Thomas Wasson @ThomasWasson7 Twitter profile

Last Seen Profiles

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Thomas Wasson

@ThomasWasson7

10 months

Good visualization on the logistics of provisioning a WWI era dreadnought battleship, found on reddit.

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Thomas Wasson

@ThomasWasson7

8 months

Massive plunge in outbound tender volumes nationwide as the UAW strike intensifies. Appears some of the strong September volumes was automotive front loading in a run up to the strike. OTVI down 1,421.85 points w/w or 12.15% from 11703.29 points Sep 26 to 10281.44 points.

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Thomas Wasson

@ThomasWasson7

7 months

My digital freight brokerage thoughts: VC's brought a pool noodle to a brokerage knife fight. Most brokers start by brute forcing a customer book, breed a batch of freight hustlers, then think about tech. Tech first and less hungry reps = not good time.

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Thomas Wasson

@ThomasWasson7

7 months

Outbound tender volumes showing seasonal softness, if history is our guide, not much on the horizon until two weeks before Christmas. Rejection rates are still historically low at 3.85% nationwide across all modes.

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Thomas Wasson

@ThomasWasson7

8 months

Trucking capacity continues to leave the market in September as net changes in operating authorities sharply fall. Looking at a decade plus of data, the extent of capacity destruction is starting to rival the boom seen during the pandemic.

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Thomas Wasson

@ThomasWasson7

8 months

@FreightAlley Absolutely savage move on Dave’s part 😆

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Thomas Wasson

@ThomasWasson7

5 months

Capacity bleed-off continues, net loss of 382 operating authorities as of Dec. 8, November saw 3,236 exits. Some may ask what's the right amount of authorities to cause a market flip. The answer is probably two weeks after the market flips.

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Thomas Wasson

@ThomasWasson7

7 months

Driver availability index at 62 - an all time high according to @actresearch , owner-operator influx into larger trucking fleets is one factor.

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Thomas Wasson

@ThomasWasson7

10 months

@FreightAlley My favorite anecdotal observations are the software engineers complaining of the UPS labor deal and fearful of the encroaching income parity.

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Thomas Wasson

@ThomasWasson7

8 months

All the EV truck talk has me thinking, what happens when they catch fire? A few options I found so far include: 1. spray over 500 gallons of water over a few hours and wait it out 2. use a fire blanket 3. Let it burn out Big truck = bigger battery pack = big burn

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Thomas Wasson

@ThomasWasson7

9 months

“We underestimated the cash pile that small, medium-size carriers had built up over COVID and have allowed them to survive longer than we thought they’d be able to,” - Derek Leathers, chairman and CEO of Werner at a Deutsche Bank transportation conference

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Thomas Wasson

@ThomasWasson7

7 months

Spot market linehaul rates back to the future moment, reaching levels not seen since May. Peak season so far peak anxiety in the truckload segment.

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Thomas Wasson

@ThomasWasson7

7 months

If Convoy was Lehman Brothers, we’re about to see Bear Stearns.

Craig Fuller 🛩🚛🚂⚓️

@FreightAlley

7 months

We have a report about another venture-backed freight brokerage is out of cash, hasn't paid carriers and a bankruptcy filing is imminent. Story coming.

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Thomas Wasson

@ThomasWasson7

9 months

There is no driver shortage.

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Thomas Wasson

@ThomasWasson7

1 year

@FreightAlley My hot take: I’m betting many folks aren’t factoring a consumer demand headwind once student loan payments resume this summer.

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Thomas Wasson

@ThomasWasson7

9 months

An uncomfortable truth inherent with the trucking business model is that the high turnover rate is a feature and not a symptom of a much larger issue related to drivers bearing the monetary cost of supply chain inefficiencies.

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Thomas Wasson

@ThomasWasson7

5 months

The first freight brokerage that has full rate visibility and shares their margin data with carriers and shippers will revolutionize the industry. It will then be put out of business after another freight brokerage takes that data and undercuts their rate by $5.

