The sky is falling....

[mndriver]

They say trucking has 3.2 million drivers.

That would be 1/10 of 1%.....

0.001

Another 3,500 truck drivers lost their jobs in December — and it's a troubling sign of the recession that's slamming the $800 billion trucking industry

In total, 6,600 truck drivers lost their jobs in 2019. Experts worry there's more to come next year.

www.businessinsider.com

 

[Duck]

 

[Electric Chicken]

On the bright side, it keeps me out of Baltimore.

 

[Hammer166]

They say trucking has 3.2 million drivers.

That would be 1/10 of 1%.....

0.001

Another 3,500 truck drivers lost their jobs in December — and it's a troubling sign of the recession that's slamming the $800 billion trucking industry

In total, 6,600 truck drivers lost their jobs in 2019. Experts worry there's more to come next year.

www.businessinsider.com

I read a different article couple days ago, but same thing. Talked of how great it was in 2018, and their example companies really grew as they moved into 2019, and were now in trouble. And never once made the point that most of these companies hyperextended themselves based on a historic bubble in rates and volume, and how foolish that decision was. Wasn't even obliquely hinted at.

 

[Electric Chicken]

I read a different article couple days ago, but same thing. Talked of how great it was in 2018, and their example companies really grew as they moved into 2019, and were now in trouble. And never once made the point that most of these companies hyperextended themselves based on a historic bubble in rates and volume, and how foolish that decision was. Wasn't even obliquely hinted at.

Yeah nobody talks about the reason.

Everything was so good you couldn't fail if you tried. Then things get normal and the business sense you didn't need for that brief period you suddenly need again.

 

[mndriver]

View attachment 56179

My thoughts too.

 

[Mike]

I read a different article couple days ago, but same thing. Talked of how great it was in 2018, and their example companies really grew as they moved into 2019, and were now in trouble. And never once made the point that most of these companies hyperextended themselves based on a historic bubble in rates and volume, and how foolish that decision was. Wasn't even obliquely hinted at.

What they don’t say is how many drivers continue to enter the market every day.

And as related to trucking companies, new authorities, at least through the first half of the year (possibly the entire year), were being started at the same rate in 2019 as 2018.

 

[ironpony]

And as related to trucking companies, new authorities, at least through the first half of the year (possibly the entire year), were being started at the same rate in 2019 as 2018.

Many of them opting to buy new equipment, with that debt leading to very high operational costs that couldn't be sustained with the lower rates we endured last year. There was a whole bunch of whining about rates last year on facepalm...

 

[Electric Chicken]

Many of them opting to buy new equipment, with that debt leading to very high operational costs that couldn't be sustained with the lower rates we endured last year. There was a whole bunch of whining about rates last year on facepalm...

Getting that $180,000 Petercar with garbage credit at 14%+ because money is easy to make. Then BAM! Oh shit too much truck.

I ain't even wanna spend 15 on a truck. They all wear out anyhow. Easier to pay for repairs when there ain't a payment.