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Glaser Williams question....

Discussion in 'Ask An Owner Operator' started by hskrvern, Jul 27, 2012.

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  1. Jul 27, 2012 #1
    hskrvern

    hskrvern Bobtail Member

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    Jul 27, 2012
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    My father in law just signed up with Glaser Williams as an owner/operator and I have a question or three for anyone in the know.

    *background*

    My FIL talked me into loaning him 80k for a house about 5 years back and I thought with the proper documentation and lawyers it would be ok, well it isn't turning out that way. He hasn't been on time for a single payment and is now about 5 months behind (but he can afford a Lincoln MK V). He was all happy about this company after talking with one of his buddies and seeing how much he made and the prime cabin/hunting property he was able to buy. So he signed up with them and told me that he'd be able to pay the remainder of the house off within a year. Now He's telling me he won't be able to make any payments...

    *Here is the question*

    He's telling me he's grossing 4.5k a week but his take home pay is under 800 bucks a month (uses Glaser Williams trailer). That's with no taxes or health coming out. I know fuel gets pricy and stuff, and they take a chunk for the trailer, but I'm not in the know for this type of business. Does this pass the sniff test or am I getting taken for another ride.
     
    hskrvern, Jul 27, 2012
    hskrvern, Jul 27, 2012
    #1
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  3. Jul 27, 2012 #2
    Allow Me.

    Allow Me. Trucker Forum STAFF Staff Member

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    Rancho Mirage, Ca.
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    I smell a _____.
     
    Allow Me., Jul 27, 2012
    Allow Me., Jul 27, 2012
    #2
  4. Jul 27, 2012 #3
    hskrvern

    hskrvern Bobtail Member

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    Jul 27, 2012
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    That's what I'm thinking too. Just want to make sure that I'm on the right path and have a few opinions before I go rambo.
     
    Last edited: Jul 27, 2012
    hskrvern, Jul 27, 2012
    hskrvern, Jul 27, 2012
    #3
  5. Jul 28, 2012 #4
    lonelyswmtrucker

    lonelyswmtrucker Medium Load Member

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    down the bayou
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    i applied to go to work for them as a company driver but got the run around from the for 6 weeks then when they decided they wanted me i played along with them like i was going but then i didn't.

    if he's only grossing 4.5k/week, i'm glad i didn't go. how many miles is he putting.
     
    lonelyswmtrucker, Jul 28, 2012
    lonelyswmtrucker, Jul 28, 2012
    #4
  7. Jul 28, 2012 #5
    hskrvern

    hskrvern Bobtail Member

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    Jul 27, 2012
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    Not sure on the miles but he is ranging in the Flordia to Georgia area often and will go as far west as Nebraska and as far north as Pennsylvania.
     
    hskrvern, Jul 28, 2012
    hskrvern, Jul 28, 2012
    #5
  8. Jul 29, 2012 #6
    ralph

    ralph Road Train Member

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    Have him show you his settlements from the carrier>that will prove revenue and some expences.
     
    ralph, Jul 29, 2012
    ralph, Jul 29, 2012
    #6
  9. Jul 29, 2012 #7
    hskrvern

    hskrvern Bobtail Member

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    Jul 27, 2012
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    I'll solve world hunger, peace, and understand women with nothing but a paperclip and a glass of orange juice before he shows me any of his financial documents.
     
    hskrvern, Jul 29, 2012
    hskrvern, Jul 29, 2012
    #7
  10. Jul 29, 2012 #8
    ralph

    ralph Road Train Member

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    I hope for you that you have a mortgage registered on the property. Start eviction proceedings and see what happens. Remember this is a "business" decision>it has nothing to do with who he is. He could be the town mayor. The long and short of the matter is he is in default.
     
    ralph, Jul 29, 2012
    ralph, Jul 29, 2012
    #8
    lonelyswmtrucker Thanks this.
  11. Jul 29, 2012 #9
    passingthru69

    passingthru69 Road Train Member

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    same as above. Good Luck
     
    passingthru69, Jul 29, 2012
    passingthru69, Jul 29, 2012
    #9
  12. Sep 6, 2012 #10
    ardharward

    ardharward Bobtail Member

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    Sep 6, 2012
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    Your FIL sort of got taken in by his friend in my opinion...they all talk big. That said, here is probably pretty much the formula. They "pay" am owner 87% of the load--off the top. They charged the owner 10%, also off the top for the trailer. They charge 7% for the load insurance, also off the top. So an owner "receives" 70% of the load minus their fuel. For at least the first month an owner runs behind on his fuel, as a start up, which they slowly charge him for, so instead of 5 days fuel they may be taking the fuel for 6 or 7 days. When the arrears all clears, he should be receiving 70% minus the weekly fuel. If it is like the other Williams, he is required to take send in his paperwork/logs, etc. via ups each week, 2nd day air, and then they take from the drivers pay the postage for that. Since he is renting their trailer, he is also responsible for anything that happens to the trailer, except for regular wear and tear. If he gets, say a bolt in his tire and it has to be replaced, he has to replace that tire at his own expense. He may use the card that they give him, but ultimately, it is still charged to him. His net pay may be $800. a week, not month. Since he has been at this a little longer than your first question, he may be receiving more by now, but probably not much. Owner/Operators make about as much as a company hand, without the benefits.
     
    ardharward, Sep 6, 2012
    ardharward, Sep 6, 2012
    #10
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