Stevens Transport A year in review

Baritone, from what I've found looking around you are exactly right, most of the companies training academies charge similar costs, and then the tuition reimbursements are similar. In Tennessee there are community college driver training programs that are significantly less expensive. The one nearest me is about $1400 vs. the TDI (for profit school) that charges almost $6000. Between those it is a no brainer

I am still trying to learn more about the company schools like Roehl, Millis, Stevens and a few others. If they are the companies I want to work for I guess it might be good to train there.

 

So called "Leasing" like Stevens has is a bunch of Poppycock. You are just taking a company truck and paying for it without the benefit of ever owning a truck and they can write it off twice and if anything happens you pay the maintenence. You people are a little crazy if you ask me. My brother worked for Schneider for his 1st year and made around $40,000. Good greif. Why would anyone do that?

All computers wait at the same speed.

 

Thanks for the update TLH. I think too many drivers make incorrect assumptions that all leases are bad without knowing details and how to make money beyond just looking at the obvious.

 

You dont know anything about business at all. You're a total sucker and they saw you coming. You will NEVER have any EQUITY which is what you BUILD when you BUY a truck and PAY for it for 4 years and trade it for another. At the same time you WRITE it OFF according to the rules of the IRS. The difference between the cost of a new one and the amount the old one made is called PROFIT. There, that is a 5TH grade lesson in economics. By the end of 20 years you could own a fleet of Peterbilts and trailers. Now I have made money in the trucking business and have driven 2 million miles so I know a thing or two. MY wife and I are going on a 21 day trip to Asia including a 17 day Cruise aboard a ship this year. What are you doing for you're vacation? Working for Stevens so they can get you a new truck? Ya, leasing is a about as smart Mcdonalds: They fatten their customers up and kill them all with heart attacks.

 

One other comment. You need to read up on the thousands of lawsuits and alol the people who have been stomped on by leases by just about every company. You arent leasing, youre just making payments and doin their maintenence on a piece of junk you'll never own. It's quite berserk really.

 

Hi TLH

First I want to say thank you for your posts and the time you take to post them. My husband was working for Stevens for a while and though we've had many issues with them you SAVED US by specifically saying not to go lease if you have a lot of obligations, family ect. I can't thank you enough for that.

Please keep posting even with the people who are not very nice on here that don't understand what your doing and why. You helped me understand more about the Stevens Culture so that I was prepared when they pulled some stunts on us. If I wouldn't have known we would have done the lease and I wouldn't have saved up the money I did in case they pulled something.

You rock and please keep on writing!
Cher

 

Business 101: The prime objective is profit.
It doesn't matter if you hold equity or not, profit is the issue.
I have leased equipment for more than 30 years. I have also owned equipment for the same length of time, while in business.
Profit is post tax receipts plus equity.
If leasing produces more profit than equity, then lease. If ownership (equity) produces more, then purchase.
Simple as that.
I presently lease my truck. I know I will never 'own' it. But my intent is to build wealth thru profit. If I can 'rent' a piece of equipment from you and produce cash flow that gives me a profit, then why should I care or you care? If I can create a greater profit by purchasing that same piece of equipment, then that may be the better way, but not necessarily.
Consider the true value of that piece of equipment when it's paid for. Is it really worth what you think? Often times not. And you have to go thru the gandydance of finding the right buyer.
I owned a pritning press that was valued at $120,000 by everyone from the IRS to my accountant. When I finally put it up for sale, I netted $88,000. That was my true equity. It took me two months and a lot of trouble to sell it.
On the other hand I had three other presses I leased. When the lease was up, I opted to return the equipment to the lease company.
The prices fell more t han 35% from what they wanted for my purchase option to what they were willing to sell them for.
(I was retiring and selling out and wasn't interested)
Nine flatbeds, four forklifts, 14 mechanics later, they were all gone. All I had to do was make the coffee and supply donuts to the guys.
When all was said and done, the percentage profit from each piece of equipment was about the same.
Now which was easier to get out and away from?
A true lease is one where you pay the depreciation, the interest costs and a small profit to the lender (lease company).
You use it to make a profit. If all works out, you walk away happy, and so does he.
Here is the bottom line: I can drive as a company driver for 0.30/mile. or I can take a risk (don't under play risk here) and make about 0.50/mile. (currently, I have averaged 0.503/mile). I'm doing the same work. Hauling the same loads, seeing the same customers.
I am in business for myself. Stevens doesn't bail me out if I don't drive. I take the risk. But I have been self employed virtually all my life, so I don't care.
Are there better leases out there? you bet!
But my lease leaves me less risk and easier to operate.
Could I make more money as an O/O?
Probably, but I don't care to do that. I may in the future.
What probably makes the difference is seeing where trucking goes in the next couple years. If I'm happy with it, I'll probably go the O/O route.
But don't tell people that leasing is not really business or good business. It can be good or bad, just as equity can be the same.
If a person wants to put their toes in the water and try self employment, Stevens' leasing is a great way to do it.
There is an escape clause that allows you to walk away and go back to a company driver if you wish. It's only a $500 cost.
You have a staff of people that will help you be successful and improve your business.
Find that as and O/O.
Business, not matter whether it's trucking or restaurants is not for the feighnt of heart. You have to be willing to work harder, longer and wait longer to enjoy your fruits of labor than a company person.
And you risk the chance of never getting there.
But you risk the chance of a much greater reward too.
As for your vacations? Big deal!
I've been there, done that a dozen times over during the years... all while leasing my equipment.
The bigger question is what can you do this year as a company driver, vs a lease operator?
For those that are willing to work hard and try hard, I say: go for it!
When we get older, we don't regret the things we did. We regret the things we didn't do.

 

Emulsified..Great Post! Passin Thru has a very simplified view of how business is profitable. Driving 2 million miles doesn't make you a good businessman, it makes you a driver that has driven 2 million miles.
All kinds of businesses lease all kinds of equipment because it is their decision in their situation that makes the best sense in their business plan. Passin Thru, you make broad claims, and yet you have no information that allows us you make these claims. We do not know any details of any of these drivers business plans. Without this information none of us can tell anyone that they are wrong. A guy that is bankrupt with a credit card can go on vacation! I fail to see the relevance of telling us about it.