Swift stock is crashing, blames it on them losing drivers and driver shortage

Discussion in 'Swift' started by freightwipper, Aug 3, 2014.

  1. Derailed

    Derailed Road Train Member

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  3. JohnBoy

    JohnBoy Road Train Member

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    Victor, I always look forward to your writings on a lot of subject matter. I don't always agree with some of the things you have to say, but hey, that's what makes this such a great country, we can agree to disagree, but getting back to what you said about the debt load they are carrying, based on my calculations, each one of those trucks is carrying $55,555 worth of debt, seems to me their rate cutting, poor driver wages, shoddy equipment has become somewhat of a burden, enough so that if their credit rating given to them by the banks is lowered, it will be a matter of when, not if.
     
  4. pattyj

    pattyj Road Train Member

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    That's funny.If Swift is plunging there has to be more companies as well.Of course boosting the drivers pay is nice but I don't know if that's the only reason why they don't have the drivers.Alot of companies can't find the drivers that pay real well because insurance companies won't accept the drivers.I think a lot has to do with all the laws in place.
     
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  5. JohnBoy

    JohnBoy Road Train Member

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    Patty, somewhat correct. I have seen some applications come into our recruiting department, if mine looked half as bad I wouldn't waste my time sending my app in. There really aren't a lot of experienced drivers left. There are a lot of drivers like myself, leaving the industry altogether for whatever reason, mine happens to be for retirement in 2 years.
     
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  6. FLATBED

    FLATBED Road Train Member

    Last edited: Aug 3, 2014
    pattyj, Cody1984, dog-c and 1 other person Thank this.
  7. pattyj

    pattyj Road Train Member

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    Swift is one of thousands of carriers that have more empty trks then drivers because their insurance companies are denying the drivers.I have never seen so many companies local and OTR looking for drivers as I do now.
     
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  8. JohnBoy

    JohnBoy Road Train Member

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    I agree. I have my reasons, but no one will listen to me. Try this simple tactic, instead of enticing someone with a sign on bonus, try it with a retention bonus, instead of castrating your trucks to 10mph under the posted speed limit, grow balls and raise your freight rates. My company isn't perfect, but I'll tell you this, we have some of the best paying freight I have ever seen, couple that with never laying over, and the fact that I average in my two week pay period about 3500 miles per week, this is a pretty good deal. Yes, we too have a driver shortage issue, one reason for if is our hiring standards. Something must be done right here, every week they have 2-5 new drivers come out of orientation and no trucks to put them in.
     
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  9. 201

    201 Road Train Member

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    Right on, patty, I believe this is the tip of the iceberg, and we ain't seen nothing yet.:yes2557:
     
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  10. pattyj

    pattyj Road Train Member

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    I hear that.I do see companies not being so strict on their own policies like they once was because they can't find the drivers due to not an adequate MVR and csa score.More and more companies are bending the rules how they hire because right now they are at the drivers mercy and I personally love it.
     
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  11. pattyj

    pattyj Road Train Member

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    Swift started seeing a downturn in 2010 isn't that about when all the laws were fully implemented and drivers getting fines,violations ect ect?It's only going to get worse.Swift receives a lot of applications every week but most get denied.Companies are having orientation 2 or 3 times a week but still doesn't get the amount of drivers they need,not even close.I can't get over how many empty trks I see sitting in yards.Was never like that a few yrs ago.[QUOTE="semi" retired;4167777]Right on, patty, I believe this is the tip of the iceberg, and we ain't seen nothing yet.:yes2557:[/QUOTE]
     
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