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Open Roads Forum  >  Class A Motorhomes

 > Flying J applying for bankruptcy???

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just me

Salt Lake City Utah USA

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Posted: 01/22/09 07:26am Link  |  Quote  |  Print  |  Notify Moderator

11B wrote:

cdzranch wrote:

11B wrote:

Man if you went up $2.00 a gallon in one day, I'd say its time to move. Fuel here in Utah (home of flying J) is $2.21 per Gal.
No we are now paying $2 a gal. If you are at $2.21, I can only imagine what ours will be.


$2.21 is the lowest it has been in Utah since I bought my MH in may of 07. Not being proud I'll settle for it.


Clarification: Regular is $1.57 Diesel is $2.21 to $2.65 depending where you get your go juice. Here in the land of SMOG.


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SkyCop4U

Fort Worth

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Posted: 01/22/09 07:42am Link  |  Quote  |  Print  |  Notify Moderator

M GO BLUE wrote:

wa8yxm wrote:

There is bankruptcy and there is bankruptcy

Flying-J filed for PROTECTION last December, They expect to recover

(The other kind you do NOT expect to recover)


For corporations...

Chapter 11 - file a reorganization plan

Chapter 7 - everyone loses as all debts are wiped clean


For individuals...

Chapter 13 - file a plan to repay your debts

Chapter 7 - see above


About 1 1/2 - 2 years ago it got harder to file any kind of bankruptcy, especially for individuals because of misuse by a few...but you can still file if needed




Chapter 7 is where the company shuts down and is liquidated. It’s more than wiping the slate clean. The company will not longer be around as assets are sold off to pay some creditors.

C-Leigh Racing

Nashville NC

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Posted: 01/22/09 08:56am Link  |  Quote  |  Print  |  Notify Moderator

Well, was a bunch of us complaining about how the Flyin Js were & the SMALL problems we encountered while there, I guess this is our reward.
Anybody have any more complaints.
Neil

onecb

Salt Lake City Utah

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Posted: 01/22/09 09:39am Link  |  Quote  |  Print  |  Notify Moderator

Corrected

* This post was edited 01/23/09 08:57am by onecb *


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Livin Good

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Posted: 01/22/09 09:44am Link  |  Quote  |  Print  |  Notify Moderator

C-Leigh Racing wrote:

Well, was a bunch of us complaining about how the Flyin Js were & the SMALL problems we encountered while there, I guess this is our reward.
Anybody have any more complaints.
Neil


Excellent Point

Aridon

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Posted: 01/22/09 10:03am Link  |  Quote  |  Print  |  Notify Moderator

crickeydog wrote:

cdzranch wrote:

Anyone have more info?

Flying J filed last December. They bought fuel last summer when speculation was it would stay near $140 a barrel. Ooops!!! Now they're selling fuel for half what they paid for it. Serves'em right. They'll reorganize and emerge better off than they are now. You and I should have it so easy.

Happy camping!!! See ya'll down the road!!!






Wow, ok so what are they supposed to do?


They buy fuel on the spot market and can end up screwed because competitors buy it for less since they locked in their purchases months earlier.

They can also get screwed if they buy the futures and prices plummet which is exactly what happened.


Delivering a highly volatile commodity like oil isn't exactly an easy gig. Some of you here act like its an easy business to make a ton of money in too bad most of you wouldn't have a clue how to function in the industry and typical of the ignorant masses think you are somehow entitled to cheap fuel and laugh when one of the better discount sellers of it files for bankruptcy.


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cdzranch

Snowflake Az

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Posted: 01/22/09 10:05am Link  |  Quote  |  Print  |  Notify Moderator

onecb wrote:

I am not sure where the other person from Salt Lake is getting his gas, 2.21 ? It is $1.55 today and that is up from $1.25 a couple of weeks ago. Alvin just outside Salt Lake City.
He was quoting diesel prices. I'm sitting for the winter, but I'm going to top off my 75 gal tank, just in case it goes to $4 again.


Dan and Cindy FMCA# 402249
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Count_D_Money

Western MI

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Posted: 01/22/09 10:07am Link  |  Quote  |  Print  |  Notify Moderator

Aridon wrote:

too bad most of you wouldn't have a clue how to function in the industry and typical of the ignorant masses think you are somehow entitled to cheap fuel and laugh when one of the better discount sellers of it files for bankruptcy.


Yikes!

Tinstar

McKinney, TX

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Posted: 01/22/09 10:12am Link  |  Quote  |  Print  |  Notify Moderator

Aridon wrote:

most of you wouldn't have a clue how to function in the industry and typical of the ignorant masses think you are somehow entitled to cheap fuel and laugh when one of the better discount sellers of it files for bankruptcy.


Aridon, are you ok?


Never pass up a chance to go somewhere

The Texan

Summer: Cascade, Idaho - Winter: A Warm Climate

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Posted: 01/22/09 10:20am Link  |  Quote  |  Print  |  Notify Moderator

This is a prime reason why the commodities market should be abolished. The traders raped the public and now are setting around counting their profits with a huge grin on their face. Don't worry though, they will be back and with vengeance.


Bob & Betsy - USN Ret'd '78 & FL LEO Ret'd '03 & FT Class of 2002
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Where the wheels are stopped


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