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The 42^nd annual Mid-America Trucking Show comes to Louisville this year. Considered to be the largest heavy-duty trucking event internationally, the Show is expected to attract upwards of 70,000 trucking industry professionals from all 50 states for three days from March 21^st-23^rd. The event is expected to bring upwards of $14 million to the regional economy.

The Mid-America Trucking Show is an industry trade show that allows trucking professionals from around the country to research and evaluate the latest products and services in the trucking industry, as well as to network with peers and establish working connections. For many independent trucking operators across the country, this event is annually one of the most important on their schedule.

At TBS Factoring Service, we understand the ins and outs of the trucking industry, and always do our best to help independent trucking operators with their cash flow needs. If you are interested in learning more about our freight factoring services, contact us today at 800-207-7661.

The Federal Motor Carrier Safety Administration granted farmers and drivers transporting livestock, agricultural products, necessary supplies, and machines to and/or from farms the hours of service exemption that’s allowed for the agricultural industry.

Whereas the old rule only allowed drivers to drive a maximum of 100 hours from the starting point, this new exemption allows qualified drivers to drive 150 miles from the source. While this new rule, only passed on March 14, 2013, can be extremely beneficial, it is only extended to farmers, their families, and their employees. Commercial drivers who drive for-hire trucks are required to continue operating under the old rule.

Regardless of what products you transport, you may find yourself short of funds when a client or customer does not pay you on time. In this situation, TBS Factoring can help you by factoring your freight bills. This can help you get the money you need when you need it. Call 1 (800) 207-7661 to find out how our team can help you.

In a recent poll conducted by Overdrive, 48% of owner-operators report having filed a claim on a broker's surety bond. The most high-profile filing incidents involve brokerages in trouble. If a broker is late on payment, odds are you’re not the only party who’s thinking about filing. If the broker closes and the broker’s bond limit doesn’t cover all debts, claims are paid on a “pro rata” basis – a percentage of what each carrier is owed. " href="http://www.tbsfactoring.com/news/how-file-against-broker%E2%80%99s-bond" target=_blank><more>

Estimates released by the Bureau of Labor Statistics show that 5,600 jobs were added by for-hire trucking companies in February of 2013. These added jobs contribute to a total of over 21,000 jobs being added to the trucking industry since November 2012.

This increase is a 3.2% jump from the total number of jobs in the trucking industry at this time last year. Additionally, these numbers for trucking-related jobs are only reflective of for-hire trucking companies; they do not include jobs added to or taken from private trucking companies or other trucking-related industries.

Despite the increase in the number of trucking-related positions and the overall decrease in national unemployment, truckers and trucking companies may still find themselves facing financial burdens, especially when customers fail to pay for services rendered in a timely manner. Fortunately, there are easier ways to get the money that you are owed in such a situation. With the help of TBS Factoring Service, you can get the money you are owed now, relieving you of the burden of waiting for your payment. Call 800-207-7661 to speak with a representative about your options for getting your money more quickly.

Overdrive reports we’re all familiar with changes in trucking over recent decades that have changed the owner-operator business. Among them, volatile fuel prices, shorter length of haul, and tons of regulations.

But how about change in just this last decade? The owner-operator business model has shifted drastically, probably more than in many other industries.

The average annual miles driven by owner-operators has dropped 21 percent over 10 years, according to ATBS data.
ATBS, which provides business services for thousands of owner-operators, has plenty of data to measure the key factors. Matt Amen of ATBS threw out some eye-opening numbers this week during the annual meeting of the Truckload Carriers Association in Las Vegas.

Comparing owner-operator averages in 2012 with 2003:

* Revenue is up 26%.

* Revenue per mile is up 59%.

* Net income is up 9%.

* Net income per mile is up 38%.

* Miles per gallon is up 40% (5 mpg to 7 mpg).

* Fuel costs are up 163% ($1.51 to $3.97)

* Annual miles are down 21% (138,726 per year to 109,836).

* Length of haul is down roughly 35% (about 1,000 miles to 650).

* Days away from home are down from 28 to 5.

The money numbers are best summarized by net income per mile — up 38 percent, or almost a 4 percent gain every year. That’s a decent raise in any industry.

Of course, inflation is a big factor when you compare earnings over 10 years. Inflation increased 25 percent over those years, or 2.5 percent per year. Compared to that, 4 percent year after year still looks good.

However, looking strictly at income instead of income per mile, the 9 percent increase – about 1 percent per year — failed to keep pace with inflation. Even so, there was a bit of a recession in that period, leaving many industries reeling and many individuals unemployed or under-employed. As Amen observed, “Ten percent growth in net income is a lot better most have done.”

The other standout in the ATBS comparison is miles. Length of haul is shorter by a third, so it’s not surprising that total miles are down by a fifth. Nor is it surprising that average time on the road, instead of being a little less than a month, is a little less than a week.

