Trans Am Still

In 06 some companies had some really old equipment. Like Heartland, I mean their trucks looked really beat up and they used duct tape to keep some of them together but they weren't the only ones. Now every big company has new trucks. I know some think a 3-4 year old truck is old but that's not old that's brand new compared to some of the stuff I've driven. These big companies are pushing out the little guy but it was the little guy who was buying all those used trucks. Now these companies are turning over their entire fleet in 3-4 years but if there is no little guy who is going to buy the used trucks?

 

Most likely that explains why used truck prices were off by 20% in November and December. They are saying that the exemption for trucks older than 2000 from the elog mandate will drive the price of those trucks up and the sales. That will also hurt the independents.
But ....I'm with Pete on this one,,,,,everything points to a slowdown in freight. I have brought up WalMart several times over the last few years because I could see it just in the way their stores were being operated. Today WalMart announced that they will be closing 269 stores and laying off about 16000 people. Ten thousand of those will be US workers and 154 of the stores will be here. http://www.nydailynews.com/news/nat...acting-10-000-u-s-employees-article-1.2497968
Another one that I can see a change in inventory is Dollar General. Around here they seem to change employees like most folks change underwear. Their seasonal inventory has changed also. They used to dedicate a much larger section to seasonal goods.....Valentines Day candy, etc.. That has been cut in half which means their expectations on sales have been lowered.
Another thing that has been noticeable just in the last couple of weeks is the price of necessities. Grocery prices are way up. It seems to me that over the years when the economy isn't quite what it should be the cost of the goods that we must have skyrocket. That is just from a shopper's point of view! But I did hear someone else say the other day that the lower gas prices were wonderful and now they could afford to drive .....they just wished they could afford to buy something once they got there!

 

This is part of the economic news today -
The Dow plunged as many as 536 points on Friday afternoon, leaving the index on track for its worst day since the late summer market freakout. The Dow is now down about 400 points, while the S&P 500 lost 2.3% and the Nasdaq plunged almost 3%.

The wave of selling dashes hopes that recent signs of stability in the market signified Wall Street's panic attack was over. On Thursday, the Dow jumped 228 points, its best day since early December.

"The sentiment is dominated by fear. Ahead of a long weekend, no one wants to be exposed," said Sam Stovall, managing director of U.S. equity strategy at S&P Capital IQ.

Friday's market slide was fueled by another crash in crude oil prices and China's stock market tumbling into a bear market. Stocks are now flirting with critical levels. The S&P 500 briefly broke below the 1,867.01 level it plummeted to during the market mayhem last August. The Nasdaq is on track for its lowest closing level since October 2014.

"There's a mad rush for the exits! There is one direction to this trade in the immediate term: Lower," said Peter Kenny, an independent market strategist and founder of Kenny's Commentary.

Even the White House weighed in on the recent market turmoil. White House spokesman Josh Earnest said on Friday officials are closely watching market movements and their potential impact on the U.S. economy.



Oil crash is spooking Wall Street

Stocks have moved almost in lockstep with the price of oil, which plunged another 6% on Friday to as low as $29.28 a barrel. That's the cheapest it's been since late 2003. Friday's plunge was fueled by signs that sanctions on Iran could be lifted as soon as this weekend, exacerbating the supply glut rocking the oil market.

While the oil plunge is great for many consumers because it lowers the price of gas at the pump, it's been a big negative for stocks lately. First, cheap oil eats into already-shrinking profits for energy companies. Many of the biggest losers on the S&P 500 on Friday were energy stocks, with Marathon Oil, Chesapeake Energy and Murphy Oil all plunging 8% or more.

Secondly, the oil crash is raising fears that poor economic performance around the world is sapping demand. After all, oil demand is seen as a strong indicator of growth.

"Oil needs to stabilize. It seems misguided to conclude that equity prices will reverse course and trend upwards when the price of crude continues to trend lower," said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management.



Warning signs flash on U.S. economy

Also, it's not clear consumers are really spending their gas savings at the stores. The government said on Friday that U.S. retail sales dipped in the critical month of December. That's never good.

Economic concerns were reinforced by a new gauge on New York-area manufacturing activity, which unexpectedly plunged in January.

Meanwhile, shares of Intel, one of the blue chips of the tech world, plunged 8% as the slowdown in PC demand dented profits more than feared.

Stocks in China keep crumbling

Wall Street continues to take its cues from China, where the Shanghai Composite plunged another 3.6% on Friday. That leaves the benchmark index more than 20% below its December high and in a bear market.

China's stock market has been rocked by the slowdown in the country's economy and Beijing's failed efforts to stabilize financial markets. The turbulence has eroded confidence on Wall Street that Chinese authorities have a firm grip on the situation.

U.S.-listed Chinese companies took another big hit. Alibaba and JD.com tumbled 4% apiece, while Weibo plunged 6%.

Signs of fear in financial markets are present everywhere. On Friday the 10-year Treasury yield slipped below the 2% level for the first time since October. That doesn't happen when things are going well.

Gold, which tends to rise when people are scared, popped 2% and to $1,095 an ounce on Friday.

CNNMoney's Fear & Greed Index, which tracks several indicators to measure market sentiment, continues to flash "extreme fear" and is back in single digits for the first time since the August freakout.



Is this the big 'capitulation day'?

The latest big losses in stocks have some wondering whether Friday could mark a so-called "capitulation day." Those scary down days occur when investors give up on the markets and can be a sign of a bottom in prices.

 

Yes, I got one day breakdown, but because I logged 105 miles yesterday, I forfeited a 2nd day of breakdown pay.

 

Is Trans-Am keeping you guys rolling? How long until DirectTv gets installed in all the trucks?

 

Most of us are no longer with TransAm, Volunteer Trucker, so we can only tell you our experience. I think with a good DM you average about 2700 a week. Sometimes more, sometimes less but that would be the average.

I am sure when Hick and some of the current drivers get online they can tell you what their average is now.

 

I have a REVISED idea on how to get around that situation to benefit the OTR truck driver.

An OTR driver is legally allowed to work 14 hours a day, 11 of them for driving, The remaining 10 hours are for rest and sleeping.

An OTR driver, along with other truck drivers are also exempt from overtime pay laws.

Pay the OTR driver, while out on the road, hourly for the FULL 14 hours a day plus the mileage pay.

Federal minimum wage is $7.25 an hour.

$7.25 an hour X 14 hours = $101.50 for the day.
$101.50 X 7 days = $710.50 for the week.

In ADDITION to the $710.50 a week, the mileage pay would then kick in.

Regardless of how many or how few miles the OTR gets, he or she will at least get $710.50 a week before taxes.

God bless every American and their families! God bless the U.S.A.!

 

Getting a 34 hour restart in and the wife came over to LA Crosse to hang with me. We are in a hotel. I can say this I would never recommend this hotel. Bad shower and the laundry room is from the dark ages with today's prices. At least the room was clean. Although I won't put it under a blacklight