Transport Topics recently quoted Richard Mikes regarding new driver’s pay. The article also references the national Business Expectations survey conducted by Transport Capital Partners. Read the entire article.
February 23, 2009 -
New Driver Pay Suffers Amid Economic Downturn
February 23, 2009 -
Wages Remain Low as Freight Demand Drags
Richard Mikes, managing partner of Transport Capital Partners, was quoted in the article “Some Firms Cut New-Driver Pay as Freight Demand Stays Low” in the February 23 issue of Transport Topics. Read the full article here.
November 3, 2008 -
Lending Slow in Rough Economy
Transport Topics recently published an article by Steven Dutro, “Carriers in the New Lending Enviroment”. View the entire article.
October 20, 2008 -
For Many Truckers, Meeting Financial Obligations Becomes a Challenge
Transport Topics quoted Lana Batts on the credit crunch. She noted that banks are becoming concerned whether shippers will be able to pay their bills to carriers. As a result, they are concerned whether carriers’ account receivable are as solid as they once were. She noted that the issues to be “when” a carrier was paid; the issue is now becoming “if” they will be paid.
October 13, 2008 -
Batts Addresses Issues in Financing
Transport Topics quoted Lana Batts on the tight credit markets. She noted that while there are still some people who are willing to work with truckers on financing, the list is getting shorter and the qualifications are getting tighter.
September 19, 2008 -
Carriers Feeling the Pinch
Transport Topics quoted Lana Batts on the growing cash crunch. She noted that shippers are extending the time the pay carriers. The problem is made worse because carriers have to pay their fuel costs on a daily basis, but are being paid by the shipper until 45 days later. She noted that even if a carrier receives 100% fuel surcharges from 100% of its customers, it is still about 20% in recovering its increased fuel costs because of billed versus actual miles, out of route miles, empty miles, and idling.
May 12, 2008 -
“Empty Miles” on the Rise
Transport Topics quoted Lana Batts on the reported increase in empty miles in the trucking industry. She noted that as long haul carriers move to more regional markets, the number of empty miles increase, the number of turns increase, and dwell times increase in significance. She noted that “you can no longer measure productivity in miles, you also need to measure it in hours”.
April 14, 2008 -
Rising Fuel Costs Present a Challenge
Transport Topics quoted Lana Batts in a lead article on rising fuel costs, entitled “Fleets Seek Fuel Savings.” She noted that that the difference between the miles that carriers actually consume fuel is quite different from what is published in the commercial miles guides.
November 26, 2007 -
Mergers, Acquisitions Bound to Rise
Transport Topics quoted Lana Batts in two separate articles on consolidations in the truckload industry, noting in 2008, “There will be some mergers and acquisitions with good companies being bought, but bad ones will just drop out.”
July 23, 2007 -
Private Equity Provides Liquidity
Transport Topics quoted Richard Mikes in the 2007 “Top 100 Carriers… Private Equity Reshapes Trucking.” Mikes was quoted as saying: “Private equity investors are providing an alternative for trucking companies looking to sell their business. It has given trucking more liquidity. The private equity investor is driven by financial parameters.” He also addressed trucking owners’ uses of debt after the past cycle.
