Overdrive Extra

Max Heine

Ex-Arrow chief loses expensive home

| July 08, 2010

Former Arrow Trucking drivers, as well as those disgusted by the company’s mismanagement, might gain some slight sense of vindication in reading the Tulsa World’s account of the foreclosure on the home of former Arrow Trucking Chief Executive Officer Doug Pielsticker.

The home, like Arrow in its final days, was way too deep in debt. Three mortages on the property exceeded $3 million, more than the home’s appraised value of $2.5 million, says the newspaper.

The company’s sudden closure days before Christmas, stranding drivers all over the country, was one of the industry’s biggest stories last year.

If you’re keen for details on how the bankruptcy is progressing, check the Tulsa World’s article from last month, “Assets of Arrow Trucking operations consolidated.”

Notice: Overdrive is transitioning to a new comment platform due to technical problems with the former commenting system. The new commenting system is now live. We are currently in the process of moving all of the comments from the old system into the new system. We appreciate your patience in the meantime.