Improved safety on the road

Serious accidents involving fatalities with large trucks and buses are on the decrease. Rates have decreased 5% to 0.168 per 100 million total vehicle miles traveled. Rates of injuries for the same group dropped 2% to 4.09 per 100 million total vehicle miles traveled. Many contribute the decrease in accidents to driver turnover rates which have fallen to the lowest levels since the ATA began collecting date in 1995.

You may want to check with your agent to see if you can get a better rate on your insurance since overall experience in the industry is improving.

More stimulus news!!

So what does the Obama stimulus package mean to our industry? Well with the Fed’s investment in bonds and Fannie Mae and Freddie Mac mortgage rates are at an all time low. This is stimulating real estate sales meaning that home construction will increase and many homeowners will remodel taking advantage of home improvement loans. For our industry that means jobs!! The materials will need to be transported by truck.

Also, the stimulus package will go to fund many shovel ready projects that will repair, replace and expand our existing transportation infrastructure. Again, that means jobs for the trucking industry.

With the interest rates remaining low as they have been in the last 20 years and with oil trading below $50.00 a barrel this will also help stimulate the economy and in turn the trucking industry. As consumer confidence returns demand for goods will increase and we will be there ready to fill inventories all across the country.