Business

Have freight rates hit bottom? DAT Trendlines thinks they might, or at least they’re headed that way. All during October, rates have gone down, “but the pace of decline is slowing,” said the latest Trendline report, adding that van freight is moving from the West to East as Asian imports arrive, presumably in time for Thanksgiving and Christmas. Van rates were 1 cent lower although reefer rates held steady as the Midwest region of the U.S. continued its produce harvest. National spot rates for vans were $2.17 at the beginning of the month but by October 27 had dropped to $2.10. Flatbed rates started at $2.53 and had dropped to $2.47 by October 27, and refrigerated rates went from $2.52 to $2.44 during that time. Compared with the week of October 14-20, the last week of the month showed increases for some freight types and decreases for others. Spot market loads were up 0.9 percent week-over-week and spot market capacity was up 0.5 percent. Flatbed load-to-truck rates were also up 0.9 percent week-over-week and reefer load-to-truck rates were up 1.6 percent. In the down column were van load to truck rates (-0.2 percent); spot van rates (-0.5 percent); sport flatbed rates (-0.8 percent); and fuel prices (-0.4 percent). Spot reefer rates stayed the same.  

WASHINGTON — The U.S. economy grew at a robust annual rate of 3.5 percent in the July-September quarter as the strongest burst of consumer spending in nearly four years helped offset a sharp drag from trade. The Commerce Department said Friday that the third quarter’s gross domestic product, the country’s total output of goods and services, followed an even stronger 4.2 percent rate of growth in the second quarter. The two quarters marked the strongest consecutive quarters of growth since 2014. The result was slightly higher than many economists had been projecting. It was certain to be cited by President Donald Trump as evidence his economic policies are working. But some private economists worry that the recent stock market declines could be a warning signal of a coming slowdown. The GDP report along with next week’s unemployment report for October are the last major looks at the economy before voters go to the polls in the mid-term elections. For this year, economists are projecting the momentum built up should result in growth of 3 percent, the best annual showing in 13 years. But they believe the impact of Trump’s trade war with China and rising interest rates will slow growth in 2019 to around 2.4 percent, with a further decline to under 2 percent in 2020. “I think we will see a significant slowdown, in part because economic growth has been raised to an artificially high level by the tax cuts,” said Sung Won Sohn, chief economist at SS Economics in Los Angeles. Trump in recent weeks has accelerated his attacks on the Federal Reserve for raising interest rates, contending that the higher rates by slowing the economy will work against his efforts to speed up growth through the $1.5 trillion tax cut package Trump got Congress to pass last year. “Every time we do something great, he raises interest rates,” Trump said in an interview this week with the Wall Street Journal in which he again said he viewed the Fed as the “biggest risk” facing the economy “because I think interest rates are being raised too quickly.” The central bank has raised rates three times this year and signaled it will raise rates one more time this year and expect to raise rates three times in 2019. Those moves are being made to ensure that tight labor markets, with unemployment at a 49-year low of 3.7 percent, and strong growth don’t trigger unwanted inflation. The GDP report Friday was the government’s first of three reviews of overall economic activity for the July-September period. The report showed that consumer spending, which accounts for 70 percent of economic activity, surged at an annual rate of 4 percent in the third quarter, even better than the 3.8 percent gain in the second quarter and the best showing since last 2014. Trade, which had boosted second quarter growth by 1.2 percentage points, shaved 1.8 percentage points off growth in the third quarter. Exports, which had surged at a 9.3 percent rate in the second quarter, fell at a 3.5 percent rate in the third quarter. Analysts had forecast this turn-around, saying it reflected the surge in exports of goods such as soybeans in the spring as producers tried to beat the higher tariffs being imposed by China in retaliation for Trump’s tariffs. Another big swing factor in the third quarter was business restocking of their shelves. Inventories had trimmed 1 percentage point off growth in the second quarter but boosted growth by 2 percentage points in the third quarter. Housing continued to be a drag, falling for a third straight quarter. Business investment, which had surged at an 8.7 percent rage in the second quarter, slowed to a small 0.8 percent gain the third quarter.

