What's Happening With PRIDE GROUP?! Billion Dollar Settlement Update!

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What's Happening With PRIDE GROUP?! Billion Dollar Settlement Update!

Рет қаралды 15,481

ET Transport

Күн бұрын

Пікірлер: 112

@MythLeatherCo 4 ай бұрын

Nothing wrong with organic growth. Borrowing $2B for any business (especially transportation) is asinine! At the end of the day, it’s the big banks fault for not doing their due diligence and applying some risk management techniques here.

@NorthAmerican-Trucking-News 4 ай бұрын

I agree, but the issue at hand here is that Pride's downfall came for a lot of their drivers

@johnSmith-dz8yr 4 ай бұрын

The Canadian freight market is going crazy, just saw today that True North Freight locked the doors and disappeared without paying the drivers or staff this week

@NorthAmerican-Trucking-News 4 ай бұрын

We heard about that today!

@victormejia512 4 ай бұрын

Thanks for updating us now. That's what I am asking for simple news updates, especially companies well known

@NorthAmerican-Trucking-News 3 ай бұрын

You are most welcome!

@ISACJONNY 4 ай бұрын

I was on the phone with them right now. Thinking about to return my equipment

@alfonsodejesus5248 4 ай бұрын

What they told you? Im behind payments already too. And im thinking the same go return the truck. But im not sure if they will affect our credit or suit for debt?

@NorthAmerican-Trucking-News 3 ай бұрын

Might be smart... never good to cling to a piece of a sinking ship.

@ctfinneman 3 ай бұрын

@@alfonsodejesus5248 Ghost ride into the dealership and report it stolen.

@ISACJONNY 3 ай бұрын

@@alfonsodejesus5248 I have someone who wants to buy my truck. Because I made a good down payment they can take the truck and we are good or I will transfer to another buyer . I’m still thinking about it. Not sure if I leave or continue. Times a rough brother. But I don’t have any payment behind me.

@diljotshoker1 4 ай бұрын

the model is great. bad credit. need 25-35% down payment, charge 10-25% interest. Make payments for a couple months, can't pay anymore, you repo truck, they resell the truck and repeat.

@NorthAmerican-Trucking-News 3 ай бұрын

Yeahhhhhh

@Chaa-nal-anda 3 ай бұрын

Gigg,Charger, Falcon next Canada looks like

@NorthAmerican-Trucking-News 3 ай бұрын

@jim-zx7gz 3 ай бұрын

We had a local corporation here few years back that did the same thing....they offered their investors a real great return on the money they invested....went great for awhile but when it crashed it was ugly....like a pyramid scheme gone bad

@NorthAmerican-Trucking-News 3 ай бұрын

Yikessssss

@nicholas8793 3 ай бұрын

Pride Group is why the trucking industry in Canada is garbage. Glad this is happening and shaking out the industry. Let’s hope it isn’t allowed to happen again.

@philliplinkous6393 4 ай бұрын

Thanks for the video good information

@NorthAmerican-Trucking-News 4 ай бұрын

Thanks for watching!

@ztee100 4 ай бұрын

Thanks

@NorthAmerican-Trucking-News 4 ай бұрын

Thanks for watching!

@JJohnson-yf2ky 4 ай бұрын

They are in a really deep hole, I’d be really surprised if they can get out, the amount of money is too high. This is only the beginning of the end for them.

@NorthAmerican-Trucking-News 4 ай бұрын

I think they will actually, just at the cost of the drivers

@agccanada 4 ай бұрын

Take a million dollars from the bank and its your problem. Take a billion dollars from the bank and its the banks problem.

@NorthAmerican-Trucking-News 4 ай бұрын

Haha

@LovelyFriedEgg-el1sq 3 ай бұрын

I like this guy. He makes money on his videos. Plus pulling drivers into his company. I don’t know what he pays his o/o or drivers. But it’s probably less than 65%. That is a really bad deal

@NorthAmerican-Trucking-News 3 ай бұрын

Less than 65% would be criminal, no one would willingly work for 65% much less work for less than that

@garfgould1726 4 ай бұрын

Wow it’s going to be very interesting

@NorthAmerican-Trucking-News 3 ай бұрын

Indeed it might be!

