We wrote around fifteen months ago about how YRC Worldwide received a $700 million cash infusion to help survive the COVID-19 pandemic. Democrats in the House of Representatives now want to investigate the circumstances regarding that loan, saying that under the Trump Administration that some foul play may have been involved.DetailsThe Coronavirus Aid, Relief, and […]
If you have been following the news as of late, you will no doubt have heard about Southwest Airlines getting some PR. Flights are being canceled, delayed, pushed forward, and everything in between. While Southwest says this is due to weather hazards among other things, the likely culprit may be their recent vaccine mandate. Could […]
On October 13th, Joseph Robinette Biden Jr. announced that the Port of Los Angeles will commence 24/7 operations for the foreseeable future.DetailsThe news comes after the Port of Long Beach announced that they would be incurring 24/7 operations to help clear the backlog of ships and containers. The two ports, brothers to one another, handle […]
Come November 8th, getting a Commercial Driver’s License (CDL) will be ever so slightly cumbersome.The Federal Motor Carrier Safety Administration (FMCSA) will require state driver’s licensing agencies to check the Drug and Alcohol Clearinghouse before issuing, renewing, or upgrading a trucker’s CDL.The ProcessFew would argue against keeping drunk or otherwise intoxicated drivers off the road. […]
“This is, of course, provided that the Semi is not delayed a fourth time,” we wrote in a previous article about the Tesla Semi. It appears that has just happened, as Elon Musk announced that the electric vehicle company is struggling in the supply chain shortage wars.DetailsThe news comes from a shareholder call from Thursday, […]
The Advanced Clean Transportation (ACT) Expo happened near the start of September. Normally we write about the trucking industry, but we provide business financing for all types of equipment, equipment that the ACT Expo had in spades that makes us excited for the future. From conventional day cabs to commercial cargo bikes, here is the […]
If you have been in the trucking industry for as long as we have, you are aware that prices on trucks, new and used, are going through the roof. Skyrocketing prices are attributed to global shortages of various components such as rubber and aluminum, but most notably the semiconductor (chip) shortage. In the 21st century, […]
The House of Representatives appears to be much less interested in spending money than the Senate. While the Senate passed a bill authorizing $1 trillion in spending for infrastructure, the House Committee on Transportation and Infrastructure put forth its portion of the 2022 Budget Reconciliation Bill. It has $60 billion set for infrastructure and carbon […]
The confirmation hearing, taking place on September 22nd, is expected to result in a positive confirmation for Meera Joshi. Assuming she is confirmed, the Federal Motor Carrier Safety Administration (FMCSA) will have its first official administrator since Ray Martinez two years ago. What does this mean for trucking? More of the Same Joshi has been […]
The trucking industry is none too happy about Biden’s proposed vaccine mandate for private companies with more than 100 employees. This mandate would require all employees for a trucking company, from the drivers to any mechanics or recruiters, to either be fully vaccinated or take a weekly, uncomfortable test to confirm negative results. Lawsuits are […]
Joseph R. Biden announced on Thursday that the United States was going to take stronger steps towards combating the coronavirus by making the vaccine a requirement. The announcement has not been popular. Details The Department of Labor declared new regulations to be added soon, requiring all employers with 100 or more workers to either vaccinate […]
With Original Equipment Manufacturers now allowing orders for deliveries set in 2022, the floodgates have opened. August 2021 was one of the best months of the year for Class 8 truck orders.DetailsFTR has the net number estimated at 39,400. ACT estimates orders at 36,900. Whatever the actual number is, both research companies are confident that […]
The interesting thing about news in contrast with government is that news moves fast while government moves slowly. In the past few days, more states have entered the fold of declaring a state of emergency due to Hurricane Ida, bringing the total number to seven. Details The first declarations were covered previously, so we will […]
Things might finally be returning to normal, as an event in the trucking industry was canceled for a reason other than COVID-19. NTEA The National Trucking Equipment Association (NTEA) has decided to cancel its 2021 Truck Product Conference. Usually at these events, industry leaders show off technological upgrades such as making the truck chassis slightly […]
Neeley Keeny stops his tanker truck in Clovis, California. He fills up 2,500 gallons of water for about a fifth of a cent a gallon. He drives it northwest about one hundred miles and sells the payload for about $350. Minus the five dollars he spends to fill the tanker, a round trip nets Neeley […]
Governor Andrew Cuomo may be on his way out the door due to resigning amidst sexual harassment allegations, but that is not stopping Mother Nature from threatening havoc. By the time you read this, Tropical Storm Henri should have hit the New York shore. Experts have Henri pinned at a tropical storm of wind speeds […]
In what we hope is the last time an event is canceled due to COVID-19, Freight Transportation Research (FTR) has announced that it has canceled its 2021 FTR Transportation Conference in hopes of reducing transmission of coronavirus.DetailsFTR is most notable for its monthly approximations of truck and trailer sales for each month, but they perform […]
Many states in the nation are not getting enough water, but for others it may be too much. Colorado has experienced torrential rainfall in the past week, causing massive mudslides in Glenwood Canyon.