FORT SMITH, Ark. — ArcBest is celebrating its 95th anniversary this fall. From its roots in less-than-truckload delivery, ArcBest has transformed into a full-scale provider of end-to-end supply chain services designed to help customers solve their own business challenges. The company was formed in 1923 as OK Transfer & Storage Company, a local freight hauler based in Fort Smith. “I’m very proud to be part of a company with a history full of innovation and excellence and an exciting future,” said Judy R. McReynolds, ArcBest chairman, president and CEO. “Our success at ArcBest has come from hiring creative problem solvers, developing great customer relationships, and going above and beyond every day.” In the 1930s, OK Transfer bought Arkansas Motor Freight (AMF) and assumed its name. At that time, the company had 10 employees, three locations, two tractors, three trailers, one pickup truck and annual revenue of $50,000. The company continued to grow in the 1940s with acquisitions such as Lindley Truck Line, P.C. Motor Freight, Motor Express and Robertson Truck Line. In 1951, local attorney Robert A. Young Jr. purchased AMF. In 1957, the company was renamed Arkansas-Best Freight System after its purchase of Dallas-based Best Motor Freight, which doubled the company’s size. In 1962, the company established an IT arm now known as ArcBest Technologies, and in 1966, Arkansas Best Corp. was formed as a holding company for five subsidiaries, including less-than-truckload company ABF Freight. Acquisitions in the 1950s and 1960s included Memphis-Arkansas Express, Healzer Cartage Company, Delta Motor Lines and Bradsher Truck Service. With its 1979 purchase of Navajo Freight Lines, the company became the ninth-largest regulated interstate motor carrier in the United States. In the 1980s, the company survived the deregulation of the trucking industry when many others didn’t, McReynolds noted. In the 1990s and early 2000s, ArcBest expanded its offerings by providing household moving through the U-Pack brand, commercial vehicle maintenance and repair through FleetNet America, expedited solutions through the Panther Premium Logistics® acquisition, truckload through organic growth and multiple acquisitions, and international solutions through what is today ArcBest International. In 2014, Arkansas Best Corp. was renamed ArcBest Corp., and in 2017, the company began offering most solutions under the ArcBest brand. Today the company has 10 campuses and more than 240 service centers across North America with more than 13,000 employees ready to serve customers across the globe. “Our ability to continually solve and grow with our customers has been a key contributor to our longevity,” McReynolds said. “It has helped us build a rich history and a powerful foundation for our future.” For more information, visit www.arcb.com.

COLUMBUS, Ind. — September trailer orders continued to reflect the early opening to the 2018-19 order season, ACT Research reported Thursday. Total trailer net orders of more than 58,000 units were up 52 percent month-over-month and 135 percent better than this time last year, according to this month’s issue of ACT Research’s State of the Industry: U.S. Trailer Report. “Following the strongest July and August net orders in industry history, September results were truly epic, posting more than 58,000 trailers,” said Frank Maly, director–CV transportation analysis and research at ACT Research. “The strength of the early open of the 2019 orderboard continues to be felt and the pent-up fleet investment intentions were evident in September’s order pace. Our discussions indicate that order negotiations continue, so there may well be further strength remaining in this early –opening order season.” Maly said  despite September’s short production schedule, the combined impact of red-tag completions and inventory drawdown pushed shipments past the 30,000-unit mark for the month, setting the all-time monthly shipment record and breaking the previous high that occurred just the month before. “Factory shipments have posted year-over-year gains for 14 of the past 15 months, with the largest percentage improvement occurring in the vocational segments,” he said.  

Two published trucking indexes are showing the ups and downs of the industry, although collectively they indicate a positive environment. The latest release of ACT’s For-Hire Trucking Index showed the supply-demand balance falling to 50.1 on a seasonally-adjusted basis in September, down from 55.3 in August. The 8.4 percentage point month-over-month decrease in the Volume Index more than offset the 3.2 percentage point sequential drop in the Capacity Index, leading to an essentially balanced market by this measure. Meanwhile, FTR’s Shippers Conditions Index (SCI) for August improved by a little more than one point from July to a reading of -8.8.  After hitting an all-time low in May, the SCI has steadily moved upward, albeit still in significantly negative territory. Overall, shippers are experiencing some relief from excessively tight capacity, and FTR expects that to continue with rate growth moderating accordingly.  By mid to late 2019 the SCI could be recording neutral readings. “The September ACT survey showed downticks across each of the volume, productivity and capacity results, though freight rates improved from August,” said Tim Denoyer, ACT Research’s vice president and senior analyst. “The for-hire industry has secured record contract rates this year, but accelerating Class 8 tractor production and slowing freight growth are helping to rebalance the market.” As part of this month’s survey, ACT Research queried fleets about how much of their fleet is without a driver and whether that is above or below average. “Our respondents’ fleets are averaging about 7 percent unseated tractors, with 62 percent indicating this is above average and 24 percent saying the current level is normal. Just 14 percent told us their fleet’s unseated tractor level is below average.” The September fleet purchase intentions reading indicated a slight uptick in equipment demand, with 55.5 percent respondents planning to buy trucks in the next three months. This is an increase from fleet purchase intentions at 54.7 percent in August. “We believe that, after record year-to-date orders, this series should remain elevated as long lead-time truck orders are built and hit the highways,” Denover said. “Shippers have experienced some relief in recent weeks as trucking capacity has loosened and rail service stabilized,” said Todd Tranausky, vice president of rail and intermodal at FTR. “However, going into the peak season and the potential for some shippers to pull forward imported volumes, it will bear watching to see if service continues to improve through the end of 2018.” The Shippers Conditions Index tracks the changes representing four major conditions in the U.S. full-load freight market. These conditions are: freight demand, freight rates, fleet capacity, and fuel price. The individual metrics are combined into a single index that tracks the market conditions that influence the shippers’ freight transport environment. A positive score represents good, optimistic conditions. A negative score represents bad, pessimistic conditions. The index tells you the industry’s health at a glance. In life, running a fever is an indication of a health problem. It may not tell you exactly what’s wrong, but it alerts you to look deeper. Similarly, a reading well below zero on the FTR Trucking Conditions Index warns you of a problem…and readings high above zero spell opportunity. Readings near zero are consistent with a neutral operating environment. Double digit readings (both up or down) are warning signs for significant operating changes.

