from: sgrizzle on December 23, 2009, 01:00:08 PM
I'm wondering how come FOTD didn't see this coming as he claims to for everything else.
This occasional memory has curtailed my prognostication, sorry. Eating crow is not my choice just the consequence.
Saw this coming but who knew how such a flagrant narcissist could ruin so many lives at one time at this time of year.
You want me to tell you the yellow lights are on our World?
Yes Doug had a Bentley, and the company was his personal piggy bank....
I'm from a family of truckers, and my father had driven for Arrow in the past. He left there shortly after the previous owner died and things started going downhill. He got out of OTR trucking a few years ago since he was starting to loose money and has stuck to driving the oil fields of New Mexico since then. I've watched Arrow flounder ever since then from the sidelines as a minor point of interest since it only lightly effected my family. Those in the family that pushed through the hard times, like my step-father, have had hard times. We have had one trucking business in the family go under, but I personally think that was more poor administrations then the economy. While the industry is starting to pick up again, it has by no means recovered. Trucks no longer sit for weeks without loads, but they will sit for days, and that hurts. However, a poor economy is only partially to blame for what has happened at Arrow. From everything that I have picked up on in the past few years, the heirs of the company have ran it into the ground with very poor oversight and little knowledge of the industry.
I hate bumping a topic this old, but it's relevant.
http://www.newson6.com/story/27553238/former-arrow-trucking-ceo-arrested-in-dallas
Quote from: Hoss on December 04, 2014, 09:24:58 PM
I hate bumping a topic this old, but it's relevant.
http://www.newson6.com/story/27553238/former-arrow-trucking-ceo-arrested-in-dallas
Read the comments. Seems to a lot of people here locally that it's relevant. Wonder if that's pretty boy's mug shot? He seems happy. Sorry bout the loss of his Mansion. ::)
Quote from: DolfanBob on December 05, 2014, 08:57:27 AM
Read the comments. Seems to a lot of people here locally that it's relevant. Wonder if that's pretty boy's mug shot? He seems happy. Sorry bout the loss of his Mansion. ::)
Not his mug shot. That's an old photo.
His mansion was bulldozed......
Quote from: Hoss on December 05, 2014, 09:10:39 AM
Not his mug shot. That's an old photo.
I'm sure he's a big hit with the thugs in Dallas County. One can hope he's already been face down a few times.
Quote from: Conan71 on December 05, 2014, 09:56:48 AM
I'm sure he's a big hit with the thugs in Dallas County. One can hope he's already been face down a few times.
I see what you did there
Quote from: carltonplace on December 05, 2014, 10:11:19 AM
I see what you did there
If you watch Sons of Anarchy you really would know what he means there. :o
http://publicradiotulsa.org/post/former-arrow-ceo-be-arraigned (http://publicradiotulsa.org/post/former-arrow-ceo-be-arraigned)
QuoteAt the time the business closed, the bankruptcy attorney estimated liabilities of nearly $100-million. However, assets only totaled $8 1/2 million.
It has been alleged that Pielsticker looted the company to buy a vacation home, air plane and other luxury items.
Quote from: Conan71 on December 05, 2014, 09:56:48 AM
I'm sure he's a big hit with the thugs in Dallas County. One can hope he's already been face down a few times.
Trying out for Ned Beatty's role in a remake of "Deliverance"?
Quote from: dbacksfan 2.0 on December 05, 2014, 01:30:30 PM
Trying out for Ned Beatty's role in a remake of "Deliverance"?
He's got some mighty purty teeth.
From the updated TWorld story:
Records show that Moore, the company's former chief financial officer, signed a plea agreement with federal prosecutors in October that names Pielsticker as part of an alleged $24 million financial conspiracy.
Moore states in his plea agreement that he, Pielsticker and other co-conspirators conspired to defraud the Internal Revenue Service and Transportation Alliance Bank.
"As part of the conspiracy, payroll taxes were withheld from employees' wages but no taxes were paid or turned over to the Internal Revenue Service as required by law," Moore's plea agreement states.
"As part of the conspiracy, funds from Arrow Trucking were diverted from the company, in part, to pay for the personal expenses of James Douglas Pielsticker and others."
Moore's agreement states that he and Pielsticker "caused Arrow Trucking Company to submit fraudulent invoices to Transportation Alliance Bank to induce the bank to pay funds to Arrow Trucking Company that were not warranted."
His agreement states that the loss to the IRS totaled more than $9 million while Transportation Alliance Bank's loss totaled more than $15 million. The agreement is contingent upon Moore's continued cooperation in the case.
Though the agreement was signed by Moore on Oct. 8, it was signed by the U.S. attorney's office for the Northern District of Oklahoma on Thursday, records show.
Former Arrow Chief Headed to Prisonhttp://publicradiotulsa.org/post/former-arrow-chief-headed-prison (http://publicradiotulsa.org/post/former-arrow-chief-headed-prison)
QuoteFormer Arrow Trucking CEO, Doug Pielsticker, changes his original plea on two federal charges.
At a change of plea hearing in Tulsa federal court Wednesday, Pielsticker changed his plea from not guilty to guilty on a $25.6 million conspiracy charge as well as to a charge of lying on his taxes.
He originally faced 23 federal charges, but according to an U.S. assistant district attorney, his charges were reduced to only these two in a plea deal.
Pielsticker revealed to the judge he became aware Arrow Trucking Company wasn't paying payroll taxes to the IRS, but he did nothing to change that. He went on to say he didn't personally "write false and inflated" invoices to the bank- but was aware of that too and didn't correct it.
Pielsticker also admitted Arrow Trucking paid his personal expenses, but he didn't report that on his taxes.
He faces up to 10-years in prison and $51 million in restitution.
Got thrown a softball....
What a sleazebag.
Quote from: heironymouspasparagus on February 05, 2015, 04:40:46 PM
Got thrown a softball....
What a sleazebag.
Oh ya. Give him 10. He'll do maybe two. And the fine? You might as well try and get it from me. That's what a good Attorney can do for ya. ::)
Quote from: heironymouspasparagus on February 05, 2015, 04:40:46 PM
Got thrown a softball....
What a sleazebag.
He was getting ten years no matter what....Whether it was all charges or what he pled too....
Quote from: Breadburner on February 05, 2015, 06:22:35 PM
He was getting ten years no matter what....Whether it was all charges or what he pled too....
No surprise.... softball.
Quote from: heironymouspasparagus on February 05, 2015, 04:40:46 PM
Got thrown a softball....
What a sleazebag.
I predict he commits suicide or flees the country prior to reporting for prison.
Yes, I gather the first part of my prediction is tasteless. I didn't say I hope he does, just that he's the sort of coward who can't imagine being behind bars for 8-10 years.
Sounds like the plea deal covered the tax crimes on which they had him red-handed. The bank fraud and other counts would likely have been harder to get a conviction. His attorney is already playing the poor health card to try and minimize the sentence. Hopefully Judge Frizzell holds strong and gives him 10.