A Legend Lost: Trism, Inc

2000 Trism Blues

2007-03-28T07:16:00.000-05:00

Source: http://www.ahern-ltd.com/advisory/2001-04.pdf

Yep, Poor COB Tom Krasner had to play Russian Roulette with these guys twice a Month after January 2001... He didn't Catch a Bullet until early September 2001-- right before 9/11. Definitely, not an Event you Look Forward to.

Remember Dennis of Tyco? Well, He finally Got His in the End ;-)

Watch the Trism Slideshow

2006-04-13T07:39:00.000-05:00

Watch the Trism Slideshow

Once A Huge, Proud Company

2005-12-31T03:18:00.000-05:00

Planes, Trains, Cargo Ships, & Trucks... This Used to be a Serious Business...

Equal Opportunity Employer too

Just a Few of the Little Things We had Done...

We were Poised to Pass the $1 Billion Mark during this Time Period...

Well Hello, Bedrock Inc Dba Tsmt

2005-11-18T09:11:00.000-05:00

I hope you have enjoyed your 2 hours 46 mins 46 secs visit.

Do I know you?

Regards,
M

PS: Spread the word and build up the membership in the Trism Forum.

Delta Dawn?

2005-09-14T08:25:00.000-05:00

Now, PLEASE tell me what is wrong with this picture?
Another One Bites The Dust in GEORGIA!
This town has about as much Imagination as a Toad...
Furthermore, The Bush Administration in it's ZEAL for Homeland Security has about as much Imagination as the MUD the Toad sits in...

Report: Delta bankruptcy filing may come this week...huh, like TODAY!

Let's all sing along together, if you please...

Delta Dawn
By Helen Reddy

Delta Dawn, what's that flower you have on?
Could it be a faded rose from days gone by?
And did I hear you say he was a-meetin' you here today
To take you to his mansion in the sky-eye?

In her younger days they called her Delta Dawn
Prettiest woman you ever laid eyes on
Then a man of low degree stood by her side
Promised her he'd take her for his bride

Grinstein is not Grinning Now

She's forty-one and her daddy still calls 'er "baby"
All the folks 'round [Atlanta] say she's crazy
'cause she walks downtown with her suitcase in her hand
Lookin' for a mysterious dark-haired man [a Banker with HUGE pockets]

Delta Dawn, what's that flower you have on?
Could it be a faded rose from days gone by?
And did I hear you say he was a-meetin' you here today
To take you to his mansion in the sky-eye?

Footnote:

What does Gerald Grinstein have in common with Trism's prior senior management team?

Simple. They all came and went from Burlington Northern.

Source: Delta.com.

Gerald Grinstein has served as Delta's Chief Executive Officer since January 2004. He was non-executive Chairman of the Board of Agilent Technologies, Inc. from August 1999 until November 2002. He served as non-executive Chairman of Delta's Board of Directors from 1997 until 1999. Mr. Grinstein was Chairman of Burlington Northern Santa Fe Corporation (successor to Burlington Northern Inc.) from September 1995 until his retirement in December 1995, an executive officer of Burlington Northern, Inc. and certain affiliated companies from 1987 through 1995, and Chief Executive Officer of Western Air Lines, Inc. from 1985 through March 1987. He has been a director of Delta since 1987. He is also a director of PACCAR, Inc. and The Brinks Company. Age 72.

I wish the Board or Gov. Perdue or The White House would just pick up the phone and say,

"Mike, Can you spare a hour or so and meet with me to discuss a strategy to overcome this mess at Delta?"

And I would say, "Sure. I'll be there in about 45 minutes... hold the Door."

And here is the solution I would hand them, all nice & wrapped with a BOW on top,

This Used to be the Gold Standard of Aviation for 25 Years.
Link: http://ltalogistics.blogspot.com

My May-Day Fax to the White House

2005-01-03T11:36:00.000-05:00

It was more than a month after 9/11 and the phone started to ring off the hook in Joplin, Missouri, the home of TSMT (TriState Motor Transport) since the 1930's. Tsmt had suffered greatly after the Gulf War's military drought that was imposed during the Clinton Administration in order to pay off our country's deficit.

Secondly, Tsmt's holding company, Trism, Inc., wasn't doing very well after 1998 either. Trism struggled to hold on and maintain its investments and assets during these difficult times for another 3 years until early September 2001 when Trism shutdown 2/3rds of its enterprise worth $275 million.

So, once again the White House needed us, and needed us in a big way for the Afghanistan invasion; therefore, I took the opportunity to try to obtain somekind of assistance from the Bush II administration to keep my company alive by this initial fax,

My May-Day Fax To The White House Deputy Chief of Staff, Joe Hagin

President Bush, Sr's "Thank You" letter to Tsmt after the Gulf War

I thought by including this letter from the current President's father that it might see the light to right people that would be friendly and willing to do whatever it took to help us succeed, since we hauled about 80% of the DOD's munitions & assets.

That call never came, so I picked up the phone and started digging around the President's White House Staff. Well, whoever I talked was definitely not Joe Hagin nor Andrew Card, and nor was he very friendly at all. But he knew who I was and where I was calling from and yet he still didn't get the big picture. Instead he was rather useless and very rude and just flat-out asked me, "What do you want?".

I patiently explained our situation, hoping all the while he wouldn't hang up, so I tried to keep it lively.

In the end I don't think either one of us were impressed with one another, and we never spoke again to the White House, directly.

Many years later after the Enron affair between Bush II & Ken Lay, I didn't feel so bad about the treatment we received versus the treatment Lay & Enron received.

Take This Waltz

2004-08-06T08:35:00.000-05:00

By Leonard Cohen
(My modified version)

Now in the Trism tomb there are ten lost executives
There's a shoulder where Death comes to cry
There's a lobby with nine hundred windows
There's a tree where the doves go to die
There's a piece that was torn from the morning
And it hangs in the Gallery of Frost

Ay, Ay, Ay, Ay
Take this waltz, take this waltz
Take this waltz with the clamp on its jaws

Oh I wonder, I wonder, I wonder about you
On a chair with a dead magazine
In the cave at the tip of the lily
In some hallways where mahogany's never been
On a bed where the moon has been sweating
In a cry filled with footsteps and shifting sand

Ay, Ay, Ay, Ay
Take this waltz, take this waltz
Take its broken waste in your hand

This waltz, this waltz, this waltz, this waltz
With its very own breath of brandy and Death
Dragging its tail in the sea

There's a concert hall in the Trism tomb
Where your mouth will have a thousand reviews
There's a bar where the boys have stopped talking
They've been sentenced to death by the blues
Ah, but who is it climbs to your image
With a garland of freshly cut tears?

Ay, Ay, Ay, Ay
Take this waltz, take this waltz
Take this waltz it's been dying for years

There's an attic where board members are playing
Where I've got to lie down with you soon
In a dream of Hungarian lanterns
In the mist of some sweet afternoon
And I'll see what you've chained to your sorrow
All your sheep and your lilies of snow

Ay, Ay, Ay, Ay
Take this waltz, take this waltz
With its "I'll never forget you, you know!"

This waltz, this waltz, this waltz, this waltz ...

And I'll dance with you all again in the Trism tomb
I'll be wearing a river's disguise
The hyacinth wild on my shoulder,
My ears listening to the dew of your sighs
And I'll bury my soul in a scrapbook,
With the photographs there, and the moss

And I'll yield to the flood of your legendary beauty
My cheap violin and my cross
And you'll carry me down on your dancing
To the chains that you lift on your wrist

Oh my bonds, Oh my bonds
Take this waltz, take this waltz
It's yours now. It's all that there is

Now, here some samples to make you giggle like I did:

Windows Media
Wave File
Real Audio

Joplin, Mo.-Based Hauler of Hazardous Materials Files for Chapter 11

2004-07-18T10:15:00.000-05:00

RDS Business & Industry, December, 2001
By Dan Margolies

The parent company of Joplin, Mo.-based Tri-State Motor Transit Co., the nation's largest transporter of munitions, explosives, hazardous materials and radioactive waste, filed for Chapter 11 protection Tuesday.

Trism Inc., along with Tri-State and 12 other Trism subsidiaries, sought refuge in the U.S. Bankruptcy Court in Kansas City, citing rising fuel prices, escalating insurance premiums and reduced shipping demand.

Tri-State continues to operate while Trism seeks to negotiate the sale of its assets to a Joplin area businessman.

Trism, a public company based in Kennesaw, Ga., acquired Tri-State in 1990. Trism later acquired other carriers specializing in transporting heavy machinery and equipment. The company listed $155 million in assets and $149 million in liabilities in its Chapter 11 petition. ...

Want to read the whole article? You can purchase it here. It's quick and easy.

Oak Ridge Fleet Ad

2004-07-18T09:32:00.000-05:00

TSMT Brochure regarding Oak Ridge, Tennessee capabilities.

