CEO Of Freightwaves Exposes The Truth & Says That More Trucking Companys Will Shutdown 😵
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- เผยแพร่เมื่อ 7 ก.ย. 2024
- CEO Of Freightwaves Exposes The Truth About His Family Company US XPRESS 🤯
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Thoughts?????
Who should I interview next????
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Boss lady
Brad Pinchuk of Hirschbach he’s trying to become the top reefer carrier in the country
Interview the former CEO of Yellow corporation, and ask him why he took a $50,000,000 bonus and a $76,000 severance but screwed over the drivers
th-cam.com/video/ksiN1vPiTbQ/w-d-xo.html
Get with Miranda. I think she is an expert on how the market is
Keeping it real. Ken snyder
Jerry moyes would be a great interview
I've been saying for the longest time that there are WAAAAAAY too many trucks out on the roads. Every time I hear someone say something about a driver shortage, I immediately tell them, THAT'S BOOOOSHEET!!!
Yes your spot on my friend. I've been in trucking for 23 years , I've heard that driver shortage every I've been in it, I've always said the driver shortage was BS
Everytime I hear shortage, all I hear is an industry wanting to pay less.
That's not the only factor consumer spending is in the toilet and people are losing their jobs plus inflation it's a sh#@t show
@@cd3443Facts, Americans losing jobs but immigrants getting hella government assistance
There more jobless drivers than trucks out there indeed
Respect this guy for coming on. He knew some tough questions had to be coming.
Yeah. 💯
Crazy for a ceo to publicly come out and say his brother took the family business to the dump… But I can relate.
If there is one thing that doesn’t exist in Trucking/Logistics here in the USA is transparency! In Europe and Africa carriers deal directly with shippers! You move their loads from A to B they pay you bi-weekly or monthly! You don’t have to wait to get paid in three months or to pay them 3% for quick pay for money you earned! Here in USA you have brokers, factoring companies…! Literally small trucking companies do the hard work and brokers/factoring companies get paid for being mostly crafty in business!
It sounds like his brother is lost in life. If you're not thinking about generational wealth, he deserves not to have anything. Never betray your brother or family. That's priceless. I will definitely keep up with this guy, his very intelligent ...
The problem is it's too many foreign drivers. And another thing why he got fired?..got to be a reason
Yes I agree with the foreign drivers and yes I’m tired of it I really am 😂
Yup. All I see these days.
The biggest killers of trucking are cost….Fuel,tires,parts,EPA added costs (huge),taxation,and employee demands for benefits/wages due to high inflationary effects….Most don’t know or even care,and they should….The increase on all of these has been phenomenal….100 to 200 percent,non sustainable,and passed on to the consumer for the companies that do survive….Enough of the lies and deceit,this is the bottom line truth,and it affects every single person….Everyone
No one needs to be a CEO of anything to see what’s going on in the trucking industry
The powers that be find it easier to control 1 or 2 large trucking companies versus 1000's of carriers. Same with banks, same with all manner of production.
General knowledge isn't worth shit though. All big industries rely on the details, the stats, the analytics. That's why this guy was able to grow his media co. First one this size in trucking I bet!
U S. Xpress turnover rate was insane.!
It's that damn Dollar Tree account. It's hell!
I thought they made around $400/day.
@micclay you unload 4000 boxes by hand a day. 5 to 6 stops. They got 2 or 3 people helping while you are by yourself. It's 130 degrees in the back of that trailer. It isn't worth it. It's about 1700 after taxes. They've been slow so you're lucky to make anything now
@@micclaywhen I ran it, I never broke 200 a day
@@micclayhahahaha your a bum
One of your best interviews yet. Truth is, those who came in when it was good. Just need to get out. You made your little money but you're driving the rates down right now out of panic bidding.
Appreciate you
Thank you sir,,this was a really great interview. You let Craig do the talking, and he seemed really genuine telling it like it is in the real world of truck loads. I will follow this .
Appreciate you
One thing that could help with double brokering is to require shipper and receiver to list who the broker and the carrier is on the BOL. Or if it’s direct freight then that would be on BOL also.
I disagree with what he said. Political answer with regard to the rates and people loosing the business. No that not entirely correct. Let’s talk money. Everything every item has going up in cost. While rates decreased. BS the brokers have gotten greedy and so have possibly some shippers with instilled behaviors. Everyone is cashing in except the carriers. Period!!!
