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Maverick Transportation initiates 4th pay increase this year

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LITTLE ROCK, Ark. — Maverick Transportation is initiating its fourth pay increase this year along with a new weekly guarantee pay.

This new raise in pay is for its drivers in regional and over-the-road flatbed divisions.

The weekly minimum guarantee pay applies to all flatbed, glass and temperature control over the road divisions.

“Maverick is excited to announce another significant pay increase for our over the road drivers.” said John Culp, president of Maverick Transportation. “Our drivers are the backbone of our company and we are proud to offer them this industry leading pay package”

The new pay increase, which goes into effect Sunday, will add $.05 per mile for flatbed regional drivers and $.03 per mile for flatbed over-the-road drivers, bringing the starting pay to $.54-$.58 per mile and student starting pay to $.52 per mile.

Along with the pay increase, Maverick also announced a $1,000 per week guarantee pay which now applies to flatbed, glass and temperature control over the road divisions. Both the increase and the weekly guarantee pay are also scheduled to go into effect Sunday.

Maverick Transportation recently received the prestigious recognition of being named as a Top Pay Carrier for 2018 by Newsal Transportation Institute (NTI).

“Maverick has a strong reputation in the trucking industry for consistently offering one of the best compensation packages around,” Culp said.

The Arkansas-based carrier rolled out a new pay for experience plan and student pay increase in June, temperature control division pay increase in April and glass and flatbed division increase last December. Maverick also announced per-diem pay and new sign-on bonuses in recent months.

In addition, Maverick drivers also earn pay increases up to five years and up to a 6 cent per mile pay for performance bonus.

Clup said other driver benefits include “excellent” home time, weekend guarantee pay, paid orientation and training, paid weigh station bypass and tolls, 401k plan + match, company-paid life insurance, health and dental insurance options, paid vacation and a driver referral bonus program.

To learn more about driving opportunities at Maverick visit or call (800) 201-7695.

To learn more about Maverick Transportation visit .

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dexFreight names Justin Banon chief operating officers

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dexFreight is a decentralized, blockchain-based logistics platform that allows shippers, carriers and other supply chain stakeholders to transact and collaborate more efficiently, transparently and securely. (Courtesy: DEXFREIGHT)

SUNRISE, Fla. — dexFreight,  providers of a decentralized, blockchain-based logistics platform, has appointed blockchain academic and business leader Justin Banon  as its chief operating officer.

Banon has been a key advisor for dexFreight and has taken a lead role in the architecture of the company’s existing triple token model, and has collaborated in structuring the company’s business plan and soon-to-be-released rewards program, according to Hector Hernandez, dexFreight co-founder.

Justin Banon brings to dexFreight over 20 years of business leadership experience advising CEOs and boards of directors on how to scale disruptive ventures.

“Justin Banon brings to dexFreight a wealth of global business leadership experience including high growth business models, digital strategy and platform design,” Hernandez said. “He understands the complexity of token economics, loyalty programs and go-to-market strategies in a way that few executives can hope to, we are thrilled to have him on our team.”

Previously leading a global platform business that grew from $50 million to $1 billion in revenue through business model innovation, Banon brings to dexFreight over 20 years of business leadership experience advising CEOs and boards of directors on how to scale disruptive ventures.

In addition to his professional track record, Banon holds a bachelor’s degree in physics and a masters in innovation with a focus on network-effects business models and digital transformation.

Currently, he is completing a second masters degree in blockchain with a focus on token-powered network effects business models.

“dexFreight is a fantastic business set to disrupt and transform the logistics industry with a decentralized platform,” Banon said.  “I am excited at the opportunity to join the leadership team as we lead the business on its next stage of strategic development.”

dexFreight is a decentralized, blockchain-based logistics platform that allows shippers, carriers and other supply chain stakeholders to transact and collaborate more efficiently, transparently and securely.

For information, visit

 

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ACT Research says freight recession likely

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ACT says its Dashboard guidance at the end of 2018 suggests today’s order weakness will transition from “too much backlog” to an equipment supply-freight demand imbalance in the near future. (The Trucker file photo)

COLUMBUS, Ind.  – According to ACT Research’s (ACT) latest release of the North American Commercial Vehicle Outlook, a freight recession is not out of the question, but the easier call is a rate recession as truck supply-freight demand fall out of balance.

“While there is a very low probability and no expectation of an economy-wide recession in 2019, freight-related data points have been sufficiently bad in breadth and duration to note that a freight recession is possible, although unlikely,” said Kenny Vieth, ACT’s president and senior analyst. “That said, slower freight growth, an easing of driver supply constraints, the resumption of the long-run freight productivity trend, and strong Class 8 tractor fleet growth will increasingly pressure rates and by extension, trucker profitability in 2019.”

Regarding heavy vehicle demand, Vieth said the rolling-over of ACT’s Dashboard guidance at the end of 2018 suggests today’s order weakness will transition from “too much backlog” to an equipment supply-freight demand imbalance in the near future.

Despite his cautious tenor, Vieth said that the heavy commercial vehicle market continues to benefit from a still-broad spectrum of supply and demand-side triggers, including still-strong carrier profits, desirable new technologies, better fuel economy, and for trailers increased demand for drop-and-hook to keep drivers moving.

Regarding ACT’s medium duty forecasts, Vieth said preliminary February net orders were moderately above the current trend.

“Orders averaging 24,100 units per month for the past six months have diminished from the strong upward pressure they exerted on the forecast in the first half of 2018,” he said.

ACT Research is a publisher of commercial vehicle truck, trailer, and bus industry data, market analysis and forecasting services for the North American and China markets.

For more information, visit .

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Class 8 used truck sales volume drops in February

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Average prices for used Class 8 trucks in February were 15 percent higher than one year ago, according to ACT Research. (The Trucker file photo)

COLUMBUS, Ind. — Preliminary used Class 8 volumes (same dealer sales) declined moderately in February, falling 5 percent month-over-month thus erasing a portion of January’s 10 percent improvement, according to the latest preliminary release of the State of the Industry: U.S. Classes 3-8 Used Trucks published by ACT Research. However, the report indicated that longer-term comparisons yielded a 20 percent decline compared to February 2018.

Other data released in ACT’s preliminary report included year-over-year comparisons for February 2019, which showed that average prices rose 15 percent, while average miles contracted 5 percent, and average age was 3 percent higher.

“Generally, low inventory and strong demand increase price, while higher supply and softer demand tend to drive prices lower,” said Steve Tam, vice president at ACT Research. “The current pricing environment and dealer commentary suggest inventory remains one of, if not the main, limiting factor inhibiting sales volumes.”

ACT’s Classes 3-8 Used Truck Report provides data on the average selling price, miles, and age based on a sample of industry data. In addition, the report provides the average selling price for top-selling Class 8 models for each of the major truck OEMs — Freightliner (Daimler); Kenworth and Peterbilt (Paccar); International (Navistar); and Volvo and Mack (Volvo).

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