Trism Files Chapter 11 Again; Krasner Out as President, CEO

2004-07-18T09:10:00.000-05:00

Updated on 12/18/2001 - 3:00:00 PM EST

Trism Inc. (TSMX), a transporter of secured materials, has filed for Chapter 11 bankruptcy protection on Tuesday, the same day it announced the Dec. 13 resignation of Thomas P. Krasner as president and chief executive officer.

The reorganization is the second in two years for the Kennesaw, Ga.-based company, which is ranked No. 53 on the 2000-2001 Transport Topics 100 list.

“Several factors led to the company's Chapter 11 filing, including high fuel costs for recent periods, difficulty in obtaining qualified drivers, industry-wide increases in insurance premiums and reduced shipping demand,” the company said in a release.

Trism, which specializes in hauling environmental and secured materials such as hazardous waste, explosives, military munitions and radioactive materials, said it expects to operate as debtor-in-possession and continue to conduct business as usual while it seeks to sell its assets.

The company has named Ralph S. Nelson as the new president and chief executive officer. Krasner will remain chairman of the board at Trism, the company told Transport Topics.

Nelson had been the company’s vice president and general counsel.

The board has also named Tom McGoldrick as vice president and chief financial officer.

Trism declared a $9 million loss in the third quarter on sales of $34.2 million. It has not been profitable for two years, Bloomberg reported.

In July, the company cut an unspecified number of jobs and stopped hauling general freight and hazardous waste. In August, Trism closed its Specialized Division, which carried heavy freight.

The company filed for bankruptcy protection in U.S. Bankruptcy Court for the Western District of Missouri. Trism has a large office in Joplin, Mo.

By Sean McNally
Staff Reporter

Trism Sells Logistics Company

2004-07-18T09:06:00.000-05:00

Updated on 9/10/01 - 8:44:00 AM EST

Glenn Kavanagh said Monday that he and Lisa McConnell have bought back the logistics company they sold to Trism Inc. in 1995.

Trism, which has recently restructured and closed its Specialized Division, is now left mainly with its Secured Division -- which handles radioactive materials, government munitions and commercial explosives.

The new logistics company will be named Kavanagh Logistics Inc. and will remain a third party logistics provider specializing in extra-large and heavy freight transportation management. Transport Topics

Trism to Close Specialized Division

2004-07-18T09:04:00.000-05:00

Updated on 8/22/01 - 8:50:00 AM EST

Trism Inc. (TSMX), a transporter of secured materials, said that it is closing its Specialized Division, which transports heavy and over-dimensional materials.

The division will stop picking up shipments at the end of business on Wednesday.

The Kennesaw, Ga.-based company also said that it is planning to close terminal facilities, sell trailers and terminate most drivers and non-driver personnel associated with the Heavy Haul portion of the division. Transport Topics

McCormick Backing Off Plans to Buy Trism

2004-07-18T09:02:00.000-05:00

Updated on 8/30/01 - 8:36:00 AM EST

The restructuring of Trism Inc. (TSMX) into a truckload carrier specializing in hazardous freight has caused Edward L. McCormick, the company’s former chairman and chief executive, to retreat from his plan to purchase a controlling interest in the firm.

On Aug. 22, the financially troubled Kennesaw, Ga.-based corporation announced it was paring back its presence as a hauler of heavyweight and extra-large freight, by closing what it calls its Specialized Division. In 2000, the company also sold its Super Heavy Haul Division.

“The closure of the [Specialized] Division reduces the revenue base of the company by more than 50%,” McCormick said from his home in nearby Marietta, Ga.

“This dramatically changes my interest level. I’m going to back off for the time being until I can get a better feel, and maybe I’ll step back in later,” he said.

Company Lawyer Ralph Nelson said Trism is not entirely closing its operations for large and heavy freight. He said Trism will maintain “a modest presence” in those lines.

In addition to its asset-based trucking operations, the corporation also has a logistics division that is still operating. However, a source familiar with the company said that the logistics division could possibly end up being sold within the next six months.

Nelson said the company is currently focusing on its Secured Division, which he said has been its most profitable business. The Secured Division hauls hazardous waste, government munitions, commercial explosives and radioactive waste. Its most prominent recent contract is a five-year, $10.2 million deal to haul radioactive waste for the Department of Energy, which Nelson said is still in place.

As for his plans, McCormick said he may come back to Trism at some point in the future, but right now he is looking at other truckload investment options. He said he is particularly interested in specialized truckload fleets, rather than what he called “generic flatbed and dry van” operations.

By Jonathan S. Reiskin
Staff Reporter

Handle with care - Trism, hauler of military ammunition and explosives

2004-07-18T09:00:00.000-05:00

Fleet Owner Magazine
By Deborah Mcguffie, July, 2001

Fleets exercise caution in hauling sensitive military cargo

Transporting arms, ammunition and explosives for the military is a major part of Trism's extensive North American operations, which also include heavy hauling and hazardous-materials transport. In fact, the Trism Secured Transportation group--the munitions and hazardous-materials arm of Trism--has more than 25% of the military munitions market.

The carrier got its start in truck transportation in 1990 when it acquired Tri-State Motor Transit. Today, Tri-State and two additional Trism operating companies--Diablo Transportation and C.I. Whitten Transfer Co.--make up the Trism Secured group.

On the munitions side, there are 215 tractors and 674 trailers at the disposal of Trism Secured, for which 339 company drivers and 86 owner-operators haul freight. According to Eddie Prince, senior vp-maintenance and equipment purchasing, the munitions division utilizes all 42 of Trism's nationwide terminals and drop yards, which include 7 such maintenance facilities.

"The military is very strict about equipment and driver safety," Prince explains. "Trism Secured's tractors are required to have larger-than-average fire extinguishers both in and outside the cab. Explosives are often moved on "twistlock" trailers, which have built-in fasteners that lock preloaded containers into place. Munitions are carried in vans that are locked and sealed by the shipper according to military specifications.

A number of security measures must also be provided by carriers hauling military freight classified as "secret," including all munitions. "Our power units, for example, are equipped with Qualcomm two-way satellite communications systems with a panic button linked directly to the military," Prince reports.

Prince also points out that two drivers are always used for these types of shipments; during stops, only one member of the ream leaves the truck at a time so the cargo is never left unattended. The only exception is for stops at approved revetted areas with full-tine security available such as at Trism's Joplin, MO, facility.

"Sensitive freight is policed by the military very closely," Prince says. "They routinely send unscheduled escorts to follow our trucks and monitor our performance and compliance with regulations. You simply have to have the best drivers on these types of high-security runs."

COPYRIGHT 2001 PRIMEDIA Business Magazines & Media Inc. All rights reserved.
COPYRIGHT 2003 Gale Group

Trism in Early Sale Talks; Adopts Rights Plan

2004-07-18T08:59:00.000-05:00

Updated on 4/27/01 - 11:50:00 AM EST

Kennesaw, Ga.-based Trism Inc. (TSMX), a flatbed trucking company that hauls specialized heavy loads and hazardous materials, said Friday it “is currently in preliminary discussions with third parties who have expressed an interest in acquiring all or substantially all of the assets of Trism.”

The company made the comment as it announced that its board has adopted a “stockholders’ rights plan.” Such plans are sometimes referred to as “poison pills,” because they can make it harder for outside groups to take control of a company by suddenly buying up large chunks of stock.

Its Friday announcement added that a group led by its former chairman and chief executive, Edward McCormick, “has claimed to have entered into an agreement to acquire the shares of common stock and senior subordinated notes due 2005” now held by a financial institution that is Trism’s largest stockholder and noteholder.

As previously reported by Transport Topics, McCormick had led the company out of a 1999 bankruptcy during February 2000, but then had a difficult time witH members of the board. He left the company last October.

Trism operates a pool of more than 1,700 tractors and 4,000 trailers throughout North America. It is ranked No. 56 in the Transport Topics 100 list of U.S. trucking companies, based on 1999 data.

By Transport Topics

Wall Street Mumbo Jumbo

2004-07-18T08:57:00.000-05:00

TRISM INC: Defaults on Bond Covenants & Posts Q1 2001 Losses
By the Troubled Company Reporter
Monday, July 9, 2001, Vol. 5, No. 132

Trism, Inc., has incurred net losses of $4.5 million, $11.8
million, $18.4 million and $7.4 million during the quarter ended
March 31, 2001 and the years ended December 31, 2000,
1999 and 1998, respectively. The Company had been faced with a
variety of operating challenges, including, among others,
escalating fuel costs, an increase in insurance costs, the
ability to attract and retain qualified driving employees, and a
reduced shipping demand given present domestic economic
conditions. These factors have significantly impacted, and
continue to significantly impact, the Company's liquidity.

