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Commercial Vehicle Group Experiences Fourth Quarter Loss

Posted by Genie Wood on Fri, Feb 22, 2013 @ 01:42 PM

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. 

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States Waive Skills Tests for Veterans Pursuing Commercial Driver's License

Posted by Genie Wood on Fri, Jan 18, 2013 @ 02:16 PM

Maryland and 33 other states in the U.S. have recently opted to waive the skills portion of commercial driver’s licensing procedures for veterans whose experience in the armed forces has given them the training considered adequate to qualify for such licensing. The rules will apply to active duty, Reserve Guard, and Coast Guard members, and is intended to help those who have served their country to more easily transition into a career in the civilian workforce.

At TBS Factoring Service, we are dedicated to helping independent truck drivers who have served their country to get the reliable funding they need to make their business a success. If you need help with freight bill factoring, contact the freight factoring specialists of TBS Factoring Service today at (800) 207-7661.

Tags: commercial driver's license, trucking news, freight factoring, truck factoring