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RECORD: TRUCKS PULLED OFF ROADS * USA - Capacity Crunch Hits
Washington,DC,USA -Traffic World, by John Gallagher -31 Oct 2008: -- A new annual record has already been set in the first three quarters of 2008 for the amount of truck capacity pulled off the road in what has become the worst year in history to be a trucking company with too much debt... The latest bankruptcy report by investment bank Avondale Partners shows 785 trucking company failures in the third quarter, bringing the total number of companies shutting down in 2008 to 2,690. The rate of failures is almost 50 percent higher than last year's third quarter. The number of individual trucks exiting the market due to bankruptcies so far in 2008 now tops 127,000, or 6.5 percent of the nation's capacity... Avondale Partners managing director Donald Broughton said the abrupt decline in fuel prices during the third quarter helped save companies that were on the brink of bankruptcy, as fuel surcharges were collected at a higher rate than fuel expenses were running. "This suggests to us that the drop-off in the third quarter will prove to be only a lull in the storm and is not a sign that the worst is over."
Labels: trucks off the roads
posted by Unknown @ 6:42 AM
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