The Company is presently in default of certain covenants related
to its Senior Subordinated Notes Due 2005 and has not made its
most recent interest payment relating to such notes, which was
due March 15, 2001. Under the terms of the New Notes, the
Company had a thirty-day grace period on this interest payment
before the note holders can call the New Notes. The Company did
not make the interest payment of $1.86 million on April 15 and
this constituted an Event of Default under the terms of the
indenture pursuant to which the New Notes were issued. The total
arrearage as of May 21, 2001 is $1.91 million, including
interest at 13% on the past due amount. In addition, beginning
in October 2000 the Company has also been in default of certain
covenants relating to its revolving credit facility. Since that
time, the Company has negotiated several forbearance agreements
with the lender for the Revolver, the terms of which have
included payment of fees in exchange for such forbearance, as
well as an increase in interest rates under the Revolver and a
reduction in borrowing capacity. The most recent forbearance
expired on June 4, 2001. The Company has been negotiating with
its lender for a continued extension of the forbearance
agreement, however, such extension is not assured. The Company
is also in technical default on certain of its equipment debt
and is several months behind in making certain of its equipment
debt payments.

These matters raise substantial doubt about the Company's
ability to continue as a going concern. The Company's continued
existence is dependent on several factors, including the
Company's ability to overcome the operational and liquidity
issues discussed above. The Company's near and long term
operating strategies focus on exploiting existing and potential
competitive advantages while eliminating or mitigating
competitive disadvantages. In response to current market
conditions and as a part of its ongoing corporate strategy, the
Company is pursuing several initiatives intended to increase
liquidity and better position the Company to compete under
current market conditions. The Company has closed and reduced in
size its network of terminal facilities throughout the United
States and also reduced the number of non-driver employees.
Sales and marketing efforts have been augmented by increasing
the number of customer service personnel, increasing the number
of outside sales personnel, and establishing an outbound
telemarketing effort. Accounts receivable collection efforts
have been expanded by the addition of collection personnel
staff.

On March 9, 2001, the Company announced the Board of Directors
had engaged the Carreden Group, Inc., investment bankers located
in New York City, as financial advisor to explore strategic
alternatives. With the assistance of Carreden Group, the Company
is currently exploring alternative financing to replace the
Revolver and is also engaged in preliminary discussions with
potential purchasers of substantially all of the Company's
assets who have indicated their interests in pursuing such a
transaction. There can be no assurances that the Company will be
successful in accomplishing either of these objectives.
Moreover, the consummation of either of these alternatives may
require a restructuring of the Company's existing indebtedness.
In order to effect any such sale or restructuring of its
indebtedness, it may be necessary for the Company to file for
protection under Chapter 11 of the Bankruptcy Code.

On April 18, 2001, the Board of Directors authorized the
retention of Transport Management, a trucking management firm,
to assist in the management of the Company. Existing credit
facilities are not expected to be sufficient to cover liquidity
requirements for the next twelve months and the Company is
facing the prospect of not having adequate funds to operate its
business. Due to a number of uncertainties, many of which are
outside the control of the Company, there can be no assurance
that additional credit facilities can be arranged or that any
long term restructuring can be successfully initiated or
implemented, in which case the Company may be compelled to file
for protection under Chapter 11 of the Bankruptcy Code.
Moreover, it may be necessary for the Company to file under
Chapter 11 to implement any consensually negotiated
restructuring of its indebtedness or a sale of the Company as
discussed above.

Net loss for the quarter ended March 31, 2001 amounted to $4.5
million, or $2.24 per basic and diluted share, compared to a net
income of $2.1 million, or $0.37 per basic and diluted share, in
the first quarter of 2000. First quarter operating results were
negatively impacted by lower asset productivity and fewer miles
driven in both the Heavy Haul and Secured segments.
Additionally, the Heavy Haul segment was negatively impacted by
a decline of $0.6 million in brokerage revenues.

Operating revenue decreased $6.5 million, or 9.4% from the first
quarter 2000 to 2001. Revenue per loaded mile increased to $1.85
for the quarter ended March 31, 2001 from $1.81 for the quarter
ended March 31, 2000, excluding brokerage, Super Heavy Haul and
fuel surcharge revenues. Operating revenues were impacted by a
decline in total miles driven of approximately 4.5 million from
the first quarter of 2000 to 2001, which can be attributed to
lower asset productivity and a reduction in total tractor count.

Operating income for the three months ended March 31, 2001
decreased $2.5 from the three months ended March 31, 2000. The
following factors negatively affected operating income: (a)
miles driven declined by approximately 4.5 million miles; (b)
insurance cost increased by $0.049 per mile; (c) contractor
equipment costs increased by $0.044 per mile; (d) company driver
wage costs increased by $0.034 per mile; and (e) maintenance
costs increased by $0.019 per mile. The decline in revenues and
increase in certain variable costs in the first quarter of 2001
were partially offset by lower fixed freight operating costs of
$1.9 million. The reductions resulted from a reduced tractor and
trailer fleet size and lower equipment rental expenses as a
result of the sale of Super Heavy Haul in 2000.

Trism Controller Leaving Company

2004-07-18T08:56:00.000-05:00

Updated on 4/6/01 - 9:00:00 AM EST

Trism Inc. said Friday that David Harris has resigned as vice president and controller to accept a position with another trucking company.

In addition, Gerald Hendren has joined the Kennesaw, Ga.-based company as a financial consultant. He formerly was the chief financial officer of Tri-State Motor Co.

Trism is ranked No. 56 in the Transport Topics 100 list of U.S. trucking companies, based on 1999 data. Transport Topics.

MTMC encourages truckers to make faster transshipments - Speeding the freight - Military Traffic Management Command - Brief Article

2004-07-18T08:55:00.000-05:00

Translog: Journal of Military Transportation Management, March-April, 2001

The last time it was the Military Traffic Management Command's ocean shippers who heard the message.

This time, it was the truckers.

Veteran transporter Frank Galluzzo was on the road again.

The message from the Director, Distribution Analysis Center, to the Government Traffic Policy Committee of the American Trucking Association was the same: Join MTMC in attempting to identify and eliminate time lost at transshipment points.

"We want trucks in and out (of depots)," said Galluzzo, at the Feb. 13 meeting at a Crystal City, Va., hotel conference room.

The process of identifying lost time at nodes is the heart of the Strategic Distribution Management Initiative. The overall effort is by the U.S. Transportation Command and the Defense Logistics Agency.

The goal of reduced shipping time is a crusade for Galluzzo.

There have already been big results.

Dozens of days have been cut from total shipping times from the United States to both Europe and Southwest Asia.

The average time for a shipment order and receipt of freight between the U.S. and Europe is now 56 days. Galluzzo's goal is 40 days.

The military and government are part of the blame for slow truck deliveries, said Committee Chairman Tom Boyle, President, Boyle Transportation, Billerica, Mass.

"I don't know of any other industry in America that manages with a four-day work week," said Boyle.

If connections are missed, some truck deliveries are delayed three days, he said, due to a long government weekend.

MTMC will seek solutions with any military service, Defense Logistics Agency or General Services Administration facility where there is a delivery problem, said Galluzzo.

Boyle presented Galluzzo with his first challenge.

Look at Crane Division, Naval Surface Warfare Center, a weapons' testing facility in Crane, Ind., said Boyle. Separate military commands have different work schedules. The Army works a five-day week while the Navy works a four-day week.

Galluzzo countered, "We don't want trucks waiting around."

Boyle said flexible work schedules for federal workers are a big problem nationwide for truck deliveries.

"When you call so many places, no one answers the phone," said Boyle.

"It is unbelievable. It's not just the Department of Defense--it is the government."

Boyle said federal agencies should return to a five-day workweek.

He had another suggestion: Deliveries could be speeded up using e-mail to make unloading appointments.

A briefing on MTMC's new automatic fuel surcharge adjustment was provided by Ruth Tetreault, Program Coordinator.

"This is a far better program than you had before," said Jim Knight, Director of Government Traffic, of TRISM, of LaPlata, Md.

The program goes into effect April 1.

COPYRIGHT 2001 U.S. Military Traffic Management Command
COPYRIGHT 2003 Gale Group

New CEO, COO for Trism

2004-07-18T08:54:00.000-05:00

Updated on 1/31/01 - 8:35:00 AM EST

Trism (TSMX) – a trucking company that specializes in flatbed, and heavy weight hauling – said that Chairman Thomas Krasner has also been named chief executive officer, and Warren Knight named as chief operating officer. The officials who previously held those jobs stepped down last October.

Trism also announced that the company's senior lender, CIT Business Credit, has agreed to increase its credit availability by $1.7 million. The Kennesaw, Ga.-based company emerged from Chapter 11 bankruptcy protection in February 2000. Transport Topics

Trism CEO, CFO Step Down

2004-07-18T08:52:00.000-05:00

Updated on 10/19/00 - 3:02:00 PM EST

Kennesaw, Ga. heavy hauler Trism Inc. announced Thursday that company President, Chairman and Chief Executive Officer Edward McCormick and Chief Financial Officer James Overley have both resigned from those positions.

Thomas Krasner has been appointed chairman of the board. Trism's board of directors also engaged Los Angeles-based financial advisors Kirkland Messina Inc. to provide management assistance as they seek a replacement for McCormick and Overley.

