Another trucking bankruptcy

[fxstc07]

Re: Another trucking bankruptcy

Still waiting on trucking companies going out of business because of Trump,your reasoning with facts or links as this sight only allows as proof.
Lets stick with the trucking bankrupty thread.

Certainly ! I'll be glad to provide proof, as requested.
I would trust that you know about the Cato Institute ?
Here is a good story from them.

Remember ... everything, every company on the list uses trucks. Either for supply purposes, delivery of product, fuel to operate and food to sustain. Higher costs, are passed on to the end user ... us. The Trump Tax, as they call it.

Here Are 202 Companies Hurt by Trump’s Tariffs

The debate over tariffs has mostly emphasized their impact on economic growth and jobs, which overlooks specific stories of suffering caused by President Donald Trump's trade war. Below are more than 200 examples of the damage done by Trump's tariffs, aggregated with Republicans Fighting Tariffs. The victims and their stories differ, but the catalyst is the same.
Businesses of all sizes have seen their input costs rise because of tariffs. To maintain already slim profit margins, many of these businesses have no choice but to raise prices. Call this the "Trump tax."
But not all businesses can offset tariff costs through price increases, because their customers are price sensitive and will simply take their business to a foreign competitor. These companies have been forced to take cost-cutting measures such as laying off employees or forgoing expansion.
Then there are the countless farmers and exporters who have seen their markets dry up as trading partners impose retaliatory tariffs.

https://www.cato.org/publications/co...trumps-tariffs

[1484-1075]

Re: Another trucking bankruptcy

Old news,September 2018.Those companies hurt by trumps tariffs as i am sure there are plenty more, has nothing to do with this thread"trucking Bankruptcy".The strong will survive in business as they have always done,the weak will dissolve no matter who is in charge, just as its always been.

[fxstc07]

Re: Another trucking bankruptcy

Old news,September 2018.Those companies hurt by trumps tariffs as i am sure there are plenty more, has nothing to do with this thread"trucking Bankruptcy".The strong will survive in business as they have always done,the weak will dissolve no matter who is in charge, just as its always been.

You asked and I provided proof. Never enough proof for the brown shirt followers of the orange goober.
You are also the one to ask for proof in post #11, that is why I took the courtesy to reply.
However, since this thread is about "Another Trucking Bankruptcy", we will keep it to those replies only.

You are welcome to start a thread concerning the economy, or any other items you wish to address.

[222lifer]

Re: Another trucking bankruptcy

You asked and I provided proof. Never enough proof for the brown shirt followers of the orange goober.
You are also the one to ask for proof in post #11, that is why I took the courtesy to reply.
However, since this thread is about "Another Trucking Bankruptcy", we will keep it to those replies only.

You are welcome to start a thread concerning the economy, or any other items you wish to address.

It's plain to see what is causing these bankruptcies. Bankruptcy doubled from one year to the next in trucking. The heartland is suffering with bankruptcies piling high as well. The catalyst is the tariffs.

I do fear for my employer. How long can we sustain this volatile market? It was creepy slow earlier than the normal slow down period. Looking at the weather nationwide as a possible answer wasn't justified. Not on this scale.

We are all feeling it where it matters most. Our wallets.



Sent from my SM-J327T using Tapatalk

[ABFwife]

Re: Another trucking bankruptcy

It's plain to see what is causing these bankruptcies. Bankruptcy doubled from one year to the next in trucking. The heartland is suffering with bankruptcies piling high as well. The catalyst is the tariffs.

I do fear for my employer. How long can we sustain this volatile market? It was creepy slow earlier than the normal slow down period. Looking at the weather nationwide as a possible answer wasn't justified. Not on this scale.

We are all feeling it where it matters most. Our wallets.



Sent from my SM-J327T using Tapatalk

YES we are!!!!! All year long!

[222lifer]

Re: Another trucking bankruptcy

YES we are!!!!! All year long!

Something I found interesting at our barn is a notice of "voluntary layoff" was hung by the time clock. In years past, we had a few that would go to the TM and ask if it was available this year. With the market the way it is today and all the uncertainty, I doubt there will be any takers this year. The dock work available is the indicator. An employee that should have no worry about a "soft" layoff is now questioning whether or not to look for work elsewhere. Not a great feeling over the holiday's. The question "Are we the next?" is something I wish never would cross my brother's and sister's minds.

