Rates in the toilet?

Not true. The carrier has the dot number. They are responsible for the truck no matter what shell holding company is on the title. For that matter even the shipper can be held liable for hiring a carrier with a spotty safety record.

 

The DOT number IS for the holding company......the name of the holding company and the carrier are similar.....ask a bored Mega driver to see his cab card(folder).... You'll see what I mean....

 

https://www.fmcsa.dot.gov/regulations/title49/section/387.309

Not quite as easy as some seem to think it is.

 

That wont make any difference,they will set up a new corporation seperate from the trucking business just to buy insurance from,more paperwork same outcome.

 

A carrier has to have a dot number to operate. The dot number is what makes them the carrier.

Swift transportation can but ten thousand trucks under swift truck ownership corporation and lease them to swift transportation. but it is swift transportation who has the dot number and operates the trucks. not swift holding company. Or are you trying to say swift transportation is the holding company for swift truck ownership, and all the real income and assets is being diverted from swift transportation to swift truck ownership corporation?

 

It don't matter whose name it under, the lawsuit will name everyone including the janitor.

 

Exactly.

I have trucks that only haul our own products, and I tossed around the idea of setting up a separate trucking company, been told to do it for liability purposes. However, others have said I'd be wasting my time because soon as they figure out I'm the "controller" for both companies, I and both companies will go down with the ship, lol.

 

Spot on. I always get a giggle out of guys that tell me I need to incorporate the truck to protect my assets. It's amazing how many people don't have a clue how the system works.

 

No offense meant to any of you guys, I'm sure you're all wonderful people & awesome truckers and I think your Mercer thread is quite entertaining, but until I see more than one of you posting exactly how many total miles you ran in a specific time period (and it needs to be a quarter or longer, anybody can have a killer week or month) and exactly what your revenue was for that period (and maybe tell us what your fuel cost was) I will continue in my opinion that you are all drinking kool-aid & blowing smoke.

 

Deleted