Overley accepted the position senior vice president and chief financial officer of Transit Group Inc. Transport Topics

Lenders Extend Waiver of Loan Covenants for Up to 60 Days; Company Names James G. Overley Chief Financial Officer

2004-07-18T08:51:00.000-05:00

ATLANTA--(BUSINESS WIRE)--Oct. 17, 2000

Transit Group, Inc. (Nasdaq Small Cap:TRGP) today announced that lenders for the Company's credit facility have extended a waiver regarding the Company's non-compliance with certain financial covenants of that agreement for up to an additional 60 days. The lenders have granted this new extension so that negotiations may continue with respect to amending the credit agreement in a way that will provide Transit Group greater flexibility to operate in the current industry environment. Subject to the Company's compliance with certain conditions, including the continued remittance of interest payments, the waiver is now set to expire on December 15, 2000.

The Company continues to believe that its negotiations with lenders toward an amended credit agreement are proceeding in a positive and constructive manner. However, the Company can offer no assurances that the parties will complete these negotiations and finalize an amended agreement by the new expiration date. As previously announced, the Company has not been in compliance with certain financial covenants of its the credit agreement since March 31, 2000, under which approximately $99 million was outstanding at that time and under which approximately $105 million currently is outstanding.

Separately, Transit Group announced that, effective October 30, 2000, James G. Overley (age 36) will become Senior Vice President and Chief Financial Officer of the Company. Overley joins Transit Group from Trism Inc., the nation's leading transportation company specializing in the transportation of heavy weight, over-dimensional, environmental, and secured materials. "We are very pleased to announce this important addition to our senior management team," said Philip A. Belyew, President and Chief Executive Officer. "Jamie brings to our Company a strong background in financial and operational management, reflecting both his direct industry experience as well as a broad business perspective provided by his years in public accounting. Familiar with all phases of financial management, including financial and organizational restructurings, systems integration, equipment and capital financings, and cost reduction programs, we believe he is well-qualified to assume a leadership position within our Company as we work to improve Transit Group's operations in the face of a difficult industry environment."

Overley, a CPA, began his career at KPMG, one of the "Big Five" accounting and auditing firms in the U. S., following his graduation from Indiana University. For the past 10 years, he has worked in the trucking industry, first with Burlington Motor Holdings and, since 1996, with Trism.

Transit Group, headquartered in Atlanta, is a holding company in the business of consolidating short-, medium- and long-haul trucking companies, particularly truckload carriers. Through its affiliates and agents, the Company provides shipping services throughout most of the continental United States and in Canada. Transit Group can be reached on the World Wide Web at www.transitgroup.com.

Statements in this release that are not strictly historical are forward-looking and are based upon current expectations that may differ materially from actual results. These forward-looking statements, identified by words such as "intend," "believe," "appears" or "expect," or variations of such words or similar expressions, involve risks and uncertainties which could cause actual results to differ materially from those anticipated by the statements made herein. These risks relate to, among others, the challenges of a highly competitive industry, the execution of the Company's consolidation strategy, Transit Group's ability to amend its bank credit facility or negotiate additional waivers of certain covenants to the current bank credit facility, and the possible costs and concessions that may be associated with such amendments or waivers. There can be no assurance, considering these and other risks, that the Company's revenues will continue to meet management's current expectations, that the Company will successfully improve its operating profitability, consummate future acquisitions, or that the Company will be able to amend its bank credit facility to reflect current operating and industry conditions.

COPYRIGHT 2000 Business Wire
COPYRIGHT 2000 Gale Group

Judge OKs Trism Reorganization

2004-07-18T08:50:00.000-05:00

Updated on 12/20/99 - 9:50:00 AM EST

Trism Inc., a Kennesaw, Ga.-based specialized trucking group, is set to emerge from Chapter 11 bankruptcy after a judge approved the company’s reorganization plan on Dec. 9.

Under the plan, holders of $86.2 million in senior subordinated debt from Trism will receive 95% of new common stock in the company, along with a promise to repay $30 million in new subordinated debt due in 2004. Existing stockholders will own the remaining 5% of Trism’s equity.

Trism stopped making interest payments on its bonds in June.

President Edward L. McCormick said the reorganization plan will significantly reduce its long-term debt, pay all trade debt in full and allow the existing management to continue operating the business.

By Daniel P. Bearth
Staff Writer

Trism Announces Debt Agreement

2004-07-18T08:48:00.000-05:00

Updated on 9/10/99 - 4:10:00 PM EST

Trism Inc. of Kennesaw, Ga., announced an agreement with bondholders to exchange $86.2 million in debt for a combination of new debt and stock.

The U.S. Bankruptcy Court must review and approve plans from the company, which operates several subsidiaries that handle oversized and overweight freight as well as munitions and hazardous materials.

Trism President Edward L. McCormick said the agreement will permit the company to satisfy all trade and leasing obligations under existing terms and significantly reduce its long-term debt.

Under the restructuring plan, bondholders will exchange 10.75% senior subordinated notes due in the next year for $30 million in notes that will pay 12% interest due in 2004. Bondholders also will receive 95% of new common stock in the company. The existing common stock will converted into 5% of the new common equity.

McCormick said the debt restructuring will permit management to "continue the revitalization of our operations with a solid balance sheet and a sound capital structure."

By Daniel P. Bearth
Staff Writer

Trism Agrees to Restructure Debt

2004-07-18T08:46:00.000-05:00

Updated on 7/20/99 - 10:15:00 AM EST

Trism Inc., Kennesaw, Ga., reached an agreement in principle to restructure its long-term subordinated debt.

The agreement gives bondholders a 95% stake in Trism while significantly reducing the company’s long-term debt. The deal also allows the truckload carrier to pay all other debt in full and to satisfy trade and leasing obligations in accordance with their terms.

Under the agreement, holders of the company’s $86.2 million of 10.75% senior subordinated bonds will receive $30 million of new notes due 2004, with an interest rate of 12% annually.

In addition, bondholders will receive 95% of new common stock to be issued in Trism. The company’s existing common stockholders will get 5% of the new equity.

The plan also includes a management stock incentive program.

Company officials said the agreement will likely require the approval of the U.S. Bankruptcy Court.

“We are extremely pleased to announce this agreement,” Trism President Edward L. McCormick said in a statement. “This consensual reorganization allows Trism to accelerate the marketing, operations and financial strategies which we believe will improve our company’s growth and profits.”

Trism skipped an interest payment on its existing bonds on June 15 (6-21, p. 3). The company owns several subsidiaries that haul specialized loads, hazardous materials and munitions.

By Daniel P. Bearth
Staff Writer

TRISM Introduces PowerTrack Program

2004-07-18T08:44:00.002-05:00

KENNESAW, Ga.--(BUSINESS WIRE)--June 9, 1999--

TRISM, Inc., announced today that effective immediately it would begin participation in the Department of Defense's (DoD) PowerTrack(sm) program. PowerTrack is the DoD's Internet-based freight payment and supply chain management service and is the standard method the DoD will use to pay its contracted carriers for the Army, Air Force, National Guard, Defense Logistics Agency (DLA), and U.S. Transportation Command.

PowerTrack will help the DoD and over 600 carriers dramatically streamline the process of paying freight bills for 12 million shipments annually. The program will also replace all paper-based and EDI/EFT freight payment processes currently in place. The DoD departments covered by this agreement incur approximately $1 billion in freight expenses annually and will use PowerTrack for most transportation modes including: TL/LTL, express, air freight, and intermodal container.

"Our early and total company-wide participation in the PowerTrack program demonstrates TRISM's commitment to working with our customers to provide solutions to their business challenges," said Paul Newbourne, vice president, marketing for TRISM. "We understand that the DoD will require use of PowerTrack on future business, consequently, we expect that our participation in the program will also favorably position TRISM for increased business opportunities from the DoD."

PowerTrack is an e-business solution introduced by U.S. Bank in April, 1998. It is a completely electronic freight payment service that dramatically reengineers the payment process by totally eliminating all manual, paper-based steps. Shippers and carriers who use the PowerTrack service realize significant administrative cost savings and have access to detailed shipment information across all trading partners, throughout the system's advanced web-based reporting capabilities.

"This is a prime example of government partnering with business and applying commercial best practices to the federal government," said Dr. John Hamre, Deputy Security of Defense. "By adopting PowerTrack as our standard, we'll achieve our goals in the areas of process improvement, paperwork reduction, and cost control."

"We are very pleased that TRISM has chosen to come on board with the PowerTrack service," added Rick Langer, vice president of business development for U.S. Bank's Interactive Commerce Group. "TRISM has proven themselves over and over again as an innovator in the use of technology that is designed to better serve their supply chain partners while enhancing their operational efficiencies. PowerTrack is yet another competitive benefit TRISM can now offer its customers."

