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If you "All" will read my previous posts, and I believe "Turbo" read the first and responded apropriately that I am an owner opertor with JBHunt, yet have a sub-contract to "Train" company drivers. I do recal stating this clearly that the money is in "Training" for owner ops. You get all miles dispatched on the truck and a "Turnover" bonus if the driver lasts through his/her 90 day probation period.
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I hate to do it again, but you are forcing the issue. YOU have only been with JB Hunt for approximately 90 days to date, per your own post, and therefore would not have had enough time in to reap any of these ""turnover bonuses".
Okay, now you're stating you get all the miles while training, but then your expense, especially for fuel will increase for those miles as well. Your stated net profit figure STILL doesn't compute.
I have been under the impression that JB Hunt no longer trained drivers. They have a 3 month minimum experience level requirement. A driver with a clean record for three verifiable months would not need training with a first seat driver. Looking over their web page, there is no information to suggest that they consider any drivers with less experience than 3 months, or that 3 month drivers are required to drive with a trainer. They list a solid .34 cpm starting wage as a solo driver for those that have at least 3 months behind the wheel.
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Turbo, for you to base your decision on "Outdated Information" is your decision. If you really want to find out the truth for yourself..."At No Expense to you" get your arse off the couch and go to Lowell. There are 63 drivers in this weeks O/O class. There are 115 brand new 2005 Freightliner Century Class/ST's here on the lot specked for O/O. Drivers who have been on O/O with other companies are breaking leases to come onto the JBHunt lease program for 2 reasons. #1 you have a new company you're dealing with where O/O's get priority treatment on everything. #2 you have a total "Buy Out" option with no "Pre-Pay Penalties" on the truck.
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Now you're questioning my intelligence AND my credibility, and I'm sorry, but you don't get off that easy, nor will I now be as polite. The information that was posted was sent via e-mail to me FROM Lowell on the 23rd of December.
You know what? I smell a rat. You're attempting to divert attention from the subject at hand. You are either a management level employee, or a fresh face, and in Lowell to start a new job, and have not yet received the screwing that you are about to get.
It makes absolutely no difference how many trucks they have, or how they are spec'd. The question on the table is whether or not a driver who LEASES one of them will make a fair living for the effort involved, and the ANSWER to that question is....NO.
63 people attending an orienation class is NOTHING to brag about. It's indicative of one thing, and one thing only. They are not keeping their trucks filled. I don't buy for a second that there are drivers breaking their leases elsewhere, and clamoring to jump on board with JB Hunt, because all it took for ME to size up this as a completely unprofitable situation was the perusal of two documents sent freely by the company to my computer. And I hate to point out the obvious, but a "no-penalty, early buyout option" means little to someone that is not making enough to feed his family, and is worried about paying his bills. Purchasing the truck at the end of the lease is the least of his concerns.
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Couple that with probably the 3rd "Largest" contracted load base in the industry and only "You" yourself set the limits on income. I see a lot of "Double Entry" accounting in your figures that you are miscalculating such as "Escrow". There is now "Escrow" on the lease purchase and no "Balloon" Payment.
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Now you're lying, and the question is...Why?. Everything in that post was absolutely as it appeared in the two documents sent to me. It's up there in black and white. I copy and pasted the entire thing from the documents themselves, and if ANYONE would like to see the originals, I'll be happy to forward the e-mail that it came from to them, complete with the documents attached. Contact me privately and you'll have it as soon as I see the request.
You are required to put up a $3600 escrow at $100 a week until it is in place, and the maintenance escrow is taken at .05 cpm and is taken for the ENTIRE duration of the lease.
I was told categorically by a Ms. Griffin, on 12/23/05, that there was a balloon of approximately $10,000 on the end of the program for the LOWEST priced truck that was leased to a driver, and that's all there is to it. The assumption therefore is that the more expensive the truck, the higher the balloon. Why and for what reason would I purposely misrepresent such a thing? Better yet, why are YOU? Your claim is easily controverted.
