Why Is Trucking THIS Bad in 2024? The Stalemate We Are Facing

[@Daniel-z2j2v]

Expenses have skyrocketed while revenue dropped

[@RigAndRaise]

bad mix...

[@jonashodges235]

No greater joy than seeing progress in an initial decision made its a win win for me lately and I must say gagnon willaims deserves an appreciation

[@CarlosKendrick-td3kg]

@@russellcheliotis7242 i was just fortunate enough to have the guidance of gagnon williams

[@duvasio8956]

Ever since the market slowed down I’ve been enjoying my free time . I refuse to haul loads as an owner operator for company driver pay.

[@z-zociety-family4045]

GOOD JOB SIR!!! WE NEED MORE OF YOUS AROUND FR.

[@dannywitucki]

Shit. They get paid better. With benefits!

[@mannsolo6294]

@@z-zociety-family4045 do you think about what you say before you say it? Most people drive trucks because they're trying to provide for their families how many fucking people do you know have enough money saved up to provide for their families for years until the market returns? Talk about Noodle brain comments from people with no common sense.... this is the place.

[@WC1333]

All of you are wrong. Biden caused it…. Companies are struggling too

[@duvasio8956]

@@victorcastillo9413 My equipment has been paid off since 2016. And I don't have a 80k dodge ram that truckers finance to use as a "tax write off". Biggest government scam that most truckers fall victim to.

[@JAYT76501]

The real issue is the shippers are making excellent profits and continue to push the rates lower and there are plenty that will continue to haul at these low rates. I know it will never happen but until trucking companies and owner operators finally say enough it will continue to go lower. shippers know now they can always find someone to haul that cheap load. The people that actually move these loads have all the power but refuse to use it.

[@BigFaggTruckingLLC]

"and there are plenty that will continue to haul at these low rates" exactly... Until that changes, things will remain as bad as they are.

[@reginaldgates3352]

You made my point exactly...but still it should be a minimum rate to match today's cost and inflation

[@truckingjustice-pontificat2030]

Sort of. TQL 2B profit on 8B sales. CH 15.8B, TQL 8.7B Coyote 5.2B, WWEX 4.9B. From the top 4 brokers, this is 34B but 25% if that is 8.6B. This is only the top 4 brokers . Imagine putting an additional 8B back where it belongs, in the pockets of the carriers. THAT s the biggest problem. Some of this revenue is from global business but this is only 4 brokers. SWT

[@lofi5992]

it’s the brokers that are driving the rates down. they don’t care how much overhead it cost owner operators/carriers.

[@BigFaggTruckingLLC]

@@lofi5992 no. At the end of the day, It's carriers taking these cheap rates. There is no one else to blame. I don't run until I get the rate I need. Don't take cheap freight. We've got too many people out here taking trash rates.

[@smk4902]

Let me give you another big clue. The container drivers in Chicago area are working only 2/3 days a week. Most containers from Asia go to west coast, then on trains to Chicago rail yards, from the rail yards to the thousands of warehouses in the Chicago area, then get shipped 48 states. If the import containers in Chicago are very slow, that means the retailers are not ordering much. So there is a big chunk of volume missing.

[@Themrine2013]

as someone who works out of the seattle and tacoma ports we als are only working 2 or 3 days a week now.

[@periscope1368]

Trucking is so bad in 2024 because we forgot how bad it was in 2023.

[@AO-pn2uo]

And 2008

[@scylla56]

Demographics are leading this downturn. Older people such as retirees buy a lot less stuff than young people. Dead people buy even less than that. Look at the demography of advanced western economies and all of this makes sense. Unfortunately there is no fix for that problem.

[@nafakaboy]

i have my truck paid off and it’s not possible to make money…..trucking is like you make 10k then end up 13k in repairs then you make another couple k’s then insurance goes out and so many other things too many to list, i burned a lot of savings last year and this year just staying in business……mind as well do any other job and just pay bills and keep what i got, and not to mention how hard it’s on our health and being away from family ….as much as i love it still , it’s not worth it . best of luck to new guys.

[@markferguson3365]

Too many people in this industry are fatalisticlly optimistic. Not enough realists.

[@pablosalinas4775]

Im one of those optimistic o/o. But im starting to look for a company that I can lease on to now. I love running with my own authority but it seems like the only ones doing ok are the ones who are leased on or are company drivers

[@devincardenas356]

I should’ve went to school to be a diesel mechanic lol

[@samuelkuntz9734]

Diesel mechanic is alot harder than you think. Unless your a fluids changer on newer trucks, but you dont need educated to do that.

[@california_rebel]

Same ....

[@CantrellMosley1]

That’s what I’m thinking about doing lol

[@charlieboy501]

Good ideal I need to get back into mechanics

[@davehughesfarm7983]

Open a shop and charge 130/hr Hire a diesel mechanic.