In the latest update of the AB-5 saga, the California Trucking Association, disgruntled with the 9th Circuit Court’s ruling on Justice Roger Benitez’s injunction on California Assembly Bill 5, hopes to take the fight to the Supreme Court.
The I-40 Hernando de Soto Bridge, closed in May and diverted in June, is set to be reopened for travel across and under it by the time you can read this article.DetailsThe Hernando de Soto Bridge, connecting Memphis, Tennessee and Arkansas, closed down in mid-May when inspectors from the Arkansas Department of Transportation (ARDOT) found […]
Some causes are worth continuously fighting for. On the 22nd of July, Senator Todd Young (R-IN) introduced bill S.2435 co-sponsored by Senator Ben Cardin (D-MD) to repeal the Federal Excise Tax (FET) on new heavy-duty truck purchases. This is not the first time that the FET has been under scrutiny, but with senators behind it, […]
It should not be a surprise to anyone that governments tend to be lazy, even with each other. Federal regulations call for states where drivers are convicted to transmit conviction data to the state where the driver is licensed either electronically via Commercial Driver’s License Information System (CDLIS), or by mail, but not both. The […]
Anyone who has been in the trucking industry for longer than a year knows that demand for trucks (new, used, and components) is rapidly outpacing supply, at least for the short term. What better time to leverage your position than when you are needed most? Whether that was their plan or the timing just happened […]
All good things must come to an end. For trailer sales, which wavered at the start of the coronavirus pandemic but came back with a vengeance in June 2020, it appears that the skyrocket has begun to run out of fuel.The NumbersFTR and ACT Research are very close in their estimates this month, at 11,000 […]
Remember last year before the COVID-19 lockdowns hit and there were shortages of hand sanitizer and toilet paper. The trucking industry was there to make deliveries, but now that the hand is on the other foot, toilet paper is not coming to save us. Supply Shortage First it was a new truck shortage. Then there […]
On Thursday July 8th, Transportation Secretary Pete Buttigieg, Labor Secretary Marty Walsh, and Deputy Administrator Meera Joshi of the Federal Motor Carrier Safety Administration (FMCSA) hosted a roundtable to discuss trucking employment. Trucking Employment: Retention Versus Recruitment The “shortage” (the economic law of supply and demand impacting market rates and therefore carriers paying a premium […]
It should be no surprise to members in the trucking industry that whenever an “event” happens, regulators relieve some pressure to allow drivers to get their job done more quickly. In just the past eighteen months we have had hours-of-service exemptions for: Novel coronavirus-19 (COVID-19) nationwide. Wildfires along the western coast. Cold snap for states […]
Since at least June 2020, each month of truck sales has been higher than the same month the year prior. We are now entering the anniversary of the “skyrocket” phase of the COVID-19 pandemic, where a delay in demand reared its head, so it is hard to say how long the streak will last. For […]
Were you aware that each month, the Federal Motor Carrier Safety Administration (FMCSA) publishes data of violations entered into their Drug & Alcohol Clearinghouse? With the program in motion for almost a year and a half, here are the most interesting bits of information. Clearinghouse Details To read the reports, including for months prior, go […]
It has been about a month and a half since the Hernando de Soto Bridge closed connecting Arkansas and Tennessee over the Mississippi River. While repairs are still underway, the Arkansas Department of Transportation (ARDOT) is using some tricks of the trade to reduce the impact this closure has on the trucking industry.Traffic ControlHow much […]
We have written extensively on our thoughts about fuel taxes; here is a summary: while not fun to pay, it is by far the most efficient way to pay for roads based on use, and as such an increase is a necessary evil. Both political parties disagree, but perhaps nobody is more opposed to an […]
On June 11th the Department of Transportation (DOT) released what it calls its “Spring Regulatory Agenda”. It lists the goals of the DOT for the foreseeable future. It also lists what division of the DOT is behind making each particular goal a reality. While the Federal Motor Carrier Safety Administration was not listed, it still […]
It should be no surprise to anyone who works with us that truck demand is through the roof this year. So much so that trucking companies who normally purchase new are attempting to find solace in the used truck market. While used trucks are cheaper, their prices are on the upswing.
