Mega Carriers Operating at a Loss Q1 Report

Looks like JB Hunt is also letting go of a few drivers now. Seems to be only getting worse!...

 

Raven out of Jacksonville will lay off 57 drivers from its dedicated and OTR fleet.
From Freightwaves. Sorry can't post the link....I'm on my phone.

 

Florida carrier shuts down OTR and dedicated fleets, lays off 57 drivers - FreightWaves

 

Speaking of “Arnold”
I’m fascinated by how corporations and advertising can spin things…the article refers to 90 y/o company
Only way that possibly works is to back to the Original Company
“LebArnold” the Arnold bros original venture in trucking in the early ‘30s
Then went on to found New Penn and LebArnold became their truckload division…right up until Big R leveraged New Penn and dropped the Leb

 

Who the economy is setup to benefit won’t really matter when 80% of economic activity is driven by middle and lower class consumers and those same consumers pull back spending, stop paying bills, delinquencies, etc.

 

You could buy a truck cheap and get back in it.

 

That is very true. It is the root of the problem. Adam Smith articulated it in "Wealth of Nations", which birthed Capitalism. Marx and Engles saw the fatal flaw of Capitalism - that the power structures ultimately flow wealth into a super concentration which will collapse under its own weight and proposed a new structure that could be created from the resulting chaos.

But that is neither here nor there. Using the commonly accepted measures used for the last 50 years, the economy is doing very well. Compare the IMF Global Outlook from 2019 to 2023. Or the CBO data. Or just look at the Fourtune 500 quarterly results. Outside of transportation, most are beating expectations and are showing positive revenue growth. Even within the transportation sector, freight volumes indicate a healthy economy, it's over capacity that is impairing profitably. Again, compare that to 2019, when capacity went up as freight volume went down.

 

Or I could sit on my back porch and drink beer. Decisions, decisions.....