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Thomas Wasson

@ThomasWasson7

8 months

Real trucking chads talk about revenue per truck per week, deadhead % and revenue miles per week. Just because you calculated your costs per mile doesn't mean a high rate per mile will save you.

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Thomas Wasson

@ThomasWasson7

8 months

@zerohedge In the supply chain we call this inventory destocking.

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Thomas Wasson

@ThomasWasson7

6 months

What are you thankful this Thanksgiving? me: "I hope spot rates keep going up" Spot rate forecast giving me "we're so back" vibes. $2.26 per mile all in to $2.41 by Dec 19 might not seem like much, but need a lift before rates can take off.

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Thomas Wasson

@ThomasWasson7

8 months

When your driver shortage lobbying effort for over 20 years is subverted by a handful of #freightx shit-posters deploying memetic warfare for the lulz.

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Thomas Wasson

@ThomasWasson7

7 months

VC’s were not prepared for the breed of Chicago market carrier or bottom dollar shipper who cuts their teeth destroying freight broker margins. It’s one thing to disrupt food delivery or taxi cabs but the supply chain is pure Hobbesian chaos if not respected.

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Thomas Wasson

@ThomasWasson7

8 months

The value of fuel routing tech, cost of diesel can be over $6 a gallon in CA compared to over $4 a gallon in the deep south. Add a 300 gallon diesel tank and that $600 spread to fuel could be your margins for the week. West coast carriers are getting hammered.

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Thomas Wasson

@ThomasWasson7

9 months

This was why I was late to my 10 am delivery appointment.

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Thomas Wasson

@ThomasWasson7

7 months

Breaking: It’s over: Convoy shutting operations, no strategic white knight to the rescue

It’s over: Convoy shutting operations, no strategic white knight to the rescue

Digital brokerage Convoy is closing, with no buyer coming in to rescue its operations.

www.freightwaves.com

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Thomas Wasson

@ThomasWasson7

10 months

Class 8 orders for June The backlog-to-build ratio declined 80 basis points (bps) to 5.9 months (6.6 seasonally adjusted). 2024 outlook per ACT Research: orderbooks typically open in October, lately have seen them open as early as August

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Thomas Wasson

@ThomasWasson7

8 months

I go on vacation for one week, and miss out on all the driver shortage drama. I believe the shortage talk is good for lobbying and legislative goals but misleading in the face of low spot rates and carriers leaving the market from lack of demand. 1/4

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Thomas Wasson

@ThomasWasson7

7 months

That’s gonna be a lot of missed auto loads, Ford Assembly in Louisville is huge.

unusual_whales

@unusual_whales

7 months

BREAKING: United Auto Workers have shut down Ford's, $F, biggest plant globally in Kentucky, with 8,700 union members going on strike and halting production of their best seller, the Ford Super Duty pickup.

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Thomas Wasson

@ThomasWasson7

6 months

Spot rate Thanksgiving bump at highest levels since early October. NTI 7-day average up to $2.28 per mile all in but NTI Daily rate shows a bunch of noise from volatility (light green line). 28-day forecast predicting rates to climb to $2.54 per mile by Dec 27.

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Thomas Wasson

@ThomasWasson7

9 months

Watch for the impact of Hurricane Hilary on nationwide spot rates (green line). CA is important due to the ports of LA/Long Beach handling the lion's share of import volumes which translate into rail and truckload volumes. Spot forecast doesn't include a CA Hurricane.

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Thomas Wasson

@ThomasWasson7

8 months

Nationwide spot rates: The good is they're better than the bottom in mid-May. The bad is they haven't done much movement since then. It's progress but market still remains truckload capacity driven. Next 28 days indicate more of the same.

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Thomas Wasson

@ThomasWasson7

8 months

I would like to celebrate a professional achievement for my podcast. We are about to record our 69th episode of Loaded and Rolling live today at 1pm eastern. The episode will have @joeantoshak as our guest.