ARLINGTON, Va. — The American Trucking Associations’ advanced seasonally adjusted (SA) For-Hire Truck Tonnage Index decreased 0.9 percent in September, sliding to 111.8 from August’s mark of 112.7. “Truck freight slowed at the end of the third quarter,” said ATA Chief Economist Bob Costello. “As anticipated, the year-over-year gains have slowed on strength a year earlier, but there is no doubt that freight softened in August and September. Despite the decreases late in the quarter, based on July’s strength, third-quarter tonnage rose 0.1% from the second quarter and 5.2 percent from the same period in 2017.” August’s change over the previous month was revised down to -2.0 percent (-1.8 percent was originally reported in our press release on September 18). Compared with September 2017, the SA index rose 2.9 percent, down from August’s 4.2 percent year-over-year increase. Year-to-date, compared with the same period last year, tonnage increased 7.0 percent. The not seasonally adjusted index, which represents the change in tonnage actually hauled by the fleets before any seasonal adjustment, equaled 110.2 in September, which was 8.2 percent below the previous month (120.1). In calculating the index, 100 represents 2015. Trucking serves as a barometer of the U.S. economy, representing 70.2 percent 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 percent 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 10th day of the month. The report includes month-to-month and year-over-year results, relevant economic comparisons and key financial indicators. ATA is the largest national trade association for the trucking industry through a federation of 50 affiliated state trucking associations and industry-related conferences and councils.      

EAGAN, Minn. — For the second time in 2018, Transport America, a subsidiary of TFI International Inc., said it was implementing a pay increase for solo and team company drivers, effective October 21, 2018. This pay increase enables solo over-the-road drivers to earn up to $80,000 annually, and team over-the-road drivers to earn up to $170,000 annually. The company’s pay-for-performance structure recognizes drivers for their hard work and overall performance, making it possible for them to more rapidly achieve the top pay rates and additional performance bonuses, said Paul Simmons, Transport America president. “We continue to have the utmost respect for our drivers and their dedication to keeping America moving, and we are excited to again be increasing their pay,” Simmons said. “We know our success begins with the great men and women working with us, one mile at a time, and we couldn’t do this without them.” Simmons said Transport America operates by a driver-first philosophy. “By providing our drivers with the utmost respect, more consistent home time, flexible routes, the best support in the industry and now increased pay, we are demonstrating our commitment to our outstanding professionals, and believe our customers will benefit from this pay increase as well,” Simmons said. Transport America is provider of truckload transportation and logistics services throughout much of the U.S., Mexico and Canada. It has been in business since 1984 and is headquartered in Eagan. For more information, visit www.transportamerica.com.  

