You might remember that at the beginning of 2020 we compiled annual reports from the American Trucking Associations (ATA) all the way back from 2003. The ATA generates a new report for the year prior in the middle of summer, and it is that time of year again: the ATA has a new report.Data AnalyticsThe […]
We wrote about this before, how trucking levels were on the brink of being above the price per mile before the pandemic hit. Now we can finally bust out that champagne: we are now above February’s rates!Above and BeyondNow at this point you are probably thinking this is hardly a cause for celebration; February is […]
Electric vehicles are intricate machines, but eventually due to the laws of physics such as that blasted conservation of energy, the vehicles need to be recharged with juice after some amount of traveling. Emining, a Swiss technology company focusing on the mining and quarry industry, has come up with an ingenious way to have dump […]
On Tuesday, June 23rd, Federal Motor Carrier Safety Administration chief Jim Mullen said his agency is looking into potential violations regarding rate transparency among brokers.The statement comes from the FMCSA’s session at the Truckload Carrier’s Association’s Virtual Safety and Security Meeting. The event was moved online due to the coronavirus pandemic.The “Changes”We have written about […]
You may remember that TopMark Funding wrote about the INVEST in America Act in the past. What we know now is that the House Committee on Transportation and Infrastructure has deliberated on it further. They went through over 24 hours of debate and more than 175 different proposed amendments. The finished bill was an act […]
We have written about AB-5 and its federal counterpart before. The law, intended to curb workplace abuse by making it harder to classify a worker as an independent contractor, has legal issues for owner-operators hoping to work under a larger carrier such as Landstar. If this is you and you were worried about losing your […]
Normally we at TopMark Funding provide updates for freight rates monthly, however, we bring news that is too good not to share. The rates are closely approaching the numbers they were before the pandemic began (pre-pandemic), and for reefers have already passed the point. The Graphs The rates for all three forms of freight (dry […]
President Donald J. Trump signed Executive Order No. 13924,85 FR 31353 on May 19th, 2020. This directed federal agencies, including the Federal Motor Carrier Safety Administration, to take action in fighting not just the coronavirus pandemic, but the economic damages resulting from the pandemic as well. One way the FMCSA took action was to suspend […]
TopMark Funding has been writing about COVID-19 for well over three months now, even before the World Health Organization (WHO) officially announced it as a pandemic. As time goes on and the general populace has stayed at home as long as it could to “flatten the curve”, the evidence seems to be piling up that […]
The numbers from the Bureau of Labor Statistics (BLS) are in: the for-hire trucking sector of the U.S. economy lost 1,200 jobs in May. Furthermore, the trucking industry total employment, 1,431,000, was the lowest it has been since November 2014. This is despite the U.S. economy as a whole gaining 2.5 million jobs.By themselves, these […]
With Tesla delaying the Semi for another year, it appears to be that the Nikola Motor Company (also named after electrical inventor Nikola Tesla) is the frontrunner to get a fully electric semi-truck to market. Their chances just increased immensely when they finished performing a reverse merger with VectoIQ Acquisition that will also raise at […]
The month of May resulted in some interesting phenomena for the trucking industry: usually when it comes to dry van, flatbed, and reefer hauling, the rates all change in the same direction. This has been a crazy year, which leads to some crazy changes.For May, the reefer rate average rose, most likely due to the […]
TopMark Funding not only finances trucks and trailers, but also other forms of business equipment, such as machines used in construction. The machines we will focus on in this article are not necessary per se, but in terms of time and sweat saved are invaluable to any construction operation.BricklayerFashioning a brick road the old-fashioned way […]
The Texas Department of Transportation (DOT) has released a study detailing their findings regarding truck parking spots, taking place over 2018 and 2019.If you travel interstate as a trucker, there is an extremely high chance you will eventually find yourself in Texas. With over a quarter-million square miles of land, the state is the […]
The Federal Motor Carriers Safety Administration has announced an extension to the hours-of-service suspension. It was first declared on March 13th and originally extended from April 12th to May 15th, and is being extended again to June 14th. The Applicable Shipments Not all trucks on the road get the privilege of ignoring hours-of-service until the […]
Caterpillar Inc. manufactures dump trucks (lovingly referred to as off-highway trucks), complete with their in-house engines to get the job done. In this article we will be going over the specifications for their most popular engines, that is, those that appear most often in their dump truck models. The full list, complete with over eighty […]
Although it may be tiring to hear about COVID-19 each and every day, it appears that the pandemic may be coming to an end soon. The trucking industry may return to normal, but a new normal from how the trucking industry was in January 2020. What changes will be permanent? Online Interaction The need for […]
