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So far chapter members Swift said the CEO has been working under the boards leadership to reduce his shares pledged for margin loans. Swifts stock surged 22%. I had always figured it was owned by the Indians and Navajo nation. Near the end of 2016, Moyes announced he would retire at the end of the year. After leading a buyout that took Swift private in 2007, he relisted it on NYSE in 2010 before announcing his retirement inSeptemberafter investors questioned if a stock-buyback plan was intended primarily to shore up the value of his Swift stake. the water and does not need to be manipulated. Pluses: Glamour spot; easy access to the lakes most iconic landmarks. Under Chapter 11 proceedings, owners usually rank below other creditors and rarely receive any of the proceeds from asset sales. Looks like an Adonia. In 2013, the board revised the limits, lowering the cap to 15% as of July 2014 and to 10% as of July 2015. He plans to hoist the Stanley Cup over his head while standing out in the Arizona desert on the world's largest floating concrete island. After all, a houseboat is the ultimate Lake Powell splurge in culinary terms, sort of like ordering a lobe of foie gras with your beef filet. He is definitely covered when it comes to life vests on board! For more than 50 years, PHOENIX magazine's experienced writers, editors, and designers have captured all sides of the Valley with award-winning and insightful writing, and groundbreaking report and design. Public asset : 315,513,844 USD. Our pump prices are lower, and youll use fewer gallons along the way. "I believe that the share repurchase at these ridiculous low prices can make a lot of sense," he told investors on a conference call. Jerry Moyes' house in Glendale, AZ (Google Maps) Glendale, Arizona (AZ), US. $2.5 billion, according to our most recent tally. Whether for your family or a large group, we have you covered! Industry people believe Jerry Moyes could be one of the best trucking executives ever, says Jeffrey Kauffman, an analyst at Aegis Capital. cabinetry that was handcrafted by an Amish woodworker. Antelope Point offers an elegant solution. Dont be put off by the name. Also, if the stock price falls, holders of pledged shares could be forced to sell rapidly, hurting the price even more. Court judge, is assistant general manager. Our expository features, narratives, profiles, and investigative features keep our 385,000 readers in touch with the Valley's latest trends, events, personalities and places. Dont let your vacation run aground. From what I heard he is no longer part of Swift trucking. me and my friends were at lake powell and we saw a big ass helicopter take off a houseboat! Native American. May 3, 2016 2:35 pm ET. Please subscribe to keep reading. They did a superb job, said Wittenberg, who is off to Abu Dhabi and Dubai in the United Arab Emirates this week to talk with investors about adding floating concrete homes to that booming shoreline on the Persian Gulf. I was always told it was both Swift and Knight trucking who put up the cash so to speak, but always dancing with the Navajo. ENLARGE The chief executive of Swift Transportation Co., one of the largest trucking firms in the U.S., not only faced demands for more loan collateral but ran up against company limits on the extent of his borrowing. geneology to match the project. Plenty warm, so you can enjoy the water, but without the Memorial Day-Labor Day peak crowds. Afterward, pop open a cold beverage of some sort and mull this gobsmacking fact: Even if you motor all the way to Rainbow Bridge, theres still roughly 70 percent of the lake to explore a whole constellation of slot canyons, watery switchbacks and vast flats that extends deep into Utah. Minuses: Youre a helluva haul from Rainbow Bridge and other popular landmarks. JavaScript is disabled. They are so used to getting freebies that when it is time to actually run a business it is a disaster. I knew about Moyes but not the back taxes. Show more 14K views 13. He stepped down as chairman of Swift in 2016, after 50 years in the business. Arent they putting in a rv park over there to. Picking a piece of Lake Powell to anchor your boat can feel daunting initially. Richard Dozer, Swifts chairman, added that the $100 million share repurchase plan that we, as a Board of Directors, authorized in September of 2015 had absolutely nothing to do with Mr. Moyes stock pledging, or margin calls. A company spokesman said several large shareholders had urged Swift last summer to consider share repurchases. Navajos are in trouble with the power plant closing and casinos down with this COV-19 crap and people dieing its not good out on the res , I have lots of friends out on it . Interesting bit of info I found. Antelope Points high-capacity carts conveniently whisk you, your gear, and crew from the parking lot to the docks, restaurant and back again. Despite Tuesdays price jump, Swifts stock remains down by 40% from a year ago. On the other hand, this has been going on for a while, and investors do have a legitimate question here about what took them so long.. CEO of Swift trucking. Year one, or Phase I, calls for a completion of a building improvement plan that details the construction of boat rental and marina parking areas; a boat repair facility and a marina maintenance; a boat dry storage and facilities; and a campground complex et al on the leased land at a guaranteed annual minimum rent of $50,000. Within a couple years of the ne facility opening, they figured why not get rid of upper management. And one of those deemed independent, Mr. Dozer, spent years helping run a business that was partly owned by Mr. Moyes, the Arizona Diamondbacks. Glorious contradiction. For a better experience, please enable JavaScript in your browser before proceeding. 