An Open Letter from Russ Steele the President and CEO of SR International Logistics
Denver Colorado
The unscrupulous website rip off report has a posting that has a negative connotation about my Shipping Company and I want to address this sensitive issue. They have a posting on their site entitled S R International Logistics Truckers BEWARE S. R International is a Freight Forwarder who does not pay for moves. This issue has been resolved long ago but the rip off report will not remove it unless we pay them a large up front fee of USD $12,000.00 and an additional monthly fee. Tantamount to extortion is their offer and I have refused to pay and have decided to directly address the issue instead.
For many years my Company had its main line of credit with Premier Bank in Denver Colorado. Premier Bank was in a bad position with the Federal Reserve Bank and became greatly restricted in their ability to issue loans or sustain current loans. They froze our line of credit which SR International Logistics was dependent on to conduct business. In the freight industry a line of credit is absolutely necessary as freight needs 60 to 90 day terms for international shipping.
Most banks are not inclined to give loans on foreign accounts receivable and to a Company that has no current line of credit. SR International Logistics had our line of credit prematurely terminated because Premier Bank became severely restricted by the Federal Reserve Bank and the Colorado State Banking Commission. The compounding factor of the current economic climate had greatly restricted our ability to secure a line of credit in a timely fashion with a good bank. Additionally, SR International Logistics was experiencing growing pains at the time and was in need of a larger line of credit.
As a result of this perfect storm it hampered SR International Logistics ability to pay some of its creditors on a timely basis. All accounts with our vendors have been settled and paid in full. The stress this put on my staff caused them to avoid conversations with angry creditors as they had no answer for them at that time. SR International Logistics is very sorry for this situation and not communicating with our vendors. Unfortunately, a trucking company in Ohio by the name of PB Express became rightfully angry and posted a negative comment about SR International Logistics on rip off report. This matter was resolved and the debt was paid not because of the posting on rip off report but because SR International Logistics pays it debts.
SR international Logistics secured a line of credit in early 2008 with Vectra Bank, restored its credit history and is current on all of its accounts with venders. SR International Logistics has always paid every single vendor and intends to stay current with all of its logistics partners. What happened with PB Express was regrettable and SR International Logistics is profoundly sorry for this incident and would like to thank all creditors that stood by them in this difficult time. They would also like to extend a sincere apology for problems this may have caused anyone.
Thanks and Very Best Regards,
Russ Steele
President and CEO
SR International Logistics