Minneapolis-based U.S. Bancorp (NYSE:USB), with $76 billion in assets, is the 14th largest bank holding company in the nation and operates approximately 1,000 banking offices in the Midwest and West. The company provides comprehensive banking, trust, investment and payment systems products and services to consumers, businesses and institutions. It operates a network of 5,300 ATMs and provides 24-hour, seven-days a week telephone customer service. The company offers full-service brokerage services at approximately 104 offices in the West and Midwest through U.S. Bancorp Piper Jaffray, the 11th largest brokerage in the nation. The company is the largest provider of Visa corporate and purchasing cards in the world, and one of the largest providers of corporate trust services in the nation. For more information, please see the U.S. Bancorp web site at www.usbank.com.

Headquartered in Kennesaw, Ga., TRISM, Inc. specializes in providing a variety of transportation and logistics services for shippers of oversized commodities and secured materials. Its operating divisions include TRISM Specialized Transportation, TRISM Secured Transportation, and TRISM Logistics Services.

COPYRIGHT 1999 Business Wire
COPYRIGHT 2000 Gale Group

S&P Lowers Rtgs for Trism Inc.; Still on Watch Neg

2004-07-18T08:44:00.001-05:00

NEW YORK--(BUSINESS WIRE)--Standard & Poor's--

June 14, 1999--Standard & Poor's today lowered its corporate credit rating on Trism Inc. to double-'C' from single-'B'-minus and lowered its rating on the company's subordinated debt to single-'C' from triple-'C'.

The ratings remain on CreditWatch, where they were placed Jan. 21, 1999 with negative implications.

The downgrade affects approximately $100 million of rated debt. The downgrade reflects Trism's announcement on June 10 that the company does not intend to make an interest payment aggregating $4.6 million on its 10-3/4% senior subordinated notes on June 15. The notes mature on December 15, 2000. Should the interest payment not be made within a 30-day grace period expiring July 15, 1999, an Event of Default will occur under the indenture.

Trism's decision to suspend interest payment on the senior subordinated notes is one of several actions being initiated to strengthen its financial and operating structures. The company has engaged Deutsche Banc Alex Brown to develop financial restructuring options. For this purpose, Trism has commenced discussions with certain holders of the notes seeking to effectuate a consensual restructuring of the obligations. It is Trism's anticipation that such restructuring would not affect its operations, and that all of its trade, other debt and leasing obligations would be paid in accordance with their terms.

Trism, a trucking company specializing in the hauling of over-dimensional freight and hazardous materials, has been affected by industry overcapacity and reduced demand for certain capital goods it transports. The company reported a net loss of $52,000 for the quarter ended March 31, 1999, compared to an operating income of $736,000 for the same quarter in 1998, due to a combination of decreasing volumes and declining revenue quality. Although Trism is cutting costs and reducing debt, these actions have not yet compensated for weaker load factors and revenue generation. As a result, the company's liquidity have become increasingly constrained.

In view of the company's ongoing weak operating and financial results and its high debt leverage, Trism could face greater difficulty servicing its debt should U.S. economic growth or orders for large capital goods slow, Standard & Poor's said.---CreditWire

COPYRIGHT 1999 Business Wire
COPYRIGHT 2000 Gale Group

Trism Announces Service Partnership With Four Arrows Transportation

2004-07-18T08:44:00.000-05:00

KENNESAW, Ga.--(BUSINESS WIRE)--July 14, 1999--

TRISM, Inc., has announced a joint operating agreement to provide tractors and trailing equipment to Four Arrows Transportation (F.A.T.) for service in the northeastern United States and eastern Canada markets.

The announcement was made today by TRISM president and chief executive officer Ed McCormick.

Under the agreement, TRISM Specialized Carriers will provide Qualcomm-equipped tractors and specialized trailing equipment for use by F.A.T. in serving customers that ship in the northeastern U.S. and eastern Canada markets. TRISM Specialized Carriers, a member of the TRISM group of companies, operates the nation's largest fleet of open equipment to transport oversized and overweight loads.

The Qualcomm equipment aboard the TRISM trucks is part of a satellite-tracking system that allows shippers and shipping companies to pinpoint truck locations within 100 feet, allowing instant tracking of cargoes along their routes.

"This agreement greatly improves ability for Four Arrows Transportation to offer its customers improved services," McCormick said. "By improving the strategic allocation of resources, F.A.T. can provide higher carrying capabilities, greater tracking accuracy, and better service throughout their market area. And TRISM benefits from increased business opportunities and visibility. In short, it's a `win-win' proposition for everyone."

Based in Nova Scotia, Canada, Four Arrows Transportation is a member of the Davis Group of companies including Owen Davis Trucking and Davis Specialized Carriers. Specializing in moving and managing over-dimensional loads and heavy equipment services, the company provides services a growing list of unique transportation requirements throughout North America.

Headquartered in Kennesaw, Ga., TRISM, Inc. specializes in providing a variety of transportation and logistics services for shippers of oversized commodities and secured materials. Its operating divisions include TRISM Specialized Transportation, TRISM Secured Transportation, and TRISM Logistics Services.

COPYRIGHT 1999 Business Wire
COPYRIGHT 2000 Gale Group

Trism To Omit Interest Payment On Bonds

2004-07-18T08:43:00.000-05:00

Updated on 6/11/99 - 2:28:00 PM EST

Trism Inc., Kennesaw, Ga., said it will not make a $4.6 million interest payment due June 15 on its 10.75% senior subordinated debt due Dec. 15, 2000.

President Edward L. McCormick said the decision is one of several actions being taken to strengthen the company's financial and operating structures. The company has retained Deutsche Banc Alex. Brown to develop financial restructuring options.

Trism said it has commenced discussions with bondholders on restructuring the debt. The restructuring would not affect the operations of Trism and all other debt and leasing obligations would be paid in accordance with their terms, the company said.

Trism operates fleets that specialize in hauling heavy, over-dimensional equipment, munitions and hazardous materials.

By Daniel P. Bearth
Staff Writer

TRISM Receives 1998 Service Award From C.H. Robinson

2004-07-18T08:40:00.001-05:00

KENNESAW, Ga.--(BUSINESS WIRE)--April 30, 1999--

TRISM Specialized Carriers announced today that in recognition of their commitment to quality, it has received the 1998 Service Award from C. H. Robinson Company of Eden Prairie, MN.

During his presentation of the award, C.H. Robinson, senior vice president Barry Butzow said that TRISM received the award because of the company's high standards, quality of service, reliability and professionalism that was hallmarked by the safe transportation of more than one million full truckload shipments during 1998.

"Thanks to carrier partners like TRISM, 1998 was another year of growth for C.H. Robinson," Butzow said. "We couldn't have achieved our goals without your continued commitment to service. Thanks to your dedication and hard work our shipments arrived safely at their destinations, and the high level of service excellence helped us achieve an on-time delivery rate that is second-to-none in the industry."

"The Specialized Carrier division at TRISM deserves this type of recognition for their efforts," added TRISM's Ron Conway. "We are extremely proud of the efforts of not only our drivers, but the entire support staff that makes receiving prestigious awards like this possible."

Headquartered in Eden Prairie, Mn., C.H. Robinson Company is the largest third-party logistics company in North America.

Headquartered in Kennesaw, Ga., TRISM, Inc. specializes in providing a variety of transportation and logistics services for shippers of oversized commodities and secured materials. Its operating divisions include TRISM Specialized Services, TRISM Secured Services, and TRISM Logistics Services.

COPYRIGHT 1999 Business Wire
COPYRIGHT 2000 Gale Group

TRISM, Inc. Announces Engagement of BT Alex.Brown to Review Strategic Alternatives to Improve its Capital Structure

2004-07-18T08:40:00.000-05:00

KENNESAW, Ga.--(BUSINESS WIRE)--May 10, 1999--

TRISM, Inc., the nation's largest transportation company that specializes in the transportation of heavy over-dimensional equipment and secured materials, announced today the engagement of BT Alex.Brown to review strategic alternatives to improve its capital structure. Specifically, BT Alex.Brown will assist the company in developing alternatives to satisfy the maturity of its 10.75% Senior Subordinated Notes due on December 15, 2000.

Certain statements in this release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties that may cause the company's actual results in future periods to differ materially from forecasted results. Those risks are described in the company's filing with the Securities and Exchange Commission (SEC) over the last twelve months, copies of which are available from the SEC or may be obtained upon request from the company.

Headquartered in Kennesaw, Ga., TRISM, Inc. specializes in providing a variety of transportation and logistics services for shippers of oversized commodities and secured materials. Its divisions include TRISM Specialized Transportation, TRISM Secured Transportation, and TRISM Logistics Services.

COPYRIGHT 1999 Business Wire
COPYRIGHT 2000 Gale Group

TRISM Introduces New Division Names and Logo Designs

2004-07-18T08:39:00.000-05:00

KENNESAW, Ga.--(BUSINESS WIRE)--May 20, 1999--

In a move that reflects the company's continuing efforts to position itself as the premier specialized transportation company in North America, TRISM today unveiled a revised corporate logo along with announcing the regrouping of the individual operating units into three core divisions.

