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Autonomous vehicles could seriously disrupt American trucking industry

Posted by Genie Wood on Mon, Aug 24, 2015 @ 08:35 AM

BBC's Rachel Nuwer recently released a report stating that it is estimated that as many as 8.7 million Americans may potentially lose their jobs as self-driving technology is perfected and eventually implemented in the trucking industry. Nuwer also pointed out that a number of small communities across the country that rely on business from passing truckers could also suffer from the decline in economic activity.  

According to data from the census bureau, truck driving has been the number one job in 29 states and has resisted technological advancements for the past 30 years; however, with major technology and transportation companies such as Tesla, Google, and Uber striving to refine the current self-driving technology, trucking and delivery employees are facing the prospect of being squeezed out. 

Advocates of fully automated vehicles suggest that this change could bring a number of benefits for the consumer, such as safer roadways populated by computers that don't make human errors as well as faster delivery times and reduced costs.  

While technology currently threatens a number of human-occupied jobs and careers, there is still no substitute for the human traits that ensure quality consumer experiences--traits such as emotional intelligence and personal care. At TBS Factoring Service, we still prioritize superior human interactions that ensure the very best customer service and experience. We have helped trucking companies maintain and grow their business through bookkeeping, insurance, and freight factoring services for decades. Call us today at (800) 207-7661 to learn more about our services.  

Tags: truckers, TBS Factoring Service, freight factoring, Trucking Jobs

Congress may Lower the Interstate Age Limit for Truck Drivers

Posted by Genie Wood on Fri, Jul 24, 2015 @ 10:49 AM

A bill was just recently introduced into Congress this past week that could allow drivers as young as age 18 to drive commercial trucks across state lines. If the bill passes, it would require that contiguous states join together and form “compacts” to lower the current age limit to 18 for interstate routes. However, there is no limit to the number of states that can join compacts, so potentially the entire US could have its age limit lowered.

This change is in response to the recent shortage of drivers for the freight industry. Previously, 18-year-old drivers were allowed to drive within states, but a driver had to be 21 or older to be able to cross state lines. This limited the industry in its ability to transport cargo between states, but lowering the age limit would allow for more recruits. However, the bill would place certain restrictions on young drivers, such as preventing them from transporting hazardous material or driving oversized or overweight loads.

TBS Factoring Service has been helping trucking companies remain profitable and successful for decades. With the trucking industry undergoing such drastic changes, it is important to keep other aspects of business in line.  With our bookkeeping, insurance offerings, and freight factoring services, we can help independent trucking companies and drivers keep their finances straight in a changing industry. Call us at (800) 207-7661 today for more information.

Tags: TBS Factoring Service, Trucking Laws, Trucking Jobs, Trucking Industry

Trucking companies seek ways to keep employees, including raising pay

Posted by Genie Wood on Tue, Jun 30, 2015 @ 10:51 AM

As it becomes increasingly difficult to keep truck drivers, companies have begun to raise the pay for drivers by the mile. The trucking industry has experienced a large shortage in drivers recently, and is looking to secure their current drivers by making this move. However, many in the trucking business are asking for more. Some insist on raising the maximum speed for a truck driver as well as offering a guaranteed hourly wage, rather than offering payment by the mile.

With all these changes, large trucking company Transport America says they are “invested in their drivers' careers as much as they are.” This is why companies, like Transport America, across the nation continue to raise trucker salaries. However, the exact "best" way to increase truckers' pay is still under debate. 

While increased wages can help many truck drivers, some still struggle to make ends meet. Fortunately, freight factoring services can help indpendent truckers and trucking companies alike with cash flow problems stemming from unpaid invoices. The team at TBS Factoring Service has over 50 years of experience and is well-equipped to help your trucking business grow. Call us today at (800) 207-7661 to learn more about how we can help grow your business. 

Tags: TBS Factoring Service, freight factoring, Trucking Industry, Trucker wages

Major Carriers Install In-Cab Cameras

Posted by Genie Wood on Mon, Jun 01, 2015 @ 09:25 AM

With the Federal Motor Carrier Safety Administration voting to allow the use of in-cab cameras last December, several major carriers have begun installing the precautionary devices in their trucks. While this decision was initially met with outcries of privacy violations, companies maintain that the new practice is being made in an attempt to protect both themselves and drivers from fault in accidents and lawsuits. 

