Wall Street Journal reports on plight of truckers

| 3/12/2003

The Wall Street Journal reported in its March 11 edition about the effect high fuel prices are having on small business truckers.

"Many truckers never fully recovered from the hit they took in 2000, and now they are being hit again even harder," Todd Spencer, executive vice president of the Owner-Operator Independent Drivers Association, told The Journal.

The story noted that after recent increases, leaving the average nationwide diesel price above $1.70, a number of small trucking operations and owner-operators are unable to make a profit and have parked their trucks. Others, the newspaper said, have been forced to take jobs as company truckers.

“The latest woes for truckers come shortly after the industry was left reeling in 2000 and 2001 from what some executives called a ‘perfect storm,’” the newspaper reported, “a combination of rising fuel prices, a slowing economy, rising insurance premiums and dropping values of used trucks.”