Truckers and Travelers
Trucking Information Resource
Archive for March, 2010
Trucking Business Tidbit – Debt is Evil Because… Part 2 of 2
Thursday, March 11, 2010
posted by 18 Wheeler 12:05 AM
Hello, Fellow Drivers, Today I want to finish up with this two-part blog about debt. For all the drivers that want to start a trucking business or want to prosper even more in their present trucking business, here are some more tips from Dan Kennedy’s book, “Wealth Attraction For Entrepreneurs”.
Wealth Magnet 19 – Independence
Debt is EVIL because…
-
Every dollar you being in is instantly diminished in value by its need to contribute to servicing your debt.
-
It compels you to do things you would otherwise not do. Debt produces need. Need is completely counter-productive.
-
It leaves you vulnerable to Short-term competitive or marketplace challenges,, economic slumps, aberrant events (e.g. 9/11), etc. that you might otherwise painlessly withstand.
-
It is habit-forming. it is easy to get good at juggling debt, comfortable living in debt. You can get so good at survival skills that they are in the way of developing success skills.
-
It is a source of worry, anxiety, and frustration that interferes with wealth attractions, productivity , and even physical health.
-
It lengthens the time required to get to your Financial Independence Number, sufficient assets and investments that you never need work or earn another dollar for the rest of your life.
Everybody needs to be cautious of need. After all, if you ask most people why they go to work in the morning, they say, “to pay bills.” Very high income people say the same thing. And they are still slaves, just better dressed, because they are working for debt.
Entrepreneurs need to be especially cautious of expanding need by piling on employees, infrastructure, overhead, people, places, and things. bigger is not necessarily better. More gross may not only produce less net but also may move you from master to slave before you realize it.
Whether through debt-reduced or debt-free living, other strategies, psychological techniques, or all of the these things, I can assure you that the less you need the next deal, the next sale, the next client, or the next dollar, the easier it will be to attract all the deals, sales, clients, and dollars you could ever desire or imagine, times ten.
I hope you enjoyed the blog and that you come away with useful information for you trucking business. Remember to be sage out there!
add comment | 0 Comments
Trucking Business Tidbit – Debt is Evil Because… Part 1 of 2
Wednesday, March 10, 2010
posted by 18 Wheeler 9:34 AM
Hello, Fellow Drivers, Today I want to cover a practical subject for all of you who want to start a trucking business or who want to prosper in your present trucking business. This comes from a book I keep as a financial shot in the arm when I need to remind myself of the ways wealth comes to me. The book is written by Dan Kennedy and the short title is “Wealth Attraction For Entrepreneurs”. Here is an excerpt from chapter 19.
Wealth Magnet 19 – Independence
Wealth is attracted to wealth, money to money. But because independence is the prime outcome and benefit of wealth, wealth is also attracted to independence. One is as good as the other as a magnet. Consequently, the less you need income, the more opportunities present themselves, the more eager people are to do business with you and pay you money, and the more easily wealth is attracted. The mandates the dimple practice of living beneath your present income so that you can be and stay debt free. … I realize this is very conservative financial advice. … It is again, about attracting wealth more than it is part of a debate about using debt as investment capital. …
Many other financial gurus differ passionately. They would advise, for example, fully mortgaging your home in periods of low interest rates and investing that money in real estate, stocks, or whatever to make the spread and build up assets. I have never gotten comfortable with debt as an asset, with leveraging debt into more debt. … I also find that leverage-the-debt advice often comes from people who earn commissions selling investments. However, right now, this about that debate. The debate ignores and omits the psychology of attracting wealth by feeling wealthy at your core (not indebted) and by feeling and being independent.
Debt doesn’t just enslave through compound interest reversed. It enslaves by imposition, by telling you that you should do work you don’t want to do, accept clients or customers you can’t stand, and otherwise compromise every which way because you need money. I insist your objective should be to get to the position of not needing more income, so you can act independently, be selective, call your own shots, and be entirely free of actual or felt pressure. What I call “The Independent Position” rolls finances, attitude, reality and emotions, and the conscious and subconscious together, and it is magic.
Tune in tomorrow when we give the REST of the story, as Paul Harvey would say! Be safe out there!
Hello, Fellow Drivers, Today’s trucking industry news is about driver fatigue. Here is the buzz from Washington. The FMCSA (Federal Motor Carrier Safety Administration) is redoing their regs on HOS. The bottom line is to remember to get as much rest as your run allows and don’t stretch that log book too much! Enjoy the read and remember to be safe out there!
NTSB: Fatigue endangers across all transportation modes
Hersman highlighted a number of accident investigations across all transportation modes that included fatigue as the probable cause or a contributing factor to accidents.
