http://news.yahoo.com/truck-firm-faces-paying-millions-amtrak-crash-170927093.html
Rich
Say goodbye to John Davis Trucking.
I fully expect John Davis Trucking is currently a name only entity with no resources.
Yes, very unlikely they will be able to continue operations after something like that. Sad really… people died and someone’s life’s work gone up in smoke.
In many cases like this, unless the trucking Company is in business on a very large scale; they will be gone very, shortly. The only ones to be paid will be The Suits’… The railroads, and their Insurance Carriers will divvy up the ‘risks’, and move on. Remember the wreck of #59 in March of 1999 ? Damages were something in the neighborhood of 6 to 7 million bucks, and 11 people were killed… Trucker got two years for a log book violation…
It really depends on if John Davis had catastrophic coverage. Usually catastrophic coverage will go to the value of the company for a firm that size. Ten million is not an unusual amount for a company that size. The wrongful death part of the law suit has not gone to trial. That side has the potential for punitive damages. Much more expensive. That the judge is awarding UP considerable attorney fees makes me wonder if the judge was not happy with John Davis Trucking and or their attorneys. Rgds IGN
Don’t remember its truck count but if ~ 80 at $50,000 per then value is ~ $4.0M. But no matter what happens either the company or anyone connected with the company will see a very large increase in insurance premiums for the company or another ?
They may or may not. If John Davis Trucking had an otherwise exemplary safety record then they might have a shot at survival…
News reports have indicated their truck maintenance was less than adequate. Not sure of the veracity.
Then they’re pretty much cooked.
On average, another Trucking Company goes out of business every two hours. I’m sure that one will if it hasn’t already.
Not just the news reports - the NTSB report highlighted all the failures on the truck involved in the incident. One would have to conclude that that truck was representative of overall fleet maintenance.