Volume 11, Edition 9 (posted 9/29/2008)
This is a difficult month to find any trucking news which is unrelated to the unprecedented economic crisis which the country faces. Trucking is not alone as every industry is focusing on how these problems will impact their industry. As we wait to see if the terms of an agreed economic bailout will work, the country seems to be in a holding pattern on all other issues. But we continue to find items to address.
ECONOMIC WOES – The economic state of the trucking industry has historically been a harbinger of the state of the economy. Unfortunately that continues to be true now, as the economic crisis places a severe dent in the industry’s ability to operate profitably. A number of publicly traded trucking companies have been hit on the market, with some ratings downgraded this week. The ATA has announced its support of a possible bailout, noting that the tightening market is making it difficult for carriers to finance the purchase of trucks and the credit crunch is also making collection of accounts receivable more difficult. Read More