The Trucker News Services
3/8/2010
WASHINGTON — National Transportation Safety Board Chairman Deborah A.P. Hersman March 5 encouraged the sleep research and healthcare community to continue their efforts to educate transportation policy makers of the dangers of fatigue in all modes of transportation. Speaking before the annual conference of the National Sleep Foundation in Washington, Chairman Hersman remarked that fatigue has been a concern for the board since the creation of the agency in 1967 and it has been an issue on the Board’s Most Wanted List of Transportation Safety Improvements since the list was established in 1990. “The work of the National Sleep Foundation and other organizations and individuals is critical to improving transportation safety policy,” said Chairman Hersman. “The NTSB is interested and willing to partner with you in developing a greater awareness of fatigue.” Hersman highlighted a number of accident investigations across all transportation modes that included fatigue as the probable cause or a contributing factor to accidents. As a result, the board has made safety recommendations that range from deploying fatigue detection systems to reduce the occurrence of accidents to installing electronic on-board recorders that collect and maintain hours of service data on vehicle operators. “We can’t always prove fatigue as a cause of an accident, but the frequency with which we now routinely document the presence of fatigue-related factors in transportation operations is alarming,” Hersman stated. Hersman remarked that while there are still no definitive tools to conclusively identify the degree to which a person is fatigued, the major challenge is to ensure that all those in transportation report to work rested and fit for duty — for their own safety and for the safety of those they are transporting.
Barb Kampbell of The Trucker staff can be reached for comment at barbkampbell@thetrucker.com.
Hello, Fellow Drivers, On 3/3/2010 I published an article about the FMCSA that they had temporarily closed their doors. This article comes straight from the FMCSA website to update that report. If you have trucking authority or want to get trucking authority, this is trucking industry news you will want to take note of. Enjoy the short read and remember to be safe out there!
Trucking Authority – The FMCSA To Be Shut Down 3-2-10
Wednesday, March 3, 2010
posted by 18 Wheeler 9:58 AM
Hello, Fellow Drivers, After taking a sabbatical from blogging I am back to keep you informed on the latest developments and information to get trucking authority or to have a successful trucking business. Land Line Magazine recently published this article about the FMCSA. It greatly affects the trucking industry. Enjoy the read and remember to be safe out there!
SPECIAL REPORT: DOT to shut down on Tuesday
Friday, Feb. 26, 2010 – As of Tuesday, March 2, a big chunk of the U.S. Department of Transportation will be shut down temporarily because of a lack of funding. Just how long it lasts will depend on Congress.
The stunning news came Friday after the Senate adjourned without passing legislation to extend surface transportation programs that were set to expire Sunday, Feb. 28.
As a result, 4,000 DOT employees will be at home without pay starting Tuesday, leaving only a skeleton crew to deal with matters of immediate safety.
Affected agencies include the Federal Highway Administration, Federal Motor Carrier Safety Administration, Federal Transit Authority and National Highway Traffic Safety Administration.
For truckers, the shutdown will bring business such as audits, authority applications, MCS-150 updates and other paperwork issues to a grinding halt.
The shutdown will not immediately affect scale houses, which are run by state law enforcement agencies. However, because FMCSA provides funding to state agencies for commercial vehicle enforcement, the furlough will put reimbursements in jeopardy.
U.S. Rep. James Oberstar, D-MN, chairman of the House Transportation and Infrastructure Committee, called an emergency press conference on Friday to shed light on the rare occurrence. The last government shutdown happened in 1995 and 1996 over disagreements about appropriations.
“The shutdown of the federal highway program means that the Federal Highway Administration won’t be able to reimburse states for highway or transit funds,” Oberstar told reporters.
The furlough and lack of funding mean no money from FMCSA to fund state commercial vehicle enforcement.
“None of that will happen because there will be no funding for it, and if there is a furlough on Tuesday there won’t be any personnel available for enforcement action,” Oberstar told Land Line.
Oberstar said the shutdown also affects the stimulus funds to states because there won’t be people in federal offices to process grants. He said some states could lose out because of the inaction.
The Highway Trust Fund has been surviving on a series of short-term extensions since the surface transportation law known as SAFETEA-LU technically expired in September 2009.
The U.S. House and Senate have been under tremendous pressure to extend the provisions of SAFETEA-LU beyond Sunday’s deadline.
U.S. Senate Majority Leader Harry Reid, D-NV, asked his colleagues on Friday to lend unanimous consent to a 30-day extension for highway programs offered by the House, but Sen. Jim Bunning, R-KY, did not consent, citing the fiscal ramifications of the $10 billion cost. Bunning’s threat of filibuster caused Reid to adjourn the Senate on Friday for the weekend. Senators are scheduled to return Tuesday with the matter only baby steps closer to resolution.
Oberstar said Friday that in order to get the DOT back to work as soon as possible, he would lend his support in the House to passing the $15 billion Senate version of jobs legislation, HR2847.
The jobs bill contains a provision for shoring up the Highway Trust Fund through the end of 2010. The House originally wanted the highway extension to last only through Sept. 30 as lawmakers work on a five- or six-year highway bill.
Tune in to Land Line and Land Line Now on Monday for continuing coverage of the shutdown and what it means for other agencies.
– By David Tanner, associate editor
david_tanner@landlinemag.com