The $800 billion U. S. trucking industry, considered by many insiders to be the canary in the coal mine in regard to the health of the nation's economy, is getting some worried glances by some of those insiders. According to recent figures, freight rates and loads on the spot market, were down by 62.6 percent in May compared to previous years' May numbers.
In a move that might at first glance appear to be counter-intuitive in light of the driver shortage, a trucking group is calling for the purging of at least 300,000 drivers -- but their main concern is public safety, as this is the number of drivers they estimate are un-caught illicit drug abusers.
Uber, the ride-hailing giant that gives taxi companies headaches has set its sights on competing against the top players in the freight brokerage business.
In this week's Friday Short Haul we report on the $100 million Prime-Swift settlement, see why Barron's thinks the driver shortage is a myth, and announce the TCA Best Fleet to Drive For award.
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