Seems that wat across every industry now. Big corporations making record profit and then claims they don't have the money to pay for anything or their employees.
You're right
Just curious how many trucking entities can knight/swift purchase and own before it's considered a monopoly? At this rate there will be three trucking companies, three railroads and three airlines, just was curious if anyone knew.
Who knows, they might eventually get so big that they collapse under their own weight.
@@RiZenAsH it’s not going to happen
I think as long as they keep different names they can get by with it.
That's what the Powers to be want. They will have better control over the money that way.
@@ddavis186you nailed it
Thanks for the transparency❗️🙏🏾,,,,God bless all the truckers.
Always
He seems like a solid guy. I drive past freight waves everyday otw work.
You should interview the DOT officers at the Banning scales!!
He’s actually probably right even with our trucking business. My husband and myself are owner operators and we only have two trucks. We haul gravel and the company that we haul for my husband also works for them as their truck driver. They make manholes and big pipes and big boxes that go onto mines, etc. in the gravel that we bring. They mix with resin to make their product anyway, lately they’ve had another trucking company bringing in gravel as well. They are a much larger company and those motherfuckers are getting the loads for only $1000 from Vegas to Phoenix which is craziness there’s no way they’re making any money on that load. We’re spending almost $500 a day and fuel alone!!!!! That’s not counting maintenance parts insurance, Ifta, and all the other shit that goes on with trucking. We are charging $1500 a day and this week they only gave us three loads but they gave the other trucking company two loads. We’re starting to get a little worried because we’re afraid that the owner is going to decide to go with this other company. So far he hasn’t because my husband has been working for him for 20 years. They also owe us a lot of money and we don’t make them pay by the day like the other trucking company does. But pretty soon I’m gonna put my foot down and tell him no more loads until he pays up.
Good for you
Don't wait to get paid!, I understand you guys have a 20-year relationship but this is business it is what is owed to you guys. You need to get paid for the work already completed. Like you said he hasn't cut you yet but I would rather have the money he owes me and be cut vs being cut and still trying to fight for money owed.
@@MiguelHernandez-lv2dh oh yeah, this is a fight me and my husband keep going in circles about
Hi, sorry to hear about your situation. I've been in the industry for several yrs now. My 2 cents: I would continue to take loads from that customer as long as he's not adding to his debt w/ u. But I'd also be looking for new customers and focus on that big time. In my opinion, if you ask him to pay up and do no new work, he'll have a really good reason to end business w/ u. (I'm speaking money-wise on his end, not saying its fair). You'd then have to try to collect on the debt but also be out of that work prob 100% bc of that other competing co. Best of luck!
@@MuthaTrucker Why did u say that? I fully support your channel. Have for a few years. Never expected an answer like that from you.
I like the format that only the camera is on him. Not the interviewer. Good way to focus on what he/ or she has to say. Very educational and informative!!!
Appreciate you
Biggest lesson I heard in this is don’t go broke you wife will leave😂😂
🤣😂🤣😂
Yep, when the money runs out they leave.
Them hoes gonna leave regardless if you go broke. Your days are numbered fucking with women.
@@bigwhitey3073 Not mine😂 owned 2 trucks went bankrupt and just contracted now..making better money
@@dannyrankin3366 well you must have a tongue like a great dane then
Big business talk!!!
It's no big deal double brokering,bankruptcy thats just business..thats how they feel. just have all your equipment payed for and just park them like I did.
Year 2000,2010 now 2023
Great interview and I have a lot more respect for Freight Waves now. Thank you
How do rates go down, yet fuel prices and operating expenses are rising? It doesn’t make sense.
Part of the reason is people are driving more aggressive and in a rush. Drivers who speed, weave through traffic and break HOS rules help "water down" the work. If 3 trucks work 16 hours and speed, do I need a 4 or 5 driver? Since the 3 are getting it done, do I need to pay more to attract the 4th or 5th Drivers?
Thanks for your support and commitment to the trucking community you do this on your own dime and time we appreciate you for the muthatruckers channel...
Love the insight Alex. Very informative guest. Would love to buy another truck, just don't think it will happen. Gonna take my money buy a boat and pick up a local job in Florida where i can liveaboard.
