Truck Load Rates Halt 8 Week Slide 2.0

My understanding of Fuel Surcharge was that it was a part of a contract between a shipper or broker and a carrier. A formula protecting the carrier from fuel price increases over the period of the contract: e.g. for every fuel price bracket, the shipper subsidizes the carrier by a agreed amount to the gallon of fuel purchased. I don't think that the government regulates it or has anything to do with it.
I also don't quite understand why they say they will make more money. Perhaps, the formula is formulated in such a way that the surcharge generously exceeds the increased cost due to a higher diesel price. Or it could also be illusionary.

 

In March I had to cough out over 7 grand of property taxes to the Cook County right at the time of the lock downs and freight drying up quickly. My rental condo was vacant and too risky to put it back on the market due to eviction moratorium yet all the association fees and costs it involved had to be paid. I tried to run, do best I could at the time, never stopped really.
Some people here were criticizing me for it too.
Then I saw masses with their hands extended for those hand outs (PPP) and thought if they're all are victims of pandemic and I was running at nearly a loss and required to still pay all the taxes and fees then I sure should be eligible for protecting my payroll too. I struggled with the thought a little but at the last moment I took PPP, about 6 grand. I also took the EIDL but that is a real loan to be paid back. I utilize it per SBA requirements. The payment installments will be due in a few months. Then the rates improved unexpectedly but the future is still hard to predict. When the pandemic situation is over and things considered normal, and I see confidence in the freight market, I'll pay it back at an accelerated rate or even as a lump sum.

I do appreciate your contributions in the other thread about how to apply for it...notably Pay Pal which helped me to facilitate the process.
I also took mental notes of your ... let's call it moral aspects of it in the same other thread, which also helped me to clear my own mind from any qualms against taking it.

 

BTW. IOWA was under The Mother Nature assualt yesterday. I've never seen so many wrecks on such a short stretch of I-80 Omaha, Ne - De Soto, IA ( the super coop) as last night and I've been at this nearly 20 years. It all looked like a aftermath of a tank battle.

 

Nothing to be sorry for, and I wouldn’t let a couple of haters decide what you post. By doing that you let them win.

If it’s any consolation, I applied for and received the first round of PPP, and will do so for the second round as well. And I’ll still sleep like a baby, maybe more so knowing how much it upsets a few on here.

 

Looks like more and more what I said a couple days ago about opening up the country post Jan 20 will be true. You know, now that the economy is ruined then let’s save the day. “Build back better” right? :rollseyes:

 

Kind of off subject, but we had an interesting day around here yesterday. My son was furloughed from his job a couple months ago so he's staying with us until things turn around. Yesterday he went out to hop in his car and do some things, and his car was gone. Yep, stolen from right in front of our house. Called police and filled out a report. Three hours later, received a call that they had his car pulled over 15 miles away and wanted us to drive up to confirm it was the right car. It was, and they arrested the driver. He was a tweaker, and the car was full of stolen merchandise like clothing tools, cells phones, just all kinds of random stuff. It was a 97 Mercedes and the guy had some kind of master key that worked in the door and ignition. I always thought Mercedes were fairly theft proof, but I guess not. Anyway, a happy ending after a strange day. Being this is California, the thief will more than likely be released soon for humanitarian reasons.