Comments By Cornelius A.

https://cdn.truckingtruth.com/images/red-pete3.jpg avatar

Page 2 of 4

Previous Page
Next Page
Go To Page:    

Posted:  1 month, 3 weeks ago

View Topic:

Owner operator

Just asked an owner , the rates are between $1.8 to $2.20 per miles depending of the area, same for sprinters

double-quotes-start.png

theyb have to provide me with their profit and loss statements

double-quotes-end.png

I agree with Old School. That means nothing. They're not publicly held companies. They're not obligated to release any financials under oath. They can just make those numbers up.

Turning $250,000/year in revenues is massive for a straight truck. Are these teams? What kind of mileage pay are they getting?

Posted:  1 month, 3 weeks ago

View Topic:

Owner operator

Yes they are .... theyb have to provide me with their profit and loss statements and they are some people who do quite well

double-quotes-start.png

from looking at their financials their take home is around 2k a week

double-quotes-end.png

And by that do you mean their tax forms, specifically the line that says, "Net income after all deductions" - that's the only number that matters. Everything else is just a fantasy.

I also find it impossible to believe they're bringing home $100,000 in net profits. Don't worry though, I've found every big number impossible to believe because not one person in 26 years in this industry has ever shown me the real number.

Posted:  1 month, 3 weeks ago

View Topic:

Owner operator

What i can say is that most of my successful trucking customers are into the expedited side of things where they run 26k lbs or less trucks.... they gross around $5k per week , 13% goes to the dispatching company and the rest goes towards all the expenses that comesm with trucking , from looking at their financials their take home is around 2k a week

$

Posted:  1 month, 3 weeks ago

View Topic:

Training with Veriha updates...

Marc can fix everything including backing a truck.... Marc you are a great inspiration to many and have inspired me in other aspect in my life... keep up the good work

Posted:  1 month, 3 weeks ago

View Topic:

Rookie Solo Adventure, thoughts, questions, vent, and ramble.

I live in Chicago which in chicago language means i live in the suburbs. Living and parking in Chicago is a nightmare. meaning a lot of people live in the suburb and have to use that metra train to make it to their jobs .... parking in chicago at its cheapest is $32 bucks a day but can be cheaper if you catch the early bird thing

Spoonerist relates:

double-quotes-start.png

I might’ve shared above that I’m studying dimensional/perceptual reality and how it relates to human (Western) society.

double-quotes-end.png

I am in Chicago and saw the "Metra" commuter train and pondered explaining the "commuter train" concept to horse and buggy folks.

I would get some feedback from some of the experienced drivers on the forum about teaming before taking the leap.

Posted:  2 months ago

View Topic:

So you want to start your own trucking company?

I work with many trucking companies

double-quotes-start.png

Factoring companies charge between 1.5% to 3% depending on your volume of loads.... Landstar for example offer their own factoring for 1.5%. They set you up with a fuel card that gives you a 15% discount at the pump.... most loads go for 2.15 cpm ...if you are using a dispatching company they charge you 13% for the dispatching and handling of all your paperwork, uber freight charges 1% otherwise you can sign up with brokers directly if you are operating under your own authority

double-quotes-start.png

double-quotes-start.png

Another thing not mentioned in the article: FLOAT.

As in - most accounts-payable are "Net 30", and the time and expense that comes with having to CHASE YOUR MONEY.

Many O/O's choose to use "factors" - that is, people who will essentially pay off your BOL's, for a 10% fee. Usually only from "approved brokers or shippers". There's also CHARGEBACKS, BOL's that end up NOT PAYING - which results in your factor taking the $$ they advanced you BACK. Most factors will require you to be EXCLUSIVE TO THEM (no "multiple factoring companies") which means you can only take loads that THEY APPROVE (which are loads they have a high confidence will ACTUALLY PAY THEM). So knock another 10% of that gross revenue fee. It's a VICIOUS WORLD out there - between competition, shady brokers. And if you think you get used/abused by shippers as a company driver for a major company - O/O's end up even lower on the totem pole.

Also find the $1.85CPM from brokered loads might be a "little high". Spot rates from brokers are running a bunch lower now (haven't been on the load/brokerage boards in awhile). A lot of the rates are dependent on location. And many "slow lanes" are significantly less. You will NOT SEE $1.85 coming out of S. Florida - and many folks won't even come INTO S.Fla without a rate over $2.00 - so they can just turn around and deadhead out.

As far as a "rookie", just buying a setup and jumping in - most insurers will only insurer a "new guy" with INTRASTATE insurance for year one - which means NO OTR. Even that was incredibly expensive (upwards of $15K).

I did EXTENSIVE RESEARCH a few years ago at the possibility of purchasing a setup and getting on the road as an independent. Even with FULL CAPITALIZATION (as in $200K liquid) and a business plan approved my my accountant and attorney - the risk to reward ratio just DIDN'T JUSTIFY THE EXPENSE.

It's called: BUYING A JOB - and not a good paying one. The "return on investment" was so low, I would be better off putting my $$ in a CD or money market account...

For every GOOD REASON someone thinks they want to go O/O, there are THREE that say you shouldn't. Not to say that there aren't O/O's that aren't making a decent living (and I know a few) - but these are SEASONED VETERANS, not newcomers.