Taken together, this means the life of an owner-operator has improved over 10 years. Real income has risen slightly, and to earn it you don’t have to drive ungodly numbers of miles and spend most of your life away from home.

A lot of you have had a different experience than what the ATBS averages say. How does your financial snapshot compare with a decade ago?

The American Trucking Association (ATA) is currently in a legal battle with the Federal Motor Carrier Safety Administration (FMCSA) over proposed hours of service regulation changes, currently set to take effect in July of 2013. In the latest development, the FMCSA has refused to delay implementation of the new policies until after a judicial decision is made regarding contested provisions of the new policies.

According to the ATA, this delay would help save the trucking industry as much as $320 million between now and July 1^st, savings which would come from the costs of training employees to comply with the new regulations and other transition costs.

Unfortunately, many of these costs will likely be born, at least in part, by independent trucking operators. At TBS Factoring, we understand how much these types of challenges can affect your business. Fortunately, our freight factoring services can help to keep your revenue streams steady and reliable. To learn more about what we can do for you, contact us today at 1-800-207-7661.  

Although 2012 was a better year overall for Commercial Vehicle Group, Inc., the Ohio-based company ended 2012 with a quarterly loss.

The commercial truck parts manufacturer out of New Albany, Ohio, reported a loss of $5.6 million for the final quarter of 2012 compared to the company’s $10.1 million profit in the same quarter last year. 

President and CEO, Mervin Dunn, believes the weak market conditions the company experienced in the third and fourth quarters last year will not last. In response to the losses, Dunn said the company has reduced labor and other costs to “minimize the impact of lower volumes,” while simultaneously not sacrificing any long-term growth plans. 

Despite weak third and fourth quarters, Commercial Vehicle Group’s profits rose from $18.6 million in 2011 to $50 million in 2012. Additionally, sales were up $25.9 million from the previous year.

Commercial Vehicle Group, Inc., specializes in making truck cabs, wire harnesses, and other parts.

Financial problems in any part of the trucking industry can have serious effects on professionals in all parts of the industry. If you are having trouble making ends meet, find out what freight factoring can do to help your business. Call TBS Factoring Service, LLC, today at 800-207-7661 to learn more. 

The California Construction Trucking Association (CCTA) is fighting a legal battle against the California Air Resources Board’s (CARB) new regulations for trucks operating in California. The CARB’s guidelines will likely require most diesel-powered trucks operating in California to be replaced entirely in order to comply with 2010 EPA emissions standards for vehicles operating on California’s roads.

According to the CCTA, this regulation violates federal laws, which prevent states from creating laws which affect the price, routes, or services of motor carriers. However, because of EPA regulations which were released after the original litigation began, the state-federal distinction has become confused, and it may be some time before there is any certainty about the state of trucking regulation in California.

At TBS Factoring, we understand how issues such as these can prove difficult, particularly for independent trucking operators, complicating revenue projections and potentially limiting access to one of the nation’s most important economic centers. That’s why we are dedicated to ensuring that truckers have a reliable cash flow stream through our factoring services. To learn more about what we can do for you, contact us today by calling 1-800-207-7661.

As of July 1st, new hours of service regulations from the U.S. Department of Transportation could go into effect, unless a current lawsuit challenging these hours of service changes is successful. 

If the changes go into effect, truckers will be limited to one 34-hour restart per week, and the average maximum allowable hours will be reduced from 82 hours to 70 hours per week. This amounts to an overall 15% decrease.

Proponents of the new regulations argue that they are meant to keep drivers healthier and to reduce instances of driver fatigue behind the wheel. However, many are opposing these changes, stating that they will not have the indended benefits on the industry and instead, will only do damage to motor carriers. 

Motor carriers and independent drivers find themselves regularly facing a number of challenges that affect their business and their financial standing. Fortunately, there are services out there that aim to help those in the trucking industry make ends meet when times are tough. To learn more about the potential benefits that freight factoring could have for you and your business, contact the team at TBS Factoring Service today by calling 1-800-207-7661. 

Trucking jobs numbers were announced for the month of January, showing 5,000 additional jobs added to the trucking industry. This comes amidst a shrinking overall number of jobs in the transportation industry as a whole, which lost 14,200 jobs in January alone. 

This announcement comes at the same time that job reports for December were revised to show that fewer jobs were actually added in the last mont of last year than was originally thought. Original reports stated that the trucking industry added 4,200 jobs in December, and that number has since been scaled back to 3,400.

With more and more jobs being added to the trucking industry, some trucking companies are finding it hard to make ends meet when clients fail to make timely payments on their invoices. Fortunately, freight factoring can help you get the money you need, when you need it. To learn more about what truck factoring can do for your company, contact TBS Factoring Service today by calling 800-207-7661.