Swift Corporation Names Richard Stock...

Swift Corporation Names Richard Stocking as President and Chief Operating Officer

There are 30 comments on the MarketWatch story from Jan 9, 2009, titled Swift Corporation Names Richard Stocking as President and Chief Operating Officer. In it, MarketWatch reports that:

Swift Corporation announced on Tuesday that, effective immediately, Richard Stocking is being promoted to the position of President and Chief Operating Officer of its trucking subsidiary, Swift Transportation ...

Join the discussion below, or Read more at MarketWatch.

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Michael

Chicago, IL

#1 Mar 9, 2009
Mr. Stocking,
Why are you cancelling the o/o health insurance and causing so much grief for us drivers? Are you doing this because you want us to quit? Is this your way of 'getting rid of us'? we were paying a lot of money for that insurance and we did not complain because it was a great plan.
We deserve an explanation!
Paula

Chicago, IL

#2 Mar 10, 2009
I worked for Swift for many years and they were pretty good to work for--that was until these new people in management came in. These guys are a bunch of liars and they will do anything to make themselves richer. The don't like owners because owners cna choose their loads. Sorry, owners you are being punished by them yanking your o/o insurance. They want you to quit, break that contract because then they can charge you!
Stick with it until your contract ends--then quit. Don't sign anything! They will take you to the cleaners and then they will give you a bad rap when someone calls for references. You made a big mistake by hauling for them.
not true

Greenville, SC

#3 Mar 12, 2009
Owners cannot choose their loads. They can choose to turn down a load but they may not get another preplan until the next day.
An Unhappy Swift Employee

United States

#5 Mar 23, 2009
Richard,

Your tightening of the company belt is hurting us drivers. By you cutting back on everything, including idle time to allow us drivers to stay comfy and cool or heated in the trucks, now, you have made my Winter the worst I've ever had in a truck. Having to spend out of my own pocket for supplies that you should supply, and having to shut the truck off in 0 (yes, ZERO) degree weather or in 112 heat is the worst I've ever had to experience with any company.

Personally, after 5 1/2 years with Swift, almost 8 total in the industry, I'm setting up to jump ship to another comped. company. Sure I will be getting less pay, but I will be gaining more respect from that company then you or swift has shown me since last summer, 2008 when all this idle crap started.

You just want to line your pockets and don't give a damn about drivers, period. If you did, you would pay for idle aire or APU for the trucks, insted, you rather let us suffer as a unit and gain wealth from our hard labors and don't even want to look our ways when we bring it up. I know, its not your doing... sureeeee...

An honest look at swift...

Sincerely,

an unhappy employee
Truck guy

Milton, Canada

#6 Mar 27, 2009
Have any of you drivers picked up a newspaper lately???? The economy has tanked and Swift is bleeding. No one is lining their pockets. All of these constraints on you are a last ditch effort to save the company from going bankrupt!
Duchess

United States

#7 Mar 27, 2009
Swift has been put on a "negative credit watch" and their rating is now CCC+. The company does not want tenured employees or long term lease operators and will terminate you or harass you into resigning when you become a financial liability. Yes, your loyalty is a liability. The longer you drive for Swift the more vulnerable you become. They began as a sweat shop training company with no expectation or desire to have drivers remain with them for more than a few years. The company and Jerry Moyes are in dire financial straits. The current economic recession/depression coupled with freight bookings at 30% of capacity and the high cost of financed operating capital has left Swift flailing in a whirlpool trying to avoid the inevitable drain. I am certain the new corporate officers feel they can save their company but they will do it as they always have done....on the backs of the paycheck peons they have always preyed upon. My advice.....find other employment before you find yourself in a bankruptcy courtroom next to one filled with Swift corporate officers and attorneys.
ken

Lanham, MD

#8 Mar 28, 2009
i own my own truck outright and have been accepted to another company. set it up next the mve monday, in the mean time stuck in LA, no loads. the bottom line is i wish i didn't have to leave but swift is gutless in there aproach to thinning the herd. using cheap ways to cut drivers. message to his fleet from my driver manager"we are losing a lot of folks for messy logs". can't afford to get fired for a cheap shot because they refuse to just cut drivers. they have been good fo me for 5 years, been here 5 and a half.
Duchess

United States

#9 Mar 28, 2009
All Swift's long term drivers, company or lease operators, are the most vulnerable. You, me and countless others have been harassed into resigning or terminated with marginal justification during the past few months. In my case, the harassment was obviously choreographed because I never failed a DOT inspection, received a citation, had a preventable accident or service failure. I did have an equitized truck which was more valuble to them than my years of continuous safe, legal and on-time performance. I Haven't taken Prilosec since I gave Swift the infamous salute and said, adios. :)
ken

