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Forward Air shuts down with no notice

Mr. Mindless said:
Forward Air != Forward Air Solutions.

Looks like Forward Air isn't doing great either, but still kicking.
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This.

Forward Air that everyone is thinking about is still alive and kicking. There are several closely named companies, like Forward Air Solutions in OH or this one that was formerly Forward Air LLC in TN.
 
JD Mark said:
Equity firms are well known for sucking every last penny out of an established business and then selling it off because it is no longer profitable.
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Correct. But some will keep profitable growing companies. It depends on the PE’s mission.
 
ScottRS said:
Admin and the financial services provider have both been... interesting... to deal with. I'm not saying it's disappeared, but I will say that my trust in what is supposed to be impartial third party financial services level players, is not strong.
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Understood. Get the roll over paperwork and submit it. Do you have a place to roll it into? If not any financial services company will gladly take your business. Just call a few.

The thing I don’t know is who is required by law to help you. Is it the defunct company or the 3rd party managing/providing the 401k. Both have a fiduciary responsibility to protect and make positive changes to the funds. You can offer just crappy funds or withhold the money from people. It’s regulated
 
Poke said:
Understood. Get the roll over paperwork and submit it. Do you have a place to roll it into? If not any financial services company will gladly take your business. Just call a few.

The thing I don’t know is who is required by law to help you. Is it the defunct company or the 3rd party managing/providing the 401k. Both have a fiduciary responsibility to protect and make positive changes to the funds. You can offer just crappy funds or withhold the money from people. It’s regulated
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Rollover paperwork is long since submitted. Actual holder of the 401k is out of state, admin is a (former) HR employee of now defunct company. It's regulated of sorts, but the what-if is toothless. The IRS dictates how it's done but apparently not when, so they can do when they get around to it with little to no consequence. I'm still working on it and very glad it's only two years worth of 401k caught in there.
 
Forward Air is the only place that I ever seen a forklift driver with skills
Watched this guy pick up a pallet of (something) without letting off the throttle
didn't even stop, just hit it
absolutely WFO the whole time
it was impressive
and I started looking at my freight packing a bit differently after that :laughing:
 
SomeGuyFromOlympia said:
Forward Air is the only place that I ever seen a forklift driver with skills
Watched this guy pick up a pallet of (something) without letting off the throttle
didn't even stop, just hit it
absolutely WFO the whole time
it was impressive
and I started looking at my freight packing a bit differently after that :laughing:
Click to expand...


Spend a little time around a freight transfer yard and you'll realize how much you suck at driving a forklift.

I occasionally get stuff shipped LTL through Estes and almost always just run down to the terminal vs. waiting for them to deliver. I could spend hours just sitting in the terminal just watching those guys unload trucks and move pallets around. Truly impressive.
 
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