What the 'Great Trucking Recession' is warning us about the economy
Two months ago, 30,000 truckers at Yellow lost their jobs when one of the nation’s oldest and largest trucking companies filed for Chapter 11 bankruptcy protection. Last week, Convoy, the digital freight broker that was supposed to reinvent the wheel and disrupt the trucking industry in a positive way, also abruptly shuttered its doors.
Rick McQuaide, owner of several freight lines based in Pennsylvania and Florida, says the underlying problem in the trucking industry is a warning sign for our economy.
These kinds of closings by both freight carriers lay bare the uncertain state...