.
CAN I EXPLAIN WHY I THINK
THERE'S A SHORTAGE OF TRUCK
DRIVERS?
YOU CAN FIND PEOPLE WITH CLEAN
RECORDS WHO CAN PASS A DRUG
TEST.
THAT IS THE PROBLEM, ISN'T IT?
>> SOME MIGHT CHARACTERIZE IT
LIKE THAT BUT A MORE BENEFICIAL
REPLY WOULD BE PAID FOR TRUCK
DRIVERS HAS BEEN FALLING FOR 3
DECADES WHILE THE DEMAND AND
RESPONSIBILITIES OF THE JOB
HAVE BEEN GOING EXACTLY THE
OPPOSITE.
IT WILL ALWAYS BE DIFFICULT TO
FIND PEOPLE TO DO JOBS THAT ARE
HARD, THAT DON'T PAY MUCH.
STUART: YOU DO TAKE MY POINT?
IN THE AGE WHERE MARIJUANA IS
LEGAL BUT RECREATIONAL USE, AND
AGE WHERE DRUNK DRIVING
CONVICTIONS HAVE GONE STRAIGHT
UP OVER A LONG TIME YOU ARE
FINDING IT DIFFICULT NOT TO
FIND GUYS AND LADIES TO WORK AT
THE RIGHT PRICE BUT ARE
QUALIFIED TO DRIVE BECAUSE YOU
HAVE A LIABILITY PROBLEM.
>> THOSE ARE ISSUES BUT THOSE
ARE GENERALLY ISSUES THAT ARE
HANDLED AT THE RECRUITING END.
THERE ARE PLENTY OF PEOPLE THAT
ENTER EVERY YEAR, STATES ISSUE
400,000 NEW COMMERCIAL DRIVER
LICENSES, THE VAST MAJORITY FOR
TRUCK DRIVERS, EVERY YEAR.
WHAT HAPPENS IS THOSE DRIVERS
GO TO WORK FOR COMPANIES,
GENERALLY THE BIG LARGE
PUBLICLY TRADED COMPANIES AND
GET BURNED OUT, THEY GET BURNED
OUT AFTER A FEW MONTHS,
SOMETIMES 6 BUT ALMOST ALL OF
THEM WITHIN A YEAR.
100% TURNOVER IS THE NORM FOR
BIG PUBLICLY TRADED COMPANIES.
STUART: I CAN SEE HOW YOU WOULD
HAVE AN AGE PROBLEM, OLDER
DRIVERS RETIRE, THEY ARE USED
TO WHAT GOES ON IN THE TRUCK
DRIVING BUSINESS BUT YOUNGER
FOLKS NOT THAT INTERESTED IN
DRIVING 1000 MILES BETWEEN
DESTINATIONS.
'S AGE A FACTOR AS WELL?
>> CERTAINLY THOSE THAT HAVE
BEEN OUT THERE ON THE MODE,
THEY COUNT THEIR MILES BY THE
MILLIONS.
YOUNGER PEOPLE ARE NOT
INTERESTED IN MOVING INTO A
PROFESSION.
PAY HAS BEEN FALLING FOR THREE
DECADES, ADJUSTED PAY FOR
DRIVERS, HALF OF WHAT IT WAS
THREE DECADES AGO.
THAT TREND HASN'T CHANGED.
AND ISN'T BAD, COUPLE THAT WITH
WORKWEEKS THAT ARE 75 TO 80
HOURS LONG.
THEY ARE GONE FOR WEEKS AT A
TIME, SOMETIMES MONTHS.
PEOPLE WILL LOOK TO REPLACE AND
THAT IS WHAT IS GOING ON.
STUART: I AM FASCINATED BY WHAT
YOU JUST SAID.
THE AVERAGE ADJUSTED INCOME OF
THE TRUCK DRIVER TODAY IS LESS
THEN HALF WHAT IT WAS 30 YEARS
AGO?
REALLY?
>> ABSOLUTELY AND IS EXACTLY
THAT.
STUART: THE AVERAGE ADJUSTMENT
- WHAT IS THE AVERAGE ADJUSTED
INCOME OF A TRUCK DRIVER TODAY?
>> DEPARTMENT OF LABOR SAID IT
WAS $41,000, SOME TRUCKING
COMPANIES HAVE IT A LITTLE
HIGHER.
YOU ARE TALKING A WORK WEEK 70
TO 80 HOURS LONG.
MOST OF THE TIME AWAY FROM
HOME.
STUART: LESS THAN IT WAS,
$41,000.
$80,000, 30 YEARS AGO, $40,000
NOW.
I AM ASTONISHED.
>> COMPARING PAY WITH THE
CONSUMER PRICE INDEX DRIVERS
NEED TO BE MAKING TWICE TO KEEP
UP.
AFTER DEREGULATION MANY
TRUCKING COMPANIES BECAME
PUBLICLY TRADED, GREW RAPIDLY,
RECRUITING NOTHING BUT NEW
PEOPLE, PEOPLE THAT GET PAID BY
THE MILE AND WORK THE HECK OUT
OF THEM AND THEY HAVE BEEN VERY
GOOD AT DOING IT BUT IT REACHED
THE POINT DRIVERS CAN'T BE MORE
PRODUCTIVE YET PAY CONTINUES.
SHAREHOLDERS, LESSER LABOR
COSTS, AND THE BIG GUYS SET THE
STANDARD, TRUCKING IS 90% SMALL
BUSINESS BUT THE BIG GUY CREATE
THE ECONOMIC CONDITIONS AND
IRONICALLY THEY ARE ALSO THE
ONES THAT LOBBY FOR MORE
REGULATIONS DRIVERS GENERALLY
HATE.
>> AUTONOMOUS, SELF DRIVING
TRUCKS GOING DOWN THE PIPE.
YOU ARE LAUGHING BUT THAT IS
THE ANSWER TO THE DRIVER
SHORTAGE.
>> AT SOME POINT THAT IS A
SCARY THOUGHT.
IT TRULY IS A SCARY THOUGHT.
A CAR THAT WEIGHS 2000 POUNDS,
IT WEIGHS 40 TONS, A DIFFERENT
ANIMAL, BEAR IN MIND TREKKERS
OPERATE IN EVERY KIND OF
WEATHER, SNOW, TORNADOES,
FLOODS, HURRICANES, WHEN THINGS
GO BAD AS FAR AS THE WEATHER
GOES IT IS DRIVERS THAT STEP UP
AND BRING RELIEF SUPPLIES.
I WON'T THE AUTOMATION
REPLACING THAT.
STUART: I TAKE MY HAT OFF TO