@michaelgillespie6850 3 ай бұрын

Not only was they interested high but there down payment where crazy, my buddy got a new one from them 45k down just greedy business this is what wrong with this country today people are buying things like it’s free. Great videos

@NorthAmerican-Trucking-News 3 ай бұрын

Ridiculous downpayment

@roadsideservice2406 4 ай бұрын

I’m sure there is some shady things going on

@NorthAmerican-Trucking-News 3 ай бұрын

Naturally. Will they really just accept an L and move on?

@LovelyFriedEgg-el1sq 3 ай бұрын

Even with this guy

@billymackbuilds9348 3 ай бұрын

Maybe they will start answering calls and paying their warranties they sold to customers. I was told they were great to deal with, and have had nothing but problems dealing with this company.

@NorthAmerican-Trucking-News 3 ай бұрын

Haha, I doubt that somehow

@nicholas8793 3 ай бұрын

You gave poor business sense if you think it was a good idea to buy trucks and warranties from a company like Pride.

@JCaddy007 5 күн бұрын

@@nicholas8793back in 2019 when I was shopping around for new truck 1st I went to pride but I got weird vibe so I left and buy my truck at Freightliner Hamilton dealership wit very low interest rate

@user-wk4ec5fn6w 4 ай бұрын

I find it interesting that the banks haven’t gotten involved. They no more want all these trucks turned back in than Pride Group. You would think the banks would use their power to push up the freight rates so everyone involved can make money as well as the banks. 0:15

@NorthAmerican-Trucking-News 4 ай бұрын

What gave the impression that they want everyone to make money as well?

@brigittebelton2017 4 ай бұрын

They have a hotel in Illinois. I passed it today crazy.

@NorthAmerican-Trucking-News 4 ай бұрын

A hotelllll, wow

@straightedgetrucker1602 4 ай бұрын

Where is the link to join ? Lol I can’t find it anywhere in the description of the video.

@NorthAmerican-Trucking-News 4 ай бұрын

It's right beside our name under the video! A button that says "Join"! 🙂

@rollickplays3579 4 ай бұрын

They gave trucks out to owner operators just by their id no social nothing.

@NorthAmerican-Trucking-News 3 ай бұрын

Oh?? That's disconcerting

@rollickplays3579 3 ай бұрын

One of my drivers he told me how they did this nefarious practises and he said just a few months ago he just abondaned the truck and nobody has come yet to claim it, he even said that he knew a lot of them who went through the same process of leasing the truck.

@ctfinneman 4 ай бұрын

I herd they include a free turbin with a truck purchase.

@joshmitchell5225 4 ай бұрын

And water bottle

@jaeinnmoon3279 4 ай бұрын

They get a free yamika if they decide to move into the dispatch department.

@TheSylvesterruelas 4 ай бұрын

Turbin and flip flops!!

@phjl1963 4 ай бұрын

That is the dumbest crap I've heard today

@johnmclean1482 4 ай бұрын

Learn to spell idiot before you wanna rip on others

@prakashkiran1 4 ай бұрын

I didn't know there was this much racism in transportation industry in Canada. I knew this was common in the US but noticing in the comment section of your videos how many comments are targeted towards a particular group of people. Is this jealousy or something they do which really pisses off you folks?

@NorthAmerican-Trucking-News 4 ай бұрын

It is believed that people of the middle east and Indians and the like are the reason why rates are driven down at fast rates because they are thought to be the ones running all the cheap freight on the market. As a result, many Canadians are open about their dislike towards those groups

@prakashkiran1 3 ай бұрын

@@NorthAmerican-Trucking-News ohh Ok.

