More trucking firms need to die, says CTA boss

Not confined to the trucking industry. Residential and commercial real estate development and construction, most facets of retail sales and services. The list goes on of sectors in our economy that have excess capacity.

Money supply is too readily available, though some would argue that credit standards are tighter. My argument would be while a very few banks were absorbed by others for pennies on the dollars as a result of the meltdown, there are still a lot of subscriptions for new banks as well as the expansion of new branches inside those that "survived".

With the discount rate where it's at to "stimulate" as well as the artificial insertion of need through stimulus spending, the market is not truly driving the economy.

 

With too many trucks chasing too few loads it can only be a recipe for less pay and NO quality of life, which is what you get if you get out of trucking anyway. Jo Bernard

 

Like banks that have left unoccupied houses off the foreclosed lists (shadow inventory), some finance companies have let trucking companies just keep trucks instead of repoing them. Why repo a truck with a $70,000 loan balance when the BEST you could get for it is $45-50,000? Rather, hold on for a while and hope things equalize in the future.

 

Trucks don't drive themselves ... this organization needs to be asking themselves what they are doing to hire and keep the best drivers, and start moving away from the government subsidized CDL mill for less than adequate recruits.

 

They dont want the better drivers it will cost them more money than the mill driver would...Not only that a better driver knows whats right and wrong

 

ha,pretty hard to go down when do dont pay drivers nothing more than peanuts.

 

,,, and in other news, hundreds of thousands of Canadian truckers wonder how the Canadian Trucking Alliance finds the funds to have forums in Toronto in this downturned economy.

Said one driver, "I don't get it, I only send them $12 a month, how can they afford to rent a conference room in the Grand Hyatt? That costs like $500 an hour!"