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Thomas Wasson

@ThomasWasson7

9 months

@supertrucker Mega carrier and broker collusion theories are the best, when I worked at one as an analyst the goal was to fill the bucket with freight, like a chum bucket, but with full truckload orders. A parked truck and no load is worse than a load with a low rate.

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Thomas Wasson

@ThomasWasson7

1 year

@rrpre This is glorious, reminds me of a passage from the book Salt, Sugar, Fat by Michael Moss on Lunchables.

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Thomas Wasson

@ThomasWasson7

8 months

Corporate trucking fleet management pro tip - Do not try to goose your working tractor percentage to make it look good. This includes: 1. Showing drivers as available for a load when in shop status 2. Unconfirmed trucks as available 3. Drivers at home as ready 4. Drivers who

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Thomas Wasson

@ThomasWasson7

8 months

The fall outbound tender rejection rally is now stalling at 4.04% as reefer and flatbed rejection rate declines weight down the index. Van rejection rates are now 3.68%. Carriers continue to prioritize contracted freight in this environment.

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Thomas Wasson

@ThomasWasson7

7 months

Morning view from the office #f3

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Thomas Wasson

@ThomasWasson7

8 months

Dear spot rates, please stop going down so I can sleep at night saying the middle of May was the spot market bottom. P.S. fuel gets a pass since its not their fault as half of diesel pump price is impacted by crude oil prices.

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Thomas Wasson

@ThomasWasson7

6 months

All in spot rates performing higher than 2019 but lower than previous 3 years. What's interesting is removing a fuel surcharge (diesel truck stop price per gallon / 6.5 mpg) linehaul rates have been following 2019 levels.

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Thomas Wasson

@ThomasWasson7

2 years

@SteveStuWill Replace cat with "angry driver" and you have summed up my first year of dispatching trucks.

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Thomas Wasson

@ThomasWasson7

8 months

On average 70% of all lanes in an RFP are ghost lanes, and never awarded. The traditional RFP that includes everything may cost more in wasted time. Great conversation with Angela Acocella on @mitsupplychain research on ghost lanes. 1/2

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Thomas Wasson

@ThomasWasson7

7 months

Winter is coming for freight brokers

Man, I Love Freight 🚛

@freightcaviar

7 months

Active freight brokerages operating saw a 5.6% decline in 2023, the largest drop since the 2014 surety bond hike. Source: Kevin Hill of Brush Pass Research / LinkedIn

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Thomas Wasson

@ThomasWasson7

7 months

FreightWaves Drive Time on @RoadDogTrucking will be lit today - @lostisreed with @LOSTFR8_ - Craig Strickland with @BoxCLogistics Get hyped!

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Thomas Wasson

@ThomasWasson7

6 months

While @FreightAlley was on Fox Business, my newsletter also made an appearance. Shoutout to @graciemanelafr8 for the catch. You can subscribe here:

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Thomas Wasson

@ThomasWasson7

10 months

I have peaked in my media career after getting a direct quote making a blow up noise, WTVC is now my spirit animal

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Thomas Wasson

@ThomasWasson7

7 months

UAW strike expands, will take a few days to see if a big impact on van outbound tender volumes. Wait times at Automobile manufacturers spiked in the past week giving some indication of disruptions.

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Thomas Wasson

@ThomasWasson7

8 months

Some trucking companies are still rocking AS400 based systems and email phishing is a never-ending headache. There's big incentive for cyber attacks against transportation and infrastructure due to their disruptive impacts.

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Thomas Wasson

@ThomasWasson7

6 months

Fleets when their drivers finally fill out their duty status correctly for overtime instead of fueling off duty to save HOS.

Craig Fuller 🛩🚛🚂⚓️

@FreightAlley

6 months

FreightX how do you feel about this law? Meme it

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Thomas Wasson

@ThomasWasson7

8 months

Chicago market carriers confront a Glendale double broker, circa late 2022

Varangian Chronicler

@Varangian_Tagma

8 months

Late Byzantine soldiers confront a Frankish Knight, Greece, 13th century AD.

