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Roemer Report – July 2008

Pilot Program May Bring Relief: Some are saying that trucking is enduring the biggest shakeout since 1980 when the industry was deregulated. Hardest hit are small operators. In the first quarter, 935 small motor carriers went out of business, compared to 385 a year ago. Truckers’ difficulties are not going unnoticed on Capitol Hill. Maine’s two senators have introduced legislation that would help truckers cope with the escalating cost of diesel fuel. Republican Senators Susan Collins and Olympia Snowe proposed a two-year pilot program that would allow rigs to carry up to 100,000 pounds on the federal interstate system whenever diesel fuel reaches a certain price per gallon. The higher weight limit would allow trucks to carry more cargo and eliminate the need for drivers to move onto local roads that require more fuel and idling time, according to Collins. “Current laws that force trucks carrying more than 80,000 pounds off the federal interstate system, and onto smaller, two-lane roads, simply do not make sense,” she said. “This legislation would lessen the fuel cost burden on trucks by putting these trucks back on the federal interstate where they belong.” The Maine Department of Transportation conducted a study four years ago and found that higher weight limits would be safer and save money.

Senate Spars While Prices Climb: It’s not just U.S. truckers who are feeling the devastating effects of oil prices. Truckers in Spain, France, Portugal, India, Nepal, and Hong Kong have recently staged large and far-reaching strikes to protest spikes in diesel fuel prices that are over $10 per gallon in Europe. “No one is earning enough money to eat any more: not the truckers, not the fishermen, nobody, and someone has to find a solution,” said the president of a Spanish transportation group. That frustration is keenly felt in the United States too. The American Trucking Associations sent a letter to President Bush requesting that he release oil from the Strategic Petroleum Reserve to provide relief from skyrocketing oil prices; some legislators have been requesting the same action. Shirley Turner, a New Jersey State Senator, said it worked when President Clinton released a million barrels of oil daily for 30 days from the Strategic Reserve supply. Meanwhile, Democratic leaders tried to impose a tax on the windfall profits of the largest oil companies, but Republicans blocked the proposal. The bill would have imposed a 25 percent tax on profits over those considered “reasonable” and would have rescinded oil company tax breaks worth $17 billion over the next 10 years. Republican leader Mitch McConnell of Kentucky acknowledged that high oil prices are hurting Americans, but ridiculed those who “think we can tax our way out of this problem.” He says the solution is, in part, to increase domestic production, but the Democrats oppose drilling in Alaska’s Arctic National Wildlife Refuge.

Beware Of Scams: Con artists are notorious for preying on victims when the economy is weak and people want good news. Unfortunately, motor carriers in the United States and Canada have reported such scams. Trucking companies in Missouri, Virginia, and Wisconsin recently received letters that appeared to be from the U.S. Department of Transportation requesting bank account information, according to Land Line magazine, but the DOT sent no such letters. Anyone who faxed information to the fake number should contact their financial institutions and tell them to look out for unauthorized wire transfers, and they should call the DOT’s hot line at (800) 424-9071. In Ontario, several trucking companies have been targeted by a fuel tax scam, and some victims have lost tens of thousands of dollars. In these cases, con artists pose as accountants who approach Canadian trucking firms with the tantalizing (and false) information that they are eligible for a refund of the excise tax paid on fuel purchased in the United States. The carrier pays the “accountant” a fee and later will have to pay the IRS a fine, once the IRS realizes the carrier tried to fraudulently collect a tax refund. For a list of the “dirty dozen” tax scams to be aware of, check out the IRS website. And before you respond to a letter or email requesting information, contact the agency directly to confirm that the request is legitimate.

Sleep Gets Short Shrift: Before Thomas Edison invented the light bulb in 1880, people slept an average of 10 hours a night. Now Americans average just 6.9 hours of sleep on weeknights and 7.5 hours on weekends, compared to the recommended seven to eight hours of sleep. When you fail to get adequate sleep, you expose yourself to risk, said Dr. Greg Belenky, a sleep expert at Washington State University. Lack of sleep affects a person in two main ways. First, it influences day-to-day performance. “You short-change yourself of sleep,” Belenky said, “and you see the effects immediately. You can make a bad decision. You can miss something. Have a moment’s inattention, and you’re off the road.” Second, lack of sleep causes longer-term effects on health. Inadequate sleep has been linked to weight gain, diabetes, high blood pressure, heart problems, depression, and substance abuse. Two groups of people are lacking in sleep: those who consciously choose to sleep less in order to do more and those who suffer from a sleep disorder. Those in the first category are often proud about how little sleep they “need,” but their needs, in reality, are typically far greater than their claims. And those in the second group, who experience sleep disorders such as insomnia or sleep apnea, should consult their doctor.

U.S. Roads Can't Keep Up: In a speech at the International Bridge Conference in Pittsburgh, one expert said the United States is woefully behind China and India in building new roads and bridges. China plans to build 53,000 miles of new highway in the first two decades of the century, compared to 1,130 new interstate miles in the United States. Peter Ruane, president and CEO of the American Road and Transportation Builders, said, “We here in the U.S. have not done enough to meet our transportation needs. There is a need for greater investment and greater attention.” Ruane contends that the presidential candidates are not focusing on the dire condition of the nation’s infrastructure and encouraged the audience to get involved. Ruane recommended lobbying Congress to replenish the Highway Trust Fund, which is short $3.7 billion for the coming fiscal year. Without money in the fund, states will lose up to 34 percent of their federal funding for highways and bridges, according to Ruane. The American Road and Transportation Builders recommends developing truck-only lanes along interstates to handle what’s expected to be a doubling of truck traffic in the next 25 years. Ruane’s group also recommends two moves that are highly unpopular with truckers and other motorists: increase the federal tax on fuel by at least 10 cents per gallon and implement new tolls and taxes to help fund
transportation improvements.

Health Care—McCain Vs. Obama: The face of U.S. health care may change drastically in the next few years depending on who is elected president. John McCain says he plans to increase the variety and affordability of health insurance through competition. He will allow families to shop around for health care insurance nationwide, which would maximize choices and increase competition, thereby reducing rates, he contends. McCain’s plan includes: tax credits of $2,500 for individuals and $5,000 for families to help them buy coverage in the individual-insurance market; multi-year coverage, which transfers when people change jobs or move; and the ability to buy insurance through any organization, including employers, churches, professional associations, or directly from insurance companies. Meanwhile, Barack Obama says he intends to provide quality, affordable, and portable coverage for all Americans. He plans to institute a new national health plan open to all U.S. citizens, including the self-employed and small businesses. Some features of his plan include: guaranteed eligibility, which means those with preexisting conditions can obtain health care; lower premiums, co-pays, and deductibles; simplified enrollment forms and other paperwork; and the ability for people to move from job to job without losing
their coverage.

Leadership Defined: How do you define leadership? Consider these characteristics of great leaders:

1. Great leaders inspire, motivate, and cultivate the loyalty of others. Rallying a productive, supportive team is a critical skill.
2. Leaders are focused and goal oriented. They don’t waste their efforts trying to do everything themselves, but they instead take a task and see it through.
3. They see difficulties as challenges and meet them head on.
4. Great leaders set an example by demanding more from themselves than from others. They take initiative and set the pace for the rest.
5. Leaders are decision makers. They trust their skills and judgment and do not hesitate to make the tough calls.
6. They have the vision and determination to turn goals into realities. True leaders visualize the steps and the outcome and work toward completion.
7. Great leaders are ambitious. They want the best for themselves, their companies, and their employees.

Live in such a way that you would not be ashamed to sell your parrot to the town gossip.
—Will Rogers