Is PAM Next?

Lot of these small to mid sized carriers got bought up by private equity and/or took out alarming amounts of debt. Combine that with higher fuel costs, inflated truck prices, unreliable trucks and H1Bs/illegal drivers and shadow carriers/brokers driving rates through the floor and insurance through the roof.....

And yea thats why your seeing so many folding up. Guys with little/no debt will be fine. Guys with lots of debt. Less so

 

Well said.

 

Who isn't feeling the pinch? Every company just about is experiencing losses each quarter.

 

My company sure isn’t..we so busy we can’t even keep up.. they’re turning down thousands of loads because we don’t have the capacity right now…miles are very good here right now.

 

Awesome!

 

From the freight dive article -

• PAMT’s truckload operating ratio was 146.2%, up from 137.5% a year ago as total miles and total loads each saw year over year declines.
  - Yeah - Don’t think that’s sustainable much longer, losing 46c for every $1 made.

 

Probably ran up debt as mentioned. Paid the board nicely. Not to worry, they’ll just move the freight to another company they have interest in. Same people, different company.