I am now on my second truck running dedicated with England and still take home around 1200 a week, so all in all I am not getting the I dont make money with England. Is it just hit and miss maybe?
C.R. England and Sons, Inc. - West Valley, Ut.
Discussion in 'Report A BAD Trucking Company Here' started by toorollingstoned, Sep 27, 2005.
Page 40 of 114
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That describes it about right. -
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as a former cre guy, i can tell you that there are many happy cre drivers, what are they happy about?
they make about $500-$800 per week, and they are happy, most are company drivers and have been at cre for a long time, some are new company drivers and basically, cre controls everything about the load, including where you fuel, so as long as you are a conformist, cre is the place for you
if you want to lease, and you want control and you want to make more money, the rules change drastically -
There's only one rule at England when it comes to the lease--drivers get fleeced in the Fleece Operator scam.
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Lease Program
Proposed by CR ENGLAND
As proposed and presented in the example of independant contactor revenues and expenses for a solo driver. Projection do not include quarterly Income Taxes or health benefit.
Projection based on 158,000 miles ran in a 1 year period.
1 Take 150,800 miles per year or 2900 miles per week for 52 weeks.
To maintain the validity of these numbers the driver contractor must understand that there are no vacation time.
2 Lets assume the driver takes 1 day off every 11 days, this means the driver must travel 158,000 miles within 332 days at a rate of 454.21 miles per day.
3 In order to run 454.21 miles a day the driver must maintain an average moving speed of 45 miles per hour for 10.09 hrs daily. (One must account these variables, highway miles travel at 70 miles per hour, traffic time, bridges, tole, weather conditions, detention downtime. breakdown, loading and unloading, and god forbid emergency stops to go to the bathroom.) I think that this conclusion is more than reasonable.
4 The example given shows 2900 miles paid at .90per miles for a total of 2625.00. According to my calculation the total would be 2610.00, small discrepency of 15.00 a week or 780.00 a year.
5 Pick up drops and detention pay are scrutinized by most companies and the driver usually gets the low end of the bargain.
6 Fuel 6.1 mpg with fuel cap of 1.25 per gallon, 2900 miles under this equasion is 594.00.
(My understanding is that traffic time, Idling, running air conditionning, and milage to get to the destination may be scrutinized by the company and may affect these numbers. If the vehicule drops to 5.6 mpg and I beleive it is fair to say, the weekly expense would then be 647.32 per week .
A difference of 53.32 or 2772.70 per year.
7 General reserve, a .07 cents per miles for a total of 203.00 cap at 10,000. This is a reserve managed by the cie for maintenance of the vehicule, breakdown of items not under warrenty, tires and other issues the vehicule may encounter. It would be unwise to assume that the contributor would get a refund for unused maintenace reserve at the end of the lease .It would be wiser to expect and hope that no invoice or bills come from not rendering the vehicule in perfect condition.
8 Variable milage payment is 14cents per milesx2900miles=406.00 .This amount must be added to the contactor initial truck payment of 459.00 weekly for a total of 865.00 weekly payments,3748 monthly,or 44980 yearly.
Lets assume the vehicule is use and is worth 90,000 and has 250,000miles. If the vehicule was finance to purchase over 60 MONTHS@44% INTEREST Payments would be 3729.88
insurance which was a minimum of $138.06 a week with a note at the bottom,
*Rates subject to change*
Totalling an additional $552.24 every 4 weeks
CONCLUSION
As of last year we have heard more and more about predatory financing, mostly in real estate.
Many were sold loans on house they couldnt afford, with creative option arm program and no down financing, interest only loans.
It has become evident as of lately that many will need to foreclose and find themselves owing more that what they are worth.
The trucking industry seems do be going into the same direction. There is no way to sugar coat the numbers of such a lease, more than I have just did, and even then the bottom line is negative.
maybe i am not getting something
It just doesnt add up.
any comments will be appreciated -
It all adds up to "stay the hell away from C.R. England's Fleece Operator scam".
Quit thinking an outfit such as C.R. England is your buddy. That'll get your mind right. Yes, they really are evil at these places and will steal you blind. If, that is, you're dumb enough to walk into their spider webs.
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