In the Hot Seat | The Business of Transportation

Selling your business is more than likely going to be the largest financial event of your lifetime. You need someone on your team that will ensure this money helps you hit the financial goals you have. This week's Hot Seat guest is Laurie Atkins. She is the VP of Private Wealth Management at AllianceBernstein. Laurie walks us through why a wealth manager is so important to a successful business sale, what factors you need to be looking at before and after the sale, and what we can do to mitigate our risks during major international conflicts.  

Looking to acquire another transportation business? Join Tenney Group's private Buyer Network where we take the time to learn about your specific business goals and only bring you possible deals that fit those goals.  

https://www.thetenneygroup.com/buying-a-business/   

Interested in selling your transportation business? Click the link below to see our process and find out if we can help you achieve your business goals.  

https://www.thetenneygroup.com/our-process/

Tenney Group was founded almost 50 years ago by Charles Tenney. He had the vision to help transportation companies in America build the best businesses possible and leave a legacy for their families.   After decades in the business, Charles began to think about the next chapter for the Tenney Group. Should he sell to a third party? Should he sell to an employee? Should he sell to his children?  Eventually, through many conversations, Spencer Tenney,CBI CMAA (Charles' son) decided that he wanted to purchase the business and see where he could take it.   In this webinar, co-hosted with Intermodal Association of North America (IANA), Chandler Lyles interviews Charles and Spencer to discuss the process they followed to successfully transition the family business from one generation to the next.   

Interested in selling your transportation business? Click the link below to see our process and find out if we can help you achieve your business goals.  

https://www.thetenneygroup.com/our-process/

JT Engstrom is the VP of Corporate Development and Strategy at Metafora. His focus is on partnerships, commercial relations and corporate development in the transportation space. Metafora (formerly CarrierDirect) are experts in all things transportation, logistics and supply chain strategy and technology.  

Looking to acquire another transportation business? Join Tenney Group's private Buyer Network where we take the time to learn about your specific business goals and only bring you possible deals that fit those goals.  

https://www.thetenneygroup.com/buying-a-business/   

Interested in selling your transportation business? Click the link below to see our process and find out if we can help you achieve your business goals.  

https://www.thetenneygroup.com/our-process/

This week's Hot Seat interview with Spencer Tenney features a conversation with Todd Reiser. He is a Senior Vice President at Lockton Companies. With over 20 years in the business, you don't want to miss Todd's thoughts on the current trends in insurance for the transportation industry.  

Looking to acquire another transportation business? Join Tenney Group's private Buyer Network where we take the time to learn about your specific business goals and only bring you possible deals that fit those goals.  

https://www.thetenneygroup.com/buying-a-business/   

Interested in selling your transportation business? Click the link below to see our process and find out if we can help you achieve your business goals.  

https://www.thetenneygroup.com/our-process/

Melvin Swafford is a Regional Vice President at Corporate Chaplains of America. Their company is on a mission to make a meaningful difference in the workplace. With 500,000 employees currently being served, we would say they are well on their way. In this episode of The Hot Seat, Spencer Tenny and Melvin sit down to discuss the transportation industry's employment culture and how the Corporate Chaplains of America are working to improve it.  

Looking to acquire another transportation business? Join Tenney Group's private Buyer Network where we take the time to learn about your specific business goals and only bring you possible deals that fit those goals.  

https://www.thetenneygroup.com/buying-a-business/   

Interested in selling your transportation business? Click the link below to see our process and find out if we can help you achieve your business goals.  

https://www.thetenneygroup.com/our-process/

Doug Grawe from The Grawe Group joins Spencer Tenney to discuss independent contractor programs, safety and handling driver retention in the transportation industry.  

Looking to acquire another transportation business? Join Tenney Group's private Buyer Network where we take the time to learn about your specific business goals and only bring you possible deals that fit those goals.   

https://www.thetenneygroup.com/buying-a-business/  

Interested in selling your transportation business? Click the link below to see our process and find out if we can help you achieve your business goals.   

https://www.thetenneygroup.com/our-process/

Wendy Greenland is the CEO of Openforce. Openforce is the leader in technology-driven services that reduce the operating costs and compliance risk for companies using independent contractors (ICs). On this episode, Wendy explains what your trucking company needs to be looking at when working with independent truck drivers and other independent truck drivers.  

Looking to acquire another transportation business? Join Tenney Group's private Buyer Network where we take the time to learn about your specific business goals and only bring you possible deals that fit those goals.  

https://www.thetenneygroup.com/buying-a-business/   

Interested in selling your transportation business? Click the link below to see our process and find out if we can help you achieve your business goals.  

https://www.thetenneygroup.com/our-process/

Loved having Beth Carroll, owner of the Prosperio Group, on the show. She breaks down the issues with driver retention in today's transportation world.

Looking to acquire another transportation business? Join Tenney Group's private Buyer Network where we take the time to learn about your specific business goals and only bring you possible deals that fit those goals.  

https://www.thetenneygroup.com/buying-a-business/  

Interested in selling your transportation business? Click the link below to see our process and find out if we can help you achieve your business goals.  

https://www.thetenneygroup.com/our-process/

Cummins Inc. (NYSE: CMI) and Meritor, Inc. (NYSE: MTOR) have announced a deal where Cummins will pay $36.50 in cash per Meritor share. This brings the total deal value to approximately $3.7 billion.   This is a major acquisition in the transportation industry. Spencer Tenney spoke with FreightWaves TV's Anthony Smith and Tony Mulvey about this acquisition and what it means for the transportation industry going forward.

Bill Zenk and Sara Larson of TrueNorth Companies stop by The Hot Seat to talk about the rising insurance costs of all transportation companies and some thoughts on how owners can mitigate these rising costs.

Looking to acquire another transportation business? Join Tenney Group's private Buyer Network where we take the time to learn about your specific business goals and only bring you possible deals that fit those goals.  

https://www.thetenneygroup.com/buying-a-business/  

Interested in selling your transportation business? Click the link below to see our process and find out if we can help you achieve your business goals.  

https://www.thetenneygroup.com/our-process/