"The purpose of this change is to create a common identity for all TRISM companies by bringing them together under a common banner that reflects their service offerings," said TRISM President and CEO, Ed McCormick. "We anticipate increased teamwork, cross-unit selling, and ultimately greater profitability and growth as we move to capitalize on TRISM's specialized transportation and logistics capabilities."

"This is just the first of many corporate-wide changes that we are making in a concentrated effort to make TRISM the leader in specialized transportation," McCormick added.

As introduced in the announcement, the three new divisions will be: TRISM Specialized Transportation, TRISM Secured Transportation, and TRISM Logistics Services. The new divisions include the following companies:

TRISM Specialized Transportation

-- TRISM Specialized Carriers

TRISM Secured Transportation

-- Tri-State Motor Transit Co.

-- Diablo Transportation Co.

-- C.I. Whitten Transfer Co.

TRISM Logistics Services

-- TRISM Super Heavy Haul

-- TRISM Logistics

-- TRISM Capacity Management

-- TRISM Dedicated Fleet Services

-- TRISM Intermodal Support Services

Along with the new names, each newly formed division will receive the new logo design that will be seen on division stationary and tractor/trailer markings.

Headquartered in Kennesaw, Ga., TRISM, Inc. specializes in providing a variety of transportation and logistics services for shippers of oversized commodities and secured materials. Its operating divisions include TRISM Specialized Transportation, TRISM Secured Transportation, and TRISM Logistics Services.

COPYRIGHT 1999 Business Wire
COPYRIGHT 2000 Gale Group

TRISM Announces New Personnel Hires and Promotions

2004-07-18T08:38:00.001-05:00

KENNESAW, Ga.--(BUSINESS WIRE)--April 28, 1999--

TRISM, Inc. recently announced the hiring of two new managers and the promotion of a third, as well as the hiring of a new director.

Earl Jenkins has joined the company as Manager, Auction/Dealer Sales for TRISM Specialized Carriers. Jenkins will be responsible for managing relationships with all major equipment dealers in the eastern half of the United States, as well as attending construction equipment auctions. Prior to joining TRISM, Jenkins was Terminal Manager for Sammons Trucking in Phoenix, AZ.

"Earl brings 15 years of experience in the heavy haul industry," stated Wayne Thackston, Vice President of Sales for TSC. "It's a real pleasure to welcome him to TRISM."

TRISM also named Thomas Townsend as the Director of Corporate Pricing. Townsend will be responsible for leading and directing strategic and tactical initiatives involving pricing and contract management activities for TRISM's Specialized Transportation and Secured Transportation divisions. Townsend joined TRISM from Sunrise USA Transportation Specialists where he served as Vice President of Operations.

According to Paul Newbourne, Vice President, Marketing for TRISM, "This role is particularly important as we move towards a simplified pricing program that we envision will provide an attractive value-exchange to our customers. His experience and versatility will serve as key assets to TRISM as we refine our market positions and target new opportunities."

The latest promotion from within has David Dallas assuming the position of Director, Nuclear Services. Prior to the promotion, Davis was Regional Sales Manager for TRISM Secured Transportation. In his new position Dallas, who is a member of the American Nuclear Society, will be drawing on his years of experience in the radioactive industry, his formal education as a Civil Engineer and his operational experience in chemical and hazardous waste transportation.

Dallas will have full responsibility for the growth and development of TRISM's radioactive business and will oversee all radioactive sales activities and the Nuclear Fleet operation, which is based in Columbia, SC. A primary focus of his activities will be to increase market share in the commercial nuclear industry and to aggressively pursue upcoming decommissioning projects while increasing TRISM's involvement with the Department of Energy.

Sandra Zufall was named Director of Accounting for TRISM. Zufall will be responsible for providing decision support and financial reporting for all of TRISM's entities, and is based in Joplin, MO. Zufall joined TRISM from Contract Freighters, Inc.

"This role is crucial as the accounting department moves toward reengineering the accounting processes to provide proactive information and decision support for management to facilitate TRISM's turnaround to profitability," stated David Harris, TRISM Corporate Controller.

Headquartered in Kennesaw, Ga., TRISM, Inc. specializes in providing a variety of transportation and logistics services for shippers of oversized commodities and secured materials. Its operating divisions include TRISM Specialized Services, TRISM Secured Services, and TRISM Logistics Services.

COPYRIGHT 1999 Business Wire
COPYRIGHT 2000 Gale Group

TRISM Drivers Receive Special Recognition

2004-07-18T08:38:00.000-05:00

KENNESAW, Ga.--(BUSINESS WIRE)--March 18, 1999--Twenty-four TRISM Inc. drivers received safety excellence awards in the first quarter of 1999, Ed McCormick, TRISM president and CEO, announced today.

The safety excellence awards are presented to TRISM drivers who log one million accident-free miles.

In a related announcement, McCormick also said that Walter Jones, a 10-year TRISM veteran from Neck City, Mo., won the TRISM Driver Appreciation Drawing. As the Grand Prize Winner, Jones received a 1999 Ford F-150 pickup truck, sticker priced at over $22,000, compliments of his employer.

Safety First at TRISM

"We are extremely proud of drivers who compile this kind of track record and our customers depend on them," said McCormick of the award winners. "A million safe miles can represent as much as 10 years of the careful, responsible service that we need to provide to set TRISM apart."

Upon reaching the million-mile mark, TRISM drivers receive a personal letter of commendation from McCormick and a 20-point diamond that completes the safety award ring that is a coveted hallmark of achievement at the company. The million-mile safety excellence award is part of the comprehensive safety and driver recognition programs that reflect TRISM's commitment to operating safely and its increasingly driver-focused culture.

TRISM begins rewarding safe drivers early in their tenure with the company, presenting silver rings to all employees who have driven 100,000 accident-free miles. At 500,000 miles, drivers receive gold rings to which diamonds are added at regular intervals as the miles pile up. After one million safe miles, company drivers' mileage rates are also increased.

Drivers receiving safety excellence awards in the first quarter of 1999 include: Robert J. Beck; Katherine L. Brilhante; Faye Cox; Rodney E. Curtis; Donald L. Davis; Lewis L. Davis; Lee R. Givens; Junior H. Hill; Richard L. Holmes; Johnnie C. Hurt; William B. Johnson; Andrew Lawyer; Gary A. Lux; Richard K. Lytle; William Moore; Rodney J. Pesson; Brian S. Riggs; Roy Robison; Sandra Robison; John L. Schnepp; Ronald L. Simpson; James Takacs; Calvin A. Turner; and Russell C. Young.

TRISM Appreciates Drivers All Year Long

Though many companies sponsor prize drawings and special events as part of the industry's National Driver Appreciation Week, TRISM is focused on driver satisfaction every day, according to Jim Pearson, the former driver who is now TRISM's Director of Driver Retention and the man responsible for coordinating the pickup truck giveaway.

"TRISM wants its drivers to know that we recognize they are the foundation of our success and to feel like a vital part of the best team in the business," said Pearson. As part of its effort to retain good drivers in a highly competitive environment, TRISM offers drivers compensation in addition to the basic mileage rate for the extra work required to move certain kinds of freight and pays yearly seniority bonuses.

Pearson also directs TRISM's Drivers' Council, which creates a quarterly forum for senior executives to hear and respond to driver feedback as well as monthly cookout meetings, held at TRISM terminal locations across the country.

Headquartered in Kennesaw, Ga, TRISM, Inc. specializes in providing a variety of transportation and logistics services for shippers of oversized commodities and secured materials. Its operating divisions include TRISM Specialized Services, TRISM Secured Services and TRISM Logistics Services.

COPYRIGHT 1999 Business Wire
COPYRIGHT 2000 Gale Group

New Personnel Announced at TRISM

2004-07-18T08:37:00.001-05:00

KENNESAW, Ga.--(BUSINESS WIRE)--March 8, 1999--TRISM, Inc. recently announced the addition of two new managers and the promotion of a third.

Joseph Dorsey was named Vice President of Field Sales for TRISM Specialized Carriers (TSC) a division of TRISM, Inc. Dorsey will be responsible for all facets of field sales for the Specialized Carrier division. He has more than twenty years of experience in transportation and shipping, most recently serving as president of Sunrise USA, a truck load carrier and subsidiary of Gainey Corporation. "Joe's extensive experience on both the transportation and shipping sides offers the company a unique advantage," said Wayne Thackston, Vice President of Sales for TSC. "We're very pleased to have him on board."

Also, Emanuel Morris was promoted to Vice President of Operations for TRISM Specialized Carriers (TSC). Morris has held various management positions with TSC during his five-year tenure, most recently as Director of Terminals and Customer Service. In his new role, he will report to Barry Moody, Executive Vice President of Operations. "I'm pleased to fill this position from within," said Moody. "Emanuel's knowledge of TRISM, his 20 years of experience, and the enthusiasm with which he faces challenges perfectly complements our operations."

