Swift Problems???

[Solo]

I've heard a rumor that Swift is having problems meeting their driver payroll. I stress that this is a rumor I have heard. I am not trying to spread it, just trying to get some verification. If Swift is having problems, what is going to happen to the other companies, especially the smaller ones? Anyone have any hard facts about this? If true, it's disturbing.

[Uturn2001]

For the past several months there has been all sort of rumors going around about Swift being in financial trouble, along with a few of the other mega carriers.

[Jumbo]

What did I hear today: Swift is going under, TMC bought Maverick, Schneider bought J.B. Hunt and Prime sucks.

[BigDiesel]

If you heard it on the CB or at the lunch counter it must be the gospel truth.

[Evinrude]

[quote="Solo"]I've heard a rumor that Swift is having problems meeting their driver payroll. I stress that this is a rumor I have heard.



That's hard to believe, because what they pay there drivers is the one of lowest in the trucking industry and some of there lease ops are paying the company to drive.

But it would be great to see this bottom feeding company go under and the freight go to a better paying companies with better company policies.

I bet there CEO is still getting his pay?

[beeiatch]

[quote="Evinrude"]

I've heard a rumor that Swift is having problems meeting their driver payroll. I stress that this is a rumor I have heard.



That's hard to believe, because what they pay there drivers is the one of lowest in the trucking industry and some of there lease ops are paying the company to drive.

But it would be great to see this bottom feeding company go under and the freight go to a better paying companies with better company policies.

I bet there CEO is still getting his pay?

Right

[oldcodger]

So you want Swift to go under and there business taken by some other company that pays better and has better policies?
OK. Name me a few of the other bottom feeders who could actually do this. OK. Name me just one.

That statement has to be one of the most asinine, dumb, moronic statements that I have seen on this site.

You want to put 20,000 plus people out on the street? From the cooks at the Jake Brake in Phoenix, to the mechanics in Memphis?

Oh yeh, but you'll say they could be hired by Bottom Feeder Mega Carrier to work for them. Sure.

And if they are able to land a job with the BFMC it will be for what the BFMC will thow at em. Crumbs. "Your lucky to have this deal, cause I can hire somebody else for even LESS than we're paying you"

You think 30 to 40 cpm is tough now? If they go under, guys will be fighting for 20 to 25 cpm jobs. Because all the other bottom feeders will say.

TAKE IT or LEAVE IT.

And I did drive for Swift and I have nothing but kind words for those hard working men and women who still do.

Codger

[enobeenob]

So you want Swift to go under and there business taken by some other company that pays better and has better policies?
OK. Name me a few of the other bottom feeders who could actually do this. OK. Name me just one.

That statement has to be one of the most asinine, dumb, moronic statements that I have seen on this site.

You want to put 20,000 plus people out on the street? From the cooks at the Jake Brake in Phoenix, to the mechanics in Memphis?

Oh yeh, but you'll say they could be hired by Bottom Feeder Mega Carrier to work for them. Sure.

And if they are able to land a job with the BFMC it will be for what the BFMC will thow at em. Crumbs. "Your lucky to have this deal, cause I can hire somebody else for even LESS than we're paying you"

You think 30 to 40 cpm is tough now? If they go under, guys will be fighting for 20 to 25 cpm jobs. Because all the other bottom feeders will say.

TAKE IT or LEAVE IT.

And I did drive for Swift and I have nothing but kind words for those hard working men and women who still do.

Codger

Yep, there will always be haters out there.

[Evinrude]

So you want Swift to go under and there business taken by some other company that pays better and has better policies?
OK. Name me a few of the other bottom feeders who could actually do this. OK. Name me just one.

That statement has to be one of the most asinine, dumb, moronic statements that I have seen on this site.

You want to put 20,000 plus people out on the street? From the cooks at the Jake Brake in Phoenix, to the mechanics in Memphis?

Oh yeh, but you'll say they could be hired by Bottom Feeder Mega Carrier to work for them. Sure.

