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

I also started at $0.25 for base rate last year, but my paychecks averaged $480 take home during that time. Dispatching efficiency has improved fairly dramatically this year over last year, with loads stacked on me the majority of the time. My miles per week last year averaged 2500, this year when I'm running solo it's 2950. It's rare to sit without a dispatch now.

I'm curious why you are still paying off your school loan? Did you quit Swift? If so then yes, you would be put on a payment program. Had you stayed with Swift for a year the loan would have been paid off. Had you stayed for two years Swift would have paid you back and school would have been free.

The company wide pay raise is already in effect. While it's still not putting Swift in the highest paid category it does make Swift more competitive, especially for new hires.

Swift certainly does have incentive to improve as an employer, which you would know had you paid attention to their announcement a couple weeks ago that they were going to raise the pay scale precisely because they had trouble filling trucks. Because of that they had equipment sitting idle that had to be sold off.

When I joined Swift last year I was expecting to be surrounded by newbies, based on TTR commentary. I was pleasantly surprised to meet a fairly large percentage of drivers that have been with the company for 5, 10, or 15+ years. Some stayed as company drivers, others went lease/purchase (with some continuing L/P and others now completely owning their truck or fleet).

If I had to take a wild (behind) guess, I'd say that at any one time about 20-25% of Swift drivers have less than one year experience. The high turnover rate is because so many drivers quit within weeks or months of completing training. I'd say most of the reason for that high rate of quitting was due to low pay and newbie's being disillusioned with the shock of being OTR. Trainers that shouldn't be training has also been another problem area, but that's something that's being addressed. The training program is changing and orientation for trainers is also changing.

 

I recently read a story where a trainee was asked to become a trainer right out of school,himself...

 

Are you talking about another company? Swift requires 9 months from the date you go solo before you are eligible. There is a program whereby a person can train one trainee right after finishing training, for example if a husband wants to train his wife and then they become a team. Other than that you wait 9 months.

 

I was told that they were going increase the amenities in there tractors like direct TV, and satellite radio and raise there truck speeds to 68 mph. I'm wondering if there doing this to attract more drivers.

 

Likely also trying to retain those already working there

 

I'm kind of doubting that. But I did see something recently about our overspeeds being reported in a different way, to the driver's favor. 68 mph would be a nice change for us company drivers but I doubt it's likely, if for no other reason than insurance premiums rising due to an increased governed speed. Getting a satellite radio discount would be nice.

 

They changed the interval for the overspeed from 1 minute to 5 minutes.
The governed speed is still 62 and the overspeed threshold is still 4 mph over that, at 66.
But you can maintain 66 for up to 5 minutes before it will be reported, whereas before it would be reported after 1 minute.

Personally, I think Swift was stupid to make such a change.

 

Most certainly not true.

 

They did the same with O/O and I agree its a bad idea and probably a lethal bad idea. The only way to exceed governed speed is downhill with a heavy enough load. It cannot be done on the flat without the load pushing. The danger lies in the FACT that without any throttle response the truck is essentially no longer under the driver's control. Pop a steer tire going downhill heavy and bad things happen really quick with the tractor going thataway and the trailer taking over the steering. The only hope of recovery is to accelerate and drive the tractor back in front of the trailer. If the speed is higher than the governor speed the only hope is maybe praying.

I spoke with the VP of owner ops yesterday and played phone tag with Victor M and Ken Runls (how is his last name spelled? ) and will be able to reach both on Monday since I'll be shut down for a 34. I believe this policy will kill drivers and will take it to Mr. Stocking if I have to.

 

Pffft, no one is going to die. If you blow a steer tire, by your logic, the trailer is pushing the tractor. Solution, use the trolly valve to brake so the trailer is PULLING instead of pushing. In fact, being at governed speed every day, you're in danger there already on flat ground.

Drivers blow steer tires every day. Once the tire blows, the initial 1-3 seconds the truck will try to change course, but hold the wheel, slow down safely and get off the road. It's just drama to me, IMO.