Change was the word for 2008. The election of Barack Obama was a divining moment and change, whether welcomed or not, was on the way. But while the election was expected to be the big story of the year, ultimately the catastrophic economic downturn knocked politics down the chart. The tumultuous change in the economy was not welcome by any. Freight demand has dropped considerably. The credit crisis has affected both shippers and motor carriers. In an industry which is very competitive and operates on a thin profit margin, motor carriers are scrambling to revamp operations to survive the recession. The development of ancillary and value added services to increase profit without substantial cost increase is considered a key element to the success of any motor carrier in the coming year. The desire for corporate efficiency and high productivity, which was a core focus early in the year, is an absolute requirement now as it is not the way to grow, but rather the way to weather the storm.
