Overdrive Magazine | Trucking Business News & Owner Operator Info
Issue link: http://read.dmtmag.com/i/535950
BUSINESS 32 | Overdrive | July 2015 Independent owner-operators and leased flatbed haulers began 2015 with a good earnings boost compared to the same period a year ago. Independents earned 66 cents per mile of net income during the first quarter, according to averages reported by ATBS, the nation's largest own- er-operator financial services company. A year ago, they earned 58 cpm. Leased flatbedders earned 76 cpm during the first three months of 2015, up from 56 cpm in the same period last year. One factor in the increased earnings is that fuel costs dropped about 6 cpm from the first quarter of 2014, said Todd Amen, ATBS president and chief executive officer. "Revenue per mile was close to flat or even up," he said. "This points to the strong market for trucks and the fact that they have been able to hold the rate increases that came into effect the second half of last year. "The flatbed data is a bit confusing because the spot market for flatbed has really dropped, indicating reduced demand and freight availability for flat- bed," he said. Nevertheless, the data is "hopefully a sign the flatbed market is still good." Independents' net income was $15,865 in the first quarter. Flatbedders earned $16,274. Dry van owner-operators earned $13,944 in the first quarter, or 50 cpm. Reefer haulers earned $12,652, or 43 cpm. – Max Heine TRANSFIX, an on-demand logis- tics marketplace, released its Transfix app for over-the-road driv- ers. Loads entered into the system are sent instantly to an approved list of independent contractors and carriers. CUMMINS released an Android version of its free QuickServe Online, which provides access to parts options, parts catalogs and engine dataplate information. POSTED RATES on the spot mar- ket in May shot upwards in dry van, reefer and flatbed, according to Truckstop.com data. Paid rates, derived from verified rates paid to carriers, con- tinued to trend mostly a dime or two higher than posted rates. Getting oil analysis is a great way to determine engine wear prob- lems before they cause too much damage. It also can cut costs by giving you a precise reading on whether your oil has exhausted its lifespan and needs to be changed to protect your engine, or whether there are many miles of useful life remaining. The Partners in Business program is produced by Overdrive and the consultants at ATBS, the nation's largest owner-operator business services firm. It is sponsored by Ryder, Goodyear Smart Fleet and Truckstop.com. The Partners in Business manual is available for order at eTruckerStore.com. The next seminars will be held Aug. 28-29 at the Great American Trucking Show in Dallas. IN BRIEF Walmart is considering its next steps in a class action suit where a federal judge concluded truckers must be paid at least minimum wage for all time worked. San Francisco's Senior District Judge Susan Illston ruled May 28 that the company's $42 allocation per layover during federally mandated rest periods averages out to less than paying mini- mum wage. "Under California law, the drivers must be paid for all of the time that they were subject to [Walmart]'s control," Illston wrote. Company spokesman Randy Hargrove said 90 percent of Walmart's drivers have been with the company for more than a decade and earn an annual $80,000 to $100,000. The company could owe as much as $100 million in back pay, according to some media reports. WALMART SEEKS NEXT MOVE IN DRIVER PAY CASE PARTNERS IN BUSINESS TIP: OIL ANALYSIS Leased flatbed clients of ATBS earned 76 cents per mile, or $16,274, during the year's first three months. Independents, flatbedders start strong