Flying "J" Going Bankrupt!

[amsoilman]

I just heard on the local news here in Utah, the Flying J Coporation (Headquarters about 20 minutes away from where I live) has announced they are filing for a Chapter 11 Bankruptcy!

 

[Gary - K7GLD]

JEEZE Wayne, that sure seems incredible - if THEY can't make in the fuel business, who CAN?

 

[LBARTLETT]

they probably hedged or contracted a bunch of fuel before the prices dropped and got on the wrong side of the market, one of the biggest ethanol producers just filed to get out of their corn contracts screwing all the farmers and elevators that had contracted corn to them, we'll see alot more of this

 

[DBoggs]

I'm sure that the oil and fuel prices are having a very large impact on their operation, but as a former employee of that worthless company I can't say I am surprised this has happened. I have expereinced first hand just how out of touch management is with reality. They waste money in ways that would make any sensible business owner tremble. I hope they survive though, if for no other reason than it would hurt a lot of OTR truckers and others that use the travel plazas when they are on the road. They sure need new management though.



And yes I can name names and cite real examples of my claims, however I will not do it on a public forum where I may be accused of slandering.



Duane

 

[amsoilman]

This is what was said:



On December 22, 2008, Flying J Inc. and its Big West refining and Longhorn Pipeline subsidiaries filed voluntary petitions to reorganize under Chapter 11 of the U. S. Bankruptcy Code. The filing was made with the U. S. Bankruptcy Court in Delaware.



The scope of the filing is limited to these operations only. It does not apply to other business units or affiliates, or the company's Canadian operations. In all cases, including those subsidiaries covered by the filing, Flying J's operations remain open and are conducting business as usual.



Even though Flying J has been a successful company, it faced near-term liquidity pressure from an unprecedented combination of factors: the precipitous drop in the price of oil and the lack of available financing from its traditional sources due to disrupted credit markets. With a sudden and unanticipated inability to meet its liquidity needs, the company had no other choice than a Chapter 11 filing to provide the time to work through a solution.



Flying J's objective is to move through the reorganization process as quickly as possible and to work toward a solution that will address its short-term liquidity needs and allow it to meet its past obligations in full.



More information about the company's reorganization is available at the following links:



Press Release

Vendor and Supplier Frequently Asked Questions

Customer Frequently Asked Questions

Claims Agent Link

 

[amsoilman]

I'm sure that the oil and fuel prices are having a very large impact on their operation, but as a former employee of that worthless company I can't say I am surprised this has happened. I have expereinced first hand just how out of touch management is with reality. They waste money in ways that would make any sensible business owner tremble. I hope they survive though, if for no other reason than it would hurt a lot of OTR truckers and others that use the travel plazas when they are on the road. They sure need new management though.



And yes I can name names and cite real examples of my claims, however I will not do it on a public forum where I may be accused of slandering.



Duane

Sorry you feel the way you do towards the Company! Apparently, you had a bad experience while being employed with them.

As far as management, I suppose there could be misguided employees, but if Jay Call the founder was around, I'm sure things would have been better as far as management. I knew Mr. Call, and he was a very compasionate man. In fact, when he got killed, he was flying one of his former employees and his wife back to their home in Idaho. The former employee's wife had just had some cancer treatment in Salt Lake City, and he was doing them a favor by flying them home.



Now don't take this wrong, as I am NOT getting after you, as you must have a legitimate reason for feeling the way you do, and that's OK!

 

[SWC]

I noticed the press release indicated that the Canadian side is not affected. Flying J expanded it's Canadian operations in the last 3 years. In the process they must have obtained the rights to distribute diesel fuel in Canada. Here in Western Canada all the Shell cardlocks and Shell stations catering to the trucking industry are listed on the Flying J website. The other interesting thing is they also dropped the price on diesel fuel. Husky, a Canadian company big into serving the trucking industry, had to drop its prices to match if they wanted any business. Today the diesel price in our town is about 10 cents a liter or roughly 40 cents a gallon higher then Flying J and Husky in Saskatoon. The price is 83. 5 cents a liter multiply that by 3. 85 to get the gallon price $3. 21.

Stan

 

[RJWEST]

They were always my stop of choice: That is until a few years ago,
they raised there diesel price higher than the rest of the Trk Stops. .
( My East Coast experience ).

So I got a Hess card and stop at Wilco ( 5% discount on Hess Fuel )

 

[AABEN]

A chapter 11 is a way to get all your ducks in line so you can stay in bassness.

 

[Grumpy John 4x4]

Flying J

Hard to believe they just recently bought the Shell refinery on the orther side of Bakersfield California!:--)

 

[R.ebel]

Here in Cheyenne the local Flying J had a problem with tank leaks and it was discovered that there was 8 ft of their product floating on top of the water table

 

[Cummins Cowboy]

something has been going on with them, used to be it was automatic that the local flying j would always have the best prices on fuel, however in the last year they have gone from that to being one of the higher priced stations, I haven't been buying much fuel from them in the last year. its defiantly a surprise, around here they get all their oil from local sources at no where near the price that others are paying for crude, however we have some of the highest fuel prices typically around, especially with diesel. one has to wonder if they leadership there has tanked because of the founders death

 

[courierdog]

The Letter I received from Flying J stated it would be business as usual. So far the fuel prices are still the best in the area. Some of the fuel outlets have employees who are less than they should be and do very inappropriate things causing negative customer reactions such as forcing customers to come inside to get fueling authorization or receipts during the coldest of days when the pump has full card authorization and receipting options. I report each and ever violation like this and for the most part the offending employees are eliminated quickly. This is not being mean it is business and Flying J is very quick to respond to protect their business. I lost a client because of this type of unnecessary delay. If they are having some credit issues I am confident it will be resolved as quickly as possible.

 

[JOdell]

I wonder if they will ask for a "bailout". Then the government will own a piece of the fuel business too.

 

[Greenleaf]

I believe it is the legal method to realign the company. They are now installing the diesel fluid to their fuel stations and that has got to set them back a ton.