While the governor of the Constitution State has not yet signed the bill into law as of the writing of this article, Ned Lamont has already expressed his support for a miles tax on heavy trucks traveling within Connecticut’s borders.
Another quarter, another announcement regarding the pandemic. The FMCSA has announced another extension to the hours-of-service (HOS) exemption for the hauling of goods related to the coronavirus state of emergency. Details The declaration can be read in its entirety via the FMCSA’s website. It follows the standard procedure for the exemption, with no modifications or […]
Traffic is a silent killer, and if Congress wants to save lives and bolster the economy, reducing traffic is a way to do both of them at once. The American Road & Transportation Builders Association (ARTBA) compiled and analyzed data from the Federal Highway Administration (FHWA), and found some interesting details on the effect that […]
American Trucking Simulator is a mostly realistic computer game, but it allows for a lot of trucking fantasies that would never be obtainable in real life. One of our favorites is smashing on the accelerator while traveling downhill on the 80 from Truckee to Sacramento, hitting 102 miles per hour and almost doubling the speed […]
Correction: An earlier version of this article stated that biodiesel and renewable diesel created emissions at a rate 1/3rd of electricity. This is incorrect. The correct metric is that biodiesel and renewable diesel are responsible for 3x more metric ton credits from greenhouse gas reduction than electricity is, based on the Low Carbon Fuel Standard […]
The Colonial Pipeline is back up and running at approximately 80% capacity, with full capacity to return soon. With the worst of it behind us, now is a good time to reflect on what we can learn from this gas shortage debacle. The Words of George Carlin Most people might think of George Carlin as […]
Do you enjoy crumbling infrastructure? Hearing about backlogs of roads and bridges that need proper maintenance to avoid catastrophe?
Historically, reefer trailer hauling has been the most revenue-generating form of freight, and it is not hard to see why. Running a reefer requires additional diesel to keep cargo at adequate temperatures, an expense that factors into the price per mile for the freight. We live in unusual times, however, and for at least a […]
Nine months ago we wrote about how the case of CTA v. Becerra had an injunction on it, allowing owner-operators to continue leasing under another trucking company’s authority. Now, over a year since the injunction was first placed, it appears the end may be in sight. The ninth circuit has ruled that AB-5 is not […]
It appears as though every single bill relating to trucking that died in the halls of Congress in 2020 is making a comeback for the new year. The latest one is the Improving National Safety by Updating the Required Amount of Insurance Needed by Commercial Motor Vehicles per Event (INSURANCE) Act of 2019. Despite its […]
On March 31st, the office of Joe Biden released the details for the American Jobs Plan. The entire infrastructure plan press release clocks in at almost 12,000 words. Reading it is a time-consuming project, but if you want to, you can view it on the fact sheet webpage. For those who have better things to […]
2021 is the new 2020. While many bills related to the trucking industry died in the legislative process in the previous year, many of them are getting a second wind with a new Congress and White House. One of these is an attempt to resolve the perpetual problem of truck parking, a problem that was […]
The way things have been, a fuel tax of 18.4 cents per gallon of gasoline and 24.4 cents of diesel fuel have been used for the Highway Trust Fund. These numbers, unchanged since 1993, are not enough for the infrastructure needs of the country.
TopMark Funding is located within view of a highway, and do not think we miss the heavy-duty trucks that come by! We see all types of trucks traveling on that road, from flatbeds carrying tubing to trucks hauling almost 80,000 pounds of tomatoes in an open-faced trailer.
The general procedure of receiving a coronavirus vaccine, as it is now, requires the patient to be a member of the eligible phase (currently 1a, 1b, or even 1c in some states), and prove they are a citizen of the state distributing the vaccine.
