Diane Doll, a singer, art lover and hip grandma, dies at 93
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i know one of the things you said you have to do with a trucking company is you have to start passing the rising gas prices on to the consumer. how are you doing that? actually, with the gas prices being so high, we are at a 40% fuel surcharge meaning on every dollar, we re adding $0.40 for transportation. warehouses and middle men do not eat up that cost. that cost is directly passed on to the consumer at the retail locations. so that s not good news for you and me and everyone else because now we re facing the high gas prices and now we re going to face more in, i guess, food or whatever you are transferring to us. dick, you also have a family-owned business. you say this is the worst recession since 1973? this is the worst one we ve seen. we ve been doing this 37 years and it s this is just incredible. now, i know that you put in a fuel charge, a surcharge, a couple of years ago before the gas prices started going up. what changes have you made since
gas started really skyrocketing? we ve increased the fuel surcharge just as every other trucker has to. uh-huh. frank, who do you think is to blame for the situation now? and what would you like to see happen? i think right now, i think oil speculators are anticipating a low supply of oil in their future by summer so they re raising prices now to try to drive the demand down a little bit. who do i blame? that s a tough question there. i would probably say we need some legislation passed in washington that will help the transportation industry at this level along, you know, just the same way they did with the airlines and the banks and everyone else. dick, have you had to lay off people as a result? can you keep as many employed? well, we did cut back in 2009 and that s the first time in 37 years that we let anybody go. worst part about this, over the short term, it s not terrible
but over the long term, it seeps into every one of our employee s budget and industry will have to adjust as well. have you had to lay off people? absolutely. we ve cut services and we ve taken equipment off line in an effort to reduce our overhead and naturally that leads to layoffs and that just trickles down to all of us. i know gas is up like a buck from this time last year. and as i said in the introduction, it could go up to $6 a gallon. it s going to change a lot of people s lives if we hit that. frank bourno and dick todd, thank you so much for your insights this morning. thank you. since you re not getting a break on gas, maybe it s time to get more bang for your buck? yep. we re going to go live to the auto show to show you the most fuel efficient rides. and then an angry group threatening to burn the town until politicians follow their demands. that story is straight ahead. also get a free flight.
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