[@gregorykacsandy5005]

👍... Hang in there.... All good things to he who waits !...🙏

[@craiggreen516]

And this too shall pass. Fingers crossed!

[@jaketysmajr2826]

Not anytime soon

[@stevecraig3004]

Don't hold your breath...😊

[@JT-wb9hl]

It's been 3 1/2 years. It hadn't gotten better.

[@Good2bking]

My uncle told me it’s too many people with cdl’s now , too many driver not enough loads

[@philsneed8378]

In my 30 years in freight, I've witnessed numerous booms and busts. Whether you're a carrier, broker, or shipper, you'll continue to experience both ends of this cycle. Before deregulation in 1980, the industry was heavily regulated, with carriers enjoying consistent prosperity under government protection. However, very few new carriers were granted operating authority. Post-deregulation, it became survival of the fittest. While trucking companies were safeguarded by the government before 1980, this came at the expense of a highly inefficient supply chain. Deregulation ultimately unleashed a 7% positive impact on economic GDP, ensuring that regulation will never return. Those in the industry are no longer shielded by government protection and never will be again. Surviving multiple downturns has taught us that success lies not in assigning blame, but in running our businesses smarter, maintaining fiscal discipline, focusing on specific lanes, adhering to streamlined processes, and remaining highly adaptable to ever-changing dynamics.

[@rm9sbg93zxjzg]

last two sentences are pure hogwash

[@ArmandoPerez-tj7bc]

It's like we're all in a giant game of musical chairs, trucking style. We're circling the market, hoping when the music stops there's a chair labeled "Profit" and not "Keep on Truckin'... for free."

[@ausdlantein]

The thing is every thing is higher and the profit get low. For example tire, shop fuel and insurance is like double now. And rate per mileage still same like 20 years ago when you pay 5 thousand in insurance the whole year now is pretty much. Down payment

[@aevizual2607]

That's exactly what I say too. No matter what buisness you walk into, their services and products have gone up in price now a days, but us truckers can't charge more for our service? We need to unite and do something

[@Loomislogisticsservice]

Look I'm 50 yrs in this your simple answer is the economy. It's the worst,

[@gogatruckingincado842]

100% !

[@ProfessorSticks]

50 years!!! Bro retire already. What have you done wrong to still be doing this. You’re a risk sir

[@atanastzvetkov9916]

That's true economy! I said 2 years ago until Biden is in the power is gonna be like that but didn't expect it to be that worse.

[@yankeeapple5615]

The price of used Harleys and other similar toys online is at an all time low. I cant believe the prices im seeing. This tells me that Johnny six pack is feeling the pinch.

[@mattroberts86]

LOL it's not the economy... Wall Street at an all time high, unemployment an all time low.... government subsidies to corporations for equipment in the 2018 "tax cut" flooded your industry with new trucks that were not needed.

[@hell_pike9150]

I think it's important to know, overall volume is probably going to stay lower because of deflationary pressure. The people simply have no money to spend

[@Elmucaroarrebatao]

None makes sense. Because consumer prices have increased in everything. So all of them have adjusted prices for inflation. But our prices haven’t increased and adjusted for inflation.

[@DieselTrucker2018]

They haven't increased in 30 plus years... To match the current economy of the time!!

[@Elmucaroarrebatao]

@@DieselTrucker2018 they never will because we are not involved in the negotiations of price for our labor. The true meaning of free market is that private property is king. Because only the owners have a better grasp of what it takes for the maintenance of the property so to use it as it pleases. No trucks/trailers no cargo transport. Freight brokerage is a complete scam due to government intervention and not protecting private property. Government got involved in price controlling since 1912 with the ICC and teamsters unions. So this “deregulation” in 1980 is misleading. Government isn’t supposed to regulate in the first place, specially price controls. The same thing that made the USSR collapse, centralized planning. Freight brokerage is like private bureaucracy setting prices when they don’t even give a shit about loss and profit statement from our trucks.

[@nicureality1427]

😅 prices are up, means people don't spent as much as before, so shipper reduces goods they use to buy before, and trucking doesn't have as many loads to haul-rates go down. It's a boomerang effect, and until the inflation won't be decreased by Gov, we will see what we have now-recession, not only trucking go bankrupt manynother business in retail have suffered heavily.

[@mattroberts86]

​@@nicureality1427retail profits are huge, your industry got flooded with government subsidized trucks starting in 2018.... the "tax cuts" were mostly corporate handouts and deregulation. In trucking, handouts to buy all those new trucks and the megacarriers have sold off much of their 2012-2018 equipment by now to the drivers hauling for pennies.

[@nicureality1427]

​@@mattroberts86why would the Gov subisidize private business? This isn't a social industry or agriculture? Are you talking about those sba loans-bcs thise were for employee to be paid? Or diferent grants?

