Truck Drivers CRY for HELP! Catching Warning Signs of a Trucking Company Going Bankrupt ⚠️

Truck Drivers CRY for HELP! Catching Warning Signs of a Trucking Company Going Bankrupt ⚠️
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Join Ronen in this eye-opening video as he uncovers the harsh reality of the trucking industry's worsening conditions. Three former truck drivers and a dispatcher from ET reach out to Ronen, seeking to return to their previous jobs amid the company's struggles. Ronen emphasizes the importance of never leaving a company on bad terms, using this situation as a cautionary tale.

With vacancies and bankruptcies plaguing the trucking industry across North America, Ronen delves into how to recognize the warning signs of a company's downfall, ensuring you're not caught off guard.
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📚 Chapters
00:00 Introduction - Truck Drivers Cry for Help!
00:18 Former Dispatcher Reaches out to ET Transport
00:52 Former Truck Driver #1 at ET Transport Looking for a Job
01:18 Catching the Signs of a Trucking Company Going out of Business
01:41 Former Owner Operator #2 at ET Transport Looking for a Job
02:09 Understanding Cash Crunch Process in a Trucking Company
02:35 Re-Financing Trucks and Trailers
02:55 Fuel Cards and Paychecks Bouncing
03:30 What Happens When a Trucking Company Closes Down
04:11 When Should you Quit the Trucking Industry?
05:04 What are Some Signs of a Downfall in a Trucking Company?
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[midnite]

I sold my truck 3 years ago during the Covid 19 mess.. I was hauling for the auto manufacturing industry.. It all went down hill and I sat home for 8 months without work or pay.. So, for the past 3 years I've been working as a company driver for a major industry earning over $90, 000 a year.. The O/O idea is over for me. Never again !!
I'm running 5 days at 2, 500 miles, dedicated drop and hook. I'm home every day with weekends off .

[georgiapatriot]

NEVER use your own card to buy fuel. You will never see that money!

[nospam]

You forgot to mention drivers sitting two or three days between loads. If the company doesn't have freight orders they aren't going to have any money.

[slidewayzSR]

Mobile mechanic here, I’ve been in business for 4 years now and this is the first time I’ve ever had so many drivers ghost me on invoices. To the point I don’t even answer the phone anymore unless it’s a company I know. It sucks because there are a lot of good o/o out there that need an honest, fair priced, reliable mechanic that actually shows up but because of new found trust issues, the chances of finding them are slim because after being burned so many times, my motivation has tanked to say the least. That’s how I know it’s getting tough out there….

Awesome content by the way!

[smk]

If you don't get paid on time, stop working. If you continue to work, you just gonna get into a deeper hole.

[tomwoods]

As an o/o I'm hurting. So is all my friends.

[kentharrisgeorgia]

In this past year I have worked at Southeastern Freight, Yellow Trucking and now UPS. It is brutal. UPS has zero jobs in Tennessee. Our terminal is converting drivers back to part-time warehouse workers.

[allenshaw]

Worked for an LTL carrier before regulation...then came deregulation. Last day we were told don't make any pick ups...it finally hit home, but the signs were all there. 2 pay cuts okayed by the union, no overtime, laid off road drivers, delayed maintenance on trucks, office staff cuts etc.

[egriffin]

Company driver here, company of 300 trucks. They have denied my last 3 bonuses for issues that I have had absolutely no control over. Seems like a red flag.

[michaelwright]

The first time you get a bounced check or multiple fuel card issues, RUN! I have learned a few things in 35 years in this racket. When in doubt... Don't be a simp.

[footalee]

Ronen it was nice of you to welcome back those who reached out to you to consider reemploying them after their companies going out of business..👍🇯🇲

[Axel-Live]

Im in North America across the pond in ohio from you. I am the only guy on YouTube exposing frauds and crooks in the expedited area of trucking mainly relating to sprinters, cargo vans and box trucks. I work closely with many brokers to hunt and expose. I do complete searches on all these crooks and Im going to tell you its HUGE AND OUT OF CONTROL.

[Jamie-julie]

I agree. 24 years driving 3rd generation. Love the videos. I left a company when I seen fuel card not working or so called glitches in two months. They started not paying reimbursements, layover that was a few things as well as couple dispatchers leaving and then they cut the pay from 70 cents to 65 mile. So I left

[Coronado-nzwu]

When 80% of load board loads are below $2/mi things are bad.

[rogerg]

Market correction. Capacity is out of control

[lwrefrigeratedexpress]

I've been driving 26 years. I was always told that the first sign was that the company would stop would stop allowing the driver to get the truck washed

[bryanvillanueva]

In Houston TX at the ports they keep cutting the rates. Local rates are getting cut by 25%. A year a go that $300 rate now is worth $275. They recently talked about cutting the rates again but to $250 per load

[coryhildebrandt]

I work for company that used to be one of biggest haulers in the auto industry in souther ontario but now are doing mass layoffs and just struggling to stay open with few loads..

[peteranderson]

I used to have my truck on with LSI out of Mississauga. I started seeing the signs there was trouble, when one of the owners brother-in-law pulled his trucks off it was time to go. Not long after that they went belly up.

[SeanDees]

Maybe in Canada, freight is up 25% since Jan in USA. Checks were $1800 avg for Jan, $2050 in February and last Fridays check was $2230. My buddy at prime who is leasing is avg $3200 a week since Feb after expenses and 25% held back for taxes. Every week it’s getting better not worse .