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Thomas Wasson

@ThomasWasson7

7 months

U.S. Bank Freight Payment Index: 5th straight quarterly decline in freight spend and volume. Fed rate impacts on housing helped contribute to the declines. Appears consumers can't afford nor finance appliances or furniture in this environment causing lower freight volumes.

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Thomas Wasson

@ThomasWasson7

7 months

Spot rate forecast suggesting a black Friday bump thru Dec 1. I predict it will be either from less capacity as drivers go home for Thanksgiving, or potentially more truckload replenishment orders if discounts spur consumer spending.

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Thomas Wasson

@ThomasWasson7

10 months

From J.B. Hunt's Q2 earnings call, large fleets look to be the early adopters for driver facing in-cab cameras, when you're a large fleet and self insured, safety will trump privacy.

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Thomas Wasson

@ThomasWasson7

7 months

Outbound tender volumes so far no tricks or treats. Down 3.59% m/m after a sharp early Oct decline. Looking at seasonality, big risk for decline before slight uptick before Thanksgiving. For Halloween ask for truckload orders instead of candy.

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Thomas Wasson

@ThomasWasson7

7 months

@nope_its_lily They should try trucking, low barrier of entry but tons of govt regulations with cutthroat competition. Like Lord of the Flies with 18 wheels. Even better, the technology goes from ai powered load planning to a guy with a hardline, fax machine and excel spreadsheet.

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Thomas Wasson

@ThomasWasson7

6 months

#f3memes When you forgot to read the accessorials info in the carrier packet you signed for that grocery load.

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Thomas Wasson

@ThomasWasson7

1 year

"Of course, if there was a real driver shortage the ATA and ATRI would tell us right? After all, they're the largest trucking associations in the industry, that's their job. That's where it gets interesting. Our producers reached out to MIT Freight Lab..."

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Thomas Wasson

@ThomasWasson7

8 months

Freight Karma, enforce a brutal non compete but gloss over paying overtime

Matthew Leffler

@ArmchairAtty

8 months

Judge rules TQL owes thousands of former employees overtime pay - FreightWaves ⁦ @cage_writer ⁩ for the win!!

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Thomas Wasson

@ThomasWasson7

9 months

@FreightWaves Nice

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Thomas Wasson

@ThomasWasson7

1 year

The certificate seals the deal, best $420.69 ever spent @lostisreed

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Thomas Wasson

@ThomasWasson7

8 months

@FWwhatthetruck

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Thomas Wasson

@ThomasWasson7

9 months

@benjaminhgordon The wooden pallet

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Thomas Wasson

@ThomasWasson7

1 year

Throwback Thursday

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Thomas Wasson

@ThomasWasson7

9 months

@benjaminhgordon Half the challenge is visibility, O/O's are notoriously difficult to track and enough of them leaving usually shows up in spot market rates. Net revocations helps but we're also still seeing higher numbers of new entrants, further muddying the situation.

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Thomas Wasson

@ThomasWasson7

8 months

It’s midnight and #freightx is asleep, time to post my MLG pro guide to being a good fleet manager - tips for great success (satire) Always offer to move an angry driver onto another driver manager’s board Blame it on the load planner Never tell the driver it’s their fault for

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Thomas Wasson

@ThomasWasson7

8 months

@supertrucker @FreightAlley @Berniedogg Sir, TikTok would never lie about such a thing.

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Thomas Wasson

@ThomasWasson7

10 months

@FreightAlley This would explain why my Amazon packages are running behind, prime shipping is like 5 days now instead of 2.

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Thomas Wasson

@ThomasWasson7

6 months

Trucking executives when their drivers take extra time off on Thanksgiving, tanking their working tractor percentages. #f3memes

Porkchop Express

@Porkchop_EXP

6 months

Monday

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Thomas Wasson

@ThomasWasson7

9 months

@FischerKing64 My theory is cultural homogenization through mass media, or a rationalization through technology. A great older book that highlights the changes is The McDonaldization of Society by George Ritzer

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Thomas Wasson

@ThomasWasson7

11 months

When you finally read the ratecon to the grocery DC and it says "No detention paid until after 4 hours"

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Thomas Wasson

@ThomasWasson7

6 months

When it’s your first week as a freight broker on the sales floor and it’s time for the morning manager pep talk.

