RIGHT, ALEX, THANK YOU. >> WELL, DEMAND FOR TRUCK DRIVERS ACCELERATED DURING THE WORST OF THE PANDEMIC FUELED BY THE BOOM IN ONLINE SHOPPING IN PEOPLE LOOKING FOR A STEADY PAYCHECK. BUT NOW SOME OF THOSE SAME DRIVERS ARE STRUGGLING TO FIND WORK. LET'S BRING IN TODD SPENCER, PRESIDENT OF THE OWNER OPERATOR INDEPENDENT DRIVERS ASSOCIATION TIED. THANK YOU SO MUCH FOR YOUR TIME. I WAS READING AN ARTICLE ABOUT THIS SAW THAT THERE ARE NOW TRUCKERS WHO ARE STRUGGLING, YOU KNOW, TO HAVE THE SAME AMOUNT OF PAYCHECKS TO FIND JOBS AGAIN, ALL THROUGHOUT COVID. I MYSELF DID STORS ON THE TRUCKER SHORTAGE. SO HOW DID THE SITUATION SHIFT THAT QUICKLY. IS THERE A SURPLUS OF DRIVERS AT THIS POINT. >> WHEN YOU TALK ABOUT DRIVER SHORTAGES THAT ONE OF THOSE TOPICS MYTHICAL TOPICS THAT WE'VE HEARD ABOUT FOR 3 DECADES IT'S BASICALLY PERPETUATED BY THOSE COMPANIES THAT THEY'RE REAL CORE ISSUE IS DAY. THERE ARE PLENTY OF DRIVERS. THEY JUST CAN'T KEEP UP. AND WHAT HAPPENED AT TRUCKING MAKE BECAUSE OF COVID AND BECAUSE OF CARES ACT SUDDENLY OUR ECONOMY WAS AND HAS SINCE GIVEN STEROIDS AND PEOPLE STARTED PEOPLE HAD MONEY TO SPEND AND THEY SPEND IT BUYING A LOT. A LOT, A LOT OF THINGS AND ALMOST EVERYTHING IN OUR COUNTRY IS DELIVERED BY TRUCKS AND CREATED RECORD DEMAND. BIG-TIME RECORD DEMAND AND NOW AS THOSE COVID DOLLARS ARE DISSIPATING. THE DEMAND IS NO LONGER THERE AND SUDDENLY WHERE WE SAW TRUCKING COMPANIES INCREASED BY 50% BECAUSE OF COVID. NOW THE WEEDING OUT PROCESS IS GOING ON AND IT'S CERTAINLY GOING TO BE PAINFUL FOR MANY. >> ALL RIGHT. I'M A QUICK QUESTION FOR YOU. HOW LONG IF YOU'VE BEEN IN THE TRUCKING INDUSTRY. >> I BOUGHT MY FIRST TRUCK IN 1976 ALRIGHT, 1977 BASICALLY ALMOST 50 YEARS. COMING UP ON 50 YEARS. >> ORGANIZATION IS SUPPORTING IT IS CELEBRATING ITS 50TH YEAR IN AN OPERATION RIGHT CAN GRAB I ASK YOU THAT TIME BECAUSE IT CERTAINLY SOUNDS LIKE, YOU KNOW WHAT YOU'RE TALKING ABOUT. ALMOST 50 YEARS IN THIS INDUSTRY. WHAT IS THE REMEDY HERE BECAUSE YOU SAY THERE ARE PLENTY OF DRIVERS. THE PROBLEM IS RETAINING THOSE DRIVERS ISTHE ONLY OPTION FOR THESE TRUCKERS WHO ARE TRYING TO STICK IT OUT. BUT JUST ARE NOT MAKING THE SAME WHEN IT COMETO THOSE PAYCHECKS IS THEIR ONLY OPTION JUST TO FIND DIFFERENT SHOPS. >> NEED THAT THE IN TRUCKING HAVE ALWAYS BEEN BRUTAL INDUSTRY THAT GOES FROM BOOM TO BUST. >> A LOT OF THE REASON FOR THAT IS BECAUSE THERE ARE VIRTUALLY NO REQUIREMENTS TO STARA TRUCKING