Are we fixing to see a huge purge in trucking?

So when Chicagoland companies go out of business then what?

Do all their drivers retire their CDL?
What's more likely is they jump ship to another carrier so thus the amount of available truck drivers doesn't really decrease.
That's why rates still suck.

 

This i do not know what happens with drivers but i do know these companies were paying drivers extreme amounts of money and some still are, but 50% of drivers they have i would never hire them they are destroyers when it comes to the truck and for .01C more a mile they will leave right away. Rates suck because most of these companies that are going out of business are taking anything right now just to have some kind of $$$ coming in and most of them are not paying their bills or some of them are not paying drivers accordingly so they are just stockpiling any money they can before they go out of business. ####ty way to do but a lot of them are doing the same from what i am seeing.

 

Progressive reefer breakdown coverage does not include human error.

 

Most of the online banking companies are at or above 5% for most of the CD products. Find that most of the ones for more than 6 months pay a good rate.

 

If you wanted to really get scared this Halloween all you'd had to do is look at load board rates

 

I decided to lease to a carrier for a couple years, given the way the spot market is behaving at the moment. Still gonna keep my authority on the back burner so I don't have to start from scratch when I decide to start using it, but I can get decent insurance from the carrier I'm signing on with for significantly cheaper, which will be the policy I use in the event I actually have to utilize my insurance while leased to this carrier. So I altered the policy conditions I was getting quoted on so it would only meet the minimum requirements to keep my authority active... only carrying $750k liability returned me to $2200 down and reduced my monthly to $1200/mo, total $13,500/yr. It's actually ####ing insane that 45 days was enough of a difference for basic ##### liability to now cost what getting all the bells and whistles would've cost me. WA policy through Progressive, for those wondering where I'm getting these numbers from.

 

I'm from Chicagoland here. I believe things will change but it's going to take still some time. Mega brokerages won't be hiring more. There isn't enough volume. It is affecting the whole industry, but some suffer way sooner than others.
A lot of people are going out. I see people removing trucks/trailers from the parking lots. I pay $450 per month for a parking spot. People either sell their trucks or move elsewhere, especially ones with multiple units. I used to look for available parking spot and couldn't find it when I opened my operations. Now, there is plenty around.
Before we see shortage here, the mega brokers need to go out. But it won't happen soon enough. Our strategy is to wait it out. But many can't or won't be able to.
The conflict in Palestine will make things worse over here.

 

Great Mega brokers will find a way. They will do things small operators can't.
And they are at the position to negotiate rates with shippers. We really can't. So, we will go out first before we see them fall down.

 

We need many actual truck drivers to give up their cdl and find a new career.

There's simply too many truck drivers.

An owner operator hauling cheap freight until the money runs out then going to be a company driver doesn't help.

Too many drivers out here for the amount of available loads.

 

Remember when spot rates were at all time highs and you were complaining you couldn’t make any money?
here we are now at historic low rates and here you are; still trucking.

If I wasn’t making money: I would quit.
And/or shut the #### up about it.