Thursday, August 22, 2013

A New Chapter in the Pilot Flying J Saga: Meet Lane Kidd

Posted By on Thu, Aug 22, 2013 at 8:30 AM

Whew, this story in the Tennessean is interesting. You know all that talk of Pilot being on the verge of a settlement with all the trucking companies they screwed over?

That's happening because National Trucking Financial Reclamation Services LLC, filed a class-action lawsuit against Pilot. But it turns out that the other trucking companies that would be affected by the settlement are pissed, because the settlement wouldn't get them any more than what Jimmy Haslam has already promised them, and so we're learning a lot more about National Trucking Financial Reclamation Services LLC.

National Trucking Financial Reclamation Services LLC is headed by Lane Kidd. As Walter Roche explains, "Kidd also is the head of the Arkansas Trucking Association, which counts Pilot as a major contributor and a member." And the National Trucking Financial Reclamation Services LLC didn't exists until after the Feds had raided Pilot, which means it never bought gas from Pilot and was never affected by the manual rebates scam.

So, how can it participate in the lawsuit? For the answer to that, we turn to NBCSports:

Indeed, the named plaintiff in the case that sparked the settlement — National Trucking Financial Reclamation Services, LLC — reportedly is a company that has bought up the rights up multiple Pilot Flying J customers, possibly at pennies (or close to it) on the dollar. For that specific entity, a settlement that pays out 100 cents on the dollar plus interest of the money that essentially was stolen will be a windfall.

And it turns out Kidd could use a windfall. From Roche's story: "Kidd, who is in the midst of a federal bankruptcy case with his wife, Jennifer, earned $194,729 from the association in the most recent fiscal year, according to the association’s tax returns."

So, a guy who could use the money, with ties to Pilot, whose group depends on Pilot money, sets up a corporation right after the raid to sue Pilot, and would settle in the way most beneficial to Pilot.

Huh. That sure is interesting.

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