Jason Rhyno of Today’s Trucking Magazine recently sat down with Richard Mikes of Transport Capital Partners to discuss driver wages and turnover. The results from TCP’s fourth quarter 2011 Business Expectations Survey show that two-thirds of surveyed carriers think that wages must be more than $60,000 to attract and retain drivers. Additionally the American Trucking Association (ATA) data shows that driver turnover rates doubled in the second half of 2011. Mikes discusses the importance of carriers balancing in 2012: balancing available trucks with rising freight volumes and balancing driver wages with existing rates. Read the full “The 60,000 Questions” article here.
March 21, 2012 -
The 60,000 Questions Interview with Richard Mikes
February 1, 2012 -
Driver Shortage Continues But Carriers Are Agressively Recruiting
According to TCP’s fourth quarter carrier industry survey and a recent article by Bulk Transporter, driver issues continue for carriers. While a driver shortage still exists, Mikes, TCP Partner, notes that “Carriers are aggressively recruiting and are opening more training slots, while the lack of extension of unemployment benefits is potentially encouraging people to seek jobs and training.” Click here to read more.
January 26, 2012 -
Smaller Carriers More Likely to be Impacted by Health Care Changes
Batts and Mikes are both quoted in an article by TruckingInfo.com that highlights the findings about health care costs from TCP’s recent survey. According to the survey, smaller carriers are more likely to be negatively impacted by healthcare changes that larger carriers who plan to implement numerous strategies such as wellness plans. Click here to read the full article.
January 11, 2012 -
Majority of Carriers Are Planning to Add Little or No Capacity
Both Batts and Mikes were recently quoted in Fleet Owner’s article discussing TCP’s fourth quarter Business Expectations survey that found that 73% of carriers plan to add 0-5% capacity. TCP believes that these expectations are impacted by low GDP predictions, escalating costs and regulatory constraints, and an unclear path towards higher rates. For more information, read the full article here.
January 4, 2012 -
TCP Facilitates Transaction Between E.W.Wylie and Walden Smokey Point
Commercial Carrier Journal reports the recent sale of E.W. Wylie of Fargo, N.D., to Walden Smokey Point. TCP facilitated the transaction between the two parties and was pleased to “help these two great companies find each other.” For more information about this recent sale, click here to read the full article.
December 12, 2011 -
Sixty-One Percent of Carriers Expect Volumes to Increase in the Coming Year
Supply Chain Management highlights the optimism in the trucking industry as TCP’s final quarterly survey for 2011 shows that 61% of carriers expect volumes to increase in the coming year. Batts, who is quoted in the article, says that she was pleasantly surprised by the outlook, especially when there are so many fluctuations in the economy and political climate. Click here to read the full article.
December 5, 2011 -
Mamas, Don’t Let Your Babies Grow Up to be Truckers
A recent article from DC Velocity titled “Mamas, don’t let your babies grow up to be truckers” discusses the impact of the Great Recession on trucking industry. TCP’s third quarter Business Expectations survey is cited, which showed that 28% of carriers are considering selling in the next 18 months if conditions don’t improve. This is the highest percentage since the survey began in 2008. Batts is quoted in the article as saying that the higher costs and regulatory constraints are frustrating to executives and that “it just isn’t fun anymore.” For more about the impact of the economy on the trucking industry, read the full article here.
November 2, 2011 -
Carriers Looking for Specific Lanes or Customers When Seeking an Acquisition
Lana Batts is quoted in Bulk Transporter‘s article on the recent acquisition of Frozen Food Express Industries’ dry van fleet by Celadon Group. Batts notes that TCP sees “a tremendous amount of interest in acquisitions, but not merger for the sake of merger, or just to get larger. Companies are looking for specific lanes, specific customers or specific types of shipments.” Click here to read more about current merger and acquisition activity.
October 26, 2011 -
Many Carriers Are Considering Leaving the Industry
In a recent article by TruckingInfo.com, Batts and Mikes are quoted regarding the recent findings from the Third Quarter TCP Business Expectations Survey. Given uncertainty about volumes, rates, drivers, and the economy, many carriers are considering leaving the industry. For more information, read the full article.
October 24, 2011 -
Potential for Truck Shortage Based on Carriers’ Hesitancy to Add Capacity
AmericanShipper.com discusses the tension between carriers who are hesitant to add capacity and the possibility that, with a slight improvement in the economy, there will be a truck shortage. Batts, who spoke for a Stifel Nicolaus Capital Markets conference call on October 12th, was quoted in the article. To read more about the Third Quarter TCP Business Expectations Survey and Batts’ reflections, click here.
