Our Blog

Liquefied Natural Gas as a Cleaner Freight Energy Source

Posted by Genie Wood on Thu, Sep 19, 2013 @ 03:44 PM

Thus far in September, the trucking industry has made shifts towards using liquefied natural gas (LNG) alongside diesel as a more environmentally-sound source of energy. On Wednesday at the Great Lakes Trucking Expo held in Cleveland, Tom O’Brien, CEO of Travel Centers of America LLC, spoke about recent progress in developing profitable ways to use LNG in the trucking industry. O’Brien cited the “shale revolution” as enabling the exploitation of liquefied natural gas in an economically advantageous way.

Across the United States, oil companies have been exploring shale exposures for natural gas with success. The discovery of natural gas gives the United States a newfound advantage in energy industries. O’Brien believes that the discovery of liquefied natural gas in shale exposures “could be the largest single advantage that the U.S. has enjoyed in the last century.”

Recently, Willow Run Foods signed a lease with Ryder Systems, Inc. for fifteen heavy duty compressed natural gas vehicles. The partnership between Willow Run Foods and Ryder Systems, Inc. marks tangible evidence of the shift towards using LNG that O’Brien spoke of on Wednesday. The vehicles were made available to Willow Run Foods through funding by the New York State Energy Research and Development Authority (NYSERDA). The project is expected to reduce greenhouse gas emissions by 500 tons.

New fuel options for truckers often comes with significant financial benefits. Unfortunately, many truckers still find themselves facing significant cash flow issues. If you are experiencing financial problems because of unpaid invoices, TBS Factoring Service can help. Contact us today at 800-207-7661 to find out more about what we can do for you. 

Tags: fuel, TBS Factoring Service, natural gas, freight factoring

Legislation Proposed in Congress to Increase Trucking Insurance Minimums

Posted by Genie Wood on Wed, Aug 21, 2013 @ 10:28 AM

A bill authored by Rep. Matt Cartwright, D-Pa., would dramatically increase the minimum amount of injury and property damage insurance that trucking companies are required to carry. Under current law, trucking companies are required to carry a minimum of $750,000 in insurance in the event of an accident. Cartwright’s bill would increase this amount almost five-fold, to a total of $4.4 million.

Industry groups such as the American Trucking Associations argue that such moves could be harmful to the overall industry, and could harm small trucking companies in particular, without measurably improving the safety of other motorists. At present, the bill is not expected to pass the Republican-controlled House of Representatives.

At TBS Factoring Service, our team of trucking industry professionals understands the challenges that truckers can face, and we work to ensure that truckers and trucking companies have the support and assistance they need to stay on the road. Contact us at 800-207-7661 to learn more about what we can do for you.

Tags: TBS Factoring Service, Trucking Laws, Trucking Insurance, American Trucking Associations

Pilot Settling Lawsuits with Eight Trucking Companies

Posted by Genie Wood on Fri, Jul 19, 2013 @ 03:14 PM

Pilot Flying J, the truck stop chain that has been under fire for denying trucking companies and independent operators millions of dollars in fuel rebates to which they were entitled, has recently reached a settlement with eight of the trucking companies that pursued legal action against Pilot. Under the terms of the settlement, the eight firms will receive compensation for the lost rebates, as well as 6% in interest payments.

While this settlement is good news for the companies involved, there are still 13 pending lawsuits against the company in various state and federal courts across the country. Nevertheless, the decision on Pilot’s part to reach a settlement with this initial case may be a positive sign for the ability of others to receive compensation.

The trucking industry experts at TBS Factoring Service understand the many different financial issues that trucking companies and independent operators may face, and we are committed to helping truckers get the funding they need to stay on the road. If you would like to learn more about our freight factoring services, contact us today at 800-207-7661.

Tags: TBS Factoring Service, Fuel Rebates, trucking news, Pilot Flying J

FTR Trucking Conditions Index Improves in April

Posted by Genie Wood on Fri, Jun 14, 2013 @ 08:48 AM

The transportation forecasting experts at FTR Associates report in their latest trucking update that April’s Trucking Conditions Index (TCI), which measures a broad range of different variables to determine the current and future expected health of the trucking industry, improved slightly for April. The index improved by .7 points to a total of 13.8.

Under the FTR’s methodology, any reading above 0 is considered generally positive for truckers and readings above 10 indicate that the health of the industry is widespread and likely to experience continued growth. Therefore, the latest results of the TCI seem to reinforce the general consensus regarding the future of the trucking industry, and perhaps the American economy as a whole.

At TBS Factoring Services, our goal has always been to provide support and assistance to independent trucking operators to make sure that they have everything they need to stay on the road and in business. If you would like to learn more about what our factoring services can do for you, please contact us at 800-207-7661.

Tags: FTR Associates, TBS Factoring Service, Trucking Conditions Index, Trucking Industry

OOIDA Appeals Decision on Pilot Program with Mexico

Posted by Genie Wood on Fri, Jun 07, 2013 @ 07:57 AM

The Owner-Operator Independent Drivers Association (OOIDA) has filed an appeal to overturn a recent court decision which enables commercial trucking operators from Mexico to operate on U.S. roadways with a Mexican-issued trucking license. This pilot program, run by the Department of Transportation, is intended to increase trade between the two countries by reducing barriers to transportation. 