To many trucks and over seas company in America. Need only American trucks and company with American drivers. To many brokers been saying that for five years
mixed bag, brokers are still hogging the rate con and carriers aren't fighting for the rates to go up either. take a look at the dat volume. we are at the bottom in alot of areas. but rates will not go up even if fuel hits 5$/gal
Managed a US Express Shop... That place was bizzare. I left before I finished a year !
Why doesn't the government limit the trucks from outside the country to just 100 mile range in the states until we get the freight volume back to a level where the market can support the trucks from other countries
Yellow was the connector of the Trucking industry now it’s about to get real ugly out here. I’m an independent and have been doing this since 2006 and I never seen this in my life because the freight is terrible and things are so high you can’t even afford to buy toilet paper to wipe your ass.
Wow took 20 years and 25 trucks only to come up with $400,000 savings? I did three and a half years woth 3-6 trucks on the west coast 2012 to 2016 with local drayage and was able to save $170,000. I guess over the road is tough. And I doubt that it's worth a headache all those stupid trucks. No thanks. Three trucks for me that's plenty.
I worked for that trash company as a rookie. No miles and low pay. Forgot to write something on your trip pack? You won't get paid. More but ....... I won't recommend anyone to them.
What it say is you got companies like super ego that have no issues booking loads at posted rates or less because they just skim of that then give to the driver that will probably quit after a month and then the process repeats itself over and over.
This was one of your better shows very educational thankyou
Appreciate you
25 yrs ago US Xpress was everywhere within the last 10 yrs i dont see half of trailers that they had at one time
It was Eric, not Craig. Worked there for 12 years at Corporate Office. Place went too hell quick when Eric took over.
What was the downfall??
Yeah we want to know the downfall, the good stuff 😀haha for real tho'
Every truck company I know will hire a good driver. I have watched driver after driver fail simple back up tests in the parking lot. There is a shortage of good drivers.
Bankrupt and divorced. Prayers for that man.
A US Xpress truck was in my shop last weekend. They wanted us to replace an inside trailer tire. My mechanics and Truck Service Advisor said they could literally hear the bearings on every wheel end on that trailer grinding. They jacked up both axles and took video showing that there was extreme play in the hubs and sent it to the company. They were told that it didn't look that bad. I told my guys that we would not touch it without fixing it correctly. US Xpress called another service provider who came on my lot without permission and changed the tire. That trailer was extremely dangerous to be on the road but apparently US Xpress doesn't care.
Stop in a weigh station and have that conversation with them. They can red tag it and US Xpress can't retaliate against you.
Dot could also put that trailer out of service.
US Express is probably used to shady mechanics trying to get one over on them by "Finding more things wrong" Good for them for calling another mechanic and getting it fixed and back on the road and bypassing whiners like you
@@justinethridge9157 yep.....
If you’re writing about this and close to any of these losers then you are a loser
I make no bones about it, I hate the American Trucking Association, they’ve been destroying the trucking industry for 40+ years, but it sounds like this guy should’ve been the one in charge of US Xpress… Seems like a smart guy, this is best of trucking interviews…
Alot trucking companies closing, Goverment buying them out. To move in their Electric Trucks.
Thanks great information 👏🏽👏🏽👏🏽👏🏽
Appreciate you
Eventually, all these big companies are going to merge. They are already pulling each others trailers.
At the end of day the trucking company depends on oil less oil less trucks less jobs
The price/supply of oil drives almost everything.
So, he didn't actually talk about another problem with the industry right now. With the operating costs continuing to rise, theres too many companies out there under bidding contracts and operating at a loss so they can try to jack the rates back to normal once they lock in a long term contract. Theres tons of smaller companies that have gone under either because a rival company underbid their biggest contracts, or they themselves under bid and went under before they were able get back to turning a profit
ATA is a bad thing for trucking.
F the ATA🤬 They say they are for truckers 😂 Bullshit!
"My father started U.S. express" which made me rich af. The story of almost every rich guy.
Craig fuller for got to tell you that the fuller family since selling us express. They got a 10 percent stake into knight-swift so they will still be making money.
I work in brookshire tx. I see 2 trucker parking lots being constructed.
Also men! If you're doing good in life, do not get married. It does not benefit you in any way. Once you lose everything you worked for you will lose that woman and even more.
