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Starting Amount
$
After
years
Dividend yield
%
Dividends reinvested
$
Celadon Group, Inc.
Type
Public
Traded as NYSE: CGI
Industry Transport and Logistics
Founded May 1985
Founders Stephen Russell
Lee Bennett
Headquarters Indianapolis, Indiana, United States
Area served
North America
Key people
Paul Svindland (CEO)
Jon Russell (COO
Thom Albrecht (CFO)
Revenue Increase US$1.065 billion (2016)
Net income
Decrease US$24.844 million (2016)
Total assets Decrease US$1.103 billion (2016)
Total equity Increase US$381.015 million (2016)
Website www.celadontrucking.com

Celadon Group, Inc. is a truckload shipping company located in Indianapolis, Indiana, USA. It is one of the ten largest truckload carriers in North America. Celadon was founded in 1985 and employs over 4,000 individuals. Through its subsidiaries, Celadon provides long-haul and regional freight service across Canada, Mexico, and the United States.

Celadon cofounders Stephen Russell and Leonard Bennett had neither employees nor equipment when they started the Indiana-based company, but they did have one major contract to transport automotive parts to a new Chrysler plant in Mexico. Russell and Bennett named their new company Celadon after reading about celadon pottery, an ancient green-glazed stoneware dating back to the Koryo dynasty (918-1392 A.D.). They hoped their company would be distinctive like the pottery. Celadon did $8 million in business during its first year and was considered a pioneer of the commerce trail between the United States and Mexico.

The passing of the National American Free Trade Act in 1995 was a major break for Celadon, which was in a position to capitalize on the explosion in trade between the United States and Mexico. According to the original NAFTA, trucks from Mexico could enter the United States and move freely within the states bordering Mexico, and even as far north as the California-Oregon border. However, the United States blocked NAFTA just as it was about to go into effect. While the United States contended it had "safety concerns," critics claimed the move was politically connected to the powerful Teamsters Union, which worried that allowing low-paid Mexican truck drivers into the country would threaten U.S. jobs. NAFTA was eventually passed, but drivers were prohibited from hauling their loads to their Mexican destinations. Instead, they had to hand off their loads at border-town interchange points, and Mexican truck drivers took over for the final leg of the run.

Celadon quickly adapted to NAFTA's provisions. It cultivated its relationships with over 15 Mexican trucking companies and allowed these companies to drive its trucks to their destinations within Mexico. Many in the industry feared Celadon's trucks would be confiscated in Mexico, but Celadon hauled shipment after shipment without incident. It credited its solid relationships with the Mexican trucking companies for its success. Celadon became known as the primary NAFTA carrier. The company later acquired the Mexican trucking company Transportacion de Jaguar to assist with cargo transfer at the Mexican border.

After several years of answering to the public, Russell considered the IPO a mistake for Celadon. "Being a private company, you can focus on the long term without worrying about specific quarterly earnings," he explained in the Indiana Business Journal in 1998. Russell also felt Celadon's stock was "unappreciated" on Wall Street. In 1998, Larendo Acquisition Company, a subsidiary of the New York Investment firm Odyssey, planned to acquire Celadon for $259 million, but backed out because it was unable to secure financing. News of the deal falling through caused a 32 percent drop in Celadon's stock.

On May 1st 2017 the company announced that COO Eric Meek had resigned after auditor BKD had determined that the financial statements for the 2016 fiscal year “should not be relied upon.” On May 8th, the New York Stock Exchange informed the company that it had failed to meet the exchange's listing standard and the company’s stock could be delisted in six months. The noncompliant financials put Celadon into default with its lenders. The company reached a new credit deal with Bank of America on July 3rd after agreeing to a host of operating and reporting restrictions. CEO Paul Will announced his retirement on July 13th.

Investment goal date:
Dividends reinvested
Celadon Group, Inc. CGI report Q2 2017
Period
Date
Adjusted Actuals EPS
GAAP EPS
Q2 2017
2017-02-01
-0.0600
-0.0600
Q1 2017
2016-11-02
-0.1000
-0.1000
Q4 2016
2016-09-01
0.1400
0.0600
Q3 2016
2016-04-27
0.1900
0.1900
Q2 2016
2016-01-27
0.2400
0.2400
Q1 2016
2015-10-28
0.4100
0.4100
Q4 2015
2015-07-29
0.4700
0.4700
Q3 2015
2015-04-28
0.3700
0.3600
Q2 2015
2015-01-28
0.3700
0.3600
Q1 2015
2014-10-29
0.3400
0.3400
There is presents forecasts or rating agencies and recommendation for investors about this ticker
Funds
Fund Name
Ticker shares
BlackRock Fund Advisors
2358839
BlackRock Inc.
4001504
BlackRock Institutional Trust Company, N.A.
718209
Boston Partners
1383150
DIMENSIONAL FUND ADVISORS LP
2244334
Foundry Partners, LLC
768610
FRONTIER CAPITAL MANAGEMENT CO LLC
2537006
Invesco Ltd.
1223960
KENNEDY CAPITAL MANAGEMENT, INC.
598261
PENN CAPITAL MANAGEMENT CO INC
783612
STATE STREET CORP
601432
THOMPSON SIEGEL & WALMSLEY LLC
1337485
Vanguard Group, Inc
1530402
VICTORY CAPITAL MANAGEMENT INC
1810424
WELLINGTON MANAGEMENT CO LLP
3954475
Major Shareholders
Name Relationship
Total Shares
Holding stocks
RUSSELL STEPHEN
1.7400% (408985)
CGI / SGU /
LANGHAM CATHERINE A
0.1800% (43168)
CGI / FINL / HGG /
WILL PAUL
0.9000% (211500)
CGI /
HEYWORTH ANTHONY
0.3400% (79921)
CGI /
MILLER MICHAEL
0.4700% (109901)
CGI / JAKK /
Russell Jonathan Scott
0.9700% (226717)
CGI /
Russell Jonathan Scott
2.4600% (575988)
CGI /
Core Kenneth
0.3000% (70572)
CGI /
Meek William E
0.6100% (142000)
CGI /
Middleton Bart T
0.0900% (20083)
CGI /
Svindland Paul C
2.5600% (600000)
CGI / PACR /
Peavler Bobby L
0.1100% (25375)
CGI /
Tarble Leslie A
0.0500% (11150)
CGI /
Long Robert Douglas
0.0800% (17929)
CGI /
Buck Kenneth L Jr
0.0400% (8701)
CGI /
Albrecht Thomas S
0.7500% (175000)
CGI /
% ()