Despite the complaints, companies are already seeing the benefits of the new camera systems, especially when the new cameras are joining previously installed safety systems such as lane-departure warning, reactive cruise-control, and stability control. In Nashville, M&W Logistics CEO Mike McFarlin says his company has seen a 34 percent decrease in total accidents inside twelve months of installing the cameras. Additionally, occurrences of the two most severe types of accidents, Level 3 and Level 4, have been cut in half.

There are several different systems available which vary from one another is small ways, but the overall approach is the same. The systems usually have two lenses, one facing forward that captures everything happening outside of the cab, and a second lens positioned towards the driver and passenger inside the cab. The cameras are connected to an accelerometer that detects sudden movements. While the cameras film continuously, the video is only saved when the accelerometer detects an event such as hard braking or sudden deceleration. Most systems offer an override option that allows carriers to record and save up to 40 hours of footage.

TBS Factoring Service is excited to offer insight gained over its 50 years of experience in the industry, as well as assistance with a variety of services to help truckers and trucking companies, including insurance offerings and freight factoring. Call us today at (800) 207-7661 to learn more about what our team can do to help you.  

Tags: Cameras, TBS Factoring Service, trucking, Federal Motor Carrier Safety Administration

Trucking Companies Looking to Hire Young Drivers

Posted by Genie Wood on Fri, May 01, 2015 @ 08:27 AM

There is currently a national shortage of 35,000 truck drivers due to an aging workforce, stricter trucking regulations, and a lack of interest in the business from young people. The lack of interest from young persons is one of the largest problems facing the trucking industry, regardless of the projected 70 percent revenue increase predicted over the next decade.

Although the truck driving industry advertises an attractive starting salary of $35,000-$40,000, young people are still uninterested in pursuing careers as truck drivers. The commercial driver’s license director at Clark State Community College reported holding classes for only 9 to 12 students at a time.

The reasoning that most young people site for their lack of interest in truck driving is the long periods of time spent away from home. This is also a problem for current truck drivers who are leaving trucking companies for other occupations. Current drivers are also petitioning for higher pay, better benefits, and more time closer to home. Because of this, the turnover rate of truck drivers in 2014 was 90 percent.

Trucking companies are taking major steps to increase pay, improve benefits, and alter driving routes to keep their drivers closer to their homes. They are also fighting to lower the truck driving age, since most young adults are already involved in other professions by the time they're 21-23.

TBS Factoring Service has served trucking companies for over 50 years, helping them to grow their businesses and remain successful. With current job prospects suboptimal, it is important to keep business prospects in other areas lucrative. With our freight factoring, bookkeeping, and insurance services, TBS Factoring Service is capable of offering worthwhile financial assistance to independent trucking companies and truck drivers. Call (800) 207-7661 today for more information.  

Tags: TBS Factoring Service, freight factoring, Trucking Industry Concerns

Transportation's Net Gains Despite Subdivision Losses

Posted by Genie Wood on Thu, Apr 16, 2015 @ 07:17 AM

While the transportation industry saw an increase in employment numbers over the past year, subdivisions of the industry experienced notable job losses.

This past March, the transportation industry added a total of 9,500 jobs. This gain is half of February's, which saw the most trucking jobs added in the past year. Furthermore, certain sectors of the industry, including “support activities for transportation” and “transit and ground passenger transportation,” had employment gains of 8,400 and 3,500 jobs, respectively. 

However, despite these positive gains, sectors like “trucking transportation” and “scenic and sightseeing transportation” experienced job losses. The trucking transportation subdivision lost 6,800 employees this March, while scenic and sight seeing transportation lost 500. For trucking transportation, this is the largest loss in two years. 

Regardless of the job prospects in the trucking industry at any given time, freight factoring services are always an option for trucking companies that want financial assurance. If you are looking to secure immediate payment for your outstanding invoices, assistance from TBS Factoring Services is sure to help. For more information, call us at (800) 207-7661 today.

Tags: TBS Factoring Service, freight factoring, Trucking Jobs, Trucking Industry

The Work Truck Show breaks attendance record

Posted by Genie Wood on Wed, Mar 18, 2015 @ 12:55 PM

Over 11,000 individuals gathered in Indianapolis for this year’s Work Truck Show, breaking previous attendance records.

Fleet managers, distributors, manufacturers, buyers, dealers and other industry professionals flocked to Indianapolis to attend educational sessions and exhibits. Several much-anticipated product introductions were likely a large part of the increased numbers at this year’s conference. Mercedes-Benz unveiled its new mid-size van; Ford revealed its F-750 Tonka dump truck; and STAHL introduced the Razorback, an innovative service body made of polymer composite.