COMPANY. AS I MENTIONED, THERE WERE 120,000 NEW ONES CREATED BECAUSE COVID. AND BASICALLY ALL YOU NEED TO DO TO START A TRUCKING COMPANY IS HAVE 3 $100 AND FILL OUT SOME FORMS WITH THE FMCSA. THIS IS THE MOST TO BE THE TOP SAFETY AGENCY FOR COMMERCIAL VEHICLE TRUCKERS. YOU FILL OUT THAT FORM. IT DOESN'T ASK YOU ABOUT JADED DOESN'T ASK YOU THINK THE RESPONSIBILITY AND NOBODY JAX SO THERE'S SIMPLY NO EACH. COULDN'T BE EASIER TO START A TRUCKING COMPANY AND FORWARD AS AMAZING THE FOR ALL OF THE YEARS THAT DRUGGING HAS BEEN AROUND. THERE'S NEVER EVEN BEEN ANY REQUIREMENT THAT SOMEBODY BE TRAINED TO BE A DRIVER. AND JILL, JUST A YEAR AGO, SOMETHING WE PUSHED FOR FOR 30 YEARS. BUT I MEAN, EVEN THAT THOSE TRAINING REQUIREMENTS ARE MEAGER. SO PEOPLE COULD BE GRABBED QUICKLY OFF THE STREET. CONVERTED TO TRUCK DRIVERS. AND YOU CAN NEVER FROM A COMPANY PERSPECTIVE, YOU CAN NEVER HAVE TOO MANY SIMPLY BECAUSE THERE'S NO REAL FIXED COSTS OF DRIVERS DRIVERS ARE GENERALLY ONLY PAID FOR MILES DRIVEN. WORK. IF YOU DON'T HAVE MUCH WORK FOR HIM AND THEY SAID AROUND THEY MAY GRUMBLE HIM LEAVE. BUT AS LONG AS YOU CAN REPLACE THEM. YOU CONTINUE OPERATING THE SAME WHY. AND YOU CAN BE A MULTI MILLION MILES SAFE DRIVER AND YOUR PAY IS GOING TO BE THE SAME AS THE GUY THAT STARTED JUST LAST WEEK. YEAH. A BRUTAL INDUSTRY ON PEOPLE. >> IT HAPPENED. CERTAINLY SOUNDS BRUTAL BEAR. AND THERE ARE SO MANY FACTORS AFFECTING IT. TODD, YOU'VE BEEN IN THE BUSINESS FOR 50 YEARS. AT THAT POINT JUST HAVE A LITTLE BIT OF TIME LEFT. BUT DO YOU THINK THE OUTLOOK FOR YOUR INDUSTRY IS GOING TO CHANGE ANY TIME SOON. >> WE AS AN ORGANIZATION HAVE BEEN PUSHING HARD FOR REMEDIES TO SOME OF THE BIGGEST PROBLEMS DRIVERS HAVE CERTAINLY BEING SOMETITIMES 30, 40 HOURS A WE DRIVERS DONATE SIMPLY BECAUSE THEY DON'T GET PAID FOR ANY OF THEIR RIGHT NOW. BIG, BIG, BIG SLICE OF DRIVERS STRUGGLE TO FIND PLACES TO PARK AT THE END OF THE DAY, WE'RE TRYING TO GET CONGRESS TO PONY UP MONEY TO ADDRESS THE ISSUE OF HAVING SAFE PLACES FOR TRUCKERS. THE BARGAIN IRONICALLY, THIS IS SOMETHING THAT COMES DIRECTLY FROM COVID. BUT MEMBERS REGULARLY REPORT. THEY CAN'T EVEN FIND PLACES TO GO TO THE BATHROOM WHEN THEY'RE DELIVERING TO SHIPPERS AND RECEIVERS I AND AS STUNNING AS THE NETWORK TRYING THAT WE'RE HAVING TO ADDRESS THAT YOUR LAWN IT IT'S TERRIBLE THAT IT YOU KNOW WHAT TIME YOU ARE NOW THE GO-TO WHEN IT COMES TO ANY TRUCKING INDUSTRY >> I'MSTORY H
