Comment / STG nears bankruptcy exit, but the 'intermodal math' that broke it hasn't changed

ID 132576299 © Ratz Attila | Dreamstime.com

In a nutshell: The nation’s fourth-largest asset-based intermodal marketing company is about to emerge from Chapter 11, leaner and under new ownership. Whether it emerges smarter is another question entirely.

STG Logistics said last week it had cleared the final hurdles to exit Chapter 11, settling litigation with minority lenders and securing court approval to hand majority ownership to Fortress Investment Group and Invesco in exchange for eliminating 91% of its outstanding debt (roughly $1 billion), and injecting up ...