@juliogonzo2718 3 ай бұрын

@prakashkiran1 I personally have no problem with South Asian drivers. I do have a problem with South Asian owned trucking companies who bring people here who have little experience driving a truck and send them across the country in the winter in conditions they are not prepared for. Also they often pay and treat their drivers poorly and do not follow Canadian labour laws (deducting pay for accidents for example) they are basically abusing their drivers so they can undercut other companies who play by the rules and try to put them out of business. It is basically legal human trafficking in my opinion by some of these employers.

@prakashkiran1 3 ай бұрын

@@juliogonzo2718 thanks for the explanation!! Appreciated

@wesdowling1340 Ай бұрын

Their lack of business sense,,some ,and dishonest behavior are really the problem

@joshthehulk7241 3 ай бұрын

We need more trucking bankruptcies. Freight rates will never get better if so many trucks are on the road.

@NorthAmerican-Trucking-News 3 ай бұрын

We're gonna wait a while if that's the resolution we're looking for

@jimmycagnee65 4 ай бұрын

Are you hiring now or waiting for markets to stabilize?

@NorthAmerican-Trucking-News 3 ай бұрын

We are waitlisting currently, but we are definitely watching the market to see if it will stabilize

@ctfinneman 3 ай бұрын

@@NorthAmerican-Trucking-News Can i smoke crack and pull a dry van for ET?

@juliogonzo2718 3 ай бұрын

I wonder if this will result in lower prices on the used market if thousands of trucks are liquidated?

@NorthAmerican-Trucking-News 3 ай бұрын

Yes it will

@DavidTrucker-lo4bs 4 ай бұрын

My factoring company won't factor their brokage. They're still posting loads. I don't know how they're doing it, but they post their loads without their MC showing on dat.

@NorthAmerican-Trucking-News 4 ай бұрын

Interesting

@JCaddy007 5 күн бұрын

I don't buy loads from pride from day 1. Never done any pride loads

@abokaramsalem6597 4 ай бұрын

I still see their equipments on the road

@BigLisaFan 4 ай бұрын

Had 2 of their drivers ask me if my company was hiring. Gave them the info. They are worried about their future.

@NorthAmerican-Trucking-News 3 ай бұрын

I'm not sure how long that will be the case for

@abokaramsalem6597 3 ай бұрын

Not for too long for sure

@lucmarchand617 3 ай бұрын

This type systems look good on paper but black cloud show up you got huge storm yup.pride was good but when covid 19 went after slowdown start few crack on them.i saw this before with heavy equip.most are out business sad but true.😮

@victorsuarez2954 3 ай бұрын

Im leaving this mess before somebody close it's doors with my paycheck inside.

@NorthAmerican-Trucking-News 3 ай бұрын

You would be much the wiser to do so, yes

@amandeepdroid 3 ай бұрын

I am looking for update of billion dollar heist happen in Canadian airport by Indian immigrants!! if you know you can share!

@NorthAmerican-Trucking-News 3 ай бұрын

That's news to me, what was that about?

@amandeepdroid 3 ай бұрын

@@NorthAmerican-Trucking-News kzfaq.info/get/bejne/aMBym9Oi2LjRhHk.htmlsi=1Cn8kDxtIT_kVLsW

@jamesclapp6940 4 ай бұрын

IF COMPANIES WOULD REFUSE T LOSE MONEY( sub $3.00..) per mile then the industry would be better off. The brokers who accept poverty freight should just NOT broker the freight. What about the fuel surcharge that is supposed to be charged. As a perceptive O/O I could NEVER make the equation work with cheap freight.I understand that you have to serve your customers but groveling on the phone to freight brokers is embarrassing. publish a money making rate and stick to it. as the old movie clip says " it is a poor salesman the cuts his rate"!

@NorthAmerican-Trucking-News 4 ай бұрын

Most of the brokers aren't accepting poverty freight. They're the ones making them. They accept a decent load and try to broker it at a 20~40% profit leaving carriers to barely make any on their own

@thomasstewart2821 4 ай бұрын

I would say let him fail. They was getting rich off back of the truckers 12% interest is crazy. You can't manage your business and balance your books it's time to call it quites

@NorthAmerican-Trucking-News 4 ай бұрын

Something tells me he won't fail though