[@hell_pike9150]

Thank you for sharing the data with us. So important for us to know this

[@somebody9785]

Too many dumb drivers hauling for rates below cost, signaling to brokers and shippers not to pay more because many dumb drivers will haul for pennies.

[@Prodigal1]

Too many dumb drivers, too many drivers/carriers PERIOD! Industry is flooded with Euros welcomed by our Govt and Shippers under the myth of a driver shortage. Loose entrance standards by FMCSA as pushed by the ATA letting all kinds of riff raff into this industry. A bad economy caused by economic illiterates, too busy hugging trees and LGBTQ’s (or LGBLT’s as I call ‘em😂) restricting US energy development and wasteful govt spending causing inflation and thereby high interest rates by the Federal Reserve in attempt to counter it and you have a crappy economy meaning demand for trucks is low while the supply of trucks is high. “Let’s go Brandon!”

[@DieselTrucker2018]

This IS the biggest reason besides the reason of the government paying the Indians to be here to run our trucks and not only are they making the cheap s*** rates, but they're also making money that the government's giving them and not having to pay taxes.

[@jmh4ggg]

It doesn't matter what a driver is willing to haul for. Rates are set by supply and demand.

[@stevecraig3004]

Not for long they won't. They'll soon run out of money to work for free

[@scudfarcus4343]

​@@jmh4ggg What a driver (carrier) is willing to haul for is literally the definition of supply. LOL😂. So, yeah, it DOES matter. ALOT.

[@waden404]

Just quit my OTR company. Theyve been telling us drivers the basics "the freight isnt out there" but nothing else. This video was amazing. THANK U VERY MUCH.

[@california_rebel]

I love the way you streamline all of this. Wish I had you as an educator for this Customs Brokerage course I'm taking.

[@someguyfromtheinternet5102]

I just went to college back home and got an associates in logistics specialist. I literally know most of this stuff. XD

[@notchfox6086]

Tuff times for sure, Thanks for the video!❤

[@jaketysmajr2826]

Miranda you are absolutely right we are totally screwed in this industry

[@coldchickenwings9437]

Miranda, seriously you are a hero! Ive been pushing my wife to jump with me & get a truck. We wanted our $ right. That happened & the bottom fell out for driving. Thank you for being SO transparent. I wish you happiness & shorter days!

[@Elmucaroarrebatao]

Ooooh wait I forgot something. The incentive created by regulation in rent seeking policies. Those regulations are created by big interest(humongous insurance companies) Like the following regulation. One is subject to be prices according to the state or zip code one lives. So I live in Florida, my policy was $28,000 a year, with 17 years of driving over the road, accident free. Even though I live in Florida, 90% of all my miles are not in Florida, only to get out and come back home. But you can have 2 years of experience, live in Arizona, drive every single week to Miami because a dedicated account, the same policy is $11,000 a year. That’s not free market. That’s rent seeking regulations. Where the proven skills(track record) of the individual and its area of driving is the most optimal measures to determine risk, not where one lives only. Can I adjust my price because I live in Florida? Like Burger King does when in an airport or high income area? We literally are indentured servants….

[@billrussell3525]

I sure wish there were more women like you out here! Great job and thank u, as always!! Your the best!

[@Stavros1977]

You have to remember this... trucking is a poor man's lottery, so there will always be carriers entering and willing to move freight equivalent to company pay. There are truckers that'll be very happy to make $1,000 a week profit as an O/Op. You can't fix stupid! You gotta get your brokers MC especially if you own more than 1 truck. It's a no brainer 🤷

[@nicolagaballo3120]

And this wasn t the case until 2 years ago and now it became just that? Why wasn t it a poor man lottery in 2021? Markets will adjust but it will take some time.

[@Stavros1977]

@@nicolagaballo3120 To many illegals in trucking. Thank corporate America. 2021 had plenty of freight but now with a poor economy and KZbin sensations glamorizing the trucking industry for likes, the result is what you see today.

[@kaysav1253]

@@nicolagaballo3120 2 years ago? lol it’s been over 3 years. The gold rush was just long enough so that everyone could set aside all their profit for this mega down turn. It’s trucking. Having fun? 😂

[@Mason-arc]

All we can do is let people go out of business until things get better

[@HectorWPadilla]

You also had a lot of experts announcing a recovery in trucking. Then again, the FED alluded to 4 - maybe- 6 rate cuts in 2024 and now that’s been revised to 1 or 2.