Steve Carey, NTEA executive director, said that the "energy and excitement on the show floor reflects an industry that is expanding and economically sound."

As this industry expands, trucking and transportation companies may look to freight factoring to provide a reliable and consistent means of cash flow. TBS Factoring Service is proud to say that it has been a part of this industry for over 50 years, and our family-owned business wants to help manage and grow your company. Call us today at 800-207-7661 to learn more about the services we offer.

Tags: TBS Factoring Service, Work Truck Show, freight factoring

American Trucking Associations displays trucking advancements

Posted by Genie Wood on Wed, Feb 18, 2015 @ 03:24 PM

The Technology and Maintenance Council (TMC) of the American Trucking Associations (ATA) kicked off its annual exhibition this past Monday, Feb. 16. The exhibition features new trucking technology from 400 different vendors, with their items spread across a vast 370,000 square foot room. 

The TMC strives to provide new equipment and technology for trucking services. Products at the event include advancements in subdivisions of truck loading, municipal operations, private operations, and more. Furthermore, the exhibit features an Alternative Fuels Pavilion to educate attendees on resourceful, new ways to fuel trucks. 

While the TMC promotes new parts and technology, it also emphasizes the proper maintenance of them. Included in their purpose is a goal to foster proper management of new items. They support the ATA technology and Engineering Policy Committee research. This reciprocal relationship enables the Council to work with and be up to date on new policies and trucking advancements. 

While the exhibit and other efforts of the ATA are all beneficial, they can be expensive. If a company is not receiving payment on their invoices on time, finances that could be directed towards new technology may not be available. Fortunately, in such situations, the freight factoring services provided by TBS Factoring Service could be of significant assistance. To learn more, call us at (800) 207-7661 today.

Tags: freight factoring, Technology & Maintenance Council, TBS Factoring, ATA

Cross-border Tucking Approved between U.S. and Mexico

Posted by Genie Wood on Thu, Jan 22, 2015 @ 08:11 AM

Mexican trucking companies will soon be able to apply to make long-haul trips into the United States thanks to recent policy changes in Congress. This decision is a huge step forward in strengthening relations with Mexico, the third largest trading partner with the U.S. A three-year pilot program conducted by the U.S. determined that Mexican trucks were capable of meeting the safety standards of the U.S. and Canada. In order for a Mexican trucking company to pass the pilot test, it must pass a rigorous safety test, hold a U.S. or Mexican commercial license, and meet specific English language proficiency requirements.

In 2009, Mexico implemented tariffs on certain U.S. agricultural products, including tomatoes and potatoes, in retaliation for a U.S. appropriations bill that halted Mexican truckers from crossing the border. Since the beginning of the pilot program in 2011, Mexico has suspended the tariffs. The safe cross-border trucking system helps the U.S. Transportation Department meet NAFTA obligations by expanding opportunities for increased trade and investment between the nations.

While these policy changes are beneficial to truckers and the U.S. trucking industry, many drivers still face significant struggles due to clients failing to make timely payments on their invoices or other obligations. In such cases, the qualified team at TBS Factoring Service is ready to help. Please call us today at (800) 207-7661 to speak to one of our experienced staff members and learn more about how our freight factoring services can help you make ends meet.  

Tags: TBS Factoring Service, trucking regulations, freight factoring

Restrictive trucking regulation is temporarily suspended

Posted by Genie Wood on Tue, Dec 23, 2014 @ 10:20 AM

Last year, the Federal Motor Carrier Safety Administration enacted new rules limiting the hours of service drivers could be operating a truck. Truck companies vehemently opposed this rule, as they had to drastically rework schedules, staffing, and put more trucks on the road at a time. In fact, trucking companies believed the “Hours of Service” rules impacted the industry so severely that about $500 million was lost this past year.

Due to the outrage, Congressman Richard Hanna has proposed legislation to halt the Hours of Service regulation. The bill he has drawn up will suspend this federal regulation for the 2015 fiscal year and trucking companies can return to their former regulations regarding hours of operation.

While these changes could undoubtedly help many truckers and companies, many find themselves still facing financial difficulties due to clients who fail to pay their invoices. Fortunately, the experienced team at TBS Factoring Service can help you make ends meet. For more information on how our truck factoring services can benefit you, call us today at (800) 207-7661.

Tags: TBS Factoring Service, hours of service regulations, freight factoring, news