The economic situation and foreign oil dependence have greatly increased the prices of diesel and regular gas. This is not only effecting citizens driving cars to work and back, but also the truckers. In fact some of the truckers are being forced to pick up the gas tab on their own. P.A.M Transportation is one company that is suffering from these high gas prices.
Large losses were reported in a publishing of the Times Record in early February in 2008. In fact in mentioned that P.A.M. Transportation Services Inc. actually lost over eight hundred thousand dollars in net income over the last three months of 2007.
A recent article from The Auto Channel that was issued on May 1, 2008 stated that losses were continuing for the company in the current year. For the first quarter of 2008, a whopping almost three million dollars was lost and their share were reduced to a value of only twenty nine cents.
This is proof that P.A.M. and other trucking companies are greatly suffering by the rising fuel prices. Trucking has always been the backbone of the freight transportation industry and simply cannot be allowed to suffer from this mounting fuel crisis.
There will need to be some major changes in P.A.M. transportation and similar trucking companies that are struggling in the same way. These changes will most likely come in the form of lay offs and cutting corners in wages and bonuses so that the company can stay afloat in the horrible market.
P.A.M. Transportation has had to cut operations to conserve money. This just backs up the theory of high gas prices affecting the travel industry. In fact, the company actually stopped working at a terminal in New Jersey and added jobs in Sacramento to try and minimize losses. However, many lawsuits were filed for the abrupt changes and the company lost almost three hundred thousand.
Stories like the one at P.A.M Transportation are becoming more and more common nationwide, and this will see impacts beyond the trucking industry. When the trucking industry suffers, other industries suffer including all businesses that use trucks to deliver their products. This includes retail, manufacturing, construction, and others. This will undoubtedly mean higher prices at your local store for food and other consumables.
Diesel fuel prices are hitting the roof and are causing a negative impact on P.A.M. Transportation as well as many other companies. The cost to transport products is increasing and the products that are run on fuel are also increasing. This will only negatively impact the economy and the effect it has on people.
Large losses were reported in a publishing of the Times Record in early February in 2008. In fact in mentioned that P.A.M. Transportation Services Inc. actually lost over eight hundred thousand dollars in net income over the last three months of 2007.
A recent article from The Auto Channel that was issued on May 1, 2008 stated that losses were continuing for the company in the current year. For the first quarter of 2008, a whopping almost three million dollars was lost and their share were reduced to a value of only twenty nine cents.
This is proof that P.A.M. and other trucking companies are greatly suffering by the rising fuel prices. Trucking has always been the backbone of the freight transportation industry and simply cannot be allowed to suffer from this mounting fuel crisis.
There will need to be some major changes in P.A.M. transportation and similar trucking companies that are struggling in the same way. These changes will most likely come in the form of lay offs and cutting corners in wages and bonuses so that the company can stay afloat in the horrible market.
P.A.M. Transportation has had to cut operations to conserve money. This just backs up the theory of high gas prices affecting the travel industry. In fact, the company actually stopped working at a terminal in New Jersey and added jobs in Sacramento to try and minimize losses. However, many lawsuits were filed for the abrupt changes and the company lost almost three hundred thousand.
Stories like the one at P.A.M Transportation are becoming more and more common nationwide, and this will see impacts beyond the trucking industry. When the trucking industry suffers, other industries suffer including all businesses that use trucks to deliver their products. This includes retail, manufacturing, construction, and others. This will undoubtedly mean higher prices at your local store for food and other consumables.
Diesel fuel prices are hitting the roof and are causing a negative impact on P.A.M. Transportation as well as many other companies. The cost to transport products is increasing and the products that are run on fuel are also increasing. This will only negatively impact the economy and the effect it has on people.
About the Author:
Jim Arnold is the author of best truck driving jobs, website that discusses issues on truck driving and jobs. Visit class a best truck driving jobs .com
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