NO PEAK SEASON THIS YEAR. Swift CFO breaking the news

If this is a normal downturn in the financial cycle.
2023 will be worse than 2022
Hopefully 2024 we see the bottom
Possibly 2025 it starts to get better

 

Everybody saying the world is about to end is making me really start to believe we are in for a few more years of prosperity.

 

Right?
25 days of fuel?
Food shortages?
Walmart and Costco going out of business?
restaurants closing up?

I was at a Costco in Chicago on Sunday morning at 11am. Parking lot was Jammed full up and long long lines at the fuel islands. I haven’t been able to find but 2 or 3 fresh good limes for my margaritas this year no matter where I look.

I work the spot market and posted rates and volumes are certainly down. I’m currently gobbling up all I can eat freight while it’s still out there. If profitable rates are around I’ll be running it. If it gets to ugly I’ll work out of the shop for a while. My junk will be all tuned up and spit polished for the next upturn.

 

I see you as an eternal optimist.
It happens when your hand has 4 aces.
We as a whole, however, we'll loose our shirts collectively.
'23 & '24 will be a bloody mess.

 

/shrug im leased to a carrier thats been in the game a long time and have a ton of contacts not affiliated with this one i can turn to in a pinch who would snap me and my rig up. Wouldnt make as much but ill survive unless i blow my engine or something stupid.

 

Im already turning it in and calling it quits 7 months earlier than expected. I won’t be running these cheap rates.

 

I was scheduled to leave the industry in Jun/23 but with this downturn and it looks like it has more to go, I’m thinking of leaving all together. Hell I’ve been parked for 3.5 weeks now. Still haven’t gone back to my truck to clean it up after the last 1.5 months on the road. Just don’t want to look at it at all because of the rates.

 

Probably going to hurt some butts with that one. All I ever hear anywhere is "my contract" and "my customer service". How many of those contracts get lit on fire when the shipper realizes it can save a buck a mile on every load dumping their generic ### dry can freight on a load board.