I've bought more than a few trucks in my working life, and the day that I can sign papers on a new Century Classic of ANY description, with ZERO down, and pay $1545 a month for 36 months and own it free and clear, I'll buy a hundred of them, and PERSONALLY come to Lowell, Arkansas and lease them on with JB Hunt. You're about 30 grand short, and that's for the price of the truck itself. Nobody, not even JB Hunt, buys them with that kind of a discount, and there's no way you are going to convince me that JB is losing one cent on the price of a truck that they lease out, and they just magically hand it over to a driver thirty grand short of what it cost them.
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I have my lease in hand and have gone over it 3 times prior to responding to you. It's not a clause in the contract "Anywhere". At the end of the contracted term of your lease, the truck is your's free and clear.
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I have every reason to suspect that you haven't had any contract in your hands, and I'll tell you why I state this;
Tangible goods that are sold or transferred by a business, per the IRS, must have a value assessed to them at the time they are sold and/or tranferred to another party, even if the value of the property is considered to be zero and fully depreciated. In a contract that outlines a lease/purchase option with no balloon at the end of the term, the value is routinely set at one dollar as the sales price, in order to meet the IRS requirements.
Wait just a frigging minute. You stated on January the 1st, that you were in the short term lease program. That arrangement doesn't COME with ownership. Your story is REALLY falling apart now, my friend.
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"However, I can tell you that I am on a 6 month lease, in a 2005 Century Class/ST and my payments are $1545 a month. I Gross $13,250 on average and "Net" roughly $9,000.00 after all operating expenses." Quote:
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But once again...You are the best to make "Your Own" judgements and I have yet to knock you down on that and never will. I was skeptical coming into JBHunt in 2005. A lot has changed in our favor. My only advice to you is when "Oportunity Knocks" at least "OPEN THE DOOR" rather than "LISTENING" to the garbled noise outside of the "Unknown".
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I find the use of the word "our" interesting. Not many drivers identify with a company in that manner, and with you claiming to have only been there for only 90 days or thereabouts, I understand it even less. You claim to have only been a driver for 9 months, so HOW could you possibly have any understanding of what kind of reputation that company has earned and/or has attempted to improve?
How many people HAVE "opened the door", and are now weathering a negative DAC/USIS report, or are now having credit problems, or worse, are looking for a new place to live because they have lost it all?
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I'm not a lawyer but can say this on experience. If I listened to all the "Hearsay" dished out in my 40 year life span, I'd be one hell of a mixed up individual. I'm not one to rely "Solely" on ones opinion. I'm one to see for myself, test the water, dive in and if it's a shallow pool, chalk it off as a "Lesson" to help me survive the deep end dive next time.
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You're right. You're definitely not a lawyer, and you are also NOT anything else you claim to be, and that's okay with me. I like it when people attempt to discredit me, because it really makes my day when people are careless enough to show uninformed people what the drivers of this industry are dealing with. You're may be associated with JB Hunt in some way, but not as a driver, or at least...not yet.
So, you're one that that has to see things for yourself, and learn lessons the hard way....That's quite an admirable trait, if you desire to be considered foolish. Me? I'd rather wait to dive in, until I know where the deep end is at, and long BEFORE I take that plunge. I've taken stupid chances in my younger days, and I've had to live with the results of taking those chances.
I strive each day to help people make better an informed decisions to hopefully raise the awareness and the standards of this industry from a driver's perspective. What you have tried to do in this thread, by taking me on, failed miserably and I thank you for the opportunity to confirm that what I am doing makes people nervous. The truth sometimes hurts, doesn't it?
If you're going to try and sell some swamp land in Arizona, the least you could do is brush up on your sales skills. I'll give you credit for one thing though. You had me fooled for a couple of posts, and that's not easily done. Shall I step aside and let you wet the grass a little more?