by Michael Boston Dec 11, 2023
Restoring Balance in the Freight Industry: The Need for Tougher Regulations to Protect Owner-Operators
The freight industry is facing a critical issue centered around the practices of brokers and insurance brokers, necessitating stronger regulations to protect owner-operators. The problem arises when fees charged by these intermediaries are perceived as excessive, their role in transactions is seen as exploitative, or when they wield significant market power.
The trucking bubble fallout: Bank failures unveil systemic risks
The alarming statistics reveal the depth of the crisis: 35,000 truckers failed in the first quarter of 2023. Yet, regulatory bodies like the Department of Transportation (DOT) remain inactive, refusing to enforce crucial regulations, such as 49 CFR 371.3, until October 31, 2024. This delay raises critical questions about the government's role in safeguarding the stability of the supply chain.
Title: A Call for Reform in the Freight Industry: Addressing the Root Causes
The failures of the motor carrier act of 1980 and the rise of the freight trader that is destroying the supply chain.
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