So you want to advance your career in the trucking industry and earn a little extra money to improve your life. Any of these positions, with the right expertise, can be lucrative positions to have.10. RecruiterNot a job behind the wheel of a truck, but a trucking job nonetheless. With a driver shortage in the […]
We at TopMark Funding have not been giving you the statistics for average freight rates lately, as we have been writing extensively about more immediate topics such as the Coronavirus. Now that it appears the pandemic is reaching the declining end of the curve, we can get back into the swing of things for normal […]
On March 23rd, a coalition of automotive dealers, including the American Truck Dealers (ATD), sent a letter to President Trump, Vice President Mike Pence, Cabinet members, and the Governors of all fifty states asking for “essential status” for dealerships in the wake of the COVID-19 crisis.The Letter to the GovernmentThe letter outlines the coalition between […]
To Our Valued Customers We hope you and your family are safe and in good health. During this uncertain time related to the COVID-19 pandemic, we want to assure you that TopMark Funding remains open and ready to serve you. We recognize that with the constantly changing situation around the world, this is an unprecedented […]
Every year millions of U.S. businesses utilize some sort of working capital product to help grow or sustain their business when they need additional cash flow to do so. Due to the natural risk that is present when lending what is essentially cash, working capital can be expensive — however, expensive doesn’t mean it can […]
We recently wrote about how Mack and Volvo Group suspended truck production due to COVID-19 fears, now it appears that other truck builders are following in their footsteps. Recently, Paccar and Navistar International announced that they are also halting production. Both have announced two-week shutdowns, with a Paccar representative saying, “[we] will continue to provide […]
Mack Trucks and Volvo Group both announced on Friday that they were going to cease assembly operations due to the coronavirus. “We have decided to temporarily suspend production as part of the effort to slow the spread of the virus in our communities.” Mary Beth Halprin, vice president of public relations, Volvo Group, said. “During […]
From January to March (and especially February), when the holidays have passed but it is too early for produce to ripen, the trucking industry has its slow season. Here are our tips to help you survive this troubling time. Slow Season is Hiring Season Because the slow season has a low number of miles to […]
Keeping track of a large number of trucks simultaneously was once impossible. Fortunately, modern technology has streamlined live information regarding fleets in an easy to digest format. Using fleet management software is more of an investment than an expense: with due diligence, the money saved on fuel, maintenance, and safety make the systems pay for […]
In the previous month of February, Alabama was hit with flooding and a State of Emergency was declared. It seems with the new month, natural disasters are heading north to Tennessee, where a tornado hit Nashville in the first few days of March. Like with Alabama, a State of Emergency has been declared that suspends […]
If you have read any article about the transportation industry in the past few years, there is a high chance you have heard about a trucker shortage. Even the American Trucking Association (ATA) has been on record to say that there are not enough people hauling freight. “Over the past 15 years, we’ve watched the […]
Tires without air might not just be a luxury for push lawn mowers anymore. Bridgestone was at the 2020 Technology & Maintenance Council Annual Meeting and Transportation Technology Exhibition in Georgia. It announced that it was working on air-free tires for trailers. The design, shown below, is most likely patented with its unique design of […]
This February has been a tumultuous time for the state of Alabama. The state has been overrun with rampant flooding. Governor Kay Ivey has declared a State of Emergency. This will temporarily suspend regulations that can get in the way of providing victims with proper disaster relief. “The significant amount of rain that has fallen […]
One consistency in the trucking industry that seems to be as common as the sun rising in the east is that February is the month of the year with the lowest national average spot rates. In a way, it is refreshing to see the average rates in mid-February be only a slight drop, with just […]
Trucking is a dangerous job. According to the Bureau of Labor Statistics, the transportation industry has the second highest fatal work injury rate per 100,000 workers (14), behind only agriculture, forestry, fishing, and hunting (23.4). Additionally, transportation and warehousing has the second highest amount of non-fatal injury rate per 100,000 workers (4500), beaten again by […]
Buying a semi-truck, whether you are buying it for yourself in the jump from company driver to owner-operator, or for an employee as you jump from owner-operator to fleet owner, will be one of the biggest decisions anyone makes in their trucking career. It is not a decision to be taken lightly. It costs money […]
Navistar officially started progress on spending $125 million to expand its engine manufacturing plant in Huntsville, Alabama. They held a groundbreaking ceremony on February 11th, 2020. They also hinted that they will use the new space, to build their own powertrains, cooperating with Traton Group to make this a reality.Navistar International Plant ExpansionNavistar Big Bore […]
