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Adam Miller, President and Jim Fitzsimmons, Vice President, Swift Transportation interview 9/14/23

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Contact Information:
Connect with Charley Mahon on Facebook: / chuck411
Connect with Jeffrey Morton on Facebook: / jeffrey.morton.560
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Are you a contractor or thinking about becoming one in the trucking industry? We invite you to join our exclusive community at WWW.RWEDRIVE.COM ! Here, you'll discover tips, tricks, and invaluable information to help make your business as profitable as possible. Whether you're just starting your journey into trucking business ownership or looking to optimize your existing operations, our community is here to support you every step of the way. On September 14th, during Driver Appreciation Week 2023, Charley Mahon and Jeff Morton of Contractors Corner Consulting group had a sit down interview with Adam Miller, President of Swift Transportation and CFO of Knight-Swift Holdings and Jim Fitzsimmons, Chief Operating Officer at Swift Transportation.
‪@Swift_Transportation‬
Topics:
Planning for the future
Owner Operators vs company drivers vs running the spot market
Current state of freight
is freight volume down
why are freight volumes down
why the trucking business is slow in 2023 and will it get better in 2024
Will trucking be automated without drivers
problems with autonomous trucks
will trucking switch to electric trucks instead of diesel
fuel prices and inflation
post covid parts shortages
why owner operators fail
why are so many truck drivers going out of business
is swift hiring drivers and owner operators
How to survive financially in today's tough freight market
will rates improve and how soon
finding trailers
shortage of parking at terminals
why do other carriers or outside contractors sometimes haul swift trailers
does Swift want more owner operators
difference between an owner operator and a company driver
equipment availability
is now a good time to buy or lease a truck and become an owner operator
covid aftermath
how soon will the economy improve
why do trucking companies diversify and buy other companies and how that benefits the driver
are we at the bottom and how long will the bottom last
rising costs
are there plans for swift to build the owner operator division back up
US Express
Power Only
Logistics
AAA Cooper
how to decrease volatility in the freight market
how expensive is it to get your own authority
freight volumes
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Опубликовано:

6 сен 2024

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Комментарии : 26

@justinmuniz3749 11 месяцев назад

Great job guys

@dawnamortonartistatdlmtlea4081 11 месяцев назад

Thanks😊

@BlueMagic720 11 месяцев назад

Very Informative great job guys

@ContractorsCornerConsulting 11 месяцев назад

Thank you!

@shawnfairman911 11 месяцев назад

Good stuff

@ContractorsCornerConsulting 11 месяцев назад

Thanks for the visit

@bjess 11 месяцев назад

I will back you guys up on the quality of the truck and all the safety mechanisms

@TSaburn 11 месяцев назад

While I can't stand the Northeast, I will pretty much go wherever. I live in Virginia and love going out west. It's beautiful out there. My driver leader often worries I'll get stuck, however. So I guess I don't go out west as much as I'd like to. I don't even think I've been in the Mountain Time Zone, and west, in 6 months.

@bjess 11 месяцев назад

Thank you Charley and Jeff for doing this! I think my comments will be heard thru your platform where on a swift platform I would be ignored

@dawnamortonartistatdlmtlea4081 11 месяцев назад

Thanks for the comment. ~Jeff's wife

@bjess 11 месяцев назад

I truly enjoy working with swift but I can’t even rapid to help me convert my contract from OTR to Walmart dedicsted

@dawnamortonartistatdlmtlea4081 11 месяцев назад

Make sure to watch the live show this afternoon. Maybe they'll have some advice...

@ContractorsCornerConsulting 11 месяцев назад

Hey Brian the account should be taking care of that.

@bjess 11 месяцев назад

I was promised a load board when signing up. That’s not happened so ok whatever. They say keep doing whatever is available and basically never go home. I’ve committed to a Walmart contract to simply have some consistency. At least if and when I sit I’m at my home deciding to go fishing or take my wife on a date night.

@bjess 11 месяцев назад

Oh so I’m 2021 and 2022 they pushed to get us then when 2023…..

@bjess 11 месяцев назад

My end of lease buyout is already upside down and I got in the lease before Swift/IEL increased things. I anticipate 450,000-480,000 miles on my truck at end of lease. Buyout will be just over $82,000 and I’m seeing comparable trucks with 450,000 miles for under $60,000 regularly.

@ContractorsCornerConsulting 11 месяцев назад

and this is something everyone needs to look at all throughout the lease and at end of lease. If you have the funding which to be honest a lot of folks dont then you look at the deals available and make a decision based on as much info as you can get. But if you dont have the funding options then maybe converting your balloon into an MRP might be the way to go or even looking at getting into a new one.. all things to consider

@ContractorsCornerConsulting 11 месяцев назад

So, I just ran some numbers on your scenario. If you get a note from a bank for that $65k truck and put $12.5k down on it, after taxes, fees, and interest you have a payoff of $87k over 4 years. So if you can save the money for the baloon payment it's about the same as if you borrowed the money for the used truck. This is something to consider. Yes, you are paying a premium for the truck. Basically that interest rate is built into the total ownership cost. But you also know the truck. There is no rolling of the dice and hoping the last guy did the maintenance on it. You WERE the last guy.

@bjess 11 месяцев назад

@@ContractorsCornerConsulting I appreciate your reply and the effort you put into that. This was my original plan when I was developing a strategy of how I would operate. Saving is the real struggle right now, so I’ve kind of lost interest in my original goals. With absolutely everything in life costing so much more it has become increasingly difficult to save. I put $.20 per mile in my maintenance so on average that’s about $550 a week right now I only pay myself $.48 per mile and there are weeks that I don’t get paid because the business has to get paid first.

@ContractorsCornerConsulting 11 месяцев назад

@bjess this is why we hammer the "why" question so hard. It is important to remember why you got into business in the first place. The end game shouldn't change all that much. How you get there? That may change quite a bit over time. Look at Charley. He swore he would never get a new truck. He had a paid for teuck for YEARS. But circumstances changed and he leased a new truck a little over a year ago. But he is still in business which speaks to him having a very strong WHY.

@bjess 11 месяцев назад

Why can’t owners be on the logistics loadboard to pull that freight

@ContractorsCornerConsulting 11 месяцев назад

there are many reasons that we can talk about if ya like. We can try and setup some time to have a discussion about it from what we know about it.

@mikehenderson3575 11 месяцев назад

Swift gives thousands of loads to Transmex. When Trump changed the FMCSA to allow US carriers to us Mexican drivers. They say fright is flat but they have gone from 500 Transmex drivers to 3000 transmex drivers. They take a load from Mexico to a city in the US. Then they take a load to get back. That's two loads for each transmex drivers that a US driver would have pulled. Plus they pay them .30 cents per mile.

@dawnamortonartistatdlmtlea4081 10 месяцев назад

We talked about that in our latest live show.

@bjess 11 месяцев назад

Ok forgot it was time for the baseball playoffs….go Phillies!!!’

@bjess 11 месяцев назад

Bidenomics…..Arizona did go Blue ya know