RESPONSE FROM MY FRIEND IN FLORIDA ,CONCERNING SLOW DOWN IN TRUCKING AND THE FINANCIAL TOLL ITS TAKING ON THE TRUCKERS FAMILIES AND FINANCES
Friday I received a call from a independent flatbed trucker who was being scheduled for Monday to take one of my machines back to the dealer from Florida to Tennessee. He was calling to beg me to get it on Saturday and not wait to Monday cause he has been sitting for over a week and needed a paycheck really bad. After I was able to make some calls and make it happen I called him back to say ok I will help you out. I was able to have a conversation with this good ole boy from the south. He said he has never in his 41 years of trucking seen it this slow. Instead of running 2 times a week he is lucky to be running 2 times a month and its like this all over the country. This is now causing guys to undercut pricing and work for less. Pricing is getting so bad he said its like late 1970's pricing but at todays costs.
Hope all is well for you and your family, God Bless Michael
UPDATE FROM KEN--Steve, I just read the atricle you posted about the trucking slow down, also the alert from your friend. BOTH hit it dead on. I've been in this business over 30 years, and can't remember it being so bad. I've seen several companies go under, almost overnight. I myself, have sold off most of my equipment, keeping only the trucks that are paid for. I even got rid of the trailers. Going to "power only" contracts to minimize even further. If this keeps up much longer, there will be only a few survivors, mostly the older guys who have paid off equipment and still work on their own trucks. Secondly, i got a letter from my factoring bank the otherday, seems they now will have to " pre approve" all loads or they will no longer buy the bills. This tells me that there are alot of shippers not paying on time, and credit is tightening.
Thanks for keeping us informed brother. Reliable information is becoming a very valuable commodity.
Your brother in christ
Aug 14, 2016