VAN BUREN, Ark. — USA Truck said Thursday it had acquired privately-held Davis Transfer Co. and related entities of Carnesville, Georgia. Davis is a southeast regional carrier with approximately $50 million in revenues and a recent operating ratio in the upper 80’s. The company was founded by Harry Davis in 1959 and has been a family owned business since that time. Davis has been managed as a full truckload carrier for the past 20 years by Gary, Bill and Todd Davis. Todd Davis will join the USA Truck leadership team as a vice president. Davis will operate independently of USA Truck as a wholly owned subsidiary. Davis’ employees and customers should notice little change moving forward. James Reed, president and CEO of USA Truck, said Davis has a reputation as a safe operator, having been named Florida’s Safest Carrier in both 2016 and 2017, adding that the company also has a long history of outstanding service and is a recognized leader by its customers in regional, quasi-dedicated truckload freight. “Davis represents a unique opportunity to add capacity, loyal customers, and exceptional drivers — all of whom are committed to the continued strong performance of the business,” Reed said. “The Davis family has been a great steward of the organization, with a strong track record of success and profitability, and this partnership reflects the next natural step in the progression and growth of Davis.” Reed said the acquisition gives USA Truck a greater presence in the southeast and provides three key strategic opportunities: increased alignment with driver domiciles, enhanced maintenance facility presence, and financial synergies. “We believe there are opportunities to enhance the flow of driver movements into and out of existing markets – which we anticipate will minimize deadhead and enhance capacity availability and service to our customers,” Reed said. “We intend to drive improvements to the maintenance cost structure of both USA Truck and Davis by leveraging Davis’ existing terminal infrastructure. Finally, we anticipate the realization of certain financial synergies, especially in the procurement area. We believe these advantages, coupled with what we expect will be a substantially and immediately accretive business, make this acquisition a great fit.” The transaction will be primarily funded via the company’s revolving credit facility and cash on hand, with a minimal equity issuance provided to Todd Davis to ensure strong alignment with interests of USA Truck shareholders.

ST. LOUIS — Despite all the recent turmoil in the financial markets and the resulting concerns about the strength of the economy, the Cass Freight Shipments Index is signaling that the U.S. economy, at least for now, continues to be extraordinarily strong, Cass said Thursday. Simply stated, Cass said, when shipment volume is up 8.2 percent it is the result of an expanding economy. “We are hard pressed to imagine a scenario, barring a catastrophic geopolitical event, in which such a strong rate of freight flow expansion was possible or even a precursor to an economic contraction,” the Cass report said. “Our confidence in this outlook is emboldened by the knowledge that, since the end of World War II — the period for which we have reliable data — there has never been an economic contraction without there first being a contraction in freight flows. Conversely, during the same period, there has never been an economic expansion without there first being an expansion in freight flows.” Cass said the index is signaling continued strong pricing power for those in the marketplace who move freight. Demand is exceeding capacity in most modes of transportation by a significant margin. In turn, Cass said pricing power has erupted in those modes to levels that continue to spark overall inflationary concerns in the broader economy. “With the Expenditures Index up 19.3 percent, we understand those concerns, but are comforted by two factors: the cost of fuel — and resulting fuel surcharge —  is included in the Expenditures Index and the cost of diesel was up 17.3 percent in September; almost all modes of transportation are using the current environment of pricing power to create capacity.” “As we explained in previous months, we do not fear long-term inflationary pressure as technology provides multiple ways to ever-increase asset utilization and price discovery in all parts of the economy, especially in transportation,” Cass said. “In fact, we are continuing to see more signs that electronic logging devices, which initially hurt the capacity/utilization of truckers and especially small truckers, are becoming an ever-smaller impediment to capacity utilization. Many of the truckers which were the most adversely effected are now getting most, if not all of, the original loss in utilization back. This is especially true in the dry van and reefer marketplaces of trucking. Even the flatbed segment of trucking, which initially faced the greatest challenges with productivity after the adoption of ELDs, has begun to adapt.” With the first nine months of 2018 over, it is clear that 2018 will be an extraordinarily strong year for transportation and the economy, Cass said, noting that March through September exceeded all levels attained in all months in 2014, a very strong year, while February was roughly equal to the peak month in 2014 (June 2014 – 1.201 vs February 2018 – 1.198) which is exceptional. Cass said the data in the report signaled that the coming holiday shopping season will be very strong.                                

TULSA, Okla. — Driver iQ, a provider of  background screening and driver monitoring services to the trucking industry, says carriers taking part in its third quarter 2018 Recruitment & Retention Survey are seeking to offer innovative packages to attract and retain drivers. “In addition to offering additional driver compensation, 60 percent of the carriers are offering scheduled pay increases, 25 percent are offering a guaranteed weekly compensation and 30 percent are offering some type of guaranteed transition pay for new hires to make up for the lost productivity when they change jobs,” said Lana Batts, co-president of Driver iQ. Batts said that while 60 percent of the carriers expected to see an increase in the number of applicants, 55 percent expect that the quality of the applications will be worse than it was last year. “Furthermore, 43 percent expect that the quality of future applications will worsen next year,” she said. “As a result, 45 percent of the carriers have lowered their hiring standards.” Other details of the survey include: Driver turnover costs the truckload industry over $10.6 billion per year. Over one-third of fleets expect driver turnover will increase or remain the same. The largest cost of driver retention is for incremental pay increases and training (59 percent and 50 percent, respectively). Only 15 percent of the carriers has someone dedicated solely to driver retention. Over 53 percent of the drivers have been with the company for over three years. For 40 percent of the companies, women make up more than 50 percent of their recruiting staff, while for only 9 percent of the companies do minorities make up more than 50% of their recruiting staff. The third quarter Trends in Truckload Recruitment and Retention Survey from Driver iQ is the latest in a planned series of quarterly surveys designed to better understand and measure recruiting and retention experiences and expectations in the truckload sector. The results of the survey are coupled with observations of Driver iQ personnel engaged in the background screening industry. The survey represents the views of recruiting managers who operate over 75,000 trucks and the majority of the responses came from dry van carriers with over $100 million in gross operating revenues. Driver iQ is the transportation division of Cisive, a worldwide provider of HR technology and background screening. For more information, visit www.DriveriQ.com.

