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PROGNOSIS * USA - It’s time to declare “Zombie” truckers dead
“Zombie”: Truck operators who are not making their monthly equipment payments and thus should be bankrupt or shut down
Birmingham,AL,USA -Fleet Owner, by Brian Straight -Sep 14, 2010: -- While the industry struggled through the recession, “zombie” truckers became a detriment to the industry and its recovery. The term refers to truck operators who are not making their monthly equipment payments and thus should be bankrupt or shut down, yet remain in operation because the banks do not want to repossess their equipment when its value is minimal... But the fate of the zombies is beginning to change. John Kaburick, chairman of the Truckload Carriers Assn. (TCA), and president & CEO of Earl Henderson Trucking, delivered that message yesterday... “Banks have now started letting companies go broke,” Kaburick said. “[Zombie truckers] went into the markets and cut rates and that hurt well-managed companies” ... According to Kaburick, 7,600 carriers with six-plus trucks went bankrupt in the first quarter of 2010-- and 250,000 trucks have left the industry in the first two quarters of this year... Kaburick added that he believes fleets may not have to make tough decisions on drivers as insurance providers will be making many of those decisions-- telling fleets they won’t insure particular drivers who are accumulating poor CSA scores... (Photo from thetyee.cachefly.net: Beware of 'Zombie' Truck Loggers)
Labels: trucking industry news USA, trucking markets prognosis
posted by Unknown @ 5:14 PM
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