More than 700 companies out of business in third quarter.
Forget the banking and media sectors--the real pain of the current economic meltdown is being felt most by the trucking industry, the Los Angeles Times reports. In just the third quarter alone, a whopping 785 trucking companies with a combined fleet of 39,000 trucks went out of business. And with economic activity drying up across the country, competition among trucking companies for remaining cargo has sent shipping prices off a cliff, making it hard for drivers to make ends meet.
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