And one more bites the dust
#11
10-26-2008, 03:57 PM
I expect more of the larger carriers to file for bankruptcy. We seem to be in an epidemic of bankruptcies right now. There have already been over 20,000 carriers to go out of business this year. These involve some with 1 truck to those with several thousand trucks. It will create a difficult situation for some people, but should help the industry by reducing capacity. At some point there will be more freight than trucks. At that point we will see carriers take charge of the rates. Those carriers who have the cheap rates are the ones going out of business first.
I know that sounds bad, but I'd rather be ready for hard times and have them not come than to be counting on opportunities that never materialize. 
#12
10-26-2008, 06:03 PM
I think you are probably right about the capacity and freight, lowrange. I have noticed a higher quality of drivers who are applying with us. It is difficult for many but will help to get rid of some of the poor or marginal drivers. Hopefully, this situation will also see many of the cheap freight haulers go out of business.
#13
10-27-2008, 02:00 AM
Just because a company declares bankruptcy does not mean they're "going under" or going out of business. The term "bankruptcy" nowadays applies to about a zillion different financial/legal situations, many of which are not associated with ruin or "going under". I guess just wishful thinking on the OP's part...
#15
10-27-2008, 02:08 AM
Join Date: Jan 2006
Location: In my own little world, that rides right behind the cab.
Posts: 615
Re posted from another thread :-
"Re structuring" of a company normally means they take it and break it out into all it's pieces. The ones that maybe made some profit and don't owe to much they can sell off to other companies the rest, that lost money and owe $$$$$$$t they put into chapter 13, full bankruptcy, and everyone gets the shaft. If a court determins your uncle "stole" the $$$$ (Can be bankruptsey or criminal court) he will still owe it and either one will come after it.
#16
10-27-2008, 03:10 AM
Join Date: Jul 2004
Location: Speedway Indiana
Posts: 1,751
Those that are "ready" for these hard times stand to prosper. Those that are merely 'hangers on' or the 'fringe' elements now stand to receive what they so justly deserve. Adios! to the worst of the worst in the trucking industry. Whether behind the wheel, or on the corporate board..................good riddance!
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Fuel for free. Pre/Post trip for free. Sit at shipper/receiver for free. "Work 80-100, log 70, get paid for 40." Welcome to OTR coolie carrier truck driving!
#17
11-01-2008, 11:56 PM
Wal-Mart sure seems to have trust in them seeing how they just got 12 new bid spots..... I think someone was mis-informed.
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1999 Freightshaker FLD120.... my 1st baby 2005 Pete Low and Mean 2005 9400i Cheap and making money
#18
11-02-2008, 05:36 AM
Cargo-Master SUCKS. Cheapest broker I have ever seen.
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Faster than the speed of Peterbilt.
#19
11-02-2008, 01:54 PM
Even cheaper than C.H. Robinson?? I find that hard to believe, but if it's true HOLY SHIT!!!!!!!!!!!
__________________
1999 Freightshaker FLD120.... my 1st baby 2005 Pete Low and Mean 2005 9400i Cheap and making money
#20
11-03-2008, 04:36 PM
two years ago I had a steady run hauling resin (on dry van) to locations around Greer,SC $350. for loads going 60 to 100 miles $300 for 30 to 60 miles and $250 minimum. Cargo master came in and cut my rate by $100 I would only get the load at my rate when they couldn't find a truck. the load I did more often, the $300 load was now being moved by cargo master for $200. then a few months back landstar got the account: that same load now pays $150. In the past my dealings with landstar were very positive but now even they are cutting throats.
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