[fxstc07]

Re: Another trucking bankruptcy

And another one bites the dust. I hope these drivers can first, get home, then find suitable employment.
At Christmas time no less, it can't be any worse for these employees.

Sudden closure of G.D.S. Express a harsh example: Small fleet drivers get stranded too

With Christmas just days away, Akron, Ohio-based carrier G.D.S. Express closed abruptly Tuesday, Dec. 17. The fleet shut off fuel cards for drivers still on the road Wednesday, Dec. 18, and office staff and drivers were reportedly not paid this week, according to truckers and others familiar with the company’s closure.

“We were blindsided,” said Jacob Keaton, eastern operations manager at G.D.S, which runs 75 trucks, according to FMCSA data. “We’ve heard no rational explanation in the last 48 hours.” He said he and his in-office colleagues learned of the closing Tuesday afternoon from company owner Craig Stacy. However, Keaton said they received no clear explanation as to why the company was being shut down.

Despite the closing and not being paid, Keaton and other office staffers were on the job this morning. He said he was working at getting those drivers still on the road refueled and home. He said he was also working at helping drivers find new jobs.
“Taking care of our drivers and our customers is what matters,” he said.
As of 10:30 a.m. Thursday, Keaton said he still had 12 drivers he was trying to get home.

https://www.truckersnews.com/sudden-...-stranded-too/

[x475]

Stranded? not me!

All the articles about trucking bankruptcy , seem to mention the stranded drivers.
I think the drivers bear responsibility too, for
allowing themselves to be put in a "stranded" predicament.

First , if the company closes , and you have enough fuel to get home....go home.
Park the truck at the home terminal , take pictures of it , get someone to sign off
on it , or at least a witness that you returned it.

Second , carry enough stash or credit cards for any emergency , including closure.
Buy enough fuel to get home , or a bus or plane ticket home. Yes, its money out of
your pocket , but hey , guess what...you are home.

All right , you can beat up on me now for being such a cold-heated b*stard.

[222lifer]

Re: Stranded? not me!

All the articles about trucking bankruptcy , seem to mention the stranded drivers.
I think the drivers bear responsibility too, for
allowing themselves to be put in a "stranded" predicament.

First , if the company closes , and you have enough fuel to get home....go home.
Park the truck at the home terminal , take pictures of it , get someone to sign off
on it , or at least a witness that you returned it.

Second , carry enough stash or credit cards for any emergency , including closure.
Buy enough fuel to get home , or a bus or plane ticket home. Yes, its money out of
your pocket , but hey , guess what...you are home.

All right , you can beat up on me now for being such a cold-heated b*stard.

Nothing cold hearted about it. But I have to wonder how many drivers work paycheck to paycheck?

Sent from my SM-J327T using Tapatalk

[fxstc07]

Re: Stranded? not me!

All the articles about trucking bankruptcy , seem to mention the stranded drivers.
I think the drivers bear responsibility too, for
allowing themselves to be put in a "stranded" predicament.

First , if the company closes , and you have enough fuel to get home....go home.
Park the truck at the home terminal , take pictures of it , get someone to sign off
on it , or at least a witness that you returned it.

Second , carry enough stash or credit cards for any emergency , including closure.
Buy enough fuel to get home , or a bus or plane ticket home. Yes, its money out of
your pocket , but hey , guess what...you are home.

All right , you can beat up on me now for being such a cold-heated b*stard.

Not really. It's what most with common sense would do.
However, lifer has a valid point in today's world. Most have lousy credit, or no credit cards and do live paycheck to paycheck.

Nothing cold hearted about it. But I have to wonder how many drivers work paycheck to paycheck?

Most would be my guess.

[x475]

Re: Another trucking bankruptcy

I've derailed this thread , so lets get back to trucking bankruptcy. I'll start a thread about
self-reliance and personal responsibility.

[222lifer]

Re: Another trucking bankruptcy

I've derailed this thread , so lets get back to trucking bankruptcy. I'll start a thread about
self-reliance and personal responsibility.

It would be a great topic.

[fxstc07]

Re: Another trucking bankruptcy

Another company ceased operation effective Dec. 31, 2019. It appears they knew in advance and have attempted to get loads covered and drivers home.

