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ANALYSIS * USA - Trucking Industry in Distress
* The trucking industry today!
NJ,USA -My Trucking Space -28 Dec 2009: -- The consolidation trend in the truck transportation industry has been around for several years, but over the last several it has accelerated rapidly. Of the 50 leading carriers that existed in 1980 — the year trucking was deregulated — only five remain today. For the independent trucking firms in New Jersey and beyond, it's becoming more difficult to compete against the ever-larger conglomerates... While some analysts are predicting a handful of industry bankruptcies this year, and consolidations may continue, a trucking business can avoid becoming a statistic, and indeed grow, by creating partnerships that will help it obtain sales, marketing, technology, and personnel advantages... The time to reinvent transportation is now, and the people most likely to do it are successful, independent entrepreneurs...
* The pressures might force many owner-operators or smaller firms out of the business
New York,NY,USA -The Gouverneur Times, by Mark Byron -7 January 2010: -- The trucking industry had a rough 2009. The recession has cut the amount of goods being shipped and shippers have been more cost-conscious, cutting revenues to trucking firms. The less-than-truckload part of the market has seen added competition from UPS and FedEx’s moves into the LTL market during the late 00's, making it even harder for trucking firms to have much pricing power... At the same time, new diesel engine standards, higher diesel fuel prices and other added costs, have added to the variable costs of operating trucks. The result has been losses for many firms, forcing some out of business and causing others to redo their financial structure in order to reduce their interest payments and keep out of bankruptcy... YRC Worldwide, staved off bankruptcy in late December 2009... Arrow Trucking and Carlen Transportation, went out of business in late December... Arrow was a case study. Drivers were eventually told to take their trucks to the nearest dealer for their tractor, where they would get either $200 or a bus fare home. Some other drivers didn’t have enough fuel to get their trucks to the nearest Freightliner or Navistar dealer and others were left scrambling to get home for Christmas. Schneider Transport, one of the larger trucking firms, offered Arrow truckers a ride towards home as well... The Federal Motor Carrier Safety Administration has ordered Arrow to move the trucks into secure locations and make sure any trucks containing hazardous materials is attended... 2010 is unlikely to see any further major closures, since most of the other large trucking firms, such as Con-Way, Landstar and JB Hunt, are in solid fiscal shape... (AP Photo, by Nati Harnik: A truck bearing the Yellow brand, one of several owned by YRC Worldwide Inc., travels in winter weather east of Omaha, Neb)* Family Of Missing Arrow Trucker Prays For Safe Return
TX,USA -NewsOn6.com -Jan 10, 2010: -- The family of a missing Arrow trucker is praying that their loved one is still alive... John Eischens from Texas has been missing since Christmas day... The 34-year-old was last seen at a truck stop in Butte, Montana, where he cleaned out his truck and turned over his keys to the store manager... Eischens' family says he had no money because Arrow Trucking had given him bad checks... Dozens of Arrow truckers are missing. Support groups for the trucking industry are using the internet to help find those drivers and get them home... (Photo: John Eischens, 34, from Texas has been missing since Christmas day)* Arrow Truck Sales Inc. clarifies: It remains a strong used truck retailer
Kansas City,MO,USA -Land Line Magazine -January 28, 2010: -- During the past month, there has been considerable media attention paid to a trucking company based in Tulsa, OK, with a similar name to Arrow Truck Sales Inc. That company abruptly shut down operations shortly before the end of the year... Arrow Truck Sales Director of Marketing Don Mueller says the company would like to clear-up any confusion on this issue... Mueller said, in fact, Arrow Truck Sales is now entering its 60th year in business. And over the past year, they have opened new retail stores in both Denver and Minneapolis...
Labels: trucking industry analysis USA
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