Vision Industries Corp. (fka VIICQ)

[samsamsamiam]

TTSI doesn't own those trucks - they are leasing them from VIIC.

They leased them with a 4 year contract. it's in the filings.


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And considering they were supposedly BUYING all those trucks how do you explain all these LEASING notes with TTSI????

Current Portion of notes payable

TTSI Lease
2/29/2012
15%


95,184
Asher 6
6/26/2012
8%


32,500
TTSI
8/22/2012
8%

50,000
50,000


Non-Current portion notes payable




TTSI Lease
2/29/2012
15%

280,630
185,446


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They were production prototypes:

On February 29, 2012 the Company leased back the production prototypes that were sold as part of the Sales-Leaseback agreement with Total Transportation Services Inc. mentioned in Note 9. The Company has elected to capitalize the lease.

...
On February 29, 2012, Vision entered into a Sale Leaseback Agreement with Total Transportation Services, Inc. (TTSI) of Rancho Dominguez, California. In the Agreement, TTSI would be allowed to purchase two (2) prototype hybrid Class 8 trucks from Vision for $285,000, payable with interest at a rate of eight percent (8%) per annum in five (5) installments of principal and interest in the amount of $58,145. The base lease obligation is $285,000, plus a 15% interest payable in forty-eight (48) monthly installments of $7,932 starting on or about August 1, 2012. At the end of the lease period, Vision will have the option to buy-back the vehicles for a $5,700 fee, plus a return of sales tax paid by TTSI.

...



On February 29, 2012, Vision entered into a Sale Leaseback Agreement with Total Transportation Services, Inc. (TTSI) of Rancho Dominguez, California (see Note 9.) The lease is payable in forty eight (48) monthly installments of Seven Thousand Nine hundred Thirty-two-dollars ($7,932) starting on or prior to August 1, 2012.

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Not sure I would trust that guy from TTSI - seems he more than his share of problems right now in Long beach.

http://teamster.org/news/2014/09/teamsters-port-division-assisting-truck-drivers-fired-ttsi
Los Angeles, CA – On Wednesday evening, Sept. 3, 2014, at least thirty-three (33) port truck drivers who participated in recent unfair labor practice strikes and filed “wage and hour” claims with the California Division of Labor Standards Enforcement (DLSE) were fired by their employer, Total Transportation Services Inc. (TTSI), when they refused to acquiesce to the company’s illegal demand to withdraw their claims for wage theft as misclassified “independent contractors.” Drivers fired by TTSI on Sept. 3 include four (4) drivers who, just last week, were each awarded on average $68, 211 in stolen wages after being found by the DLSE to be misclassified as “independent contractors.” The Teamsters Port Division is in the process of taking statements from the drivers, helping the drivers file claims for unemployment benefits, and notifying the appropriate authorities regarding egregious violations of labor law.

“The Teamsters stand by these illegally fired port truck drivers,” said Fred Potter, Director of the Port Division, International Brotherhood of Teamsters. “TTSI’s illegal actions have shined a spotlight on the lawlessness that pervades the drayage industry and we will not stop until every misclassified “independent contract” port truck driver in America has the dignity of being classified as an “employee” and the right to join a union without the harassment, intimidation, and retaliation that they are afforded under the National Labor Relations Act.”

“The firing of these drivers is unconscionable, immoral, and illegal,” said Rabbi Jonathan D. Klein, Executive Director of Clergy and Laity United for Economic Justice (CLUE). “Companies like TTSI that so blatantly violate the law must be held accountable by our city and port leaders. They are violating the law and violating the terms of their agreements with the ports. Unless they reverse their violent and unlawful attacks against their employees and show themselves to be responsible employers, they should no longer be allowed to do business at the Ports of LA and Long Beach.”

In July, port truck drivers at the twin ports of Los Angeles and Long Beach went on an indefinite strike to protest severe and continuing labor law violations – the drivers’ fourth such strike in a year. After five days of picketing that dramatically impacted port operations and garnered international media attention, Los Angeles Mayor Eric Garcetti brokered a “cooling off” period, which critically included an agreement by TTSI (and other companies) to accept all drivers back to work without retaliation and specifically without being forced to sign away all future rights in new truck leases (see next paragraph). Despite commitments to Mayor Garcetti, the company has dramatically escalated retaliatory activity, clearly violating the terms of the cooling off period.

Two weeks prior to the July strike – on June 22, 2014 – TTSI announced to its drivers that effective Aug.1, 2014, it would be terminating the leasing arrangement that had been in effect for more than five years. Instead, drivers would be required to provide their own trucks, either by switching over to a third-party leasing intermediary or by financing or purchasing a truck through some other means. In addition, drivers would also have to sign a new “independent contractor agreement” and withdraw their claims for wage theft with the DLSE or be terminated. The terminations were set to be effective Aug. 1, 2014, but were delayed to Sept. 1, 2014. On Aug. 29, the last working day before the deadline, drivers attempted to meet with the company to sign the new leases so they could continue working but were told to return on Sept. 2. When they met with thecompany on Sept. 2, they were initially told that they would not be required to withdraw their DLSE claims, and in fact, some drivers signed the new lease agreements and were dispatched to the ports for work. However, while other drivers were awaiting their turn to sign, the company abruptly changed course and demanded withdrawal of all DLSE claims.

