Economist Noel Perry warns of more shutdowns after LME padlocks doors

From Transport Topics. One of the trucking industry’s leading economists says the abrupt shutdown of New Brighton, Minnesota-based carrier LME Inc. is an indication that trucking companies that are poorly run could be in deep trouble if the economy slows. “There is no question industry conditions are not nearly as strong as they were a…

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From Transport Topics.

One of the trucking industry’s leading economists says the abrupt shutdown of New Brighton, Minnesota-based carrier LME Inc. is an indication that trucking companies that are poorly run could be in deep trouble if the economy slows.

“There is no question industry conditions are not nearly as strong as they were a year ago,” Noel Perry of Transport Futures told Transport Topics. “If you’re a carrier that was barely breaking even a year ago, despite all of the wonderfulness we had a year ago, you’re in trouble now because industry conditions are tougher. Fleets that can’t make money have run out of time and money.”

Less-than-truckload carrier LME posted an updated notice on its website July 14 that said the employees who were unexpectedly laid off July 11 would not be getting paid soon.

See the complete article from Transport Topics online.

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