Jan 24, 2020 • Carriers

Industry Update - January 24, 2020

Industry Update - January 24, 2020

By Paul DeCoste

Industry Update

Curious about the top issues discussed in the trucking industry in 2019? Take a look at this graphic from the ATRI Top Industry Issues 2019 survey.

Weather Update

This snowstorm has been building up over the past few days and drivers need to be aware of some potential snowfall in the Midwest. The following locations should be driven on with caution for the weekend; Milwaukee and Green Bay, Wisconsin, Michigan’s upper peninsula, Chicago and South Bend, Indiana.

Pilot Name Change

Just yesterday, Pilot Flying J announced that they are changing their company name to “Pilot Company”. This new corporate name is meant to, “serve as an umbrella that captures the total portfolio of the business as it continues to expand its retail and energy operations.”

Driver Saves Lives

Linden O’Donnell went out of his way to put out a car fire and help several motorists. He was driving on the right side of Interstate 280 when he witnessed a car smash into the back of a stalled SUV. Thankfully the SUV was empty, but the passengers of the car were barely conscious and in need of help. As fire crept from the engine to the cab, Linden ran to grab his fire extinguisher and put out the flames. This allowed Linden to safely assist the drivers out of the car and out of harm’s way. His courage and ability to react deserves the honor he is receiving.

New Tech

This pilot study done by American Electric Power and Nissan Motor Co., is testing the reuse of old batteries to reduce costs for electric cars. This new process has the potential to lower system costs by one-half and even extend the power of lithium batteries by one-third.

TagsTruckloads road closure Truck Driver Owner Operator trucking Trucker Path Freight Factoring Trucking Industry truck stops Truck driver tips Freight Broker Owner Operators Freight Brokers national truck driver appreciation week Industry Update Did you Know Trucking Tips MATS 2019

Fine Print and Hidden Costs in Freight Factoring [p]Be certain to review the fine print of freight contracts as sneaky freight factoring companies sometimes have hidden costs that are added to the advertised factoring rate. [/p] [h2] Freight Factoring - What some companies don't tell you [/h2] [p]Factoring can be a great tool to streamline your cash flow and grow your business as it eliminates the wait to get paid for owner-operators. However, some factoring companies have contracts with complicated jargon and disclaimers hidden in the fine print. [/p] [h2] Hidden Costs [/h2] [p]Sometimes a factoring company will advertise a great rate, far lower than any competitor. It's a perfect scenario for you, right? Well, not exactly. [/p] [p]Those rates that seem too good to be true are typically just that. Although a low rate is optimal, the associated fees that you will incur in addition to the rate can balloon the overall cost for you to factor. [/p] [video id="IBCMtru_QMQ"] [h2] ACH Transfer Fee [/h2] [p]ACH Transfer fees can be issued each time you factor and range from $10 to upwards of $25 depending on the type of transfer or deposit. This cost can surely add up over time and frankly, it's ridiculous for to you to pay a fee just to receive your money. [/p] [h2] Minimum Volume Fee [/h2] [p]Often times a factoring company will require you to commit to factoring a minimum volume of invoices. Failure to meet the agreed minimum amount can result in extra fees or a percentage surcharge. Take into account your typical invoice amounts and calculate if you will have an issue trying to meet the minimum requirements. Keep in mind not all factoring companies have this policy or fee. [/p] [h2] Client's Credit Check Fee [/h2] [p]Although your credit is not taken into account, your client's credit is. The creditworthiness of your client must meet a certain standard for certain factoring companies before they agree to factor your invoices. That's right, some companies will charge you a fee for that credit check. [/p] [h2] Length of Terms [/h2] [p]You might decide to factor for a variety of reasons. Unavoidable circumstances might arise making it difficult to cover your operational costs. Truck repairs are extremely costly and unpredictable at times, especially for owner-operators and having a reliable truck that is fully functional is essential to your business. If you run a small fleet, wages, insurance, and taxes further compound your expenses. [/p] [p]This brings the length of terms to factor into play. Most factoring companies offer three to six-month term agreements to factor with some even require one-year contracts. It's important that you review and consider your options when considering the length of terms.[/p] [p]Be sure to choose the best fit for you. If you're confident that you won't be factoring for an entire year or that you want to explore other options after a few months, you should consider factoring with a company that doesn't have a minimum length of terms agreement. [/p] [h2] Termination Fee [/h2] [p]Let's say you have been factoring with a company for six months now. You have received payment days after hauling a load and it's been beneficial in helping you generate cash quicker to cover your expenses. Now you have ample funds and decide that you don't need to factor for the next few months.[/p] [p]The factoring company won't let you out of the contract because you agreed to factor for a certain length of time. In order for you to stop factoring, you have to pay a fee up to $1,000. [/p] [p]That's ridiculous, right? [/p] [giphy] <iframe src="https://giphy.com/embed/KE58LJF3k8jug" width="480" height="426" frameBorder="0" class="giphy-embed" allowFullScreen></iframe><p><a href="https://giphy.com/gifs/roger-KE58LJF3k8jug"> [/giphy] [h2] Choosing a Freight Factoring Company [/h2] [p]Before choosing to do business with a factoring company, you should take into account these potential hidden costs and fees in the fine print of a contract. Freight Factoring helps manage your trucking company's cash flow and takes the hassle away from client collections, allowing you to focus on growing your business and hauling more freight. [/p] [p]You shouldn't feel that you are being fleeced by an unusual amount of fees that you weren't aware of or deal with. <strong>Trucker Path InstaPay</strong> is freight factoring that pays you in a day with no hidden costs, fees, minimum commitments or contracts with pages and pages of fine print to sift through. [/p] [button text="LEARN ABOUT INSTAPAY" href="https://truckerpath.com/sign-up-instapay/?utm_source=blog&utm_medium=hiddenfeesAug1" width="250px"]