Though USMCA may sound like the acronym for an offshoot of the Marine Corps, in this context it stands for the United States-Mexico-Canada Agreement. The shipping of goods between the United States, Canada, and Mexico is bound to affect the trucking industry. History of the USMCA Before we understand USMCA, we must first know the […]
We here at TopMark Funding covered WEX fuel cards as one of the best fuel cards in the market, but it appears there is a downside to being the most popular fuel card in the country. On the night of February 4th, 2020, WEX cards were not accepted at diesel pumps across the country. Hitting […]
In early 2019, Volvo Group, the parent company of Mack Trucks, started mysteriously posting job listings to hire engineers in the Salem/Roanoke area of Virginia. Volvo declined to comment about the job listings other than to say they would fulfill “future business needs”, but Jon Harris of the Morning Call predicted that Mack Trucks may […]
To many in the trucking industry, a semi-truck that gets 10 miles per gallon (MPG) at a full load seems like a fantastic pipedream. Of course, in the early years of the trucking industry, when trucks received 2 to 3 miles per gallon, the idea of 5 miles on a gallon of diesel also seemed […]
In our last article, we talked about the change in total revenue and weight hauled over time in the trucking industry. To compile that data took deep-diving into the American Trucking Associations’ article posts, years into the past. Today, we at TopMark Funding are saving even more time than before, going deep into DAT Solutions’ […]
In an earlier article, we discussed the credit statistics of owner-operators who apply for credit and the connection between FICO score and the likelihood of an owner-operator getting the deal they want. We are going to ramp things up this time around and compare the credit and funding of owner-operators versus fleet owners and see […]
Amazon Vs the Trucking Industry Free two-day shipping was just turned into free one-day shipping. It seems almost too good to be true, but it is what Amazon Prime is offering its members. While they were unveiling their new speedy shipping, Amazon discreetly unveiled their freight brokerage platform. You can see the new service at […]
Find The Best Loan For Your Business: The Basics Small business owners know the struggle that can possibly come with finding the best loan for your company. If you’re a business owner, you may have already attempted to go through your local bank to try to secure a loan. The result? Maybe you were hit […]
Gas prices. There are few things that can make you groan as much as passing by a gas station and seeing that high price tag on gas. If you run a semi truck or are looking to finance one, the same goes for you, but double. Big Rigs aren’t known for their fuel efficiency. Just […]
When you’re just starting out, the business world is a scary place. You have marketing plans, employees, insurance, money, and just about everything on your mind. Equipment financing should be easy and simple. And it shouldn’t be something that you skip out on due to fearing that it will take too long or […]
You’ve heard the news: the trucking industry is growing low on drivers. With life-long truckers nearing retiring age, the drivers in the field are starting to dwindle. Not only that, young people aren’t stepping up to replace the jobs of the retirees. Even with huge bumps in salary offered to them, the long hours […]
So you need a business loan. Hey, that’s a good thing! Your business is growing. It’s time to get the capital you need to keep the progress going. But you might find yourself a little bit stuck. What are the business loan requirements ahead of you? Maybe you don’t even know the first step of […]
What is the DRIVE-Safe Act? Is it necessary? Well, something’s happening in the trucking industry: fewer and fewer people are signing up. There’s a huge shortage of truck drivers that’s been steadily climbing, and doesn’t show signs of stopping. Drivers earn on average about 80,000 dollars. But still, no one wants to do it. The lifestyle […]
It’s something that no one wants to hear: gas prices are rising. Perhaps you’re fixing that tire on your bike or gearing up to buy yourself an electric car. But rising oil prices are affecting more than just your daily commute to work. For people in the trucking industry, almost their entire job is driving. That […]
There’s a new federal rule out there that’s making waves in the commercial trucking industry. The U.S. Department of Transportation’s Federal Motor Carrier Safety Administration, FMCSA, first proposed the rule in 2014. Even then, it was met with controversy. The law requires that anyone driving a commercial truck must use an electronic logging device, or an […]
It’s a four letter word that strikes fear and makes people’s stomachs sink, no matter who you are: debt. But there’s a big word that small businesses especially fear: bankruptcy. If you’re a small business owner and you’re looking at a lot of debt, this could be a reality that you’re trying to find anything to […]
The Big Question: Do I Buy New Or Used Equipment? When it comes to decisions for your business, you always want to make the most financially sound decision possible. Purchasing large equipment such as semi trucks can be an overwhelming decision unless you do your research. When you know exactly what to buy and have […]
Cash is king. This expression, some say a favorite expression of self-made billionaire Alex Spanos, can not be understated nor can it likely be disputed by anyone that has ever been responsible for running a business. This blog is going to discuss the consequences of businesses having a lack of cash and in what circumstances […]