[@sandragrover4205]

Love ya. Thks for all you do to try and translate this catastrophe

[@dinkeeinvestmentsllc6428]

Call me a conspiracy theorist if you want but this is what i think is going on. Tens of thousands of drivers left the Mega Carriers in 2020 and opted to get their own trucks in an attempt to catch the trucking industries version of the gold rush. Even though a lot of those drivers have no idea how to negotiate rates they are still making more than they were as company drivers. Used trucks that were bought in 2020 were going for about 50 grand and they are paid off now so those drivers have low overhead and can still profit in this market. As for the fuel going up while rates plummet i strongly believe that the lobbyist for the mega carriers have convinced this administration to help them get their drivers back and the only way they can do that is by increasing the cost to operate which will in effect reduce profit margins and force the drivers back to the mega carriers. The minute the democrats took control they set things in place that damn near doubled the price of fuel. However mega carriers are still getting substantial fuel discounts and lower insurance costs. The large brokerages are in on it and so are Pilot, TA, and Loves. The mega carriers are their biggest customer and they will all give whatever assistance they can in getting the slave class back into a truck making 50 cents a mile. 100,000 miles will get you $50,000 a year before taxes but that truck is actually generating a quarter milion a year easy.

[@jwoke]

💯

[@jthegreat3627]

🎯

[@jeramiekochlefl-bodner5965]

So the democrats are the reason russia invaded ukraine which led to sanctioning russian oil?

[@ecast1500]

U are spot on, except for one thing. Mega carriers are hurting because their customers are hurting and the customers are paying slowly or not paying at all. Bankruptcy are being filed. Biden economics. Never vote for a Democrat

[@79hashem]

Agree 100%

[@DanstevGraker]

Companies are getting a lot of pressure to cut costs as they are being called out on their excess profits coming in from other areas. One area they'll definitely look to accomplish this with is shipping. Contract rates will likely really suck this year, as I've mentioned before. They won't just be reduced to similar spot market rates, I expect they'll actually go lower as excess capacity underbids them in an attempt to chip away at the big firms. I think this RFQ season is going to be a real race to the bottom, egged on by the pressure shippers are applying to the industry. And, the reality of it is that even when the industry starts to bleed capacity, we're still probably not going to see a reduction in operating costs, which means the rates being demanded in the Contract market will quickly become unsustainable. Hopefully that means will see a rise in freight being tendered to the Spot market, but we have to survive, first. When this happens, we'll see the upswing in rates, presaging the next freight "cycle". So back to the same old, same old, eventually. I know everyone wants rates to be higher(well, not the shippers), but we really, really need to be looking at other costs, too. Fuel, equipment and insurance(Brokers are required to have this, too!) are off the chain. Fraud costs are blowing up, costing everyone time and money, and damaging an already strained industry. We need real action on these things.

[@nicureality1427]

The shipper can adjust the cost of goods depending how much is spending for shipping, but when 1-2$/mile increase on shipping a 45000lbs of goods, this is cents per item (let's say 3000miles get $1.5/m more for transportation, so instead of $2/m they spent $3.5/m, that is $4500 more, divide this on 45000lbs, this is 0.1$/lbs, this was just a simple exemple, so do u think 10c /lbs increase, affect the shipper cost so crazy or final customer, it's nothing...you may do also 4500$/22500lbs, so 20cents/lbs...depend of the goods, now go check how much the prices rises and ask yourself how is it possible that transportation cost went down, and didn't contribute to increase in the costs, and prices are 25-30% higher now in the store on many goods.😮

[@jackwallter2361]

Owner operator times are gone! Here in US we have 80% owner operators truck drivers from different countries! So what else to expect then low rates because nobody cares about them, same is in manufacturing jobs! Don't forget government needs low cost manpower to keep inflation down.

[@hassanwali2020]

BINGO!! I didn't think anyone would mention this X factor

[@MS-oz2wu]

News on CNBC 4-17-24, at aprox 11:50 am. J B Hunt stock just dropped 8.33 %, down $15.25. From $185 dn to 168. News says they have a lot of problems, diseal prices, etc.. Bizarre news, it says, JB Hunt is still struggling to get drivers. I can't figure this. It doesn't square up. How could they be having problems on one hand and at the sametime have problems getting drivers. If they are having problems with loads and at the sametime be short of drivers. I kinda get it, but geewis, the market is all screwed up...😊😅😮

[@TomGreen-gi3tl]

I understand about the going crazy part. I'm there with you. Frustration is common these days

[@CristoEsRey7]

There is a lot stealing going on in this business. Brokers are not transparent. They know you need to get home, they know you need diesel, insurance, tires, and they low ball the hell out of you. Don’t take cheap loads. The way we have been hanging on is by working together. I’ve adjusted the lease percentage to help out the lease operators so they can keep working. In total they end up paying 11-13 percent for leasing, factoring, and dispatching.

[@timothyhorton6352]

Tie frieght rates directly to the fuel price. $4.00gal fuel=$4.00mile rate.

[@jaminova_1969]

I paid $5.49 for diesel on 5/3 in CA.

[@timothyhorton6352]

@jaminova_1969 my suggestion would be to stop going to Cali. I stopped going in the early 2000s and haven't missed it. The cost of doing business out there is just stupid.

