Alvan President and CEO James Van Zoeren called it "the worst day of my business career."
The principal beneficiary could be YRC Worldwide unit Holland, another Michigan-based carrier and the largest unit of YRC Regional.Con-way Central, a unit of Con-way Inc.
, also figures to be a winner in this fallout.
Analysis: There's no cheering today in Kalamazoo, Mich. Venerable Alvan
Motor Freight, a Teamster-covered carrier based in Kalamazoo, is ceasing operations after a 67-year run.Alvan President and CEO James Van Zoeren said it all when it called it "the worst day of my business career."Alvan
was victimized by the brutal operating environment facing all U.S. motor carriers, and a few problems specific to Alvan
.Among the general problems:1. The more than 200 percent run-up in diesel fuel prices in the past four years with diesel currently topping $4.80 a gallon.2. The depressed U.S. manufacturing economy, specifically housing and autos, which is hurting all truckers.3. Overcapacity in the trucking industry, despite significant closings and reduction in capacity by existing carriers.
As CEO Van Zoeren
put it, "A number of problems outside our control have overwhelmed us to the point where we were left with little choice."