PORTLAND, Ore. — Freight resumed a seasonal pattern on the spot market in September, with a month-over-month decline of 14 percent, DAT reports. Compared to September 2017, volume dropped 30 percent, influenced by a steep drop in demand for flatbed equipment, compared with last year’s hurricane aftermath. Hurricane season has not had a major impact on freight flows so far this year. “The decline in load posting volume in the DAT load board marketplace actually signals a return to stability, as 3PLs and freight brokers are able to find trucks more quickly,” said DAT market analyst Peggy Dorf. “Volume can be expected to increase in the fourth quarter, although year-over-year increases may be muted due to the strength of comparable months in 2017.” Spot market rates edged up for dry van and refrigerated (“reefer”) equipment, month-over-month, despite declining volume. However, rates slipped a few cents lower for flatbed trailers. All trailer types got a rate increase compared with September 2017 averages. Despite the decline, however, rates are higher for all equipment types than in any previous year since at least 2010, when DAT introduced the first spot market rates database. The DAT Freight Index reflects load posting volume on the DAT network of load boards, and 100 on the Index represents the average monthly volume in the year 2000. Additional trends and analysis are available at DAT Trendlines. Referenced rates are the averages by equipment type, based on $57 billion of actual transactions, as recorded in DAT RateView. Rates per mile include fuel surcharges, but not accessorials or other fees. DAT operates the largest truckload freight marketplace in North America. Transportation brokers, carriers, news organizations and industry analysts rely on DAT for market trends and data insights derived from 279 million freight matches (2018 estimate) and a database of $57 billion in annual market transactions. Related services include a comprehensive directory of companies with business history, credit, safety, insurance and company reviews; broker transportation management software; authority, fuel tax, mileage, vehicle licensing, and registration services; and carrier onboarding. Founded in 1978, DAT Solutions LLC is a wholly owned subsidiary of Roper Technologies, a diversified technology company and constituent of the S&P 500, Fortune 1000, and Russell 1000 indices.

BLOOMINGTON, Ind. — Although FTR’s August Trucking Conditions Index (TCI) at a reading of 10.24 fell from the very high reading of the previous month, it continues to reflect a very positive carrier environment, FTR said in its monthly report. The moderation in the August reflects some freight rate stabilization and continued incremental capacity additions, FTR said, adding that freight demand remains quite strong and the TCI is forecast to hold up at the current level for the next year or more. Details are found in the October issue of FTR’s Trucking Update. The “Notes by the Dashboard Light” section offers analysis on what a (unlikely for now) recession might look like in order to more readily recognize the signs and forecast how such a scenario might affect transportation providers and suppliers. Along with the TCI and ‘Notes by the Dashboard Light,’ the Trucking Update includes data and analysis on load volumes, the capacity environment, rates, costs, and the truck driver situation. “The August TCI reading is the lowest of 2018 so far, but prior to this year the TCI had not been higher than 10.24 since December 2015,” said Avery Vise, vice president of trucking. “ In other words, the moderation we see in trucking conditions really just highlights how phenomenal the first half of 2018 was. Based on our current forecast, trucking conditions will remain positive at least through 2019.” The Trucking Conditions Index tracks the changes representing five major conditions in the U.S. truck market. These conditions are freight volumes, freight rates, fleet capacity, fuel price, and financing. The individual metrics are combined into a single index that tracks the market conditions that influence fleet behavior. A positive score represents good, optimistic conditions. Conversely, a negative score represents bad, pessimistic conditions. The index tells you the industry’s health at a glance. In life, running a fever is an indication of a health problem. It may not tell you exactly what’s wrong, but it alerts you to look deeper. Similarly, a reading well below zero on the FTR Trucking Conditions Index warns you of a problem, while readings high above zero spell opportunity. Readings near zero are consistent with a neutral operating environment, and double-digit readings (both up or down) are warning signs for significant operating changes.