On March 10th, the Federal Motor Carrier Safety Administration held its 20th annual Analysis, Research, and Technology (ART) Forum, and the first under the Biden presidency with a new change of officials. ART is used to discuss how technology is used to fulfill the FMCSA’s goals, namely minimizing truck crashes, and was especially fitting because […]
We usually only post about the freight rates when DAT has solidified the numbers, usually a week after the month has passed. We have made exceptions for notable changes in freight rates, and here is another one. While we are only a little bit over halfway through the month, DAT is estimating freight rates to […]
It only takes hitting one pothole on the road to understand that United States roads are an infrastructure investment that nearly everyone supports. But with such bipartisan approval, roads continue to remain in states of disrepair. The American Society of Civil Engineers (ASCE) grades different aspects of infrastructure in the United States, ranging from aviation […]
The winter months after the holiday season are generally the slowest months of the year for the trucking industry, so it may not come as a surprise that the preliminary numbers from the Bureau of Labor Statistics (BLS) that employment numbers in the industry are down. The Numbers Preliminarily, the BLS pins the total count […]
For the month prior, truck sales were either great or bad depending on if you looked at the increase from last year or last month, respectively. With February, truck sales have increased no matter the angle.The NumbersAccording to Freight Transportation Research (FTR), 44,000 Class 8 trucks were sold in February. This is a tiny 3% […]
The American Transport Research Institute (ATRI), known for its annual trucking surveys, has released its list for the worst trucking bottlenecks in 2020. The Department of Transportation hopes to use the information to better allocate spending dollars to critically-needed infrastructure. Here are the details and results of the endeavor. Methodology ATRI collected and compiled GPS […]
Approximately two weeks ago, we predicted that the Tesla Semi would not come out in 2021. This was not based on any confirmation, but a hunch that the streak of delaying the Semi’s release would continue. While the Tesla Semi is still slated for a 2021 release according to the company, it has hit a […]
ACT and FTR differ on their numbers for Class 8 truck sales by a few hundred each month, but their general messages are the same. This prior month’s message being that the trucking industry is cooling off from the holiday season, but still shows promise of being on fire.The NumbersACT has sales for January set […]
A little over a year ago, we wrote an article predicting how 2020 would go for the trucking industry. In the vaguest and broadest of terms, we were correct. Freight rates were on average higher than in 2019 (albeit slumped in the spring), and truck production did stall (though not because of a surplus of […]
A few days after election day, we were hesitant to officially call for Biden’s election victory due to numerous fraud allegations and lawsuits for the time between election day and inauguration day. But, all of that is behind the country and by the time you read this, Joseph Robinette Biden Jr. should be sworn in […]
Hourly pay seems like a crazy phenomenon for the trucking industry, where per mile rates rule the road. Per mile pay seems like the better solution on paper: fleet owners can find the number of miles that need to be traveled, multiply it by rate, and then figure out the payment due to the driver. […]
While Elaine Chao has resigned from Secretary of the Department of Transportation by the time you read this article, one of her last acts was to order the DOT to create and publish what it calls the “Automated Vehicles Comprehensive Plan” (AVCP).It is no secret that self-driving trucks are still far away from becoming reality, […]
Even if you have never heard of the SAE J560, there is an extremely high chance that you use one. Originally issued in 1951, the SAE J560 is a seven-pin connector that sends power from the truck tractor to the trailer. This gives power to lamps and other various devices for the trailer. As trailers […]
Savvy readers might remember that we analyzed a list of the best and worst states in which to drive at the start of this year, and how we voiced our concerns about the weight metrics being less than fair. For example, average gas prices were 12.86% of the grade for a state, while bad driving […]
Under the current system of rules, third-party companies such as private truck-driving schools could not be both the trainer and the examiner for a driver. The Federal Motor Carrier Safety Administration (FMCSA) plans to publish a Final Rule in the Federal Register changing this. The new regulations will make it so that the trainer and […]
We wrote about what a Biden presidency would mean for the trucking industry in mid-November. In that article, our first point was that the Secretary of the Department of Transportation (DOT), Elaine Chao, would end her nearly four year term by being replaced. You have read the title of this article, so you know who […]
Hopefully this will be the last coronavirus article we at TopMark Funding will ever have to write, as the coronavirus vaccine has been authorized for distribution and application nationwide. But COVID-19 does not plan to go down without a fight, and as one last hurrah, it may just make the holidays a little more difficult, […]
The trucking industry is on fire (in a good way). Freight rates are the highest they have been in recent history, the Outbound Tender Volume Index is on the precipice of breaking new records, and new truck sales numbers just keep growing. All of these individually are great, but combined they bring forth a new […]
As the coronavirus vaccines are finalized and become ready for distribution, the question remains as to who gets the first round of doses. The Advisory Committee on Immunization Practices (ACIP), an arm of the CDC, recently reached a nearly-unanimous vote on Monday approving a three step plan for vaccine distribution:Phase 1a: Healthcare workers and residents […]