Rick

double-quotes-end.png

double-quotes-end.png

double-quotes-end.png

Source?

Posted:  2 months ago

View Topic:

So you want to start your own trucking company?

Factoring companies charge between 1.5% to 3% depending on your volume of loads.... Landstar for example offer their own factoring for 1.5%. They set you up with a fuel card that gives you a 15% discount at the pump.... most loads go for 2.15 cpm ...if you are using a dispatching company they charge you 13% for the dispatching and handling of all your paperwork, uber freight charges 1% otherwise you can sign up with brokers directly if you are operating under your own authority

Another thing not mentioned in the article: FLOAT.

As in - most accounts-payable are "Net 30", and the time and expense that comes with having to CHASE YOUR MONEY.

Many O/O's choose to use "factors" - that is, people who will essentially pay off your BOL's, for a 10% fee. Usually only from "approved brokers or shippers". There's also CHARGEBACKS, BOL's that end up NOT PAYING - which results in your factor taking the $$ they advanced you BACK. Most factors will require you to be EXCLUSIVE TO THEM (no "multiple factoring companies") which means you can only take loads that THEY APPROVE (which are loads they have a high confidence will ACTUALLY PAY THEM). So knock another 10% of that gross revenue fee. It's a VICIOUS WORLD out there - between competition, shady brokers. And if you think you get used/abused by shippers as a company driver for a major company - O/O's end up even lower on the totem pole.

Also find the $1.85CPM from brokered loads might be a "little high". Spot rates from brokers are running a bunch lower now (haven't been on the load/brokerage boards in awhile). A lot of the rates are dependent on location. And many "slow lanes" are significantly less. You will NOT SEE $1.85 coming out of S. Florida - and many folks won't even come INTO S.Fla without a rate over $2.00 - so they can just turn around and deadhead out.

As far as a "rookie", just buying a setup and jumping in - most insurers will only insurer a "new guy" with INTRASTATE insurance for year one - which means NO OTR. Even that was incredibly expensive (upwards of $15K).

I did EXTENSIVE RESEARCH a few years ago at the possibility of purchasing a setup and getting on the road as an independent. Even with FULL CAPITALIZATION (as in $200K liquid) and a business plan approved my my accountant and attorney - the risk to reward ratio just DIDN'T JUSTIFY THE EXPENSE.

It's called: BUYING A JOB - and not a good paying one. The "return on investment" was so low, I would be better off putting my $$ in a CD or money market account...

For every GOOD REASON someone thinks they want to go O/O, there are THREE that say you shouldn't. Not to say that there aren't O/O's that aren't making a decent living (and I know a few) - but these are SEASONED VETERANS, not newcomers.

Rick

Posted:  2 months ago

View Topic:

How is alcohol consumption related to being in the truck?

Its 0.04.... but i have seen tickets such as having alcohol in a CMV even though the bottle was closed and the driver was not drinking. i have also seen a driver who was ticketed for possession of alcohol during his 34... he had just purchased it and the minute he got into the truck the police pounced on him.

Packrat says

double-quotes-start.png

You consent to a field sobriety test, and register at a 0.02%....

That's a DUI in a CMV.

double-quotes-end.png

is it .02 or .04?I know ANY amount is Out Of Service for 24 hours and likely out of a job.

Posted:  2 months, 1 week ago

View Topic:

Celadon Bankruptcy Imminent

Or you can say that companies are excited to snatch all these already trained drivers

Companies are really stepping up big time to help out the Celadon drivers. What a great brotherhood in the trucking industry despite all the competition. Saw this on today’s zip recruiter email

0998464001576097392.jpg

Posted:  2 months, 1 week ago

View Topic:

Post A Picture Of Your Significant Other Here’s Mine

0333498001576073684.jpg

Sadly shes not much to look at but shes all I've got. She sticks with me through thick and thin, richer and poorer, never complains, does what shes told and is always there for me. (Feel free to edit or delete if too crass)

rofl-1.gifrofl-1.gifrofl-1.gifrofl-1.gifrofl-1.gifrofl-1.gifrofl-1.gifrofl-1.gifrofl-1.gifrofl-1.gifrofl-1.gifrofl-1.gifrofl-1.gifrofl-1.gifrofl-1.gifrofl-2.gifrofl-2.gifrofl-2.gifrofl-2.gifrofl-2.gifrofl-2.gifrofl-2.gifrofl-2.gifrofl-2.gifrofl-2.gifrofl-2.gifrofl-2.gifrofl-2.gifrofl-2.gifrofl-3.gifrofl-3.gifrofl-3.gifrofl-3.gifrofl-3.gifrofl-3.gifrofl-3.gifrofl-3.gif

Posted:  2 months, 3 weeks ago

View Topic:

Will Amazon's pay-per-day plan influence the industry?