United States

#10 Mar 28, 2009
trucker guy is right, there isn't any conspiracy. swift was made on cheap frieght. then cunningham kicked up pay for swift drivers. jerry took back over and borrowed 1.5 billion at 12% interest, putting swift in debt for 3 billion. you can't be a low cost shipper with that much exspense's. swift is struggling, in my opinion, because it's business model is broke. it flailing around grabing at any life vest it can grab. just be careful it dosen't drag you down too.
truckerswife

Vega Alta, Puerto Rico

#11 Mar 29, 2009
How can my husband get off a lease contract with no major penalties? Does anyone know?
Duchess

Salt Lake City, UT

#12 Mar 29, 2009
Unfortunately, he needs to find a Swift driver who is qualified to assume the lease on his unit. There are so many trucks available in Phoenix it may be difficult to find someone willing to lease his truck and IELC will not offer him assistance. If he defaults on his lease, Swift will turn it over to collections which will negatively affect your credit. If you are members of OOIDA i would contact their legal department or if you are financially able, secure your own counsel. I wish you good luck.
thecapt

United States

#13 Apr 2, 2009
Where are you working now duchess? and good for you. I guess I am the only swift employee who hasn't had a bad experience except for a slowdown in miles. I agree that many people have had bad experiences but alot of those (not all I know) were brought on by them. We all need to stick together and share our knowledge and I am sure learning from yall. Godbless.
Swift owner-operator

Goodyear, AZ

#14 Apr 2, 2009
I have been with swift for 7 yrs. I used to like the company, but now is a diff story. I called a couple of companies last week and was told they were not hiring owner/ops. No frieght. I will stick with them til it picks up then re-evaluate it....
Duchess

United States

#15 Apr 2, 2009
thecapt wrote:
Where are you working now duchess? and good for you. I guess I am the only swift employee who hasn't had a bad experience except for a slowdown in miles. I agree that many people have had bad experiences but alot of those (not all I know) were brought on by them. We all need to stick together and share our knowledge and I am sure learning from yall. Godbless.
After 14 years with Swift am now pulling perishables for a medium sized company that LOVES drivers....wtf is up with that :)))))

“Liberal Teachers ruin Kids”

Since: Mar 09

Paradise Valley Arizona

#16 Apr 2, 2009
Swift has went down the tubes in the last five years.
ken

United States

#17 Apr 3, 2009
well vance most feel the same, some like thecapt have their head in the sand. in 2007 "standard and poors" scenario was bankrupcy in 2010 for swift, and 100% pay back. that was with 1% growth every year. we both know the last 3 months were a disaster for everyone. febuary they (standard and poors)felt that a second lien of 250 million would only pay back 0 to 10% of loan in bankrupcy. moodys have them on death watch, bottom 15 companies most likely to fail. all debt was downgraded.com pany drivers have unemployment to fall back on and they can hitch hike home. owner operators must be more careful, not worth the risk for me. been accepted to landstar and jumping now. 5 years, no accidents, no tickets, no service errors. accept 99% of preplans. so nice to go outside to anyone to get medical card. it was so easy. for swift, any problem with medical and we both know swift would ruin me.

“otr trucker”

Since: Feb 09

ionia mi

#18 Apr 3, 2009
Swift deserves to be shutdown,look at driving schools raided. Can't wait for it personally, companys own greed got them this. Least highways will be safer
Paula

Chicago, IL

#19 Apr 6, 2009
My husband has driven for Swift for over 10 yrs. and is an O/O who purchased his tractor through them. Tractor is long paid for. We are very annoyed at the rudeness of the driver managers and planners! Also, these weekends of NO work--sitting still for 3 days! Why don't they just get drivers close to home for those days? Poor, Poor planning by Swift. They don't give a rats ass about the little guy.
ALSO THEY CANCELLED THE HEALTH INSURANCE FOR OWNERS AND ONLY GAVE US MONTH NOTICE. NOW WE ARE STUCK W/O INSURANCE. I'M SENDING MY BILLS TO SWIFT!
ken

United States

#20 Apr 8, 2009
paula, can you make it if you lost your maint. account, bond, maybe 2 weeks settlements, no job,and he had to drive home with his own money? i read an article about a company that went under and they locked the terminial gates and impounded all trucks, owner operators with paid off truck did get them back, but had to go through the court or something, not right away.
scared for you drivers

Peoria, AZ

#21 Apr 30, 2009
I happen to know Mr. Stocking and now that he has taken over look out. He is good enough to get things turned around, he could sell ice to a eskimo. But he will use whoever he can and take credit for anything to make himself look good and put the blame for anything that does go wrong on someone else.

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