However, the OOIDA argues that this program unfairly disadvantages truck drivers in the United States. According to the OOIDA, trucking safety regulation standards are considerably more strict in the United States than in Mexico, so treating Mexican-based trucking operations as equivalent to American-based operations allows Mexican truckers to evade many of these restrictions, harming the job security of American truckers and making highways less safe. 

At TBS Factoring Service, we understand the challenges that independent trucking operators face, and we are committed to helping truckers stay on the road. Contact us today at 800-207-7661 to speak with a qualified member of our staff and learn more about what our factoring services may be able to do for you.

Tags: TBS Factoring Service, independent trucking operators, trucking news, OOIDA, trucking factoring

April Sees 4% Rise in Truck Tonnage

Posted by Genie Wood on Fri, May 24, 2013 @ 03:58 PM

Truck tonnage is up 4.3% nationally from the same time period last year, reflecting the ongoing strengthening of the U.S. economy. According to the American Trucking Associations (ATA), the April index was 123.2, a decrease of .2% since March but a reminder, nevertheless, that the overall state of the industry is relatively healthy. 

According to economists with the ATA, the relative health of the industry is broadly in line with the current trajectory of the overall economy. Furthermore, according to some, signs for May’s numbers are widely being viewed as positive at the moment. 

At TBS Factoring Services, we are always prepared to help truckers with their freight factoring needs, regardless of the state of the industry or the economy. If you would like to learn more about our services or what we can do for you, contact us today at 1-800-207-7661.

Tags: truck tonnage, TBS Factoring Service, news, Trucking Industry

Pilot Flying J Sued for Defrauding Truckers

Posted by Genie Wood on Fri, May 17, 2013 @ 02:21 PM

Pilot Flying J, the company which manages truck stops throughout the country under the Pilot Travel Centers name, has recently come under scrutiny from the FBI for allegations that some of its sales representatives actively sought to deny truckers rebates to which they were entitled. As a result, several trucking companies have filed suit against Pilot in order to pursue appropriate compensation for their workers.

The suits cite an 120-page filing made by the Federal Bureau of Investigation following a raid on Pilot Flying J’s headquarters on April 15th, 2013, which uncovered evidence of the scheme on the part of Pilot sales personnel to reduce the company’s rebates to truckers in order to boost corporate profits and sales commissions. Pilot’s CEO, James Haslam, has promised that the company will undergo an internal investigation and rebate all those who may have been affected.

Truckers and trucking companies face enough difficulties without being denied the rebates to which they are entitled. If you are having financial problems, consider the benefits that trucking factoring could have for you and your business. To learn more about the benfits that factoring could offer you, contact TBS Factoring Service today at 800-207-7661.

Tags: fraud, TBS Factoring Service, Pilot Flying J lawsuit, news, Trucking Industry

TBS Factoring Service Adds Compliance Services

Posted by Genie Wood on Thu, May 02, 2013 @ 07:58 AM

TBS Factoring Service is proud to announce that, through affiliate Truckers Bookkeeping Service, it will now be able to offer clients comprehensive compliance service in order to help truckers stay in business and on the road. The new service comes at a time when many truckers need it most, as new compliance regulations will likely take effect this summer which could have a significant impact on how the trucking industry does its business. 

Linda Baggett, who has more than ten years of experience in transportation compliance and is a Certified Director of Safety will head the new division. Some of the services that will be offered include a full review of companies’ existing compliance procedures, help in creating new compliance guidelines and procedures, and training in following these procedures. 

At TBS Factoring Service, we are committed to helping truckers with everything they may need to stay on the road. If you would like to learn more about our compliance or factoring services, contact us today at 800-207-7661.

Tags: TBS Factoring Service, trucking factoring, compliance services, service offerings

TBS Names L. Ashley Wendorff Sales Manager

Posted by Genie Wood on Fri, Apr 19, 2013 @ 01:56 PM

TBS Factoring Service is pleased to announce that L. Ashley Wendorff, a member of our sales team since June of 2012, has been appointed to serve as sales manager. Wendorff is a graduate of Oklahoma State, where she was a student in Speech Communications and Marketing. With more than 15 years’ experience in sales and sales training experience, we are certain that she will be an invaluable leader for our company.

Since 2004, TBS Factoring Service has been dedicated to helping truckers with all of their freight factoring needs, and we put a premium on our ability to successfully serve the needs of our customers. In her time with TBS, Wendorff has already helped to streamline our services and extend our business opportunities to new ventures. To learn more about this development, read our press release.

Tags: TBS Factoring Service, new sales manager, L. Ashley Wendorff, trucking factoring

6,900 trucking jobs lost in March

Posted by Genie Wood on Fri, Apr 05, 2013 @ 10:42 AM

According to reports from the U.S. Labor Department, the trucking industry lost nearly 7,000 jobs in March.

Despite the unemployment rate dropping to 7.6%, the trucking industry had 6,900 employees lose their jobs, compared to a loss of 2,800 jobs lost in the entire transportation industry.

Additionally, according to Bloomberg News, payrolls increased by 88,000, a number that is significantly less than the 190,000 increase predicted. Fortunately, Bloomberg News also predicts that the national unemployment rate will stay relatively steady at 7.7%.

Losing jobs and employees not only usually reflects financial difficulties, but can also continue to place financial burdens on a trucking company. Fortunately, for trucking companies facing financial issues as a result of unpaid bills and trucking fees, the team at TBS Factoring can help. Call 1-800-207-7661 to learn about how we can help you get the money you need when you need it.  

Tags: TBS Factoring Service, freight factoring, Trucking Jobs, transportation industry