Arrow Trucking

[adaniel]

Is anyone else following this?

Tulsa World: Arrow bankruptcy may leave creditors stranded

Tulsa World: Suit alleges fraud by Arrow

Tulsa World: Tulsa-based Arrow Trucking sued for fraud; files for bankruptcy

Tulsa sadly has had some spectacular business meltdowns this decade (Williams, WilTel, MCI, Citgo, Semgroup, etc.) but this one takes the cake as far as sheer ugliness is concerned.

Its a bit worrisome that regulators, after the whole debacle with banks over the past two years, are still missing flaming red flags like this. How many other companies in this state and nation are a dollar or two from collapse?

[oneforone]

Based on everything I read about this company, it looks like it was solid company until 2001 when the founder died. The wife and son drove it into the ground just like many other families have done with successful businesess.

[FFLady]

Yes, I was a follower of this story, the day it came about. I think it was the 22nd of Dec and the story then was all the drivers being stranded (so close to Christmas). I particularly enjoyed reading all the Reader's Comments. According to most, that Pielsticker dude is a piece of work.....

[mugofbeer]

Sounds like kind of the Penn Square Bank of trucking companies.

[Kerry]

This is beyond low.

“Several fathers had their wages garnished (for child support) by Arrow, which took out the money and didn’t send it to DHS (Oklahoma Department of Human Services),” Ingle said. “Parents are having problems seeing their kids."

Read more from this Tulsa World article at Tulsa World: Tulsa-based Arrow Trucking sued for fraud; files for bankruptcy

[FFLady]

I agree Kerry.....