Issue link: http://read.dmtmag.com/i/71813
logbook O&S files for bankruptcy, seeks Prime affiliation After filing for Chapter 11 bankruptcy protection, O&S Trucking asked a court June 5 to grant it the privilege to a business relationship with carrier Prime Inc. The two Springfield, Mo., companies had reached an agreement before O&S filed its May 30 petition in U.S. Bankruptcy Court for the Western District of Missouri. The court granted an emergency motion to expedite the hearing to affiliate with the 4,000-truck Prime. In May, O&S principal Jim O'Neal stepped down during his second term as Springfield mayor after stating business and personal issues required his full attention. The owner of the 300- Performance Enhancer (Relax, this one's perfectly legal) – – truck refrigerated carrier also resigned recently as an American Trucking Associations vice chairman. O'Neal had served as the 2007-2008 Truckload Carriers Association chairman, a position Robert Low, president of Prime, assumed last March. The Chapter 11 petition lists equity security holders as O'Neal, with 142,000 shares, and the 31-year-old company's employee stock ownership trust, which has 79,403 shares. It estimated its liabilities at $10 million to $50 million and assets to be less than $50,000. The affiliation the two companies want approved would allow O&S to retain 80 percent of its revenue, but use Prime's buying power for fuel and trucks and trailers. It would grant O&S access to Prime's rolling stock and additional freight business. If approved, the FREE Howes Deluxe when you purchase 3 bottles of Howes Products Visit www.howeslube.com for details or call 1-800 GET HOWES Offer ends: 9/30/12, available while supplies last. Shower Bag Toiletries not included. Professional Grade Performance Since 1920 agreement would provide O'Neal a 3 percent commission for O&S revenue generated the first year, 2 percent in the second year and 1 percent in the third year. The court has scheduled a July 18 meeting for O&S creditors. — Jill Dunn 22 OVERDRIVE JULY 2012 Circle 010 on Reader Service Card or visit overdrive.hotims.com