Another Trucking Company Closes.

Topic 26562 | Page 2

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Rick C.'s Comment
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From a lot of company owners , the trade fight that Trump has been having with China has been hurting them big time

To the extent that it's cheaper to buy your imports domestically than to import them, that could be true, because on average more origins will be inland than from ports, i.e. shorter runs.

Rick C.'s Comment
member avatar

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From a lot of company owners , the trade fight that Trump has been having with China has been hurting them big time

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Because most of the new start ups only saw the pot of gold and did not correctly plan for the hard times when rates dropped to near normal levels. Lack of planning leads to poor results. In their case too much money going out and not enough coming in. Simple economics.Rates now are what they were 24 months ago, so it has little to do with Thr President. Nice try, though.

Biggest problem right now: rates lower than 2018 and out of control insurance rates, helped by tort lawyers.

End of rant.

Imho... It could mainly be about those tariffs. Consumption falls when prices rise (and income is held constant). So it makes sense that freight bookings decline because sales are declining because prices are rising because tariffs are a tax added to prices. And rates will fall, too, as carriers compete for a shrinking number of loads.

That said, those startups may simply not be diversified enough to weather a downturn, so you're right about them perhaps not planning well.

HOS:

Hours Of Service

HOS refers to the logbook hours of service regulations.
Michael W.'s Comment
member avatar

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From a lot of company owners , the trade fight that Trump has been having with China has been hurting them big time

double-quotes-end.png

double-quotes-end.png

Because most of the new start ups only saw the pot of gold and did not correctly plan for the hard times when rates dropped to near normal levels. Lack of planning leads to poor results. In their case too much money going out and not enough coming in. Simple economics.Rates now are what they were 24 months ago, so it has little to do with Thr President. Nice try, though.

Biggest problem right now: rates lower than 2018 and out of control insurance rates, helped by tort lawyers.

End of rant.

double-quotes-end.png

Imho... It could mainly be about those tariffs. Consumption falls when prices rise (and income is held constant). So it makes sense that freight bookings decline because sales are declining because prices are rising because tariffs are a tax added to prices. And rates will fall, too, as carriers compete for a shrinking number of loads.

That said, those startups may simply not be diversified enough to weather a downturn, so you're right about them perhaps not planning well.

I don't see this trade fight hurting trucking as is stated above. I'm seeing what always happens in a good economy, everyone jumps into trucking and or expands. We are now reaping the consequences. I've been out here thirty years... And I am an independent with my own authority.

I have run into so many guys out here that have no business in this racket over the past two years it is not even funny. And sadly, many do not even speak English, and that is a very real issue. I would say immigration and our visa program are more of an issue than any tariffs in regards to rates.

And I am not trying to start anything, don't throw this racist crap at me, I am just stating facts and my own personal observations, along with many private conversations with more than a few brokers. Another thing I have seen first hand that really disturbs me, are these outfits that are ran from overseas. The entire back office staff is located in Europe, other than one safety person in the office, and the recruiter. The drivers are all paid via 1099, the dispatch is overseas, the owner is overseas, payroll is overseas. Bottom line, these outfits have no skin in the game, they can afford to haul that freight for .70 a mile when needed without batting an eye. You would be amazed at how many outfits just like the above are operating out here, and they are into everything, vans, flats, reefer , etc. How do I or any of you compete with that? I can't.

Reefer:

A refrigerated trailer.

HOS:

Hours Of Service

HOS refers to the logbook hours of service regulations.
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