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TBS Factoring Service recently announced that it will be awarding a $10,000 scholarship for trade school through the St. Christopher Truckers Development & Relief Fund to veterans of the U.S. military. 

Application submission for interested veterans began on October 1st and applications will continue to be accepted until November 15. The winner of the scholarship will be announced sometime in early December. The winner will be able to use the scholarship at the trade school of his or her choice, and will be awarded on the basis of financial need as well as a demonstrated interest in pursuing or advancing a career in the motor-carrier industry. Interested individuals can apply online at www.truckersfund.org or by contacting the St. Christopher Truckers Development & Relief Fund at 865-202-9428 or contact@truckersfund.org.

Wood Kaufman, the founder and CEO of TBS Factoring Service stated, “We are extremely proud of those who have given so much to protect our country. It’s our honor and privilege to now help give them, through this grant, an opportunity to make a difference as civilians here at home. Trucking presents great career opportunities and serves an important role in America’s economy.”

According to the most recent study conducted by the American Trucking Association, both short- and long-term trends in the trucking industry continue to point in a positive direction. Truck freight tonnage, according to the study, increased 2.3% from April to May, and was up nearly 7% from the same period in 2012, with heavy loads in particular leading the way in the increased tonnage.

Additionally, these trends appear to be sustainable over the long term, particularly in light of new energy developments in states such as North Dakota, which are requiring substantially more freight activity to help move heavy equipment and other business components. The boosts that this type of activity can provide to the overall economy, furthermore, suggest that all sectors of trucking have the potential to see significant growth, with ATA projecting a more than 20% increase in freight volumes for all modes of trucking.

At TBS Factoring Service, we are dedicated to helping independent trucking operators get the help they need to stay on the road and in business. Contact us today at 800-207-7661 to speak with a member of our customer service staff and learn more about how our freight factoring services may be able to help you.

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.

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.

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 15^th, 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.

The American Trucking Association (ATA) has released its seasonally-adjusted For-Hire Truck Tonnage numbers, and its Index rose more than half a percent in the month of February, the fourth consecutive month which has seen an increase. This bodes well for the continuing health of the industry on the whole, and marks the best four-month stretch since late in 2011.

According to the ATA’s chief economist, this increase in truck tonnage has been more and earlier than expected, and suggests that the impact of economic headwinds anticipated by some analysts will not be nearly as damaging as expected.

At TBS Factoring Service, we are committed to helping trucking professionals with their freight factoring regardless of the prevailing economic conditions. To learn more about what we can do for you, contact our offices today by calling us at 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.