Sales of Class 8 trucks in the United States decreased 1.1 percent in September as compared to August, but year to-date-sales continue to post impressive gains. A total of 23,913 Class 8 trucks were sold in September, compared with 23,913 last month, according to WardsAuto. September sales in 2018 increased 35.4 percent over September 2017’s total of 17,667. Year-to-date sales in 2018 of 178,235 units is 32.5 percent ahead of the first nine months of 2017 when 134,472 trucks were sold. In September, the only significant gain was a 22.7 percent increase for Peterbilt, 3,638 sold in September compared with 2,966 in August. International had the best gain in September 2018 compared with the same month last year at 83.8 percent. At 60.2 percent, International has the best year-over-year gain at 60.2 percent, followed closely by Volvo at 58.3 percent.

PLOVER, Wis. — Women In Trucking Association and Freightliner Trucks have named three finalists for the 2018 Influential Woman in Trucking award. This is the eighth year for the award, which was developed in 2010 as a way to honor female leaders and to attract and advance women within the trucking industry. The award highlights the achievements of female role models and trailblazers in the trucking industry. The nominees for the award included women from all over the industry in various roles. The finalists include: Angela Eliacostas, founder and CEO, AGT Global Logistics of Glen Ellyn, Illinois Nozuko Mayeza, managing director, Tulsawiz Logistics of Johannesburg, South Africa. Brooke Willey, vice president of human resources, CRST International of Cedar Rapids, Iowa Eliacostas has more than 30 years of experience in transportation, working her way from the ground up. Following generations of relatives with expertise in the transportation industry, she made the natural transition to her own career by learning the processes at trucking companies to running third-party logistics. Eliacostas is an industry leader in expediting shipments and serves as a liaison between carriers and companies. She has grown a reputation in the energy and power logistics space. Angela has been recognized for making AGT Global Logistics one of the top 50 in Illinois and top 1000 woman-owned businesses in the United States. Mayeza is a passionate truck business owner who hails from South Africa. Through her passion, she has managed to make inroads into a male dominated sector for over seven years. She is the finalist for Women in Africa awards 2018 and the chairperson of the Black Business Council subcommittee on Commercial and public transport. Nozuko is a mentor to females in trucking both in South Africa and Ghana. Willey leads the human resources function for CRST International as Vice President of Human Resources, a $1.7 billion transportation company comprised of seven operating companies with 9,500-plus employees and driving partners/owner operators. Her passion is building strong leaders and leadership teams and has been publicly recognized for those efforts. Under her leadership development efforts, in 2016 CRST was named a “Top-10 Best Private Company for Leaders” by Chief Executive magazine. In 2017 CRST was named a “Workforce Leader in Training” by the Corridor Business Journal and Kirkwood Community College.  Willey is also actively involved with non-profit organizations in her community, most recently a board member for United Way and Young Parents Network. “With the outstanding nominations submitted, it was extremely difficult for the judges to narrow it down to the finalists,” said Ellen Voie, president and CEO of WIT. The judges for the 2018 award are Voie; Dave Nemo, talk show host, Sirius XM Radio; and Daphne Jefferson, principal and executive coach, Jefferson Consulting Group, who was the 2017 Influential Woman in Trucking award recipient. All three finalists have been asked to participate on a panel at the WIT Accelerate! Conference & Expo held in Dallas November 12-14. The winner will be announced at the general session panel discussion, “Hard-Won Lessons from Trailblazing Women” on Tuesday, November 13 from 8:45 a.m. – 10:00 am. The panel will be facilitated by Joann Lublin, news editor, The Wall Street Journal. CAPTION FOR PHOTO Courtesy: WOMEN IN TRUCKING From left, Nozuko Mayeza, Angela Eliacostas and Brooke Willey have been named finalists for the 2018 Influential Woman in Trucking award.  

