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Don Daseke to retire as CEO and chairman of Daseke Inc.

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Don Daseke has led the development of Daseke, Inc. into the largest flatbed and specialized transportation and logistics company in North America with a fleet of approximately 6,000 tractors and 13,000 flatbed and specialized trailers, and a million-plus square feet of industrial warehousing space. (Courtesy: DASEKE INC.)

ADDISON, Texas β€” Don Daseke will retire from his roles as chief executive officer and chairman of the board of Daseke Inc., effective immediately, the company said Thursday.

He will continue as a member of the board of directors with the title of chairman emeritus.

Daseke is the largest flatbed, specialized transportation and logistics solution company in North America, the company said in a news release announcing Daseke’s retirement.

Daseke’s board has appointed Chris Easter, currently chief operating officer as interim chief executive officer.

Daseke will work with Easter in an advisory capacity to help ensure a smooth transition while the board conducts a search for a permanent CEO.

The company also said the board has appointed Brian Bonner as executive chairman.

Within the fleets of Daseke companies there are approximately 6,000 tractors and 13,000 flatbed and specialized trailers, and a million-plus square feet of industrial warehousing space.

Smokey Point Distributing, E.W. Wylie, J. Grady Randolph, Central Oregon Truck Company, Lone Star Transportation, Bulldog Hiway Express, Hornady Transportation, The Schilli Companies, Big Freight Systems, The Steelman Companies, The Roadmaster Group, TSH & Co., Moore Freight Service, Inc., Aveda Transportation and Energy Services, Builders Transportation and The Boyd Companies β€” including Boyd Bros. Transportation and WTI Transport β€” are the operating companies of Daseke Inc.

β€œI am incredibly proud of what we have built over the last decade,” Daseke said. β€œDaseke remains a truly unique company, with a platform designed to support future growth on both the top- and bottom-lines.Β  I am leaving the company in the hands of a very strong and deep leadership team across the organization.Β  Investing in people has always been my guiding principle and we have invested in this team, which makes me very confident that they will help Daseke achieve its full potential.”

Easter has been Daseke’s chief operating officer since January 2019. His background includes more than 30 years of operational leadership serving in key transportation and logistics roles with the United States Army, Walmart and Schneider National. For the past six years, he served as CEO of Keen Transport, a specialized transportation, warehouse and logistics company focused on serving the industrial equipment market.Β  During more than a decade with Walmart, he was responsible for overseeing the transportation of goods from around the world.

β€œWe have an industry leading specialized and flatbed platform that is truly unique in the transportation industry,” Easter said. β€œI’m grateful to Don for his vision and leadership in building that platform. I am fully committed to this role as we pivot our strategy towards long-term operational excellence.”

Bonner has served as a member of the board of directors of Daseke since February 2015. He served as vice president and chief information officer of Texas Instruments, a publicly traded company, from January 2000 to May 2014. In that role, Bonner managed the business and technology aspects of IT operations and was a member of the company’s Strategy Leadership Team.Β  Over a 33-year career at Texas Instruments Mr. Bonner held a broad range of executive positions in business line management, global marketing, sales and new product development.

 

 

 

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ATA For-Hire Truck Tonnage index increases 0.2% in September

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Compared with September 2018, the SA index increased 3.5%. The index is up 4.1% year-to-date compared with the same period last year. (The Trucker file photo)

ARLINGTON, Va. β€” American Trucking Associations’ advanced seasonally adjusted (SA) For-Hire Truck Tonnage Index increased 0.2% in September after falling 4% in August.

In September, the index equaled 117.6 (2015=100) compared with 117.3 in August.

β€œThis was the first month in 2019 that we did not see a significant increase or decrease in tonnage,” said ATA Chief Economist Bob Costello. β€œFor the entire third quarter, the index was up 1.2% over the previous quarter and 4.5% from a year earlier, both are nice gains.”

It is important to note that ATA’s tonnage data is dominated by contract freight, which is performing significantly better than the plunge in spot market freight this year.

August’s reading was revised down compared with our September press release.

Compared with September 2018, the SA index increased 3.5%. The index is up 4.1% year-to-date compared with the same period last year.

The not seasonally adjusted index, which represents the change in tonnage actually hauled by the fleets before any seasonal adjustment, equaled 114.8 in August, 7.5% below the August level (124). In calculating the index, 100 represents 2015.

Trucking serves as a barometer of the U.S. economy, representing 70.2% of tonnage carried by all modes of domestic freight transportation, including manufactured and retail goods. Trucks hauled 10.77 billion tons of freight in 2017. Motor carriers collected $700.1 billion, or 79.3% of total revenue earned by all transport modes.

ATA calculates the tonnage index based on surveys from its membership and has been doing so since the 1970s. This is a preliminary figure and subject to change in the final report issued around the 5th day of each month. The report includes month-to-month and year-over-year results, relevant economic comparisons, and key financial indicators.