225-casita resort hotel atop a nearby hill overlooking the The peninsula near the Navajo Generating Station east of Page It's crazy how fast places get built up. Pretty cool resort to stay at whether in the motorhome or in a room. The board waived the 15% restriction, giving him until the end of 2016 to reduce his position, according to SEC filings. A year later a lawsuit, ultimately dismissed, sought to make him repay $110 million he borrowed from a trust set up for his children. Summary. Moyes owned the Phoenix Coyotes hockey team, with minority partner Wayne Gretzky, until the team filed for bankruptcy in 2009 and was sold to the NHL. The marina has been drought-proofed because it rests atop Above that line on Navajo land, 72 percent is A stock slump last year squeezed trucking executive Jerry Moyes, who had borrowed heavily against his shares in the company he founded. It must become acceptable that their stories will be fragmented, that their affect may be inappropriate because they are shielding themselves from being re-traumatized. Moyes took Swift public once again in 2010, listing on the New York Stock Exchange. The Coyotes' financial success has always been a huge gamble for the franchise's majority owners -- real estate developer Steve Ellman and trucking kingpin Jerry Moyes. Independent directors met and sanctioned Mr. Moyes, saying he would forfeit two months of salary and his 2015 bonus. Village is located at water's edge, and fountains are being Subscribe. is located on the main channel of Lake Powell, with water depth of They own the land and lease the land to Jerry Moyes. stock it with food to cook in your full-service kitchen). But the sister of one of Dahmer's victim's said it's sad that the producers are. now bustles with activity. Located at Rock Creek Bay, this rare geological formation is another treasure revealed by the lakes dangerously low water levels essentially a watery cavern with a sunroof. Swift grew to nearly 20,000 trucks and some $4 billion in annual revenue before it merged with Knight Transportation in 2017. On the Shores of Lake Powell,The Navajo Nation In the Grand Canyon State of ArizonaCopyright 2022 Antelope Point Marina | All Rights Reserved. To read the full article, pick up Saw him at LPC the last three years. A second launch ramp has been built to serve the private Youll have roughly a 280-gallon gas tank in your houseboat, and youll expend about 35 gallons of that getting to Warm Creek Bay (see map below) during a three-hour journey. Share. Like. 24 disaster mitigation projects valued at $11 million completed in B.C. So much of what we watch now owes a pop culture debt to Jerry Springer. Antelope Point Marina pilots the houseboat in and out of dock free of charge, and also offers piloting and mooring services on a per-charge basis. LAKE POWELL HOUSEBOATING | That's a bad day, https://wayneswords.net/threads/houseboat-swamped-zeus-in-padre-bay.6274/. You are using an out of date browser. TotalEnergies sells Canadian operations to Suncor in deal worth up to $6.1B, 2023 VICA Awards showcase talents of member companies, Ladysmiths historic Island Hotel set for a major facelift, UVic engineering lab a hub of AI research and activity, BC Hydro proposes leaving Site C structures at the bottom of the Peace River. You can always fill your truck or tailgate with groceries purchased in the Valley, but local outfitter Captains and Crews Boat Service (lakepowellgroceries.com) offers a shop n drop amenity in which customers order groceries online and pick them up at the marina. Rent houseboats, kayaks, pleasure craft, pontoons, wave runners Book a tour, charter, fishing trip theres a lot for everyone at Antelope Point Marina. Instagram vigorously. Another indication of Velaa has noticed an interesting trend in bookingsabout 45 percent of their guests have been family/multi-generational bookings this year. Moyes, 63, had one truck in 1966 when he started his trucking firm and called it Swift. The 55-foot houseboat we sailed or drove, more accurately from Antelope Point Marina near the Arizona town of Page and moored on this solitary beach. After reporting quarterly results this week, Mr. Moyes on Tuesday called for a $200 million stock buyback and said he would seek board approval in February. [1] He was a majority owner of the Phoenix Coyotes of the National Hockey League before the Coyotes filed bankruptcy and were sold to the NHL in 2009, and the Arizona Sting of the National Lacrosse League. Mr. Moyes has often used his stake in Swiftwhich he took public again in 2010to help fund other pursuits, analysts say. part-owner of the Phoenix Coyotes and founder of $2.6-billion Swift David Cheney will be taking the role of NAH's CEO on July 10. Plus, make things more interesting with competitive Wordle! The private slips now number 90, the marina and Marina Village with a three-day grand opening Antelope Point also The Chief Executive Officer and Chairman of the Board of Swift Transportation and owner of the Phoenix Coyotes lives here. Lower Fuel Costs Boating from Antelope Point Marina is easier on your wallet. Read the most recent three weeks of stories by logging in to your online account. Minto Communities GTA recently unveiled the first net-zero home OTTAWA The Canadian Construction Association (CCA) has issued a statement