Your most important decisions deserve the most qualified advisors.

News

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.

January 3, 2013 - Study Finds Truckers Unhappy With Election

In a recent article from DC Velocity, it is reported that an overwhelming majority of those in the trucking industry did not support the President in the 2012 Election. According to the 4Q 2012 Business Expectations Survey by Transport Capital Partners (TCP), 93% of carrier executives surveyed were unhappy with the election results.

Additionally, the article relates that uncertainty in the US economy is affecting industry mergers and acquisitions. In a statement, TCP Partners Richard Mikes and Steven Dutro said, “Uncertainty about the tax picture for 2013 is [pushing] some carriers to accelerate merger and acquisition activity before the year closes, and many deals are being pressured as buyers and sellers are uncertain about what 2013 holds for them.”

Read the full article here.

December 13, 2012 - Truckers Wait for Washington

TheTrucker.com reports that 93% of carrier executives are not pleased with the results of the 2012 presidential election. However, 9% of small carriers are pleased, compared to only 1% of large carriers. These numbers are sourced from the latest Business Expectations Survey, conducted quarterly by trucking industry consulting firm Transport Capital Partners.

In addition, a majority of trucking companies are waiting for the “Fiscal Cliff” debate to be resolved before moving forward with any major mergers and acquisitions. TCP partner Steven Dutro notes, “Carrier executives know that if consumers and businesses are uncertain about the economy, in general, and their own personal finances, in particular, they will not be buying goods. It’s not surprising that carriers are unwilling to risk their own capital if their customers are also sitting on theirs.”

TCP partner Richard Mikes reports a similar sentiment among his industry contacts: “There is a general pause evident throughout the industry,” said Mikes. “Most carriers are in a ‘parked’ mode.”

Read the full article at TheTrucker.com.

December 13, 2012 - Carriers Unhappy with Election 2012

Truckinginfo.com reports that an overwhelming 93% of transportation executives are displeased with the results of this year’s presidential election. This data comes from the 4th Quarter Business Expectations Survey conducted by Transport Capital Partners.

Additionally, TCP partners Richard Mikes and Steven Dutro report that uncertainty around the “Fiscal Cliff” debate in Washington is causing carriers to hesitate before proceeding with any mergers and acquisitions. Read the full article here.

December 12, 2012 - HDMA Quotes Lana Batts on Fiscal Cliff

HDMA.org, the website for the Heavy Duty Manufacturers Association, references a Transport Topics article about the impending “Fiscal Cliff.” According to TCP Partner Lana Batts, “A lot of carriers say they want to sell before the end of the year. They may be buyers or sellers, but in the end they’re individuals, and a 3 percent or 6 percent tax increase comes out of their cash.” As a result, many carriers are waiting for the debate in Washington to be resolved before taking action on major transactions.

Read the full post at HDMA.org.

December 10, 2012 - Batts Quoted in Transport Topics Article Regarding “Fiscal Cliff”

TCP partner Lana Batts was recently quoted in an article by Transport Topics titled, “Fiscal Cliff’ Sparks New Deals as Carriers Ponder Tax Changes.” As the Obama administration and Congress deliberate 0ver revenue and spending changes, carriers are hurrying to sell before the end of the year. Batts noted that the fiscal cliff affects private equity buyers that “are thinking five years out. They want to flip those companies in five years, but they don’t know what the tax rate will be.” Read the full article here.

 

 

 

December 4, 2012 - TheTrucker.com: Mid Seven Acquired by Boyd Brothers

TheTrucker.com reports that Boyd Brothers Transportation has acquired Mid Seven Transportation. The transaction was executed with the help of Miller Welborn and Jim Parham of Transport Capital Partners.

“This acquisition by Boyd Bros allows Boyd to move into a market that has historically been a strong flatbed market and also gives the combined companies a strong base to build on  for the future,” says Welborn about the transaction. “Mid Seven has a great reputation to build upon and can grow rapidly.”

“We are proud to add Mid Seven Transportion to the Boyd family of companies,” said Boyd Bros. President Richard Bailey. “We plan to operate Mid Seven autonomously as a separate subsidiary. Mid Seven has some of the best owner operators and employees in the industry and we are especially proud of their safety and service culture.” Read the full article here.

 

October 17, 2012 - 77% of Carriers Plan to Increase Pay for Drivers

FleetOwner reports that over three-quarters of carriers are planning to give drivers a raise, with close to half of them expecting to increase pay by 2-5%. These figures are based on the quarterly Business Expectations Survey by Transport Capital Partners. TCP Partner Richard Mikes notes that wages in trucking have lagged over the past year when compared to other industries. Healthcare policy is also a concern, due to uncertainty over the fate of the Affordable Care Act. Depending on who wins the Presidential election, the ACA could go into effect, or be overturned. Read the full article here.

October 17, 2012 - Drivers Pay Likely to Increase

Truckinginfo.com reports that three-quarters of carriers are expecting to increase wages in the coming year in an effort to reduce driver turnover. The information comes from the Third Quarter Business Expectation Survey by Transport Capital Partners.

Uncertainty with how the upcoming presidential election will affect health care policies is also a concern for carriers, but not as much as was reported a year ago. TCP Partner Steven Dutro claims, “Without better pay and affordable health care for drivers, carriers will not be able to increase capacity for shippers.” Read the full article here.