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CMV market trifecta: Sales of used trucks decline m/m, y/y ytd

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September marks the first time since the fall of 2012 that the used truck industry has seen average prices fall month-over-month for three straight months. (The Trucker file photo)

COLUMBUS, Ind. β€” Preliminary used Class 8 volumes (same dealer sales) fell 5% month-over-month in September, according to the latest preliminary release of the β€œState of the Industry: U.S. Classes 3-8 Used Trucks” published by ACT Research.

Additionally, the report indicated that longer-term comparisons yielded a 17% decline compared to September 2018, as well as a year-to-date drop of 19%, the 11th consecutive contraction for both time period comparisons.

Other data released in ACT’s preliminary report included sequential comparisons for September 2019, which showed that average prices and average age fell 3% each, while average miles climbed 5%.

ACT’s Classes 3-8 Used Truck Report provides data on the average selling price, miles, and age based on a sample of industry data. In addition, the report provides the average selling price for top-selling Class 8 models for each of the major truck OEMs – Freightliner (Daimler); Kenworth and Peterbilt (Paccar); International (Navistar); and Volvo and Mack (Volvo). This report is utilized by those throughout the industry, including commercial vehicle dealers to gain a better understanding of the used truck market, especially as it relates to changes in near-term performance.

β€œSeptember marks the first time since the fall of 2012 that the used truck industry has seen average prices fall month-over-month for three straight months,” said Steve Tam, vice president at ACT Research. β€œSeptember also has the distinction of being the first time since mid-2017 that prices have fallen year-over-year for two consecutive months. From our perspective, there are two factors at work. Demand is falling, as evidenced by lower sales volumes, and supply is on the rise.”

ACT Research is a publisher of commercial vehicle truck, trailer, and bus industry data, market analysis and forecasts for the North America and China markets. ACT’s analytical services are used by all major North American truck and trailer manufacturers and their suppliers, as well as banking and investment companies.

ACT has scheduled its 62nd seminar for February 11-13, 2020. It will feature trucker, electrification and economic panels, as well as discussions on near-term demand of North American commercial vehicle markets and the pending impact of electrification on the market in the near future.

A commercial vehicle database workshop is also being planned in conjunction with this semi-annual event. Click here for seminar information.

For information about other ACT Research products and services, visit www.actresearch.net.

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At 0.3% dip, September retail sales drop by largest amount in seven months

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The overall economy grew at a 2% annual rate in the April-June quarter with much of that strength coming from a 4.6% surge in consumer spending, which accounts for about 70% of economic activity. (Β© 2019 FOTOSEARCH)

WASHINGTON β€” Retail sales dropped in September by the largest amount in seven months, possibly signaling that rising trade tensions and turbulent markets are having an impact on consumer spending.

Retail sales fell 0.3% last month following a 0.6% gain in August, the Commerce Department reported Wednesday. It was the first decline since a 0.5% drop in February.

Retail sales are important to the trucking industry because trucks carry an estimated 75-80% of the merchandise sold at retail outlets.

Consumer spending was strong in the spring and economists had been counting on continued strength to protect the U.S. economy as it is buffeted by the fallout from President Donald Trump’s trade war with China.

The spending decline in October, which was unexpected, was influenced by special factors including a big 0.7% decline in sales at gasoline stations, a decline that likely reflected falling gas prices during the month.

The overall economy grew at a 2% annual rate in the April-June quarter with much of that strength coming from a 4.6% surge in consumer spending, which accounts for about 70% of economic activity.

That spending pace had been expected to slow in the July-September quarter but still remain strong enough to support economic growth near the 2% rate seen in the spring.

But some economists are worried that a slowing global economy and the adverse impact of the U.S.-China trade war could slow overall growth so much that the country could see an increasing risk of a recession ending the current record-long U.S. expansion, which began in June 2009.

“It looks like the trade war has claimed yet another victim, in addition to diminished business confidence and reduced investment spending, … consumers are starting to chicken out,” said Chris Rupkey,Β  chief financial economist at MUFG in New York.

Many economists said the disappointing retail sales performance would make it more likely that the Federal Reserve will cut interest rates in October for a third time this year to buy more insurance against a recession when they meet later this month.

Michael Pearce, senior U.S. economist at Capital Economics, said while there were special factors affecting the weak September sales performance, the report contained clear signs that consumption growth is slowing.

He said the report was consistent with his view that the overall economy will continue to slow to a rate of just 1% by the final three months of this year. He said that will prompt the Fed to cut rates again but not until the December meeting.

In addition to the drop in gasoline sales, sales of autos fell 0.9% in September after a solid 1.9% increase in August.

Sales at department stores were down 1.4% while sales at general merchandise stores, which include chain retailers such as Walmart and Target, fell 0.3%.

Sales also dropped at hardware stores, grocery stores and sporting goods stores. Clothing stores, restaurants and health care stores all saw increases.

Sales in a retail control group which focuses on key components that go into computations of GDP were unchanged in September after a 0.3% gain in August.

 

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