Hunter (Let's hop on a quick 5 min call)

@huntercoldcalls

6 months

This is my mentor

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Thomas Wasson

@ThomasWasson7

8 months

If you told me organized labor would conduct dank memetic warfare against management a few years ago, I would not believe you.

Shawn Fain

@ShawnFainUAW

8 months

Tune into @UAW 's Facebook page at 2pm on Friday, October 6th to see who gets the rose!

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Thomas Wasson

@ThomasWasson7

10 months

When you find out student loan forbearance ends in 20 days.

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Thomas Wasson

@ThomasWasson7

7 months

It's always important to incorporate audience feedback when writing a newsletter. Hostile engagement still counts as engagement😎

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Thomas Wasson

@ThomasWasson7

6 months

November volume bump losing steam but still better than 2022. Waiting to see if one last hurrah before volumes drop for Thanksgiving.

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Thomas Wasson

@ThomasWasson7

8 months

Checking Werner's share price (pure play trucking) and one things sticks out, watch rejection rates and if an impact on prices. Famous stock picker Mark Twain once said: “History never repeats itself, but it does often rhyme.” Mostly contract exposure does create a lag though.

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Thomas Wasson

@ThomasWasson7

6 months

In this episode of things that made sense until it didn't, don't store stacked flammable pallets under an interstate bridge.

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Thomas Wasson

@ThomasWasson7

8 months

@FreightAlley When China joined the WTO I still remember folks assuming they’ll liberalize, open up their markets fully, and become like the US without understanding the joke.

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Thomas Wasson

@ThomasWasson7

5 months

The good news: DOE/EIA weekly avg diesel pump price falls 10.5 cts/g to $3.987 per gallon. Last time DOE was below $4.00/g was July 24. Now 76 cts/g lower since this time in 2022. Warmer weather is one factor with Dec temps expected to be much higher over next 2 weeks.

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Thomas Wasson

@ThomasWasson7

1 year

Driver shortage is really a driver utilization shortage, if we're lacking 100,000+ driver jobs we would also see an improvement in their wages. Meanwhile, longshoreman and dock workers, who's numbers fell 80% or more since containerization are in higher demand. 🤔

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Thomas Wasson

@ThomasWasson7

9 months

Never get a whiskey sour without the egg whites

Reed Loustalot 🚚 🏛️ 🇺🇸

@lostisreed

9 months

love me some egg whites

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Thomas Wasson

@ThomasWasson7

7 months

@FreightAlley When I was at a brokerage, had some customers kick payment terms out to 90 - 120 days and not pay unless you threaten to cut off loads or credit. Which sometimes worked, and other times they just sent loads to another broker instead during a weak market.

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Thomas Wasson

@ThomasWasson7

7 months

My takeaway on what happened to freight brokers unprepared for a market downturn. How it started vs how its going.

Nate Ryan

@nateryansports

7 months

Best thing I'll see tonight: Determined possum has to be dragged off the field at Texas Tech.

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Thomas Wasson

@ThomasWasson7

8 months

Fast food executives at their next team building exercise after discovering Ozembic cuts caloric intake by 30%

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Thomas Wasson

@ThomasWasson7

1 year

@FWwhatthetruck $600, then an extra $50-$100 for a truck wash since my trailer is no longer food grade, finally $60 for some whiskey after dealing with the driver yelling at me due to the wait. Learning to stay away from tire loads? Priceless.

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Thomas Wasson

@ThomasWasson7

7 months

If you missed this, catch the recording and get your mind blown

Reed Loustalot 🚚 🏛️ 🇺🇸

@lostisreed

7 months

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Thomas Wasson

@ThomasWasson7

8 months

When I assigned your driver that load you asked me for all morning, then you tell me they overslept and are now declining it at 4:30pm.