[@timothyhorton6352]

It's not just bad here, it's literally at a stand still.

[@jeffhertz2690]

Thanks for all the videos you put out. Hang in there!

[@smk4902]

Trucking is completely subservient to the retail industry. We have no power. That's why the deregulation was done in the 70s. The government protects the retailers not the truckers.

[@RLittle1]

Selling old trucks at $20k and allowing anyone to get a CDL and their own authority is a recipe for disaster. If DOT cracked down on inspecting these old, broke down trucks and taking them out of service, it would help. If it was more difficult to acquire and maintain a CDL, through testing and "check rides", it would create a much more professional driver force. But as long as crappy old trucks are still allowed to run the highways, and anyone can get a CDL, there will always be issues with freight rates. We don't see this problem in the airline industry... planes are routinely inspected and updated, and it is very difficult to get a pilots license and certification, and they have yearly check rides for competency. You can't buy any old airplane and get it running, take a 20 minute knowledge test and start your own airline hauling people around. But you can do it in trucking!

[@js4182]

You do not make any sense in regards to equipment. There is a major drop in production quality of the trucks. I know of 20 years old trucks that were proven to be as more reliable on the road than brand new ones that I only regret buying because they spent more time in dilership than on the road. If you can achieve something with less you do not spend more. I agree on the CDL part though.

[@RLittle1]

I wasn't talking about good old trucks... I'm talking about the ones with fenders falling off, smoking everywhere, more rust than paint, etc... you see these trucks a lot around Chicago and the NE. I agree the older trucks are sometimes better, as long as they are properly maintained.

[@jmh4ggg]

I drive an old "crappy" truck, and it's probably maintained better than 2 year old trucks with $3000 a month payments. Tires, brakes, steering linkage, lights, and hoses aren't hard to maintain when your payments are $0 and the parts aren't impossible to get to.

[@dannywitucki]

I see old ragged out trucks all the time. Shit leaking all over the ground. Air pissing from everywhere. Miss mismatched tire sizes. Outdated or no ifta stickers. And at least two non English speaking or reading mofos in it every time. Trailers with spray foam plugging holes. I’ve seen them look like a wet noodle because the side rails are so damaged. Shit shouldn’t be on the road. Yet somehow they are gonna get loaded after struggling to back up to a wide open dock. You know they rolled through the same scale houses you did. But you never see the getting worked over. I watched a chick get her elog reset with a phone call. Sitting at a shipper last light. Didn’t speak good english. But got that figured out. It really set me off.

[@davehughesfarm7983]

As a framer I say Hell No!

[@robertshort8456]

It's too many brokers. They make freight cheap!

[@rubber-duck]

Doesn't matter how bad it is, you have to be dedicated to being on time, trucking industry is the same as it was 70 yrs ago put your butt in the seat and drive, now days with all the truck stops it's actually better now, with all the rules and regulations makes it harder now

[@Bodderfly]

Hate to admit it but those of us left are the bag holders of this industry, we should’ve exited when we could still get something decent for our equipment. I don’t see any significant rebound happening for a long long time

[@erikhedrick2346]

Lol

[@jasonfloyd5626]

Too many O/O's still in the market hanging on for dear life. Long haul ahead before we see any changes.

[@RomanVarl]

Interesting thoughts, thank you!

[@rubenservin4039]

Great program as always

[@allhustlenoluck9925]

I am in ltl right now it is slow like winter season is to many drivers to spread the work trying to hold on but at this point I think it is smart to either go back to food delivery or haul fuel both always in demand regardless..

[@giorgiotribastone7070]

Sometimes I wonder if things will get better guess only time will tell. Fuel prices here in PA close 5 dollar's.

[@DanstevGraker]

I don't think fuel ever fell back down to pre-pandemic levels and it's already back on the upswing. Seems like the industry always has an excuse or two as to why they need to keep increasing fuel/oil prices.

[@giorgiotribastone7070]

@@DanstevGrakerYes I have to agree why not sure I want be owner operator unless things improve.

[@Bodderfly]

It’s not even issue of better but we’re down so bad how much better can we even realistically expect, $2/mile would be a lot better for a significant portion of the markets and that’s still junk

[@nicureality1427]

Higher prices means also higher taxes, where the taxes go?-right, to ...There were a time when Gov send to peoe free money, now they are collecting back, so 2 serious wars in Europe has to be fulfilled with ammunition...until the war won't stop, we may not see the clean sky soon.

[@johnnyleon9218]

Thanks for your insights. 😮‍💨

[@B0RN2RACE100]

We’re not in a pickle. Their shoving a pickle in us O/Os. The way I see it is. As soon an drivers are in demand and we have any bargaining power, they’ll just flood the marked with inexperienced drivers, it doesn’t matter if their career is 3-6months long. It’s long enough to lower the rates and keep them low.