While the winner of the 2020 election is not yet set in stone due to recounts, lawsuits, and accusations of fraud, it is hard to deny that the likelihood of becoming president has shifted into Biden’s favor. Strongly enough, in fact, that it is worth speculating what the shift in power would mean for the […]
It has been almost a year since the FMCSA instituted the Drug and Alcohol Clearinghouse, which means that the deadline for running a limited query for all fleets in the nation is rapidly approaching. Here are the details of the regulations and why you should have the query done for your fleet, whether it’s a […]
The American Transportation Research Institute (ATRI) released the results of its 2020 survey asking stakeholders in the trucking industry their thoughts on things that impact the trucking industry. Their report is a very insightful 26-page behemoth of knowledge, but for our reading base, primarily of truckers who would rather spend more time on the road […]
On October 23rd, Federal Motor Carrier Safety Administration Deputy Administrator Wiley Deck spoke at the American Trucking Association’s (ATA) virtual version of its Management Conference and Exhibition. The event was turned into a virtual one this year, due to the coronavirus pandemic. Here is what he spoke about. Under 21 Drivers With the trucking industry […]
When a truck driver hears about laws and regulations determining the difference between an independent contractor and employee, the first thing that may come to mind is California AB-5, one of the strictest standards in the nation for determining employee eligibility. At the federal level, however, the Department of Labor (DOL) wants to revise their […]
When it comes to electric vehicles overall, even beyond electric heavy-duty trucks, two major problems impede mass production and adoption: range and refueling. We have written extensively about the first one, and automotive and tech companies work around the clock to increase the number of miles an electric truck gets on a single charge. The […]
You might remember how the Federal Motor Carrier Safety Administration (FMCSA) allowed a single company, Groendyke Transport, to add pulsating amber brake lights to the rear of their tanker trucks. You might also remember that rear-end collisions dropped over 33% for the tanker trucks equipped with them. Finally, you may recall that the FMCSA was […]
If you have been following the news regarding the coronavirus pandemic, you may remember two things:The hours-of-service exemption was extended until the end of 2020.Other exemptions, such as the CDL renewal, CPL renewal, and medical certification renewal, were provided.On September 18th, the Federal Motor Carrier Safety Administration (FMCSA) combined the two and made it so […]
On September 22nd, 2020, Tesla shareholders gathered in Fremont, California to hear the latest from Elon Musk and Tesla Senior Vice President of Powertrain and Energy Drew Baglino. Sitting in their cars to social distance in the era of COVID-19, shareholders learned the latest technological advancements to Tesla’s vehicles. The most interesting of which is […]
It does not take a trucking expert to understand that hauling double trailers takes a lot more skill and finesse than a single. How can drivers haul more freight while reducing crashes? The state of North Dakota plans to have its legislature discuss the topic in January. The Great Debate The way things are now […]
Pollution is bad. Nobody would reasonably argue against this. Anyone who lives in or has recently driven through TopMark Funding’s home state of California can see the dense smoke haze covering the state, giving headaches to anyone foolish enough to go outside without a face mask for even a small handful of minutes.How timely it […]
The Federal Motor Carrier Safety Administration state of emergency has been extended for another month. This is the fifth extension, set to last until September 14th, but may be extended yet again.Changes MadeYou can read the declaration in full on the FMCSA declaration’s webpage. In summary, the exemption for hours-of-service has been extended, with a […]
Here at TopMark Funding, we wrote about how we believed the coronavirus pandemic was ending soon. That article is almost two months old at this point, and the pandemic continues. The interesting thing is that despite all of the fear of the coronavirus pandemic for the past five or so months, the trucking industry continues […]
The demand for new trucks in 2020 was not reduced from the coronavirus pandemic, merely moved forward in time. According to Freight Transportation Research (FTR), North American Class 8 sales in July was approximately 20,000 units. That is 28% higher than in June, and to compare apples to apples, double the orders from July 2019. […]
If you have been in the trucking industry long enough to have bought a truck, you know about the Federal Excise Tax (FET), a tax that was implemented in 1917 to help finance World War I and has been chugging along ever since, for well over a century by now!The FET adds 12% to a […]
Currently, the FMCSA and its clearinghouse only accept urine tests for drugs and alcohol in its 50% random testing requirement. Now, safety experts are advocating for using hair testing instead. Is it a good idea to adopt this new method? There are tons of arguments for it, and one big argument against it.Pro: Ease of […]
If you are a trucker that keeps track of anything related to regulations, you know about the FMCSA’s ELD Mandate. As of December 2019, all non-exempt trucks (exempt trucks including ones that tow other cars, among others) are required to have a compliant electronic logging device (ELD) to track various factors of driving data. The […]
Operation Safe Driver Week is now upon us. While law enforcement such as highway patrol and the DOT as a whole will be extra careful to track driving habits of commercial vehicles. Come the 20th of July, there is a chance we will all be back to normal levels of enforcement, as if the week […]
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, […]
At TopMark Funding, we mostly like to report on the facts when it comes to the news and allow our readers to reach their own conclusions. The recent news about the Investing in a New Vision for the Environment and Surface Transportation in America (INVEST in America) Act may leave truckers worried about how it […]
