Mike McCarron is the president of Left Lane Associates, a firm that specializes in growth strategies, both organic and through mergers and acquisitions. A 33-year industry veteran, Mike founded MSM Transportation, which he sold in 2012. He can be reached at email@example.com, 1-844-311-7335, or @AceMcC on Twitter.
I was 47, and like many entrepreneurs of my vintage, most of my net worth was tied up in my trucking company, MSM Transportation. I was starting to think about how to turn that equity into long-term financial security for my family. Four weeks after that chance meeting in the Air Canada lounge, an offer to buy MSM rolled off the fax machine. My head was spinning!
Insurance captives are a way for best-in-class carriers (which apparently we were) to lower their costs by eliminating class underwriting while retaining profits and investment income. Simply put, when you join a captive you become a minority partner in an insurance company owned and managed by like-minded carriers.
It was great news to see Federal Transport Minister Marc Garneau and his provincial cohorts promise a national training standard for entry-level truck drivers by next year. Raising the bar for driver skills and professionalism can only help the industry […]
I was overwhelmed by the feedback I received about last month’s column on fuel surcharges. Some of you really liked what I had to say. Others, not so much. In the column I challenged the system the industry uses to […]
With so much focus on attracting new truck drivers, it’s surprising we don’t pay more attention to keeping the ones we have alive longer. According to the U.S. Center for Disease Control (CDC), the average life expectancy of a commercial […]
The trucking industry has trouble finding drivers, and it’s no secret that pay is part of the problem. The fact that truck drivers bring home the same dough as they did 40 years ago, when the cost of living was half of what it is today, certainly has something to do with it. Carriers have increased driver pay lately, but all those empty seats indicate that reform is still needed.
From all accounts coming out of last month’s Canadian Trucking Alliance (CTA) board meeting, the driver contractor issue is finally getting the attention it deserves. With Driver Inc. on the agenda, the alliance brought Canada Revenue Agency (CRA) to the table and the government said it’s serious about nailing culprits who are not paying their fair share of taxes or forming sham companies for drivers who have no clue what they are signing up for.