[@lorenzoashbourne5443]

I agree with alot of these comments, there are a lot of desperate carriers that dont understand that at some point they cannot survive at these rates. We should all have a day where we do not run any loads. Really stick it to the shippers and brokers

[@tsocity213]

HEY THANK YOU SO MUCH!!! Leeeettttysssssssss goooooooooo!!!!!!!!!🎉🎉🎉🎉🎉.things just suck😢

[@maxrp1]

The Trucking Co. I work at is selling tractors and trailers and has a hiring freeze.Yikes

[@Homlander001]

Am going to start truck dispatching company. Is it right to start dispatching company in 2024? And what is the best advice for me according to your experience?​

[@maxrp1]

@@Homlander001 rots of ruk

[@Americannationalmovers]

I'm in the household goods industry, noticed that it's also consumer behavior. The moving industry is a shady business and consumers are going with other options besides hiring a mover. Hidden fees, hostage moves, uneducated movers, high rates, the list goes on. To top it off the economy is still in shambles and its going to take a while before things get better

[@chsmithins]

The US economy isn’t anywhere near “shambles”. The US economy continues to show great growth and again this year will outdo any of the comparable countries in the world. The trucking industry is an outlier.

[@dailyshenanigans829]

Where tf do you live? Everyone I know in every industry is struggling to keep their head above water, it's not just trucking. ​@@chsmithins

[@younglife6877]

Yes because you movers are actually insane in your pricing. Renting a uhual and hauling yourself coast to coast for the high high thousands. We were quoted $30,000 to move 4 bedroom worth of stuff from Chicago, IL to Northeast. Then once the trailer is loaded said moving company sells it as power only on DAT for fraction of price. Ends up keeping like $15k to their pocket. After gettung multiple quotes cheapest i was able to get was $16,000 for 1500. Absolutely crazy. Ofcourse I'd never use your ridiculous moving services. Ripp offs.

[@randyhubert5506]

I've been keeping my eyes on the train Freight yards. They are expanding all of them it seems. It appears there is a increase in intermodle. Do you think there might be a move to eliminate over the road, or greatly reduce it.?

[@ernestcotton9324]

The balance for private carriers, some companies have their own fleet and some things have been sent by fed-ex or amazon to handle the excess that outside carriers could usually get

[@Homlander001]

Am going to start truck dispatching company. Is it right to start dispatching company in 2024? And what is the best advice for me according to your experience?​

[@soflodoug]

I play air guitar at the opening song🥳

[@TruckingMadeSuccessful]

😄

[@thedevilandhertrumpets4268]

I muted it until it’s over lol

[@Shawnthejan]

Just to add… have worked for FedEx for years with no issue but since January, I am barely getting any loads. 😢

[@paulkalbermatter8307]

The first words that came out of my mouth after watching my first video were, "I love you!". ❤ One solution could possibly be to regulate how many authorities are issued per year. I try really hard to pay attention but you're so damn good looking. 😊 Thank you, Miranda. ; )

[@smk4902]

I hear that in Europe, there is a minimum per mile they have to pay the truckers.

[@PointsOnly]

I've noticed the same thing with Uber eats the past year. Rates have gone down, fees for customers up, and now every time i see a driver, they dont speak english and are from every country in the world. They take low paying orders because they dont know any better or just desperate. Uber has no incentive to higher the rates because people are taking them. Luckily, trucking has a higher entry barrier. Due to social media everyone wants to get into trucking.

[@MilanaEsu]

I'm an insurance broker, and trucker insurance is double the premiums. and most of the single owner operators are having a lot of problems trying to stay in business

[@armandoreyes2750]

I hate to say it but everyone needs to prepare for hard times. We haven't seen anything. The holiday seasons aren't going to save us.

[@davehughesfarm7983]

If ya aint got a acre or 2 away from the cities..What do ya really have?

[@Homlander001]

Am going to start truck dispatching company. Is it right to start dispatching company in 2024? And what is the best advice for me according to your experience?​

[@armandoreyes2750]

@@Homlander001 I won't even attempt to give anyone any advice. I am a company driver and I like it that way because it's less work and less responsibility.

[@RandyWoolard-e9h]

My truck is paid for and has been parked in my yard since last year because I couldn't make any money because of cheap freight. The people with payments are hauling freight for nothing!

[@deanhibbert3240]

Hello Ms Miranda 🎉blessing

[@321Fire.]

I own a truck and its just siting was on a company should i start my on inc. or just wait to see how it goes? im making 1500-2k weekly as company driver currently without the stress 😩

[@jowaragosogo4828]

You will make less than a company driver. $2.00 a mile and less is the going rate right now. Fuel will take up 0.80cts per mile, and maintenance is over 0.80cts per mile. That is $1.60 out of your $2.00 per mile rate. Deduct food and hospital bills from 0.40cts remainder, and you are in deep trouble. Drive a taxi instead. Taxi pays $2.00 a mile, and you get to go home and rest in a bed every day.

