Archive for June 14th, 2008

Teamsters Set Record Straight About PTS Shutdown

Saturday, June 14th, 2008

Lenders Pull Plug on Company

June 10, 2008

PTS announced today that it was shutting down, effective today, and Teamster carhaul negotiators are setting the record straight about the company’s demise.

“In its announcement, PTS suggested that our failure to accept its most recent proposal led to the closure, but nothing could be further from the truth,” said Fred Zuckerman, Teamsters Carhaul Director. “We learned this afternoon that PTS permanently closed its doors after its primary lenders, Black Diamond Capital Management, cut off access to its credit facility earlier this week.

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“PTS employees should contact their local union for additional information regarding work opportunities and other assistance that may help them,” Zuckerman said. “The union will send additional information to the local unions as we learn more about which carriers may be serving the auto manufacturers in your area the future.”

Posted in Carhaul News, PTS, Teamsters, UNION | 4 Comments »