WASHINGTON — U.S. employers added just 134,000 jobs in September, the fewest in a year, though the figure was likely lowered by Hurricane Florence, while the unemployment rate fell to 3.7 percent, the lowest level since 1969. Hurricane Florence struck North and South Carolina in the middle of September and closed thousands of businesses. A category that includes restaurants, hotels and casinos lost jobs for the first time since last September, when Hurricane Harvey had a similar effect. Even with unemployment now at a historic low, average hourly pay increased just 2.8 percent from a year earlier in September, one tick below the yearly gain in August. The for-hire trucking industry added  only 600 jobs in September, but has added a total of 69,400 jobs thus far in 2018 and has added over 86,000 since January 2017. September extended the longest streak of hiring on record, with millions of Americans having gone back to work since the Great Recession.  Healthy consumer and business spending has been fueling brisk economic growth and emboldening employers to continue hiring. The September gain extended an 8½-year streak of monthly job growth. Consumers, business executives and most economists remain optimistic. Measures of consumer confidence are at or near their highest levels in 18 years. Retailers have begun scrambling to hire enough workers for what’s expected to be a robust holiday shopping season. A survey of service-sector firms, including banks, hotels and health care providers, found that they are expanding at their fastest pace in a decade. Americans have continued spending steadily and appear to be in generally stable financial shape. Households are saving nearly 7 percent of their incomes — more than twice the savings rate before the recession. That trend suggests that a brighter economic outlook hasn’t caused consumers to recklessly build up unsustainable debt. During the April-June quarter, the U.S. economy expanded at a 4.2 percent annual rate, the best in four years. Economists have forecast that growth reached a 3 percent to 3.5 percent annual rate in the July-September quarter. The economy does show some weak spots. Sales of existing homes have fallen over the past year. Increasingly expensive houses, higher mortgage rates and a shortage of properties for sale are slowing purchases. Auto sales have also slumped. Other threats loom, too. Borrowing costs for businesses and consumers are rising. Pointing to the economy’s health, the Federal Reserve last week raised the short-term interest rate it controls and predicted that it would continue to tighten credit into 2020 to manage growth and inflation. Over time, higher borrowing costs make auto loans, mortgages and corporate debt more expensive and can eventually slow the economy. But for now, anticipating stronger growth — and perhaps higher inflation — investors have dumped bonds and forced up their yields. The yield on the government’s 10-year Treasury note, a benchmark for mortgages and other loans, has touched its highest level in seven years. President Donald Trump’s trade fights could also weigh on the economy, though the effect on hiring won’t likely be felt until next year, economists say. The Trump administration has imposed tariffs on imported steel and aluminum as well as on roughly half of China’s imports to the United Sates. Most U.S. businesses will try to absorb the higher costs themselves, at least for now, economists say, and avoid layoffs. Still, should the tariffs remain fully in effect a year from now, roughly 300,000 jobs could be lost by then, according to estimates by Mark Zandi, chief economist at Moody’s Analytics. PHOTO CAPTION In this June 21, 2018, file photo, job applicants talks with representatives from Aldi at a job fair hosted by Job News South Florida, in Sunrise, Florida. Friday, the  U.S. government said even though U.S. employers had added only 134,000 jobs in September, the unemployment rate hit a 49-year low at 3.7 percent. (Associated Press: LYNNE SLADKY)

ARLINGTON, Va. — The annualized turnover rate at large truckload carriers jumped four percentage points in the second quarter to 98 percent, according to American Trucking Associations’ Trucking Activity Report. “So far this year, the turnover rate at large truckload fleets is up 10 percentage points,” said ATA Chief Economist Bob Costello. “The extreme tightening of the driver market — driven by solid freight demand — will continue to challenge fleets looking for qualified drivers.” The jump for carriers with more than $30 million in annual revenue set the churn rate at its highest point since the fourth quarter of 2015. In the first half of the year, turnover is averaging 96%, putting 2018 on pace to be the highest annual rate since 2013. At the same time, the turnover rate at smaller truckload fleets slipped one percentage point to 72 percent. “There is something happening with turnover at these smaller fleets,” Costello said. “The driver market remains tight across the truckload sector, but the turnover rate at these smaller carriers is down 14 points from the same time last year. Like large carriers, small truckload carriers have been aggressively raising pay this year, which has helped their turnover rate level off.” Turnover at less-than-truckload fleets also jumped four percentage points to 14 percent, the highest mark for this traditionally stable sector since the first quarter of 2013. “While much lower than the truckload sector, seeing this kind of jump in the LTL market tells me that this sector is struggling with drivers more than in the recent past,” Costello said, “and suggests the industry’s issues finding qualified drivers are continuing to deepen across the board.”

