Plus, a Chicago-based freight broker boasts about making $215k in one day, Lineage Logistics hits it big with an $18 billion IPO, the latest on the Ocean's 11-style freight heist, and more.
We took the opportunity to ask our Instagram followers about their best days as freight brokers. Here are some of their responses...
Heartland Express, Covenant Logistics, and Knight-Swift Q2 earnings show mixed results, debt reduction, and market stabilization signs.
Truck prices have seen a significant drop recently, with three-year-old trucks losing an average of $10,000 in May alone. A truck worth $140,000 about a year ago is now valued at only $77,000. This has caused those who financed these trucks with no down payment at a 6% interest rate to be $33,000 in debt above the value of their trucks.
Yikes! 3 year old truck prices fall another $10,000 on average in May. A $140,000 truck 14 months ago, is now worth $77,000. Almost half its value. Meaning all those loans that were taken out with $0 down 6% interest on a $140,000 Semi are now $33,000 underwater. Time to buy? pic.twitter.com/UDXZmPPHoX
— Tanner DeHart (@TannerDeHartFW) June 27, 2023
A truck carrying flammable chemicals crashed and exploded on Route 3 in Clifton, NJ, killing the driver and forcing evacuations.
Q2 sees slower rate of trucking business exits, but market remains challenging. Here are the latest industry data and expert insights.
Driver wages remain the largest expense. Safety bonuses ($1,831 average) surpassed starting bonuses for the first time.
We are currently getting insider information from a freight broker who is dealing with this situation.
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