Operations, profitability, levering data
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DOL Releases Final Rule for Determining Contractor Status
Earlier this week, the DOL finalized its ruling on determining employee or independent contractor status under the Fair Labor Standards Act (FLSA). The DOL put out the proposed ruling back in October, and the final ruling mainly follows the proposed regulations. The new regulations will mainly analyze independent contractor status on a “totality-of-the-circumstances” basis, which […]
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Transportation Companies are Struggling
Authored by Tony Faust and Andy Bollman As the 3rd quarter came to a close recently, it’s safe to say that the last few quarters have been interesting for transportation companies. We’ve seen soft freight rates, rising costs, bankruptcies, carriers closing their doors, high interest rates and companies struggling to manage cash flow needs. Economists […]
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IRS Issues Per Diem Rates for 2024
This week, the IRS issued Notice 2023-68 announcing the special per diem rates for 2024 effective October 1, 2023. After rates have increase the last couple years, rates are set to remain at $69 for travel in the continental United States and $74 for travel outside the continental United States. While the per diem rates […]
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The Potential of AI and Machine Learning
Authored by Troy Hollings and Brandon Knight. It times like these in the transportation and logistics industry that we really begin to look for opportunities to reduce our costs. Times when rates and demand are down, and we begin to look at our people, processes, and technologies for things that will directly impact the bottom […]
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Have We Been Experiencing a Freight Recession?
While many experts have argued we haven’t been in an economic recession for the last 12-18 months, the transportation space may be in a different spot. Over the last few weeks, we’ve seen results from the publicly traded motor carriers with decreased revenues, earnings, or both. There have been statements referencing a softening economy, tough […]
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Cash is Power – Are you Putting Yours to Use?
Gone are the days of having cash and other liquid investments on our balance sheets earning a fraction of a percentage point. As many of our readers are experiencing, and an observation we’re noticing with the majority of our clients, is that cash reserves in transportation & logistics businesses are at an all time high. […]
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FTC Moves to Ban Non-Compete Agreements
A recent proposal from the FTC (Federal Trade Commission) would effectively ban the use of non-compete agreements by employers. Non-competes typically restrict employees from going to competitors for a certain time period or within a geographical area. Employers have typically used non-competes to help protect confidential information, trade secrets and customer lists. Currently, regulations on […]
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Critical Issues Identified by the Industry
The American Transportation Research Institute (ATRI) recently released their report, “Critical Issues In the Trucking Industry – 2022”. As stated in the report, a list of issues were first identified by stakeholders with ties to the motor carrier industry and from there ATRI conducted a survey distribution to over 25,000 contacts. As you consider this […]
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Business Transition Planning – Pause and Plan
The last couple of years have been emotional rollercoaster for transportation & logistics company owners. Labor/driver/equipment shortages, volatile markets, higher input costs, and numerous proposed changes in income and estate tax laws have caused owners to seriously think about restructuring their leadership team, transitioning or even altogether exiting their transportation & logistics company. Remember that all […]
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Fuel Card Fraud – Are You Reviewing Your Activity?
It’s always Interesting how fraudsters continue to find new ways to commit theft, and often times it’s linked to something that’s going on in the economy. In the last couple of weeks, we have received notice from a couple of trucking companies, that outside parties have stolen their fuel card credentials, and used them to […]