[@TheTruckstopTraveler]

Corporations are experiencing record profits tho. So why are they so tight on monet? TOO PLEASE SHAREHOLDERS

[@ronsmith4968]

I wonder if the increase in operators jumping in is actually physical capacity or could it be that authorities were back logged and approvals just came through ?!?! Maybe they were anticipating a market turn in '24,and decided to file for authority in '23. I don't know,just my scenerio ! Hey Miranda..

[@MahanMehr-g5s]

Thank you 🙏🏼

[@mgfiff1700]

Where can we find historical data on the amount of CDL programs / trade schools? It seems to me there is a boom in low quality CDL programs. I'm curious as to how this contributes to the "pickle".

[@robertgray6631]

That’s not the reasons freight volumes and rates are down. It’s supply and demand as usual. After breaking trade agreements and starting trade wars is the why! You can’t go from supplying the world to just homeland. There’s no such thing as a bad or good economy. You either do what’s needed or not. This country and the world has the same amount of money and people. It’s just who has the money. Which is the 1%. No business, farmer or producer of anything make and survive from 1% customer base. If all of the states accept and utilize the money for infrastructure and Medicaid expansion. Every business and industry would benefit greatly from it!

[@mannsolo6294]

After 12 years of up and down in the owner operator space I gave it Up 3 months ago. I'm just sick of that shit. Went back to company driving it's just so much less stressful. When you're an owner operator you only really make money on paper. Unless you have a business degree and you're a high school graduate or Dropout don't do it. Sure you can make 100 to 200,000 a year but the problem is you won't be able to keep it and you'll end up bankrupt.

[@billkoval9457]

A old timer told me that it's easy to make money, the hard part was keeping it.

[@mannsolo6294]

@@billkoval9457 exactly right

[@mannsolo6294]

@@kaysav1253 how long have you been driving trucks or owner operating? And yes I am speaking for myself and about 50,000 other drivers owner operators and companies who either went bankrupt or out of business this year. (Like a little company called Yellow)... But I guess you know everything and you're some kind of industry genius right Kaysav? You're probably some newbie in the industry and you think you know everything. Time will tell. So keep laughing.....

[@mannsolo6294]

@@kaysav1253 who told you I had a spending problem? You assume that and you know what people say about those who assume right? You assume a lot because I never said anything about most owner operators. I made it very clear about who I thought would make it as an owner operator in this industry. Instead of being a trolling jackass why don't you try to understand where I'm coming from and the caution I'm giving to other drivers who may not be equipped to deal with the real life business side of this industry. Let me rewind back to the part where you said I didn't make any money that couldn't be any further from the truth. On paper I've made Millions..... if you had half a brain in your head and have been an owner operator for the past 10 years you'd know that anyone who was an owner-operator for as long as you have what kind of money they probably made. It's simple math. You were in the trucking industry for 2 years before you became an owner operator. I was a company driver longer than you've been driving trucks in total before I became an owner operator so believe me I know what I'm talking about.

[@abrahampshat8095]

Trying to keep expenses low - your question has an answer, we need to regulate the logistics industry there’s no choice mega carriers are monopolizing the system they are also brokers - small and medium carriers will go out of business!

[@albertwhite6812]

There is no Perspective at all, do not expext that this year, and the next year as well. Again most shippers moving to railway logistics, transportation will be slower but 10 times cheaper then using trucks. Even if 1000 carriers will close their doors daily, this year you will not see a good market, just be sure and make your plans 👋

[@MrFahrenheit99]

Thank you

[@UnratedMadness]

Bonds are going down, so since bond markets have something directly to do with financing, it will both decrease capacity and financing abilities for companies of all kinds.

[@demonspeed7353]

It's the depressed economy. Once things pick up spending will rise, so will demand for transportation of goods. Vote red in 2024 if you want to thrive again.

[@joshuaroe3021]

It's not about carriers individually it's about drivers. I came up in the last two years as a company guy, and they keep hiring.. And hiring etc etc

[@georgepristouris4149]

Canadian companies are doing state to state. I don’t think your stats show that

[@sword-and-shield]

Thx for the stats.

[@reginaldgates3352]

To sum it up..the industry compensation model is outdated...and does not match inflation..rate per mile should be the same as the price of fuel per gallon..or a minimum flat rate per mile..as in minimum wages...no one ever say let's strike for a minimum per mile rate..makes no sense..

[@CantrellMosley1]

Crazy thing is carriers will just continue to run no matter how much they are being screwed

[@kentharrisgeorgia]

I have worked for the following in the past year: 1. Southeastern Freight 2. Yellow Trucking 3. SAIA Trucking 4. UPS 5. Ryder/GM Trucking sucks!!!

