part of an article from from etrucker.com






Amid all of the economic gloom and doom, one bright spot for the trucking industry is record low driver turnover – 65 percent for large truckload fleets and 58 percent for small truckload fleets, American Trucking Associations Chief Economist Bob Costello said Tuesday, Jan. 27, at the NATSO Show 2009 in Nashville, Tenn.

When the economy begins to turn next year, Costello said it will be good for the survivors. “Truck capacity will tighten fairly quickly once a recovery commences, but until then it will be difficult for fleets,” Costello said.

Otherwise, economists painted a bleak picture for this year. Wachovia Managing Director and Senior Economist Mark Vitner said that while he forecasts an end to the recession by yearend, he says the end won't necessarily be “a very good time. It means things are not getting any worse – things have just stopped falling.”

Costello echoed those sentiments. “Unfortunately, we are dealing with very bad freight volumes,” he said. December freight numbers were down 11 percent, which is the third-worst percentage of all time and the worst for a single month without the influences of a labor strike.

Since its peak in 2006, for-hire freight volumes have fallen 16.2 percent, and Costello said it’s not over. June through December for-hire loads show decreases in all trucking sectors, with tanker and flatbed sectors taking the worst hits at about 20 percent declines each. Dry van was down more than 15 percent, and reefer posted less than a 5 percent decrease. Costello said the reefer segment has been more stable because consumers still have to buy perishable goods like food and medicine.

 

That's a good article, I like trying to keep track of things. I wondered if I'd have work or my current contract after Christmas, and so far, so good. My approach is this, get it while the getting is good...although I know many people will say it stopped being good a long time ago. I'm not necessarily buying into all these 2009 turnaround scenarios, though if it happpens- fine with me. I heard one economist say that the hyper-inflation from printing all this money may not show up for five or six years. In such a scenario, things could rebound again for awhile before giving us new problems down the road.

I've been listening to a book on the Coming Economic Collapse- something light, you know? It's a 2006 book and he was forecasting...$100 per barrell oil...yep...but he also said it could go north of $200.

So, even if we crawl out of Wall Street's trashing of the economy, we still have oil prices and government debt to contend with down the road. This is no time to be overextended, IMHO.

 

with all the years of oppurtunities,wealth, & success, just about everyone alive & of age had a chance to make good decisions, or at least learn some valuable lessons. lucky for me I learned by listening to older wiser folks. experience is the best teacher, but also the most costly. I obeyed what I was taught & I figured long ago. if things didnt ever go bad for me financially, then the outcome would be ..I'll have more money then I ever need. soooo after taking heed.. many years later, I am still living in my very first small 4 bdrm 3 ba 1500 sq brick paid for home. bought & still driving my very first truck a '99 intl cabover wich I paid cash for. I have lost thousands in potential income, however, I have no problem meeting any of my financial obligations. I always lived below my means. 2 of the best examples for me was... I could easily afford a $200,000 home when I bought mine for $37,000. & I could of bought a a brand new truck also, but I paid $15,000 cash for mine. had I bought the expensive house & truck, I may have made it or not. I didnt make that decision,so i dont have to worry about that. thats why I'm in the good financial shape i'm in.

I'm just a young guy who was raised by old folks, with ole fashioned values... my grand parents.. God bless the greatest generation. they may not of had any money, but they had far more wealth in the form of wisdom then so many today, I am proud to have been related to some of em'

 

Most of us should listen to those who came before us. The reason our economy is in the shape it is today is because we failed to learn from mistakes of the past. My grandparents didn't believe in going into debt to finance personal wants. They saved and thought before spending their hard earned money. They may have financed their home but didn't finance a car. I recall one of my grandparents bought a new car when I was small. He paid cash. I don't think that it occurred to him to make payments. Unfortunately, one reason so many of us are having difficulties has as much to do with our high debt than other influences. Of course, we still need cash flow, but with little or no debt we need less cash and have a greater chance of survival.

 

this is true. the biggiest difference I see is the buying habits as of recently. when my grand parents bought their home, they did not run out & furnish it with all new & expensive things. I bought my home aprox 17 years ago. to this day the only thing new that came into my home as far as big ticket items was a front room set. & a 20'' t.v. that's it. no payments on a big screen t.v. I did not have to have a new car in the driveway to go with my new home. the practice of buying a truck with all the bells & whistles can have it's regrets too. I hope this economic crisis will teach lessons not soon to forget. I have taken a huge beating the last several months, I had to tap into the reserves many time & more than ever, & I have like I said lost thousands in potential income. BUT I am still here paying everthing on time & I will make it. there are those who make all the right decisions & can still have bad luck. in these times good people WITH good habits can go under. I'm not saying everyone who cant make it, is their fault. Just a lil look at each of our past behavior's & decisions would probably teach us a lesson, this includes myself.