Despite a focus on safety, the trucking industry has been on the receiving end of expensive legal verdicts. These “nuclear verdicts” are court-awarded penalties and judgments that are over $10 million. While individual drivers may be involved in specific claims,...
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Charity drives to help workers in the trucking industry are nothing new. Truckers get sick. Truckers become temporarily incapacitated. Carriers go bankrupt. Whatever the reason, unemployment benefits are not always enough to sustain truckers and their families until they get...
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Shipping rates are experiencing downward pressure in some markets. Even as some states reopen during the pandemic in a move to kick-start the economy, shippers and brokers still maintain leverage over shipping rates, often to the detriment of carriers and...
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The Owner-Operator Independent Drivers Association is placing pressure on Congress to pass legislation that would help protect independent truckers and small trucking companies alike from less-than-ethical practices used by some trucking brokers. Trucking Brokers and Transparency When owner-operators and small...
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Last week, the Department of Transportation laid out new guidelinesfor truckers, including more flexible hours of service. Instead of adhering to imposed rest schedules, the new flexible HOS will give truckers more of a say in when they take their...
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Working capital is crucial to the success of trucking companies. However, as banks tighten credit requirements and lower lending limits, carriers need a reliable source of working capital to maintain operations. Banks and Working Capital Banks have been tightening their...
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Alabama, Florida, and other states have started to lift restrictions on their stay-at-home mandates, and other states are slated to follow throughout the month of May. Reopening states is not only a sign of confidence after the fist wave of...
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The past few years have seemed like a roller coaster for the trucking industry. Up until 2017 demand for capacity was very high. 2018 saw demand artificially increase due to threats of tariffs on products coming into the US from...
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In both strong and soft economic conditions, two things remain constant. One, the trucking industry is the backbone of the American economy and allows commerce to take place on a national and international scale. Two, the constant need for working...
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Since the first cases of COVID-19 were diagnosed, businesses in all industries have been looking for reliable sources of working capital. With new pressures placed on trucking companies to reinforce supply chains to keep products moving to businesses and customers...
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