[@teamginate3400]

I know our rates went down 10-20 cents per mile from last years numbers doing the same lanes.

[@eddieagostini450]

You missed the main FACT: Maybe you missed it on purpose because it is taboo to say this. But as immigrant myself, i am not afraid to say this: TO MANY ILEGAL IMMIGRANTS GIVEN COMMERCIAL DRIVER'S LICENSEs AND BECOMING OWNER OPERATORS. That is why the supply of trucks is so much larger than the demmand of loads at this moment.

[@blairm9000]

Wonder if the load capacity will shift away from warehouses to ltl lanes?

[@darylb5564]

We may be making this a little harder than it needs to be. Put a chart of the Fed funds rate over top of that load supply chart. You should see a correlation. When the cost of capital goes up people buy fewer things. For instance… I’d like to buy a new car. If the interest rate was at 2019 levels I would already have it but now that the rate is double I feel no sense of urgency. Well guess what… neither does anyone else. Fed Chair Powell made an announcement today that interest rates are coming down no time soon. That’s not going to get people in a big hurry to go buy. I will offer one little bit of sunshine. Like the last Fed Chair he’s wrong more than he’s right. Keep your fingers crossed

[@johnathantwinz810]

Need a president that will fight for us

[@robertjeffery6100]

Lots of large truck companies have folded along with small companies

[@Jose-gq8wc]

And wait for it, the summer is usually a slow time. So are we having fun yet 😂

[@younglife6877]

Summer is usually a boom...

[@singhtivityy9806]

For now I am picking up a job with trucking company. However, in future I would like to purchase my own truck. Do you think it’s going to get better? Not this year but one day?

[@foxf6]

Yes. It all will get better. This happens n this industry

[@davezman2295]

Biden

[@trucktruck588]

Got Dizzy. Carriers Don't Need Independent Contractors. Carriers Have More Than Enough Equipment.

[@Elmucaroarrebatao]

Flatbed average rates in 2014 were around $2.30. Inflation increased in 10 years is around 35%. So if you are getting a load that pays $2.50 today subtract 35% You really are getting paid $1.62 per mile. If you live in a mayor city or the suburbs, you are in debt. Why I can’t adjust my price to $3.37 per mile to upset inflation like the rest of businesses? Because trucking is the only idiotic business where who ever is paying for shipping, negotiate the price with someone else that isn’t the owner of the business(brokers). And since the broker doesn’t care at all about my loss and profit statement(main key in determining the price calculation) the price is created by the whims of everyone except the person that bought the property so to transport the cargo. Wait!!!! I forgot one other point so to nail how stupid is this business. Carmack amendment stipulates that the carrier takes ownership of the cargo once inside the trailer(my insurance coverage). So I even have more accountability for the cargo than the buyer(by credit) in the transportation process. And when I do my job the brokerage gets all the credit? No one remembers Highway Blues Transport and the owner operator, but the salesperson working as a broker. Who the hell needs dignity? Is overrated…. If I would have known about the mayor school of economics and the arguments about the calculation problem and price theory(the reason why socialism doesn’t work, centralized price controls) I’ve never get into trucking. Supply and demand doesn’t tell you anything about price controls and the regulations that give a false signal about supply and demand, and prices. So literally brokers are doing exactly what communism does, they set prices(centralized with minions). So no matter if there are more than 30,000 freight brokers, they are all operating in the same tyrannical system, not letting the owners of the property to really negotiate prices. That’s the true definition of free markets. The owners are the ones responsible for negotiating their subjective and objective calculations for prices.

[@fbh31118]

We need to, as an industry, reject poor rates and start parking equipment in defiance of ever decreasing rates. As I've said before, we cannot move forward @ 34 Trillion in national debt. Don't count on any major market changes until after the presidential election. We may at least see some stability at that point. Just my opinion. 🤷

[@level80888]

last trip I stuck for 5hr in Wy and later 12hr in Ne.

[@fr8law]

I feel that there are small carriers that will stay in the business because they have their operations set up for cost effectiveness and are willing to make small money now on the hopes that rates rise next year. Then there are the carriers that are not running their businesses well, and despite having hope it may just be a slow bleed until they run out of capital and cash flow. Finally, there are the rogue carriers that run their operations with men that work for minimum wage; some of the trucks are likely not insured, or maintained, saving the rogue carrier thousands each month. Trucking becomes again a decent middle class occupation once the rogue companies and drivers are out of the market, and once capacity normalizes with the attrition of carriers that run inefficient businesses. This purge is likely to take some time, insofar as a lot of carriers are hanging on, and the rogue companies, like shoplifters, know there are no real penalties for breaking the law.

[@gogatruckingincado842]

In other words your video is all about who will leave the industry- the more companies exit the better it is for you and the other companies who decide to ride the vavew?