We are living in challenging times for the transportation industry. Some have given up their authority to lease to larger carriers. Others have left their carriers to get their authority. Still others have either parked their trucks and become company drivers or gotten out of the business all together.
Being in business has always involved making changes or adjustments based upon what is taking place in the marketplace. This last year we have seen record numbers of owner operators and carriers going out of business either by choice or from what is going on in the market. We are likely to see more going out this year.
I find it interesting that there are still so many who are trying to become an owner operator in this environment. On the other hand, if someone is flush with cash or has very low debt this could be a good time to make the change.
I think it would be interesting to hear how others are making adjustments to survive in this economy.