And if they are able to land a job with the BFMC it will be for what the BFMC will thow at em. Crumbs. "Your lucky to have this deal, cause I can hire somebody else for even LESS than we're paying you"

You think 30 to 40 cpm is tough now? If they go under, guys will be fighting for 20 to 25 cpm jobs. Because all the other bottom feeders will say.



Codger

No they will be fighting for 40 cpm plus....


lol Keep driving for swift ya lo$er......

[ben45750]

You might want to read the entire post before you start the Troll tactics. oldcodger said that he "did" drive for Swift and that he has respect for the drivers who currently "do" still drive for Swift.

So how can oldcodger be a "lo$er" driving for Swift if he doesn't drive for Swift?

[Evinrude]

You might want to read the entire post before you start the Troll tactics. oldcodger said that he "did" drive for Swift and that he has respect for the drivers who currently "do" still drive for Swift.

So how can oldcodger be a "lo$er" driving for Swift if he doesn't drive for Swift?

Good point....But I still can't see why he thinks that if swift and other bottom feeder maga carries would go under that drivers would make less,
but the truth is less competition means more profit.

[oldcodger]

Now, that statement is absolutely correct.

"less competition means more profit"

[YoungZ.W.]

[

quote]Good point....But I still can't see why he thinks that if swift and other bottom feeder maga carries would go under that drivers would make less,
but the truth is less competition means more profit.

Well I'll explain it to ya. Lets say that McDonalds is the only fast food restaurant. They could charge $10.00 for a big mac and still only pay their employees min. wage. Its less competition, their making a bigger profit but the employees aren't gaining anything from it. If Swift for some reason did go under that would flood the commerical drivers market with some 15,000 drivers. If their willing to drive for 26 cpm now do you think that will make other companies want to offer them 40 cpm to go with them knowing that they could get away with doing it for 26 cpm? Lets get rid of K-mart, Target and the others and just keep Wal-Mart so that way those guys won't have to get paid min. wage. Less competition so more money for that cashier.They'll get $50,000+, 401K, no cost medical insurance, etc.

[oldcodger]

I hit the wrong key.

By saying that less competition means more profit, it will simply mean that the BFMC's will put more money in the shareholders or owners pockets and will continue to pay chump change wages to the company drivers, lease operators, or owner-operators.

If people say it will be the law of supply and demand, unfortunitely the carriers that would be left standing will still be fighting over the same freight on the same lanes and will use any and all cut-throat tactics to steal any loads to increase there business and brag to new and existing customers what a great truckline they operate and blah- blah-blah.

And the drivers will still be holding the dirty end of the stick.

Codger

[dle]

Don't you just love economic theory?

My guess is that once a mega-carrier goes under completely this is what could happen:

A major glut of drivers on the market would occur. A portion of the drivers would be hired to replace existing non-performs and to fill new positions. Then after a period of time the market would stabilize with high standards required for drivers. If the glut occurs for more than a year this would affect truck driving schools, possibly causing secondary closures in that industry.

There would be a glut of mechanics. Maybe not as promounced or publicized. But, with the same basic results as with the driver.

The other major positions at the company would also cause the same rippling affect, Dispatchers, Safety, Training, Load Planners.

How much is the portion that would be absorbed into other companies is hard to say. It would depend on great part on how many trucks, loads, etc would be available. Yes, the other trucking companies will absorb some of the customer base of the failed company. Another possibility is that a minor few of them will develop there own transportation departmetns.

I do not have enough understanding of how the price of loads are determined to even begin trying to speculate on what would happen there. Since the price of loads is related to the price paid to the drivers, sorry you have to fix the first one first.

In the short term (1-2 years) there would be great chaos on how much freight is moved, how many drivers would be employed or employable. There would also be far ranging affects into secondary industries such as Diesel and Trailer Mechanics, Transportation Safety and Transportation Marketing. This would also affect the training and support industries for those as well.

After 3 years, things should begin to stabilize.

Again this is my guess as to what would happen.