Texas Carrier With 260 Drivers and Owner Operators Shuts Down

A year defined by a devastating number of trucking company closures will end with Fleetwood Transportation Services shutting down on New Year’s Eve after more than 60 years in business.
Rumblings of the Texas-based trucking company’s imminent demise began earlier this month.
Transportation Nation Network (TNN) reached out to executives within the company, but they declined to speak with us.
However, TNN obtained a letter sent by Peter Lynch, Chairman of the Board of Directors of the Fleetwood Companies, to its contractors and owner operators dated December 17, 2019, notifying of the company’s closure.

A Fleetwood insider with direct knowledge of the company’s struggles, who spoke with TNN on the condition of anonymity, confirmed, “Insurance was a major part of it.”
Fleetwood’s insurance carrier of 20 years increased premiums by 40% last year, and then dropped the company completely in November after a fatality accident, the insider explained.
“Fleetwood had a bad fatality accident early this year in Center, TX with a driver that was under the influence that killed a woman and disabled her teenage son,” the source told TNN.
Further, the insider indicated the company only received one other quote from an insurance carrier but it was four times the current premium.

According to data from the Federal Motor Carrier Safety Administration (FMCSA), Fleetwood operates 102 power units with 102 drivers.
The Fleetwood insider tells TNN the carrier also had 160 owner operators at the time of the company’s closing.

In the past 24 months Fleetwood reported two fatal accidents.

The company’s vehicle inspection out-of-service rate also checked in at 26.6% which is above the national average of 20.72%.

Seems to me that better drivers might have saved this company. That and reasonable insurance rates. Something we all need, no matter your location.

https://transportationnation.com/bre...rs-shuts-down/

[fxstc07]

Re: Another trucking bankruptcy

Another Texas carrier is closed, once again due to excessive insurance coverage cited as the reason.

Texas-based flatbed carrier with 260 trucks shuts down, citing insurance costs

Texas-based flatbed and oilfield truckload carrier Fleetwood Transportation hauled its last loads on Tuesday after deciding to shutter operations, citing insurance costs.
SaferWatch reports that the carrier had 252 trucks, 673 trailers and employed 240 drivers. The fleet, based in Diboll, Texas (100 mile north of Houston), primarily hauled building materials and oilfield equipment. The company had been operating for 63 years, having commenced operations in 1956.
The Lufkin Daily News first reported the news on Dec. 17, having received an email tip that the carrier planned to shutter. On the same day, the chairman of the board sent a letter to owner-operators of the carrier, citing the inability of the fleet to secure insurance as the primary reason for deciding to cease operations.
Carriers that have had questionable safety records are struggling to find insurance. Chad Eichelberger, founder of Reliance Partners, a leading provider of insurance services to the trucking industry, said carriers could see insurance rates double or triple in 2020 if they had any accidents with fatalities in the past year.

A number of large fleets that were involved in hauling fracking sand and oil field work have shuttered or downsized in 2019, including Stevens Tanker Division, Halliburton (NYSE: HAL) and Schlumberger (NYSE: SLB).

The company was also a party to a class action lawsuit filed against the company in Lake Charles, Louisiana, because the company allegedly failed to pay overtime to drivers. The lawsuit claims that intrastate truck drivers were hired on a per-job or per-hour basis to haul wood chips from a lumber mill to a paper mill. The company did not pay overtime for drivers involved in the runs, even when their work exceeded a 40-hour work week. Class actions are extremely expensive to defend, even if the company ultimately prevails.

Regardless of the reason for Fleetwood’s decision to close the doors — whether insurance costs, the market or litigation related to the class action labor lawsuit — this case demonstrates the perilous position most trucking fleets have been in throughout 2019.

https://www.freightwaves.com/news/te...nsurance-costs

[fxstc07]

Re: Another trucking bankruptcy

Another carrier closes due to a loss of a contract with DHL. I am thinking this is a cartage carrier, hauling anything to make a buck.

Loss of DHL contract leads to New York carrier shutting down

New York Express and Logistics will shut down after losing a contract with DHL, the company said in a filing in New York state.
The company completed a Worker Adjustment and Retraining Notification (WARN) Act filing in New York, citing the loss of a contract with DHL as the reason for the shutdown of New York Express and Logistics in Latham, New York. In all, 48 employees will be affected as of March 31, 2020. The filing, entered into the New York WARN database Dec. 30, 2019, says locations in East Syracuse, Rochester and Depew, New York, will all be affected.
It is unclear from the WARN filing what services New York Express and Logistics provided DHL, and the company does not appear to have an active website.

https://www.freightwaves.com/news/lo...-shutting-down