Trucking Employment Is Contracting The Fastest On Record This Century
Topic 33644 | Page 5
The cheaper LTL companies got most of Yellow's freight. The cheaper companies being Estes and R&L.
The only freight picked up by FedEx and Old Dominion was freight being shipped from/to places the cheaper company networks can't reach.
LTL:
Less Than Truckload
Refers to carriers that make a lot of smaller pickups and deliveries for multiple customers as opposed to hauling one big load of freight for one customer. This type of hauling is normally done by companies with terminals scattered throughout the country where freight is sorted before being moved on to its destination.
LTL carriers include:
- FedEx Freight
- Con-way
- YRC Freight
- UPS
- Old Dominion
- Estes
- Yellow-Roadway
- ABF Freight
- R+L Carrier
Yeah, OD and FedEx won't run freight for what R&L, Central or Estes will. I've heard that Yellow's rates where so low for some freight, not even those companies could match it.
I was hoping we would pick up more than we did which was very little. At least at my terminal , they said out east picked up a little more.
Terminal:
A facility where trucking companies operate out of, or their "home base" if you will. A lot of major companies have multiple terminals around the country which usually consist of the main office building, a drop lot for trailers, and sometimes a repair shop and wash facilities.
HOS:
Hours Of Service
HOS refers to the logbook hours of service regulations.
To understand the current circumstances, you must appreciate the once-in-a-generation events that somehow just keep happening.
I am loving this forum. There are folks with a masters in Economics that could not have written what Brett wrote.
I had an interesting “sign of the times” load yesterday. Took a regular customer load from Cincinnati to Columbus with a 5am dispatch. Got empty around 8 and sat waiting for almost 2 hours for a dispatch. When it came it was to go empty back to Cincinnati for a pick up that delivered 7 miles away. Glad I get paid by the hour.
I'm running between 3500 to 4000 each week average since I started with Versatile on 15 September. I've actually changed my driving MO of the past seven years from driving recaps to driving out my clock for 34 hour resets every eighth day.
I previously tried at PTL for five months, and my weekly average there was meager at 2100 to 2300 miles per week no matter if it were resets or recaps I tried. Their maintenance group was fantastic, but that's the only plus I experienced there.
I'm making double the money and miles here, and that's 57 CPM now compared with 65 CPM at PTL. The single largest difference? We actually have more freight loads than we have drivers to move it. With all the miles I'm doing, I'm not even in the Top 25 of our 95 drivers for miles!
CPM:
Cents Per Mile
Drivers are often paid by the mile and it's given in cents per mile, or cpm.
Not sure what is driving the recent set of Ring messages from CEO, but our outfit's benefits are contracting effective Jan 1.
401(k) match going away. Guaranteed 40hr pay if three days are worked going away. Picking up the tax on the $50/night road life per diem. $50 weekly safety bonus. No guaranteed overtime (THAT is a benefit I was not aware of, and suspect it is something grandfathered in for local drivers).
The last two are not huge, but the top one is effectively a 6% pay cut - they did a 6% match, and all of my money was Roth. Being over that certain age, that one is kinda stout.
Not sure how to react to this stuff. She has a company meeting scheduled late January, I'll withhold judgement until then in the event that I may have missed something or misinterpreted the message.
Per Diem:
Getting paid per diem means getting a portion of your salary paid to you without taxes taken out. It's technically classified as a meal and expense reimbursement.
Truck drivers and others who travel for a living get large tax deductions for meal expenses. The Government set up per diem pay as a way to reimburse some of the taxes you pay with each paycheck instead of making you wait until tax filing season.
Getting per diem pay means a driver will get a larger paycheck each week but a smaller tax return at tax time.
We have a ton of information on our wiki page on per diem pay
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I talked to a P&D driver out of the Omaha NE terminal for R&L carriers today. He mentioned they're breaking records and busier than ever. Maybe they got a ton of Yellow freight.
Terminal:
A facility where trucking companies operate out of, or their "home base" if you will. A lot of major companies have multiple terminals around the country which usually consist of the main office building, a drop lot for trailers, and sometimes a repair shop and wash facilities.
LTL:
Less Than Truckload
Refers to carriers that make a lot of smaller pickups and deliveries for multiple customers as opposed to hauling one big load of freight for one customer. This type of hauling is normally done by companies with terminals scattered throughout the country where freight is sorted before being moved on to its destination.
LTL carriers include:
P&D:
Pickup & Delivery
Local drivers that stay around their area, usually within 100 mile radius of a terminal, picking up and delivering loads.
LTL (Less Than Truckload) carriers for instance will have Linehaul drivers and P&D drivers. The P&D drivers will deliver loads locally from the terminal and pick up loads returning to the terminal. Linehaul drivers will then run truckloads from terminal to terminal.