Nice interview Alex definitely one of your strong points is interviewing skills. Well though out questions
I worked at Total of Ms before USX took over. It went from the best OTR job I'd ever had to the worst.
Saudia Arabia just announced to cut more oil supplies with mean higher gas prices
That means oilfield jobs in the US.
@@micclaynot with this current administration.
@@nasimwehbe8410 you might be right. They'd do anything to stop it.
We should get rid of opec already
The U.S. has at least 500+ yrs of oil in the Permian Basin alone. The Biden administration needs to go!
Thousands of trucking companies have went bottom up we can’t keep listening to the supply & demand analysis. Brokers are definitely robbing owner operators!
I drive by an equipment auction frequently. The number of truck they have staged is staggering.
ALL AROUND THE WORLD 🌎 ECONOMY IS CRASHING ...
Fuel prices are out of control that is one of the biggest problems we are facing also some markets get no fuel surcharge or so we are told
Well that would be Dick-Ridin Douchebag Biden Commiecratic Weaponized Stormtrooper Administration's fault people shouldn't have helped him cheat to win the 2020 Election just saying
5:07 I know is gonna happen in the future; there’s been a lot of truck drivers that I have hung up their keys already have a ton of truck drivers right now are not sure how long they’ll be able to be out here and there’s at least one more large company, I got a few hints, that will go under or out of business before Thanksgiving! For those drivers who are left after the mess is over with, are going to come out on the other side, stronger than anyone coming back in will be-
I've been fortunate and have continued to do well thanks to God. I'm piling up the $$ and waiting for the cheap trucks to hit the market to expand when the market turns
I left us Express in 2005. That started treating students and new hires way better than the old drivers. I was a trainer and when I was told I was loosing my new standard transmission truck for a new automatic transmission to train students. I stop training to keep truck. Then I was starved out ,800 miles a week. I was out of there
Alot of them need to go out. Its way too many truucks on the road
All these companies with driver facing cameras need to go out of business already, anybody who drives for a company like that is a simp
Soooo...the over saturation of trucks is causing a broker to negotiate a load for $9000 and the driver gets $3200? Or brokers pocketing the negotiated fuel surcharges? The over saturation of trucks is doing this to drivers?
Let's all smoke dope and get high until we're living in tents getting the living s--- kicked out of us by cops and partying even more in our tents.
Way to many foreigners here anymore. Look at what you have for drivers out here.
It won't be long until there are only 3 or 4 trucking companies, and trucking pay is going to be garbage. Just like every other industry.
In the 80s when I started rates were set by the ICC so there was none of this, but O/Os used to run loads on fake BOLs under the table at lower rates, shippers would go along with it. Today we have a dog eat dog market but it ain't nothing new .
This running freight companies into the ground is becoming a trend these days
Awesome interview and a great deal of pertinent information. Thanks Alex
Appreciate you
Another thing if u can develop your own product, that people need your money isn't all in the truck market, I buy sugar and then grind it in to confection sugar bag it deliver it to a few pot hotels in alaska. Easy money
This is just a symptom of a greater economic problem that's quietly unfolding.
I’ve been saying for a long time on youtube & though out our community that corporations greed,selfishness and government corruption will bring the most powerful nation to its knees!!!!
We need to regulate the amount of trucking companies that opens each year
Like yours. We should have made you wait till you deserved it.
@@teamdada2194yea why regulate the companies and not the brokers that pocketing 80% of the money
If I were in a jury and he was on the stand. I would say. He is a genuine individual and seems to be honest in his answers. Not guilty. . . I know some truckers and one of them is my in-law. He is a vet. Takes no crap and has his wonderful ass kicking boxer with him. (a dog) and he stepped aside rather than complain. Found other work, V.A. sent him for more education and he is happy. More should do the same.
Some truth,bottom line is the brokers are making the money,they are the middlemen and when you control the shippers and truckers ,truckers know your worth think about it
Alex!!! Keeping it real!
Brokers don’t regulate market 😂😂😂😂😂😂 answer simple question for me please: why brokers be very afraid of transparency?!?!?! WHY ?
