2008 Financial Crisis

BXDIVER

Expert Expediter
Driver
This post is directed towards van owner operators that were in service during the 2008 US Financial Crisis. I was wondering how bad did things get, and how long did it take to get back on track.
Thanks.
 
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Treadmill

Veteran Expediter
Owner/Operator
This post is directed towards van owner operators that were in service during the 2008 US Financial Crisis. I was wondering how bad did things get, and how long did it take to get back on track.
Thanks.
I have been in this buisness for about 21 yrs. if i remember correctly when the baking crisis hit, it was like turning off the faucet. Freight stopped immediately and it lasted til the second half of 2009. Nine months of treading water.
 
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BigStickJr

Veteran Expediter
Retired Expediter
This post is directed towards van owner operators that were in service during the 2008 US Financial Crisis. I was wondering how bad did things get, and how long did it take to get back on track.
Thanks.
I have been in this buisness for about 21 yrs. if i remember correctly when the baking crisis hit, it was like turning off the faucet. Freight stopped immediately and it lasted til the second half of 2009. Nine months of treading water.

The only baking crisis I remember was one weekend my wife, now ex-wife, refused to make cornbread.
The freight slow down of 2008 ?
I don’t remember. I was too busy Trucking to notice any slowdown.
 

FlyingVan

Moderator
Staff member
Owner/Operator
It was pretty bad. I was only getting one or two short loads a week, if even that. I was able to survive because I was running a very lean opperation. No debt other than the van payment which was $594.41 monthly. I was able to make the money for the van payment in a week, or somerimes two. If I had a mortgage, and car payments, and credit card debt, I would have been out just like many others.

I discovered Dave Ramsey and his 'beans and rice, rice and beans' during those times and I decided to pay the van off early to have that payment off of my back. That is basically what I did. I forget now how long it took to gather together all the money to pay off the van, but I was able to write the $14k and some change check to pay off the van before the slowdown was over.


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guido4475

Not a Member
This post is directed towards van owner operators that were in service during the 2008 US Financial Crisis. I was wondering how bad did things get, and how long did it take to get back on track.
Thanks.


The financial crisis???? isn't that when Obama was in office, destroying this country ????lol
 
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Ragman

Veteran Expediter
Retired Expediter
This post is directed towards van owner operators that were in service during the 2008 US Financial Crisis. I was wondering how bad did things get, and how long did it take to get back on track.
Thanks.


The financial crisis???? isn't that when Obama was in office, destroying this country ????lol
Nope..... it started in Jan '08. Obama hadn't been elected yet. It was Bushs fault. ;)
 
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Solar

Expert Expediter
Owner/Operator
This post is directed towards van owner operators that were in service during the 2008 US Financial Crisis. I was wondering how bad did things get, and how long did it take to get back on track.
Thanks.


The financial crisis???? isn't that when Obama was in office, destroying this country ????lol
Nope..... it started in Jan '08. Obama hadn't been elected yet. It was Bushs fault. ;)

And to think, FOX News and every Conservative pundit was pushing for Jeb Bush.

What were they thinking?
 

blizzard2014

Veteran Expediter
Driver
This post is directed towards van owner operators that were in service during the 2008 US Financial Crisis. I was wondering how bad did things get, and how long did it take to get back on track.
Thanks.
I have been in this buisness for about 21 yrs. if i remember correctly when the baking crisis hit, it was like turning off the faucet. Freight stopped immediately and it lasted til the second half of 2009. Nine months of treading water.

And now we know how Treadmill got his screen name! lol
 
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