Clunker Math

[emmett]

You know I sat here for a second and thought ( damn I do that once in a while) but with the economy the way it is, in the first quarter there were like 200 trucking companies went under, the rising price of fuel the lowering price of freight is going to run many more out of business, it is so bad now anyone can buy a truck, hell they know a owner op has to be awful lucky to make it , so they are giving anyone a truck and reposing it 6 months later, when the trucking companies suffer like this it will surely be passed on to the consumer, I spoke to a driver in NC last week he works for a company that owns 3 companies, Gainey , super service, and another I can't remember , the first 2 are pretty good size companies and they are on the board to highest bidder
When the trucking industry suffers ( lets face they move America) that tells ya the state of the country

Remember, Emmett owned a trucking company when he became a member of DP......guess what, the truck I have left is sitting in front of the office collecting rust. I hauled cars! That's irony isn;t it.

The cash for clunkers program will not necessarily make a difference to me in the repo business. We're getting clubbed big time. Our clients are filing BK's left and right so the work we are doing we are getting screwed out of . One of our biggest just broke the news yesterday.

Another factor is the clunkers are being turned in but credit is not being handed out. Sure ...people with A-1 credit, say scores over 650 or so are getting loans but not the ones who end up defaulting. Way lower odds. Now...the ratio of those in better credit tiers are indeed getting picked up at a rate higher than before but the residual is catching up.

New loans are not rerplacing them at a rate fast enough. Repo companies are dropping like flies. Now ...THAT is good! Less competition....bad part is we might be one of them before long.

Hey Jeff.....is Gainey hiring?

I would lease my truck on somewhere but it needs injectors, batteries and a going over. Probably 5K or so and I ain;t got it.

[Kathianne]

Remember, Emmett owned a trucking company when he became a member of DP......guess what, the truck I have left is sitting in front of the office collecting rust. I hauled cars! That's irony isn;t it.

The cash for clunkers program will not necessarily make a difference to me in the repo business. We're getting clubbed big time. Our clients are filing BK's left and right so the work we are doing we are getting screwed out of . One of our biggest just broke the news yesterday.

Another factor is the clunkers are being turned in but credit is not being handed out. Sure ...people with A-1 credit, say scores over 650 or so are getting loans but not the ones who end up defaulting. Way lower odds. Now...the ratio of those in better credit tiers are indeed getting picked up at a rate higher than before but the residual is catching up.

New loans are not rerplacing them at a rate fast enough. Repo companies are dropping like flies. Now ...THAT is good! Less competition....bad part is we might be one of them before long.

Hey Jeff.....is Gainey hiring?

I would lease my truck on somewhere but it needs injectors, batteries and a going over. Probably 5K or so and I ain;t got it.

I'd think it's a 'very good time to be the Repo man?'