Aug 01, 2017 • Carriers

Spring Driving Tips for Truckers [p]Spring is here and we are getting ready to welcome summer. Soon temperatures are going to soar, and rain will make its entry into the equation.[/p] [p]As a trucker, it's both good and bad news for you. Good because you don't have to fight against snow or subzero temperatures anymore and bad because now rain, landslides, and other hazards will introduce themselves. Therefore, you must still be attentive when you drive your truck while also enjoying the scenic views the American highways have to offer. Let’s take a look at some of the challenges you might face driving in spring as a trucker. [/p] <h2></h2> [p][b]Tackling Rain[/b][/p] [p]At the start of spring and early summer, the weather begins to change, and with that comes rain and slippery roads. It shouldn't be too much of an issue driving in the rain because you are fresh off the winter season, and you must have tackled snowy roads during that period. However, you should exercise caution since roads become very slippery during the first few minutes of rain. You should slow down and maintain a safe distance from other trucks and vehicles on the road. If conditions are too treacherous and visibility is an issue, it is better to bide at a truck stop and wait for the storm to pass.[/p] <h2></h2> [p][b]Construction Season[/b][/p] [p]The start of spring signals the beginning of the construction season, especially in the Midwest. If you pass through a construction site, make sure to pay attention to all the road signs. You should slow down and change lanes with more care to avoid any accidents. If you practice caution, you will save others and yourself from unnecessary harm.[/p] [img src="https://truckerpath.com/uploads/2021/04/202104-TP-BLOG-SpringTips-2.jpg" alt=""] <h2></h2> [p][b]Sun Glare[/b][/p] [p]The sun shines bright during the spring and summer seasons. It also means that you have more hours of daylight to tackle. Therefore, keep a pair of sunglasses by your side to protect your eyes from damage - not to mention look cool as well. Furthermore, keep the truck's windshield clean, especially since bugs will also be aplenty during this time.[/p] <h2></h2> [p][b]Scenic Highways to Try This Season[/b][/p] [p]Driving during spring season has some advantages too. You can also enjoy your time driving on scenic routes. Imagine getting paid to drive some of the most beautiful roads in America! Not everyone has that pleasure, so you must make the most out of it when you can.[/p] <h2></h2> [p][b]Route 12, Utah[/b][/p] [p]The red rocks of Utah are a treat to watch, especially in early spring. The route presents exquisite views as you drive through the Canyons and wind down the challenging roads.[/p] [img src="https://truckerpath.com/uploads/2021/04/202104-TP-BLOG-SpringTips-Cover-Route12Utah.jpg" alt=""] <h2></h2> [p][b]Trail Ridge Road, Colorado[/b][/p] [p]It is extra fun to drive in high altitudes, especially in spring. The Trail Ridge Road is the country's highest continually paved road that follows through the Rocky Mountain National Park. You will get to see several wildlife species during your drive and witness outstanding scenery at every corner and straight.[/p] [img src="https://truckerpath.com/uploads/2021/04/202104-TP-BLOG-SpringTips-Cover-TrailRidgeRoad.jpg" alt=""] <h2></h2> [p][b]Final Thoughts [/b][/p] [p]The spring season is a good time for truckers as you can bask in the sun, enjoy scenic views, and make some good money while doing it. However, remember to take extra care and not be complacent while you are having fun. Do you have some awesome spring destinations? Share it with us. [/p] <h2></h2> <h2></h2> [p][b]By Aldous Aldwin[/b][/p]

