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.
Read it at The Los Angeles TimesArchive
Truckers Feel Economic Sting
Big Rigs
More than 700 companies out of business in third quarter.
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