Scobie Creel was also named Director of Agent Relations. Creel has 26 years of experience in the transportation industry, and he will work closely with the corporate sales group and focus on expanding the agent network for general fleet and heavy haul. "We are happy to have Scobie join TRISM," stated Barry Moody, "His talents and extensive background will greatly enhance our agent relations efforts."

TRISM, Inc. specializes in transporting heavy machinery and equipment, secured materials, general flatbed freight and transportation logistics. Headquartered in Kennesaw, GA, TRISM, Inc. conducts its business through three main operating divisions: TRISM Specialized, TRISM Secured and TRISM Logistics.

COPYRIGHT 1999 Business Wire
COPYRIGHT 2000 Gale Group

Trism To Review Financing Alternatives

2004-07-18T08:37:00.000-05:00

Updated on 5/10/99 - 4:20:00 PM EST

Trism Inc., Kennesaw, Ga., has engaged BT Alex. Brown to review strategic alternatives to improve its capital structure.

Specifically, the investment banking firm will assist Trism in developing financing alternatives when its 10.75% senior subordinated notes come due Dec. 15, 2000.

Trism provides specialized transportation of oversize and overweight equipment, munitions and hazardous wastes.

For the full story, see the May 17 print edition of Transport Topics. Subscribe today.

By Daniel P. Bearth
Staff Writer

Trism Targets New Markets

2004-07-18T08:10:00.000-05:00

Updated on 11/11/98 - 11:55:00 AM EST

Trism Inc. is trying to grow its trucking business by targeting new markets and joining with companies to provide transportation services.

An example of the Kennesaw, Ga.-based company’s new direction is the creation of Trism Intermodal Support Services Group.

Begun Oct. 1, the new group will provide a variety of intermodal support services, including yard management, maintenance and repair administration, chassis pool management and asset disposal to railroads, logistics providers, motor carriers and related industries.

"In effect, we act as a quality control service at the ramp," said Ron Sorrow, executive vice president of Trism.

Trism personnel will conduct inspections, for instance, using digital cameras to document equipment problems and monitor repair work.

The intermodal group is headed by Morris Godwin, a 25-year industry veteran with experience at Norfolk Southern, American President Lines and Unicon International. He will be assisted by Marvin Johnson, a former vice president of Xtra Corp., who will serve as director of sales.

Another new venture is a joint operating agreement with Viacom Holdings, a specialized flatbed carrier based in Vancouver, British Columbia.

Under the agreement, Trism Specialized Carriers will provide tractors and specialized trailers to Viacom to serve customers shipping oversize and overweight loads between the U.S., Canada and Mexico.

The deal helps Trism gain a foothold in Canada and Mexico while giving Viacom capacity to handle more business.

Both firms share in profits generated by the agreement.

Viacom owner Hendrik Hermkens said he is hopeful that the agreement with Trism will expand his 50-truck fleet to 200 or more.

"The business is there," he said. "Now I can play with the big boys."

Paul Newbourne, vice president of corporate marketing for Trism, said the company hopes to benefit from rising trade under the North America Free Trade Agreement. Currently, Trism gets only about 2%-3% of its business from Canada and Mexico.

"We’d like to increase that significantly," he said.

Another new group is Trism’s dedicated fleet operations. Mr. Newbourne said the group will focus on taking over fleets that mirror the company’s specialized trucking operations, including hazardous waste, solid waste, radioactive materials hauling and flatbed truckload.

The Trism group of companies includes Trism Super Heavy Haul, Trism Specialized Carriers, Tri-State Motor Transit, Trism Environmental Services, Diablo Transportation, C.I. Whitten Transfer Co. and Trism Logistics.

By Daniel P. Bearth
Staff Writer

Trism Launches New Intermodal Support Services Designed to Reduce Expenses for Customers

2004-07-18T08:05:00.000-05:00

KENNESAW, Ga.--(BUSINESS WIRE)--Nov. 5, 1998--Trism, Inc. has begun offering its customers a wide new range of intermodal support services, according to company executive vice president Ron Sorrow.

The new services, offered through the Trism Intermodal Support Services Group, began October 1. The service is expected to result in significant cost savings for Trism customers.

Trism will concentrate its new efforts on providing outsourced services to railroads, logistics providers, motor-carrier and related industries. Trism offers its customers services in terminal administration, rail-terminal operations, container-yard operations, maintenance-and-repair administration, chassis-pool management and asset disposal.

Morris Godwin will lead Trism's entry into this market as vice president of intermodal support services. Godwin's 25 years of intermodal-industry experience include serving with Norfolk Southern, America President Lines and Unicon International. Assisting him will be Marvin Johnson, director of sales. Johnson brings 28 years of transportation experience to Trism, including positions with Xtra Corporation and Unicon International.

"This move reflects Trism's growth strategy, which calls for us to seek out new niche markets in which we can add value," said Sorrow. "We recognized an unmet demand for support services such as improved equipment gate inspections and for improved effectiveness in managing equipment maintenance and repair costs. We decided to offer an even wider range of much-needed services. In effect, we act as a quality control service at the ramp, offering our customers services such as gate operations, terminal administrative support equipment, maintenance coordination and chassis-pool management."

Trism's plan for future growth is to provide high-quality transportation services in specialized markets of the transportation industry. This growth will be built on Trism's position as the nation's largest specialty trucking operation. For more than fifty years, the company has been the leader in transporting heavy-haul commodities, oversized equipment, and secured materials such as munitions and explosives, and hazardous products.

Trism, Inc., headquartered in Kennesaw, GA, specializes in providing transportation and logistics services for over-dimensional commodities and secured materials. The Trism group of companies includes Trism Super Heavy Haul, Trism Specialized Carriers, Tri-State Motor Transit, Trism Environmental Services, Diablo Transportation, C.I. Whitten Transfer Company and Trism Logistics.

COPYRIGHT 1998 Business Wire
COPYRIGHT 2000 Gale Group

Trism Establishes Service Partnership With Viacom Holdings - 1985 - Ltd. to Serve NAFTA Markets

2004-07-18T08:04:00.000-05:00

KENNESAW, Ga.--(BUSINESS WIRE)--Nov. 4, 1998--Trism, Inc. has announced a joint operating agreement to provide tractors and trailing equipment to Viacom Holdings, Ltd., for service between NAFTA markets.

The announcement was made today by Trism president and chief executive officer Ed McCormick.

Under the agreement, Trism Specialized Carriers will provide Qualcomm-equipped tractors and specialized trailing equipment for use by Viacom in serving customers that ship between the United States, Canada and Mexico. Since NAFTA took effect in January, 1994, trade between the US and Canada has nearly doubled and trade between the US and Mexico has nearly tripled. Trism Specialized Carriers, a member of the Trism group of companies, operates the nation's largest fleet of open equipment to transport oversized and overweight loads.

The Qualcomm equipment aboard the Trism trucks is part of a satellite tracking system that allows shippers and shipping companies to pinpoint truck locations to within 100 feet, allowing instant tracking of cargoes along their routes.

"This agreement allows both Trism and Viacom to improve the strategic allocation of resources," said McCormick. "It will result in higher carrying capacities for Viacom Holdings, increased business and visibility for Trism, and improved service for shippers throughout North America. In short, it's a `win-win-win' proposition."

Based in Vancouver, British Columbia, Canada, Viacom Holdings, Ltd. is a transportation company with operating authority in the United States and Canada.

Trism, Inc., headquartered in Kennesaw, GA, specializes in providing transportation and logistics services for over-dimensional commodities and secured materials. The Trism group of companies includes Trism Super Heavy Haul, Trism Specialized Carriers, Tri-State Motor Transit, Trism Environmental Services, Diablo Transportation, C.I. Whitten Transfer Company and Trism Logistics.

COPYRIGHT 1998 Business Wire
COPYRIGHT 2000 Gale Group

Trism, Inc. purchases J.B. Hunt Transport's Special Commodities Division

2004-07-17T07:00:00.000-05:00

LOWELL, Ark.--(BUSINESS WIRE)--Aug. 8, 1996--J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT) and Trism, Inc. (NASDAQ:TRSM) announced today they have reached an agreement to combine J.B. Hunt's Special Commodities Division into Trism Secured.

Trism will acquire the business and certain other assets of J.B. Hunt's Special Commodities Division for cash and stock options that would allow Hunt to own approximately 5% of Trism upon exercise of the options.

J.B. Hunt has indicated its intention to concentrate the majority of its focus and resources toward the three key components of its strategy; the Van Division including truck and intermodal, Dedicated Contract Services and J.B. Hunt Logistics. The Special Commodities Division, which operates autonomously from the core J.B. Hunt business, did not fit into the long-term strategic plan of the company.

Conversely, Trism's strategic vision for the future includes transportation of environmentally sensitive products. The combination of Trism's Environmental Services unit and J.B. Hunt's Special Commodities Division will result in a more viable entity with sufficient size and expertise that will yield direct benefits to hazardous waste customers as well as enhancing value to shareholders.