Preliminary data for orders of Class 8 trucks in September didn’t set a record such as has been the case several times in 2018, but nevertheless the numbers continue to support the fact that 2018 likely will continue to be a banner year. That according to data released this week by the two organizations that gather and analyze the information — ACT Research and FTR. ACT said preliminary net order data show the industry booked 42,800 units in September, falling moderately after back-to-back record order months. FTR reports preliminary North American Class 8 orders for September came in at 42,300 units for the month. “Preliminary data indicate that in September, North American Class 8 orders were down 19 percent from August, but up 90 percent compared to year-ago September,” said Kenny Vieth, ACT’s president and senior analyst. “Through year-to-date September, Class 8 orders have totaled 397,200 units, an average monthly order intake of 44,100 units/month. On a seasonally adjusted basis, the past three months’ orders represent the three strongest order months in history, with the past three months’ Class 8 orders climbing to 711,000 units SAAR. Reaching back to June, on a seasonally adjusted basis the past four months are four of the five strongest in history.” FTR said September Class 8 order activity was the 10th best month ever, but with most of 2018 hitting all-time highs, was only the 5th highest monthly volume this year. Sturdy freight growth continues to strain industry capacity and fleets are placing orders a year out to secure new truck availability throughout 2019.  North American Class 8 orders for the past 12 months have now totaled 497,000 units, FTR said. “The pressure is on fleets to add capacity to keep up with a robust freight market,” said Don Ake, FTR vice president of commercial vehicles. “The economy is surging right now, putting stress on shippers to find trucks to deliver goods on time. Fleets don’t want to be stuck in the same situation next year, so they are placing huge orders for trucks well ahead of time. “The focus now turns to the supply chain. Parts and component suppliers have struggled to keep pace with the growing OEM builds this year. Demand, as indicated by the surge in orders, will be even stronger next year. It is uncertain if suppliers can meet this challenge, as they compete for workers and materials in a vibrant economy.” Both organizations will report final numbers later in October.

ELYRIA, Ohio — Bendix Commercial Vehicle Systems Tuesday said it had signed a definitive agreement to acquire the ProSteering business of JM Engineered Products, a Lebanon, Tennessee-based remanufacturer of all-makes power steering systems for the North American commercial vehicle market. Upon closing, the transaction will incorporate the ProSteering brand’s products, manufacturing operations, plus its sales and service operations into Bendix’s steering business and remanufacturing unit. Complete integration is expected to take six to 12 months. “With the addition of these top-line products to our lineup, the aftermarket channel will be able to turn to Bendix as a one-stop destination for an even wider range of high-quality products,” said Scott Burkhart, Bendix vice president of sales, marketing and business development. “And customers choosing the steering components – as with our existing products – can count on the backing of Bendix’s long-established post-sales distribution, service, and support network.” Bendix is working to ensure a seamless integration process for its customers. “As we navigate through the transition, our goal is to have uninterrupted product and service,” Dustin Carpenter, Bendix product line director for Steering, said. “Customers should continue to use their existing order and day-to-day support contacts until they’ve been further notified.” With the addition of the team behind ProSteering, Bendix is adding a combined 85 years of deep knowledge of North American-based steering gears to further evolve its already deep  manufacturing and steering gear expertise – built over six decades by Bendix and Knorr-Bremse Steering Systems, a division of the Munich, Germany-based Knorr-Bremse Group. That know-how will allow Bendix to even more quickly adapt its global steering prowess to better meet the needs of the North American market, the company said in a news release. The acquisition complements the existing Bendix lineup of all-makes remanufactured products with a complete aftermarket portfolio of steering gears. It demonstrates how the company continues to grow its remanufacturing business, and further develop its operations and offerings. The action also reinforces Bendix’s total approach to the commercial vehicle market – from technologies available through OE manufacturers to a full range of products available in the aftermarket for vehicle operators in every application. “Strategic actions like this help to further enhance the depth and scope of our overall market and product positions,” Carpenter said. With an aim at shaping tomorrow’s transportation, steering technologies are a key part of the technology pathway to highly automated and autonomous vehicles. The integration, or fusion, of steering control with other systems, such as braking, advances driver assistance technologies (DAS) to the next level, Bendix officials said. “Today, we can help drivers mitigate rear-end collisions, rollovers, and loss of control crashes via the braking system,” Carpenter said. “In the future, we will be able to provide more advanced features, such as lane keeping, sideswipe crash mitigation, autonomous yard maneuvering, and active cruise with braking and steering control as we move forward to even more automated applications. Brakes, steering, and engine control are the keystones of future system fusion to drive further safety on the roads.” Bendix emphasized that no technology on the road today – or for the foreseeable future – is more important to vehicle and road safety than the presence of safe, alert men and women behind the wheel, practicing safe driving habits and receiving the support of proactive, ongoing training. Bendix said advanced driver assistance technologies are not intended to enable or encourage aggressive driving, and responsibility for safe vehicle operation remains with the driver at all times. Through an ever-growing portfolio of integrated technology developments and unparalleled post-sales support, Bendix delivers on areas critical to fleets, including safety, vehicle performance, and efficiency, Carpenter said, noting that for nearly 90 years, the company has worked toward safer roads for everyone, helping to lower the total cost of commercial vehicle ownership and strengthen return on investment in safety technologies.