Reed Loustalot 🚚 🏛️ 🇺🇸

@lostisreed

8 months

when the shady carrier i booked misses delivery and shuts down a manufacturing plant line

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Thomas Wasson

@ThomasWasson7

9 months

It's reptile awareness month in Texas

Reed Loustalot 🚚 🏛️ 🇺🇸

@lostisreed

9 months

CARBON CYCLE FACTS: THE PERMIAN BASIN IS WHERE OLD LOT LIZARDS GO TO TURN BACK INTO SHALE

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Thomas Wasson

@ThomasWasson7

10 months

Here's a preview of my newsletter coming out today, it's so good I'll just show the first image #loadedandrolling

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Thomas Wasson

@ThomasWasson7

2 years

@FreightAlley Big challenge I’ve heard from a retailer management platform is Q4 demand forecasting remains difficult, some think peak can even extend into January, retailer Q2 23 consensus for improvement was also noted, consumer spending remains an agent of chaos

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Thomas Wasson

@ThomasWasson7

5 months

Driver pay data from the National Transportation Institute, one interesting nugget from the report: "drivers with one year of experience are now earning more per mile than cap earners were in the final quarter of 2020"

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Thomas Wasson

@ThomasWasson7

6 months

When the lumper asks for a commcheck and you forgot to buy more at the truck stop. #f3memes

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Thomas Wasson

@ThomasWasson7

9 months

Trucking capacity follows a boom-bust cycle, we need more bust before rates can boom. The Covid capacity gold rush added unprecedented levels of supply. Even normalized truckload demand looks worse due to the extra competition.

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Thomas Wasson

@ThomasWasson7

11 months

Driver recruiter: "Since you're playing this game for 11 hours a day, you'll be a prime candidate to sit 11 hours behind the wheel"

American Truck Simulator players are now being targeted by in-game recruitment ads from a massive...

They have a particular set of skills.

www.pcgamer.com

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Thomas Wasson

@ThomasWasson7

8 months

Driver availability: An irony in trucking is it's easier to find drivers when you have no freight, harder to get them when too much freight.

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Thomas Wasson

@ThomasWasson7

8 months

One thing that's missing is how much did the loads weigh. Battery electric class 8's struggle with range at higher weights and so far this looks more like a glorified day-cab. The cab itself is probably heavier as well due to the battery packs.

Sawyer Merritt

@SawyerMerritt

8 months

NEWS: Independent Tesla Semi performance data suggests the hype is real. "Based on the data he analyzed, Mullaney concluded that Tesla’s range estimates for the Semi were on point. He noted that there was still a lot about the Tesla Semi’s capabilities that is unknown." Source:

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Thomas Wasson

@ThomasWasson7

8 months

@robkhenderson Ironically so do truck drivers, DOT's FMCSA hours of service total clock is 70 hours per week for drive + on duty. A standard that has been around since the 1930's.

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Thomas Wasson

@ThomasWasson7

10 months

@TimothyDooner The age of big tech salary bro is over, the age of UPS driver has begun. All rooftop bars will now have Coors banquet on draft and one TV dedicated to the latest UFC fight.

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Thomas Wasson

@ThomasWasson7

1 year

@FreightAlley I tip my hat off to the Economist who wrote this compelling piece involving spot and contract rates

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Thomas Wasson

@ThomasWasson7

6 months

@tattedrecruiter @big_sib @FATMANSPUDKING @Freight_Bandit @taylorbilt Forbidden Tuna Can

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Thomas Wasson

@ThomasWasson7

8 months

I’m dropping RFP strategy nuggets today

SiriusXM’s Road Dog Trucking

@RoadDogTrucking

8 months

ICYMI: It's Trucking Tuesday on @FreightWaves Radio. @GracieManelafr8 chatted with @ThomasWasson7 about big issues facing the industry. Thomas highlighted what shippers could be thinking as they prepare to tackle contract and spot rates. Listen here:

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