Gainey Raises Freight Rates 5%
The chairman of Gainey Transportation Services said it is time for truckload carriers to “stop talking cents, and start talking percent.”
Gainey’s actions are part of a broad-based effort by truckload carriers to recover higher costs from business expenses, such as truck equipment, driver wages, fuel, insurance premiums and licensing fees (12-20, p. 1).
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Following his own advice, Harvey N. Gainey has notified customers that the carrier will implement a 5% across-the-board rate increase effective Feb. 1. He said the higher rates will apply to all shippers, regardless of when their contracts expire.
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“In just three categories — truck equipment, driver wages and insurance — our costs have increased 16.1% since 1994, but rates are about the same as they were five years ago,” said Gainey, whose company is based in Grand Rapids, Mich.