crit Shocked and horrified are among the reactions Ontario architectural stakehol VAUGHAN, ONT. It may not display this or other websites correctly. @ 33.60874, -112.199396. From his floating island Moyes rents out elaborate houseboats at $1,650 US/day for vacationers to cruise amidst the stunning scenery of towering mesas and box canyons with 1,000-foot-high walls of red rock. 22B was improved and a public launch ramp was built at Antelope Below the 3,720-foot elevation mark, on water-based properties The same notion seems to have captivated my shipmates, assembled on the deck for a sunset aperitif, our mutual silence confirming the specialness of the moment. To help fulfill one dream he teamed up with Wayne Gretzky and bought the Phoenix Coyotes. So they shut him down. I was very impressed.". spring. One of his great uncles was Art He is also the owner of charter airline Swift Air and FBO Swift Aviation at Phoenix Sky Harbor International Airport. It's beautiful," Ricks said. Its floating concrete front sidewalk gives him access to terra firma. Jerrys always got a bunch of money collateralized, said Art Hatfield, an analyst at brokerage firm Raymond James. Picking a houseboat is chiefly a function of how many? which is to say, how many people you have in your group. Links: coyotes.nhl.com. We always go to Wahweap anyway. Homes - Celebrity - Business, Homes - Celebrity - Sports - Ice Hockey. As those limits gradually kicked in, directors gave Mr. Moyes additional time to meet them, which could be done by moves such as reducing his personal debts or using collateral other than Swift shares. stage, to see it get developed," said Chrystal Schoppmann, a The other was to build the worlds largest floating concrete island. Schoppmann's husband, general manager John Schoppmann Jr., has a Antelope Point Marina owner Jerry Moyes takes Tara on a quick private tour of his houseboat, The Big Dog! For example, on Oct. 30, Mr. Moyes pledged 3.3 million shares to Citigroup and received $48.3 million in cash. Minuses: Youll spend about $500 in gas to get there. Are you a digital subscriber? "It's in John's blood," said Chrystal Schoppmann, who went to Fredonia. As for the 10% limit, the board delayed imposing that for another yearuntil the end of 2016so that the margin positions could be reduced in an orderly fashion, according to the filing. When they decided to to go big, they were really open to the non-tribal upper management. Steve Vondra. In a third-floor engineering lab at the University of Victoria (UVic), PhD, mast BC Hydro is asking for permission to leave 45 structures at the bottom of the Pe 2023 ConstructConnect Canada, Inc. All rights reserved. Whether youre a waterskiing, cliff-jumping adrenaline junkie, or a bookworm who just wants to Zen out to gorgeous views, the lake is your jam. We get the slightly more modest, four-bedroom Titanium ($5,580/three-day rental), but truth be known: It would sleep 15 just fine, too, given how pleasant it is to lay out some cushions on the boats top deck and slumber under the stars. Near the marina store is a rental fleet of 59 watercraft. treatment facilities. Text. Minuses: Five-hour sailing commitment. Heres what we see, in the gloaming of Lake Powell: miles of peaceful water laid out like a rippling bedsheet, framed by the vast desert cradle of Glen Canyon, still blazing orange and yellow with surreal late-day sunlight. To analysts of corporate governance, board size matters: While too-large boards can be unwieldy, too-small boards can turn into echo chambers and foster an eagerness among directors to get along in the face of tough decisions. The fall triggered margin callsdemands to make up shortfalls in the value of collateralwhich Mr. Moyes sometimes dealt with by pledging more Swift shares. THIS STOCKHOLDERS AGREEMENT, dated as of April 9, 2017 (this " Agreement "), among (i) Swift Transportation Company (to be renamed Knight-Swift Transportation Holdings Inc.), a Delaware corporation (the " Company "), and (ii) Jerry Moyes (" Jack "), Vickie Moyes (" Jack Spouse "), Jerry and Vickie Moyes Family Trust Dated 12/11/87, an Arizona grantor trust (the " JVMFT . He built Swift from a single truck in Phoenix into a coast-to-coast giant with 18,000 trucks and $4 billion in annual revenue. You found your spot? Darkness and light together. Boating from Antelope Point Marina is easier on your wallet. After deciding on your boat, you need to provision it (i.e. more than 400 feet. Transportation, has sunk an $80 million investment into Antelope Weve got a position waiting for you in the warm sun and next to the cool Lake Powell water. governed by the National Park Service, 55 percent of the staff is To see the number of people That was the start of International Marine Flotation Systems, which today is building floating concrete homes on waterfronts throughout the world. They asked him to reduce the portion of his shares pledged as collateral to 15% or less by Nov. 4, according to an SEC filing. The CEOs total shares pledged either on margin loans or in the Citigroup contracts amount to more than 60% of his familys Swift holdings. houseboat tours and fireworks. Unable to turn around the team's fiscal picture, he agreed in principle to sell the Coyotes to a group headed by Research in Motion co-CEO Jim Balsillie, who intended to move the team to Hamilton, Ontario. An audit showed the team had never. Jerry Springer, Legendary Talk Show Host, Dies At 79 Jerry Springer, the former Cincinnati mayor who rose to tremendous fame as a syndicated talk show host, died Thursday at his home in the.