Wayne Garrison, Chairman of J.B. Hunt stated, "We are delighted to be able to combine two industry leaders in the hazardous transportation market to better serve our customers. By focusing more intently on each company's core strategy, Trism can provide cost-effective, efficient transportation to our respective customers while J.B. Hunt can provide logistics support as part of a complete transportation logistics solution. Together we can help the nation's hazardous shippers forge transportation strategies that will ad value to their supply chain."

Jim Revie, Chairman of Trism stated, "For the last year we have been refocusing the operations of Trism Secured away from munitions and toward radioactive materials, commercial explosives and Trism Environmental Services in the environmentally sensitive materials market. The opportunity to combine J.B. Hunt's Special Commodities unit with our Trism Environmental Services unit speeds up that process and adds significant new talent in sales, operations, and administration to our ranks."

The transaction is expected to close on or before August 31, 1996.

CONTACT: J.B. Hunt Transport Services, Inc., Lowell

Kirk Thompson, 501/820-8111

or

Trism, Inc., Kennesaw

John Kilcullen, 770/795-4600

or http://www.MVISIBILITY.COM/Trism

COPYRIGHT 1996 Business Wire
COPYRIGHT 2004 Gale Group

Not a Good Day in LA....

2004-07-16T10:12:00.001-05:00

The tractor portion of this truck veered off westbound Interstate 10 near Michoud Boulevard on Wednesday, killing a New Orleans police officer standing on the shoulder.

TSMT: Back in the High-Life, Again.

2004-07-16T10:12:00.000-05:00

A truck veered off westbound Interstate 10 near Michoud Boulevard early Wednesday onto the road’s shoulder, striking and killing a New Orleans police officer. Thousands of drivers were forced to change their commute routes as sections of the interstate were closed.

Note: A Tsmt box trailer usually hauls one of three things at any given time: munitions, nuclear materials, or hazardous materials. You won't find any toliet paper inside of one of these trailers.

An Open Letter to Delta Airlines' Chairman Smith & Ceo Grinstein

2004-06-23T12:39:00.000-05:00

Michael L. Masters, Principal
Masters & Masters

Gerald Grinstein, CEO
Delta Air Lines, Inc
1030 Delta Blvd.
Atlanta, Ga 30320-6001

CC: John F. Smith

June 23, 2004

Subject: Delta Air Can’t Survive as Is – CEO, by Reuters Jun 16, 2004

Since late 2001, I have been monitoring Delta’s struggle for survival. I know all to well what you are up against --- I had been there and done that with my Atlanta based International Transportation Corporation.

The beginning of the end occurred in 1997-98 when our stock hit new lows, like yours today, that forced us to bring in Arthur Anderson to camp with us for an entire year to the tune of $1.2M to satisfy the appetite of Wall Street. Their recommendations were right on the mark, even though the current senior management team dismissed them at the time. I still have that study in a safe place for historical purposes.

We too knew of the impending recession as of the summer of 1999 from our common carrier relationships. Because of the unique nature of our services, we were spared the initial brunt of the recession. I believe the bottom fell out of the market for us and others the following summer which was most likely caused by the stock market crash involving the Telecom & Technology sectors.

If that wasn’t enough to rock-the-boat, our $100M bond liability was coming due by the 3rd quarter of 1999, and we had been fortunate enough to have only paid $20M on those bonds since 1995. What to do?…

In order to bring the bondholders to the bargaining table, we had to do what you fear you might have to do soon too: file Chapter 11 bankruptcy protection.

Once the decision was made, our CEO canvassed our top 200 customer base to get their pulse and reassure them that our company was a very viable future company; however, we had a financial commitment we just couldn’t meet at this time.

Our customers were put at ease by the leadership and persuasiveness of our charismatic CEO. And these were not just anybody’s customers either: DOD, DOE, NASA, Boeing, Lockheed-Martin, Harris Corp, GE, Siemens-Westinghouse, TVA, ABB Power, John Deere, Caterpillar, Hitachi, JI Case, Home Depot…

The plan was so successful that the board promptly appointed the CEO, Chairman & CEO along with a three-year business plan to turn the company around. And this is the point in time where I got involved.

When 2nd quarter of 2000 rolled around I was asked by the Chairman & CEO to assist his special advisor to seek out more cost cutting opportunities. After witnessing three or more reductions in workforce since 1999, I decided to take a chance and deflect this knee-jerk desire --- I said stop looking at the low hanging fruit and start looking here where we are diluting our profit margin. We were running a 101% operating ratio at the time according to our SPA software analysis provided by Sabre.

I had developed a model that illustrated where the discounting of our service had impacted our business over the recent 2 ½ years. He hit the brakes on that path and the solution light went on to the tune of $76M (which by mid 2001 reached $96M). Seems like we could have paid off those bonds had we been watching the hen house a little bit better during that time.

Therefore, a new path was cut and pursued… only to be later resisted by the senior management team. Getting these people to change was like performing a series of root canals on a pack of hyenas. Finally, sides were being chosen and in the end it was 3 against some 15 so-called team members: The three underdogs were the Chairman & CEO, his advisor, & myself.

Unfortunately, one of the conditions of the bondholders after the deal was made in the 1st quarter 2000 was that they would have a presence on the board – we had to let the fox inside the hen house. The fox was patient for awhile, but in October 2000 he blew the house down and had the Chairman & CEO abruptly fired. Mind you, remember that they had signed a three year business plan with this gentleman. Everybody was so bewildered and in shock & awe at just what had transpired that even the Chairman & CEO kept showing up at the office until they secured a restraining order against him; not to mention jeopardizing his golden parachute. To further make matters worse: the CFO had resigned in private to the Chairman & CEO just a month earlier. When CIT (Tyco) got a hold of that information, they cut our revolver to half or less --- ouch!

The rest of that year and the following year were the most amazing, bazaar, and turbulent moments of my life, and it should not to be wished upon anybody in a senior management position to endure.

The Bottom Line:

We lost a $450M specialized transportation legend. A legend that even went as whole units (cargo, tractor, & trailer) to Kuwait to facilitate the logistical needs of the Armed Forces in Desert Storm. And for our efforts, we received a special “Thank You” letter from the President of the United States, President George H. W. Bush.

Please don’t let this happen to Delta. Instead, be innovative and find a productive way out and save another legend (Pan Am) from the corporate scrap-heap of time.

The Chapter 11 process can be ugly, and a time of quiet desperation. A time where executives whip out their own personal credit cards to pay for such simple items as computer paper in order to have the substance to print their daily operational reports on. I can remember a time when the CIO did this very act to the tune of $25k or more over a short period of time in the best interests of supporting this company.

I too recall the many deaf ears of our elected officials; both locally and in Washington DC. I called upon them many times – trying to reach out for viable solutions before the internment of my company during 4th quarter 2001. Those acts also include the White House as well, where I encountered an amazing amount of arrogance and indifference beyond belief. Afghanistan was just cranking up and one of our subsidiaries carried about 80% of the total ordnance to port.

However, later on I didn’t feel so bad since they didn’t give any quarter to Ken Lay of Enron either in the fall of 2001.

In conclusion, I do have some far reaching, creative ideas that you might want to pursue. One of them involves beneficial payroll concessions that we discovered that might recover $100-150M over a year’s time. And that’s just for starters. Also, I am sure we could come up with some creative capacity solutions as well.

To lose a legendary, viable company over a fraction of its worth is a terrible thing to waste and endure for a lifetime of regret. Out there… somewhere, there has to be a compromise available to sustain such an entity from uncertain death.

If I can be of help in any capacity, please don’t hesitate to call on me.

Regards,
M

PS: Gerald, I am pretty sure you knew 100% players that created my company and some that came on board as senior management members all of which came from Burlington, and a couple from CSX. It’s a small world for sure. Have you ever heard of Ron Sorrow?

Pan Am: More Information on a Legend Beyond Belief at Pan Am Org

Back in the Saddle, Again ... or Was? Lawrence Rides Again!

2004-05-19T07:52:00.000-05:00

AmeriTruck is a conglomerate of about a dozen regional trucking companies that operate throughout the United States. Investors include BancBoston Ventures Inc. of Boston and a handful of individual investors, many of them former owners of the acquired companies.

The investors' stated strategy is to roll up small companies in the fragmented U.S. trucking industry through acquisitions, which AmeriTruck has done since its creation in 1995.

May claims the company is now the largest refrigerated carrier in the United States. Its acquisitions have been funded in large part with money raised on the public bond market.

The conglomerate is the brainchild of Fort Worth businessman Michael Lawrence, a longtime player in the trucking industry and a former executive at Burlington Northern Railroad Co., based in Fort Worth [and the architect and CEO at TRISM, Inc., based in Atlanta, Ga]. Also on the AmeriTruck board of directors is William Greenwood, a former CEO of Burlington Northern.

Reflections

2004-05-13T09:55:00.000-05:00

Let the views, opinions, and reflections begin. Share your personal story and feelings about this once proud company.

Regards,
M