Quote:
Originally Posted by Orangetxguy
My nephew Anthony, made commison's of $10,800 in January, $7,900 in February, and $9,300 in march...he works in the realty/mortgage trade. They are still making mortgage loans. They simply are not loaning out money, to people whom have a poor credit history, like they used to (one part of the reason we are in the mess the country is in).
That is absolutely incorrect. This is a global credit crisis that is estimated at 1 TRILLION dollars! The balance sheets of many banks across the country are weighed down by billions of dollars worth of loans that are now worthless. So the banks right now have slowed lending down to a crawl...simply because they have to get cash infusions, bailouts, etc in order to fix their balance sheets.
Thus, even people with good credit are having problems getting loans. In addition, cities are having problems floating bonds to finance infrastructure projects.
Quote:
Originally Posted by K9
Arrow has plenty of miles. Residential freight? What?? We haul a LOT of different things ... from hay and Peat Moss to steel, pipes (lots of pipes), and aluminum rods.
Yes, and what are pipes, rods, and steel used for? Building things. What has slowed down ? Building permits. Just read any home builder, real estate, etc annual report. All of them are in the toilet. And pulling hay LOL?!?! I see Arrow is hauling all that high-dollar freight! :lol: :lol:
This quote comes straight from Bob Costello, head economist with the ATA:
Costello was part of the “All Eyes on the Economy" panel on Monday, Oct. 30, hosted by David Faber, CNBC anchor and author of The Faber Report. "Freight tonnage has been flat this year,” Costello said. "The flatbed segment had been the star before the housing decline, but now it is not as strong, and part of that is due to the slowdown of construction materials for new housing starts.”
My opinion stands: avoid flatbed until the construction markets turn around and the credit markets stabilize.