That deal is for owner operators , they dont let them drive more than 400 miles which is why they are on set pay.... that sector is booming somehow ....i have clients with the Amazon contract and they went from 1 owner operator to 50 within a year.... Amazon pays for the fuel, does the dispatching and a lot more so a lot of owner operator run to them

Those $600-800 per day numbers have to be wrong unless its just for owner operator's. Who wouldn’t jump on that deal? $3k-4k a week for 5 days, $150k per year on low end? Even if they didn't offer health insurance or 401k and you had to get your own, you would still be making a small fortune after taxes

The guy in article says his pay went down as a result of set pay per day system. Even if he was at 60 cpm, at 3000 miles previously he should be bringing more $$$ home at $600 a day

Posted:  3 months ago

View Topic:

Prepaid legal services/insurance plan

I have a lot of trucker clients that have it, that is how they fight off their tickets and DOT violations, i have seden a lot of violations be DataQed

Anybody have one? From my understanding they take a few bucks a week and if/when you need an attorney they take care of finding some in the area the litigation will take place. If you have one what are the pros and cons?

I would think from a long term financial standpoint it's better to put that money into a savings account and use it for that purpose if/when you need it but just looking for opinions. I was quite surprised to see what attorneys are charging.

Posted:  3 months, 1 week ago

View Topic:

Orientation !

Congrats and good luck

Posted:  3 months, 2 weeks ago

View Topic:

Moving Forward with Veriha - (pronounced VERY - ha)

Passed physical strength tests and drug screen. Will have a call and email with details Friday. Training with Veriha starts in Marinette, WI on Monday 11/11.

dancing-banana.gifdancing-dog.gifdancing.gifsmile.gif

dancing-banana.gifdancing-banana.gifdancing-banana.gifdancing-dog.gifdancing-dog.gifdancing-dog.gifdancing.gifdancing.gif

Posted:  3 months, 3 weeks ago

View Topic:

Food for thought from an o/o

I dont know which insurance company you went to, but in my 10 years in the trucking insurance field it is my first time to hear such. 90% of the companies require 2 years of experience which is why i advise people to get at least that full year of experience before venturing out. Some companies will do 0 year of experience with a hefty surcharge

Hello, I will possibly be switching insurance companies next year and when I went to get my quote they mentioned that if I hire anybody to drive under my authority, they would need a minimum of (9) nine years of experience for them to cover. Yikes.

Have a nice day folks and be safe out there.

Posted:  3 months, 3 weeks ago

View Topic:

Moving Forward with Veriha - (pronounced VERY - ha)

dancing-banana.gifdancing-banana.gifdancing-dog.gifdancing-dog.gifdancing.gifdancing.gif

Posted:  4 months ago

View Topic:

72 in a 55 Speeding Ticket

Using a mobile device while operating a CMV is an extremely severe violation.... its weight on your safety score is a 10 compare that to the severity of someone going 11-14 miles over the speed limit that that carries a weight of 7. Alot of insurance companies will require that driver to be fired before mighjt agree to insure a smaller carrier.

392.82(a)1 Using a hand-held mobile telephone while operating a CMV 2 0 10

392.2-SLLS3 State/Local Laws - Speeding 11-14 miles per hour over the speed limit. 2 0 7

Posted:  4 months, 1 week ago

View Topic:

Would you work for this company?

I have seen many companies go from 100 trucks to 0 because of their conditional rating. Very hard to insure most times they end up paying between $25k to $35k per power unit that is if you are lucky to have a company that will accept to insure you

Posted:  4 months, 2 weeks ago

View Topic:

Moving Forward with Veriha - (pronounced VERY - ha)

You go Marc, been following your saga and your resilience is Amazing dancing.gifdancing.gifgood-luck.gifgood-luck.gifdancing-dog.gifdancing-dog.gifdancing-banana.gifdancing-banana.gif

Posted:  4 months, 4 weeks ago

View Topic:

Is This List Of Companies That Offer Paid CDL Training Complete?

Email me Brett and i will explain their concept to you

Page 2 of 4

Previous Page
Next Page
Go To Page:    

Join Us!

We have an awesome set of tools that will help you understand the trucking industry and prepare for a great start to your trucking career. Not only that, but everything we offer here at TruckingTruth is 100% free - no strings attached! Sign up now and get instant access to our member's section:
High Road Training Program Logo
  • The High Road Training Program
  • The High Road Article Series
  • The Friendliest Trucker's Forum Ever!
  • Email Updates When New Articles Are Posted

Apply For Paid CDL Training Through TruckingTruth

Did you know you can fill out one quick form here on TruckingTruth and apply to several companies at once for paid CDL training? Seriously! The application only takes one minute. You will speak with recruiters today. There is no obligation whatsoever. Learn more and apply here:

Apply For Paid CDL Training

About Us

TruckingTruth was founded by Brett Aquila (that's me!), a 15 year truck driving veteran, in January 2007. After 15 years on the road I wanted to help people understand the trucking industry and everything that came with the career and lifestyle of an over the road trucker. We'll help you make the right choices and prepare for a great start to your trucking career.

Read More

Becoming A Truck Driver

Becoming A Truck Driver is a dream we've all pondered at some point in our lives. We've all wondered if the adventure and challenges of life on the open road would suit us better than the ordinary day to day lives we've always known. At TruckingTruth we'll help you decide if trucking is right for you and help you get your career off to a great start.

Learn More