I love how rates go down the price of fuel continues to go up😮💨
This is why I got into hauling specialized freight, particularly for me glass. Gives me better job security. As it takes a fair bit of knowledge, special equipment, and fabrication to get setup for hauling it. The company I'm with currently, I've been with 5 1/2 years now and enjoy it here. Smaller medium sized company, I think around 350-400 power units. Everyone I deal with over the phone or in person is friendly. My biggest complaint would be our fleet of trailers, in almost all divisions is aging and it's certainly showing. Got plenty of new tractors, but not fond of running around with 20-30 year old trailers. Especially when I'm hauling around 44-48,000 LBs of glass on rough roads and through the mountains.
I’ve been hauling gas for 20 plus years I’ve never been without work
And also if Yellow doesn't get back into the undustry. That feight will be more readily available to drivers and companies that are starving for more freight for their companies as well.
#1 there is no demand for self driving trucks!!!! There is too many trucks as it is! No damn drive shortage!
To add another note. Let’s talk about the elephant in the room. Drivers pave your own way. You are way more valuable then you know. US-Express. Who owns that company now. Is it Knight Transportation? The same Knight/Swift company that owns a bunch of other companies? A bunch and keeps them all separated. Paying drivers I think .46 a mile. That may consume the market and pays horribly. US Express is a victim of the empire. And no one talks about that company.
He just lied.... He said he hasn't worked at the company in 20 years and was fired in 2005. He later said he was fired in 2014 also.....
Yeah not sure how that makes sense...
The math ain’t math’n
“Hasn’t been part of it for 20 years” Okay so 2003, but fired in 05’ unless he rounded 18 years to the 20..?
@@ukayhemi6385 exactly
He never said which company he was fired from. Could’ve been working for his dad on a different project
@@pats9414 that's possible, it's just the way he was being vague and not really answering anything.... Deception in my opinion
It's not just too many trucks on the road. There are too many brokers ripping off companies. Bring true transparency to the brokers and watch the staggering results of the massive disportionate of percentage these brokers are stealing.
Thank you I've been saying the industry is oversaturated by to many wannabes out here cutting rates industry is unemployment line of America
And all of the immigrants coming in on the visa program... And now we have fully open borders, all future truck drivers. No winners here on the driver side or single truck owner operators.
@@michaelwright1602EXACTLY 💯 👏
@@michaelwright1602 that's why the industry is called the unemployment line of America
If u don't own nothing is hard to go broke. Pay cash
Im a driver for a small independent he has 3 trucks 2 of them are broke down the one I am driving is in need of repairs The freight we are pulling does not pay enough to keep up with basic maintenance and repairs of the trucks I've taken a cut and pay to help him keep this one truck on the road how much longer I can do it I don't know...hmm
Why don't he help with all the lawes being broke he's got the platform Frieght waves? Instead of you making money show some ethics on the trucking business that has made you millions put or give something back.
3rd generation and 35yrs on the road we just need a good 1970s kinda strike!!!
Interview a fleet/operations manager,or any good truck mechanic….They will tell you the real story
They stole a lot of drivers money i drove for them 1997.
US Express started at Southeast Motor Express or Southwest Motor Express...dont remember.
Great interview! 👍
Appreciate you
When the money is going so is the ole lady.
Great interview. I have been following Freightwaves since I started in trucking and believe every trucker should as well.
I lived in Chatta., TN. 20 years; sad to see earlier this year for USELESS XPRESS to capitulate and bow the knee to Swift/Knight. US Xpress was located in my neighborhood: Highland Park.
But like Werner; they have screwed more operators than they've dignified.
RIP !!
The difference between the two is Werner: Blackmailed by the DOT in the mid-80's to install ELD's or close their doors. The rest is history; including Werner's claim they are the Pioneer's of the ELD's from the 90's.
When a Renegade Company exceed's crash statistics over all others gets threatened to put ELD's in their trucks or shut their doors comply; are they really Pioneer's in the 90's when the threat came in the 80's ?
Come on !!
I remember us Xpress sat me 2 days because i wouldn't drive a trailer with no lights. Probably didn't help that i cursed safety lady out too. US Xpress was was the worst, lowest paying company I've ever worked for. They instigated the end of my career
Alot of big broker companies work together and double broker, it's just that they don't like it when it's not one of their own.
That was a very insightful, informative report.
Appreciate you 🙏
Thanks man for the info ℹ️, great job!
Appreciate you
Too many trucks on the road? That can't be right. Mainstream media says there's a tru kernel shortage, 80k short? What's the deal?