Archive for June 13th, 2008

PTS Calls it Quits?

Friday, June 13th, 2008

Letter from Jeff Cornish President and CEO

To All PTS Employees

I’m sorry to Report that PTS has commenced the winding down of it’s operations

Read it here

http://www.pts-inc.biz

Thanks to one of our members on bringing it to my attention

From  Unemployed
Comment:
Quote from Jeff Cornish correspondence dated June 13, 2008:

“We are ceasing all operations and commencing to close PTS and its related companies effective today June 13, 2008″  For more see the PTS website.  All correspondence has been publically posted on the web site.

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Posted in Carhaul News, Contract, PTS, Teamsters | 8 Comments »

News and HeadLines Of Carhaul 6/13

Friday, June 13th, 2008

Car hauler drops motion to stop Teamsters strike

Andrew Grossman
Automotive News
June 13, 2008 - 3:32 pm ET

Performance Transportation Services Inc. today dropped its motion for an injunction to stop the Teamsters strike against the car hauler.

A spokeswoman for Performance Transportation Services said the move was related to negotiations with the Teamsters but declined to elaborate. A hearing on the motion had been scheduled for 2 p.m. today in U.S. Bankruptcy Court in Buffalo, N.Y.

Performance Transportation Services’ major creditors have asked a judge to convert the case to a Chapter 7 liquidation from a Chapter 11 reorganization.

A hearing on the motion is scheduled for Tuesday, June 17. At the creditors’ request, the judge in the case moved the hearing forward by almost a month. In court filings, the creditors said the strike has effectively dashed any hopes that Performance Transportation Services might have had of remaining viable.

More news………….

(more…)

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Posted in Carhaul News, PTS, Teamsters | 12 Comments »