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February 1, 2013 - Mikes recently interviewed about transportation job cuts

TCP Partner Richard Mikes was recently interviewed regarding Daimler Chrysler’s plan to cut 1,200 jobs at Charlotte-area Freightliner plants due to “softening economic conditions”.

“The trucking industry faces serious headwinds in 2013. Trucking doesn’t move unless the economy moves,” said Richard Mikes, TCP Partner. “Obviously, the drop in GDP in the fourth quarter is not good.” A shortage of qualified drivers and new government regulations are additional hurdles in the industry.

Daimler stated that they believe the economy will improve in 2013 and hope for the lay-offs to be temporary.

Click here to read the article and listen to the broadcast.

January 16, 2013 - Survey Shows Uncertainty in 2013

The Monitor Daily reports that uncertainty in the US economy translates to the trucking industry. According to the Fourth Quarter 2012 Business Expectations Survey by Transport Capital Partners, carriers are evenly spilt as to whether rates will increase or decrease in the coming year. TCP Partner Richard Mikes notes the effect of Washington politics, while Partner Steven Dutro addresses how the economy may affect driver pay.

Read the full article here.

January 16, 2013 - Carriers Unsure What to Expect in 2013

The Motor & Equipment Manufacturers Association reports that an uncertain economy paints a cloudy picture for the trucking industry. Carriers are split as to whether rates will increase or stay flat, and only 21% of carriers reported rate increases over the past three months. This does not bode well for drivers’ pay, notes TCP Partner Steven Dutro. “Driver pay increases will be constrained by these stagnant rates. It will be a tough balancing act for carriers to keep drivers. Investment in capacity is also likely to continue to slow,” he said.

Read the full article at MEMA.org.

January 16, 2013 - Carriers Consider Younger Drivers

Women and Logistics reports that more than 80% of carriers are willing to consider younger drivers, providing that they are well-trained. While driver turnover exceed 100% in 3Q 2012, carriers need a solution to improve retention. Nearly 80% of carriers believe that higher wages will play a role in keeping drivers on the job over the next year.

Read the full article here.

January 16, 2013 - Sluggish Economy Continues to Weigh on Carriers

As reported by FleetOwner Magazine, a large number of trucking companies believe that freight volumes are likely to stay flat for the coming year. Carriers are split, on the other hand, as to whether rates will increase or stay the same, indicating uncertainty in the market. These findings come from the Fourth Quarter 2012 Business Expectations Survey, conducted quarterly by consulting firm Transport Capital Partners.

TCP Partner Richard Mikes notes, “Their volume and rate outlook does not bode well for cash flows and profits in 2013 for an industry under costs and availability pressure for drivers.”

TCP Parter Steven Dutro explains how this might effect wages: “Driver pay increases will be constrained by stagnant rates [so] it will be a tough balancing act for carriers to keep drivers.”

Read the full article here.

January 9, 2013 - Carriers Willing to Hire Younger Drivers

Truckinginfo.com reports that that more than 80% of carriers would consider hiring younger drivers. This data comes from the Fourth Quarter 2012 Business Expectations Survey, conducted quarterly by the transportation consulting firm Transport Capital Partners. The study also found that larger carriers are three times as likely to invest in training entry-level drivers compared to smaller carriers. TCP Partner Richard Mikes notes the importance of driver retention, while TCP Partner Steven Dutro acknowledges that “those who are successful in properly training and developing loyalty will gain a real competitive advantage.”

Read the full article here.

January 9, 2013 - Trucking Companies Look to a Younger Workforce

The Fourth Quarter Business Expectations Survey by Transport Capital Partners shows that carriers in the trucking industry are looking to the younger generation to fill a driver shortage, FleetOwner Magazine reports. The survey found that as many as 82% of carriers are willing to higher younger drivers. According to TCP partner Richard Mikes, “Most carriers know that turnover levels have doubled since the recession, which has continued to negatively impact our industry. Past surveys have indicated that pay must go up to significantly higher levels over the long-term.”

TCP partner Steven Dutro notes that “investment in effective training programs will be essential to our industry.”

Read the full article at FleetOwner.com.

January 8, 2013 - Trucking Industry Aims for a Younger Workforce

Today’s Trucking reports that carriers are willing to hire younger employees to drive their fleets. According to the recent TCP Business Expectations Survey, 80% of those surveyed would consider hiring younger workers, provided that they had proper credentials. Currently only about 30% of carriers hire entry-level drivers.

Such a change is a result of a chronic driver shortage. Accord to TCP Partner Richard Mikes,“Everyone in the supply chain needs to recognize the critical need to pay a little more to keep quality drivers moving the freight.”

Read the full article here.

November 11, 2012 - Carriers Holding Steady in Flat Economy

From a November 11 article from BigTruckTV, slow growth in the US economy matches the trend in the trucking industry. According to TCP Partner Richard Mikes, “Carriers are not adding capacity as the economy remains relatively flat, used equipment prices go up and conservative equipment plans boost used demand.”

For TCP Partner Lana Batts, “Long term demographics still portend a shrinking driver pool, and current CSA and HOS regulations remove drivers and shorten effective hours (and pay checks) for existing drivers. Some runs that were doable in a day are requiring a sleep break.”

October 18, 2012 - Survey: Truckers’ Wages on the Rise

In an effort to increase driver retention, many carriers are planning to boost wages in the coming year, according to the Third Quarter 2012 Business Expectations Survey by Transport Capital Partners. The online publication Truckers Report claims that this is a step in the right direction, however more will need to be done in order to keep employees satisfied. Read the full article here.