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Celadon Group, one of America’s largest trucking carriers, files for bankruptcy

Celadon Group, one of America’s largest trucking carriers, files for bankruptcy

The major Indiana-based trucking company with nearly 4,000 employees said Monday it filed for bankruptcy and will shut down all operations, just days after two former officials were charged in a fraud scheme. The firm has been trying to turn around its business in the wake of the accounting scandal that triggered a management overhaul as the company was seeking to recover from financial problems.

Kai
Kai
porcus
porcus 7 months

Never heard of Celadon....

Michael Hedderson
Michael Hedderson 7 months

White-collar crimes have a much greater impact than many generally recognize. Granted, nobody's dead or maimed, but thousands of lives have been thrown into chaos needlessly, because of the greed of 2 employees. 2 people, that's all it took to lead to the bankruptcy of a company employing 4000 people, which impacts their lives, and their family's lives (so you can probably assume 10,000+ people affected). And possibly in some districts where jobs are hard to come by, which may lead to upheaval. Clearly the company had problems, but it might have had a better shot at surviving the market downturn this year without being saddled with the crimes of these 2 scumbags.

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