This is a good time to buy a truck and go into busness

[Sonny Pruitt]

Looks that way to me
Don't worry about the fuel
Things will work themselves out

[allan5oh]

If your company has contracts with many regular customers, you'll probably be fine.

If you get better fuel mileage then the fuel surcharge is based on, then you'll do fine.

If your cost is below the industry average, you'll definitely do fine.

Customers *always* need freight moved.

[Dispatch_This]

Here's some interesting stats regarding new MC authority applications I found posted elsewhere.

---------------------------------------------------------------------------------------

175 new MC applications were posted for public comment.

126 new applicants were dismissed for failing to meet insurance requirements within the required 30 days.

This would indicate that for every 3.6 new applicants, only 1 is eventually granted authority.

439 Notices of Revocation were issued, 261 Discontinuance of Revocation notices were issued.

The most common reason for an NOR being issued is when a carrier allows their insurance to lapse. If the carrier reinstates their insurance within 30 days, a DOR is issued. IMO, these carriers are playing the 30 day grace period trying to scrape up enough cash to keep their insurance from lapsing. 178 carriers didn't make it.

45 carriers filed for Voluntary Revocation.
61 carriers were granted reinstatements.

And this was only for ONE day, folks.

[nsxman2001]

Here's some interesting stats regarding new MC authority applications I found posted elsewhere.

---------------------------------------------------------------------------------------

175 new MC applications were posted for public comment.

126 new applicants were dismissed for failing to meet insurance requirements within the required 30 days.

This would indicate that for every 3.6 new applicants, only 1 is eventually granted authority.

439 Notices of Revocation were issued, 261 Discontinuance of Revocation notices were issued.

The most common reason for an NOR being issued is when a carrier allows their insurance to lapse. If the carrier reinstates their insurance within 30 days, a DOR is issued. IMO, these carriers are playing the 30 day grace period trying to scrape up enough cash to keep their insurance from lapsing. 178 carriers didn't make it.

45 carriers filed for Voluntary Revocation.
61 carriers were granted reinstatements.

And this was only for ONE day, folks.

Well we all know that with the right information everyone can make a sound decision..Education and knowledge have to be cheaper then ignorance....

Good luck!

[GMAN]

There is never an ideal time to go into business. There are always challenges to overcome. New businesses have always had a high failure rate. This industry is not exception. This is not a good time to get into the business if you don't have any money set aside. You must have sufficient resources to get through the difficult times. We are heading into a slow time of year with record high fuel prices. If you refuse to haul the cheap loads, watch your money and take care of business, you can still do well. If you make it through the slow times then you have a good chance to become successful. During this time, there will be a lot of repossessions. That means that you should be able to get a good deal on a truck. There have always been those who have done well during difficult times. It is probably not the best time for someone without much experience or money to do well. But then that could be said at any time.

[heavyhaulerss]

oil prices will hit 100.00 a barrel in the near future. heating cost for the home will rise 10 % over last year. while in trucking & while doing well in the good times make some smart investment decisions to hedge your bets. a lot of folks get into trucking when things are going well. that in my opinion is a 2 edged sword. while it is good if your doing well & making money. if gives a false sense of security that is will not end & soon folks start spending money like it's never going to sop coming in. i got in with a inexpensive truck & ran my business like it was going to end that week. after almost 9 years i have 8 homes bought buy the trucking bisiness to help me thru any slow times. still in my ole 95 walmart cabover over a mil mi's & still going strong. live below your means. dont have champagne taste on a beer budget.

[heavyhaulerss]

i will also like to say that i am almost sure that men like g- man has come across more poeple than he can count, that mentioned how at one time they had a old dependable "PAID FOR" truck & how they could not resist buying something that they could not afford & they regret having got rid of their old truck. most will say theree was nothing wrong with my old truck, i dont know why i got rid of it??? that's a story i hear a lot. dont feel ashamed or insecure at looking at other drivers in 100 thou dollar trucks & listening to them on their big radios.

[nsxman2001]

oil prices will hit 100.00 a barrel in the near future. heating cost for the home will rise 10 % over last year. while in trucking & while doing well in the good times make some smart investment decisions to hedge your bets. a lot of folks get into trucking when things are going well. that in my opinion is a 2 edged sword. while it is good if your doing well & making money. if gives a false sense of security that is will not end & soon folks start spending money like it's never going to sop coming in. i got in with a inexpensive truck & ran my business like it was going to end that week. after almost 9 years i have 8 homes bought buy the trucking bisiness to help me thru any slow times. still in my ole 95 walmart cabover over a mil mi's & still going strong. live below your means. dont have champagne taste on a beer budget.

This Is Great advice..

[allan5oh]

live below your means. dont have champagne taste on a beer budget.

Best piece of advice ever on CAD.

[Orange Andy]

I dont like seeing all the hedge fund money pouring into commodities recently, and leaving the equity markets. That shows widespread pessimism in corp. earnings, but the bright side is it shows optimism that the downturn will be 12 months or less. Apparently, they think demand will stay high enough to justify the futures prices.

Today marked the 20th anniversary of the day the markets shed 31% of their value. Dont think we are headed for a repeat of that, but fund managers are buying gold and the symbol USO aggressively.

http://chart.finance.yahoo.com/c/6m/u/uso

We are in an economic downturn for sure, but will be ok, and the ones that prepare and brace for it will do just fine. Winter will come and go, and so will this.

[GMAN]

i will also like to say that i am almost sure that men like g- man has come across more poeple than he can count, that mentioned how at one time they had a old dependable "PAID FOR" truck & how they could not resist buying something that they could not afford & they regret having got rid of their old truck. most will say theree was nothing wrong with my old truck, i dont know why i got rid of it??? that's a story i hear a lot. dont feel ashamed or insecure at looking at other drivers in 100 thou dollar trucks & listening to them on their big radios.

I have heard this a lot over the years, heavyhaulerss. When your equipment is paid for you can weather a lot of bad storms. When the economy slows, you have little in reserves and high equipment payments or other debt, it is difficult to make ends meet. On the other hand, if you have low debt you don't need as much money to survive. Besides, when you have cash in your pocket, you can often get a good buy during economic down times. Those with high debt and low income will need to get out from under their heavy debt load. It is a great view looking at all the big shiny new trucks from my paid for truck. :wink:

[Mountain Flyer]

It is a great view looking at all the big shiny new trucks from my paid for truck. Wink

Amen to that, Gman... 8) Mine ain't paid for, but its payments aren't what those 100,000 dollar PLUS trucks are.

Now if we could just put a hammer on the Flying J fuel manager who has raised the fuel every day this week........ :sad: