Published in Issue 2, Volume 3: Careers in Gear Magazine, February, 2009

While America struggles with a hopelessly floundering economy and growing numbers of people wonder where their next meal or night’s sleep may come from, truck drivers across the nation are no exception to nationwide job losses and lowering wages as their loads continue to disappear and businesses close their doors. While some are holding on to the opportunities they have with an iron fist, others are simply walking away in disgust, seeking alternative employment, or choosing to retire a bit earlier than expected, and desperately hoping they can weather the storm. Although there are numerous disadvantages to such turmoil, some financial experts are pointing to benefits that can ease our suffering over the long term.

The problem, according to owner operator Walter Durden, is that operating expenses are continually rising while freight disappears and governments make it more difficult for drivers to continue operating. Durden went on to recount a number of drivers who have simply given up after 30-40 years on the road, unable to turn enough profit to pay their bills.  “There is a time to fight, and if you don’t get up … and say something, then they are going to keep bringing the burdens,” he said, referring to the government’s increasing restrictions on truck drivers, most especially in the state of California.

As available loads decrease and the number of unemployed drivers continues to grow, companies are also finding that they can replace high-paid veteran drivers with newer drivers who are willing to work for less. Too many drivers in the field equates to companies finding a steady supply of cheaper labor, which means lower wages for drivers who are already struggling to make ends meet. Drivers are adapting to their current predicament by spending considerable time hunting for the lowest prices they can find, researching new ways to cut back operating expenses, and – above all – holding on to their present jobs despite pay cuts and quickly disappearing loads.

“Hang on to the job you’ve got, because at least you’re working,” says company driver Steve Mcgarry. This advice was stoutly reinforced by an anonymous driver who recently quit his job; frustrated with his situation, and working for managers he despised, this driver now has very little money coming in, and wishes he had “stuck it out” until alternative employment could be found. “I was working for some of the lowest people I had ever met,” said the driver, “but at least I was working. Now, I’m dropping more than a hundred applications per week and, despite an extensive resume, I haven’t gotten so much as a solitary phone call.”

Despite the fact that most people feel the same gloom-and-doom sentiment that fills local news reports every morning, there are a few who have chosen to take advantage of opportunities brought about by the economic turmoil. As financial guru Dave Ramsey frequently states, “Everything is on sale! If you’ve got cash to buy, there are plenty of deals out there.” While the idea of price negotiation seems odd when walking into an electronics store, Ramsey firmly believes that a fistful of dollars can persuade most salesmen to go the extra mile in order to find the best deal, and stock prices have never been cheaper. The evidence he puts on the table to encourage people to buy is what he calls the “track record” of the stock market, which has never lost money over any 15 year period – including the Great Depression – in addition to his personal experience finding great deals from all of his favorite stores.

No matter which financial strategy seems best, it seems clear that the only sure way to ensure survival is to spend responsibly and plan far into the future. Whether that means negotiating for stable fuel prices or stocking up on the things we need when we find a store liquidating their assets before they close their doors, we must take every bit of good that we can find in order to counteract the bad that we know is coming. In the words of company driver Butch Waldrep, “What you conserve today is what you’re going to have to eat tomorrow.” – A rule that seems perfectly reasonable to everyone who isn’t a politician.