Archive for the ‘Making Your Miles Count’ Category

Being an Independent Operator is more than driving your own truck. It’s about understanding the business model, focusing on what is successful and keeping away from what is not. There are two very different business models in owning your own truck: Lease Operators and Owner Operators. The term Lease Operators has NOTHING to do with…

February is always a tight month for personal finances and sometimes business finances as well. Taking time off during the holidays and having a low cash flow in January will produce sacrifices in February. In the month of “tight-uary”, scrutiny of details is the flavor of the month. Individuals do it and businesses do it…

I had a client in my office today who was in a deep financial mess. Their $24k engine job that was done two months ago missed some issues and now it will cost an additional $40-75k (their quote not mine). I ran through their issues one step at a time and helped them evaluate what…

I had a client who received a pay statement a couple months ago. It had a handwritten note on it saying, “due to the current rate environment and costs, we have been forced to reduce the pay rate of your contract by nine cents per mile. We apologize for the inconvenience… blah, blah, blah”. Kind…

I’ve been in the accounting industry working with Independent Operators for well over 25 years. About twice a year I have an Operator ask me if they should put their new SUV into their Corporation. If I’m lucky (which would be BEFORE they purchase the $60k vehicle) I tell them NO. Not only should you…

As the trucking industry deals with lower-than-usual freight rates, carriers are using varying responses. The ones who have weathered bad seasons before knew what to expect. They had disciplined themselves to not overspend when they had the chance. But there were a lot of new carriers that came into the market in the spring of…

I’ve written for Over the Road Magazine now for 15+ years. This is the first time I’ve ever mentioned a carrier by name. The reason I haven’t is, I don’t wish to get openly involved in carrier bashing and/or propping. It’s safe now to comment on YRC (often known as Yellow) as this company, which…

Just because I’m an accountant doesn’t mean I’m immune from stupid financial decisions. I too have taken a few courses from the school of hard knocks. Overcoming personal stupidity is almost always a surgical affair. If correcting stupidity doesn’t hurt, this dumb action usually returns. Maybe not for everyone, but it does for the stubborn……