Landstar Questions

They don't do 67% of 98% any more. I rehired in march 08, I get a flat rate of 65% of 100%. Do the math, They gave themselves a payraise......

 

looks like u still get the same or less?

 

Right, but i'm still at 67 with 8 for the trailer = 73% of 98%.

New hires and re-hires get the 65 of 100%.

The 2% was a surcharge for cargo insurance i think.

 

They told me that that 2% went to the companys annual driver appreciation barbeque(I have no idea on how to spell that) I did the math, and they really must throw one heck of a party

 

Right! That’s down right funny.

How's LS going to charge each driver for their own appreciation party?

Not all drivers go to the party. And 2% of 8500 to 9000 trucks is a lot of revenue. That would easily be a Million dollar party.

 

There's lots of theories about where to 2% goes. I was told it was to pay fees to the banks for shuffling the money and or kind of a fee for them paying us pronto before they actually get the loot from the shipper.


Using one dollar as a base, a bco would get 0.6566 at 67% of 98%.

Using one dollar as a base, a bco would get 0.650 at 65% of 100%

A difference of 0.0066 cents. Multiply that by say 150,000 gross landstar dollars and you see that they are separating the average bco from $990.00 per year under the new rate if he was to gross $150,000 in Landstar revenue. Some do much more in total revenue. As I said before, they gave them selves a pay raise. I read the turnover is at 75% so it wont be too long before we are all at the new rate, which will mean a huge winfall for Landstar.
Funny thing is they forgot to mention the pay cut when I re hired.

 

A friend who went to one said it was the company big wigs, a bunch of small fleet owners and the husband-wife butt kissing types who spent the day patting one another on the bottoms, handing out placks and telling eachother just just how much they thought of themselves

 

Right, every change always goes LS's way.

Funny, but they probably don’t even realize that the average driver doesn’t want anything to do with the party and would probably rather have the money for the party split up amongst themselves.