“While we were waiting, the company changed their mind and told us that if we didn’t withdraw our DLSE claims we would not be allowed to sign the new contract. The drivers that did sign the new contracts and were back at work were sent a message on the QUALCOMM saying that they should return to TTSI and they are ‘out of service’,” said fired TTSI driver Elmer Chacon in a statement.

On Aug. 26, 2014, the Long Beach office of the California Division of Labor Standards Enforcement (DLSE) issued an Order of Decision or Award (ODA) for claims heard on June 18, 2014, for fourteen (14) truck drivers who work for Total Transportation Systems, Inc. (TTSI). These determinations found the following:
•The company failed to prove that the drivers are legitimately classified as independent contractors. As such, the DLSE determined that all fourteen drivers were employees and that the massive deductions from drivers' paychecks of money for fuel, insurance, parking, and other TTSI business expenses were illegal and are owed to the drivers.
•These illegal deductions were added to the sum of damages for unpaid waiting time and rest and meal breaks not provided todrivers over three years. These awards sum to an amount of $954,953.62 (average of $68,211 per driver).
•These are not the first or the last such claims. The company was found to be misclassifying two other drivers in 2013, finding them to be employees and awarding them almost $200,000. There are more than 30 additional claims pending hearings at DLSE. The total amount of wage theft claims against TTSI by drivers is approximately $4.8 million owed in back pay and damages.

For more information on the port truck drivers’ campaign, visit www.JusticeForPortDrivers.org. Follow us on Twitter @PortDriverUnion. Like us at Facebook.com\Justice4PortDriversLA

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http://wepartypatriots.com/wp/2014/09/11/strikes-suits-and-wrongful-firings-port-truckings-wonderful-world-of-endless-tension/

Last week, thirty-three port truck drivers were fired by Total Transportation Services Inc. (TTSI) for not withdrawing wage and hour claims made with the California Division of Labor Standards Enforcement (DLSE). Four of the fired drivers had just been awarded an average $68,211 in back wages after the DLSE found that they were misclassified as independent contractors.

According to Karen Robes Meeks of The Daily Breeze:

Of the 33 drivers who say they were let go, at least 29 have pending state labor claims totaling roughly $4.8 million in back pay and damages. The other four drivers were each awarded on average $68,211 in back pay last week after the state labor department ruled that the company misclassified employees as independent contractors.

Drivers said when they met with Total Transportation on Sept. 2, they were told at first that they did not have to drop their wage claims. Some were allowed to sign new lease agreements and returned to work.

But not all drivers received the same deal.

“While we were waiting, the company changed their mind and told us that if we didn’t withdraw our DLSE claims we would not be allowed to sign the new contract,” Elmer Chacon, one of the drivers let go, said in a statement. “The drivers that did sign the new contracts and were back at work were sent a message on the Qualcomm saying that they should return to TTSI and they are ‘out of service.

“Out of service” means that the truck drivers were no longer registered with TTSI’s dispatch service and therefore cannot work for the company.”

The firings come one week after a 5-day strike was launched against TTSI and other trucking industry players, Pacific 9 and Green Fleet Systems. In response to the firings, Fred Potter, Director of the International Brotherhood of Teamsters’ Port Division, said in a statement:

“The Teamsters stand by these illegally fired port truck drivers. TTSI’s illegal actions have shined a spotlight on the lawlessness that pervades the drayage industry and we will not stop until every misclassified “independent contract” port truck driver in America has the dignity of being classified as an “employee” and the right to join a union without the harassment, intimidation, and retaliation that they are afforded under the National Labor Relations Act.”

Rabbi Jonathan D. Klein, Executive Director of Clergy and Laity United for Economic Justice (CLUE), a community group that supports the truckers also supplied a statement:

“The firing of these drivers is unconscionable, immoral, and illegal. Companies like TTSI that so blatantly violate the law must be held accountable by our city and port leaders. They are violating the law and violating the terms of their agreements with the ports. Unless they reverse their violent and unlawful attacks against their employees and show themselves to be responsible employers, they should no longer be allowed to do business at the Ports of LA and Long Beach.”

TTSI representative Alex Cherin said the decision had nothing to do with the claims and was simply business as usual:

“Some owner-operators decided not to renew their contracts with the company and those contracts have now expired. A vast majority of the owner-operators — including some with pending claims — chose to renew their agreements with TTSI.”

Currently, wage theft claims against TTSI total approximately $4.8 million in back pay and damages.