Apr 12, 2021 • Carriers

Industry Update - October 29, 2019 <h4>By Paul DeCoste</h4> <h3><strong>Did you know?</strong></h3> The classic trucking movie, Black Top was released twenty years ago this month. <h3></h3> Starring Meat Loaf, this trucking thriller was released October 20, 2000. <h3></h3> <h3><strong>Trucking Tip of the Week:</strong></h3> With summer being long behind us now, watch out for dangerous, icy road conditions in the northern US. In North Dakota, they are experiencing winds <a href="https://www.weather.gov/unr/WinterStorm-170124">that range from 15 to 25 mph</a> with gusts that are getting up to 40 mph. Temperatures are getting into the negatives and are expected to fall below -10 by tonight. <h3></h3> <h3><strong>Industry Update:</strong></h3> More than 3600 Mack workers on strike. For the first time in 35 years, Mack employees have walked out of their jobs and are protesting. The bulk of the protests are centered around the company failing to renegotiate contract terms with the union. Terms that include wage increases, job security, holiday/vacation, workplace health/safety, healthcare, and retirement options. <h3></h3> <a href="https://www.thedrive.com/news/30402/nearly-3600-uaw-affiliated-mack-truck-workers-strike-against-low-wages-benefits">The last Mack strike happened in 1984</a>, when roughly 9,200 workers walked off the job while contract negotiations took place. <h3></h3> <h3><strong>Laws and Regulation:</strong></h3> Michigan State Police officers are <a href="https://www.metrotimes.com/news-hits/archives/2019/10/01/michigan-state-police-to-begin-roadside-drug-testing-program-that-includes-mouth-swabs-for-oral-screenings">now allowed to administer roadside saliva tests for drivers</a>. These tests are made to detect the presence of amphetamines, benzodiazepines, cannabis, cocaine, methamphetamines, and opiates. More specifically, the cannabis portion of the test is only looking for delta 9 THC, the well-known and psychoactive ingredient in cannabis. <h3></h3> <h3><strong>Hours of Service Update:</strong></h3> <a href="https://www.fmcsa.dot.gov/newsroom/federal-motor-carrier-safety-administration-publishes-hours-service-proposal-improve-safety">Did you submit your comments to the FMSCSA</a> about the new ELD regulations? To date, they have received over 7,000 comments on the proposed changes. Although the due date was October 21<sup>st</sup>, you can get more information on submissions here: <a href="https://www.federalregister.gov/documents/2019/08/22/2019-17810/hours-of-service-of-drivers">https://www.federalregister.gov/documents/2019/08/22/2019-17810/hours-of-service-of-drivers</a>. <h3></h3>

Oct 29, 2019 • Carriers