GULFPORT, Miss.--(BUSINESS WIRE)--American Truck Group LLC (www.americantruckgroup.com) is co-sponsoring an exciting new program, similar to "a-rent-to-own" program, with Jacobson Companies of Des Moines, IA (www.jacobsonco.com). Both parties hope to eventually create hundreds of new jobs for the Transportation Industry. American Truck Group already puts 400+ owner-operators on the road a year and American Truck Group's goal is for the owner-operator, in a short time, to own the truck outright – that's right, they won't have anymore payments! Jacobson Companies will be assisting qualified drivers with the initial down payment required to enter into a Truck Rental to Buy program offered by the American Truck Group.
Jacobson Companies has a history of supply chain innovation that dates back more than 40 years. Jacobson was founded by Richard Jacobson in 1968 in Des Moines, Iowa. Jacobson has grown dramatically from its initial 96,000 square foot, eight story warehouse building in Des Moines, to today include more than 35 million square feet of warehouse space in 35 states across the United States with approximately 7,000 employees. During the 1970s, warehouse facilities started to expand from Des Moines to other cities in Iowa and around the Midwest. This was just the beginning of the expansion in years to come for warehousing. Today the Jacobson Companies is the third largest trucking warehouse property owner in the United States. Warehousing has become an essential component for American manufacturers, and Jacobson has become a primary provider of services related to this business segment.
Jacobson Transportation Company was formed to serve the product shipping needs of their warehouse customers. Although it started with only two people in the office and two company drivers, today Jacobson's Transportation Services serves 48 states and Canada. In the mid 1990s, Jacobson initiated a packaging division which was integrated with their warehousing and transportation divisions, allowing for quicker turn-around times to customers. Today, Jacobson's expertise in packaging and manufacturing covers a variety of industries, including: food commodities of all types, beverages, general commodities (paper and plastics), electronics, pharmaceuticals, tools, hardware, lawn and garden, and toys and trinkets.
The driver shortage in the transportation industry has been estimated to exceed 200,000 by mid 2013. Unlike so many other manufacturing, customer service or telemarketing jobs, a truck driver job cannot be outsourced. The relationship between American Truck Group LLC and the Jacobson Companies will expand opportunities for owner-operators to fill this void in the United States.
American Truck Group C.E.O, Louis Normand, states,“The population is growing and with it comes a growing demand for staple goods. Secondly, online shopping is replacing the tedium of many shopping trips, meaning an increased number of trucks required for goods to reach our door.” Jacobson Companies offers a wide range of solutions that will help bridge the gap. The starting lease to the owner-operator will currently pay them $1.35 per empty or loaded mile with current levels of scheduled fuel surcharge. Settlement to the Owner Operator as early as 2 days of receipt of scanned billing documents, puts Jacobson near the top in the industry for “quick turnaround” compensation, helping the owner operator successfully build his or her business. Jacobson operationally focuses on "drop and hook" relationships with their primary customers, allowing the Owner Operator to attain greater miles and revenue volume, and enhancing the Operator's success as a valued partner of Jacobson and the American Truck Group.
Both parties agree the transportation industry will continue to experience a growing need for innovative solutions, such as this great new “Rent to Buy” program offered by American Truck Group, LLC.
American Truck Group has caught the attention from a diverse group of individuals – doctors, attorneys, banks, and businessmen – who have all become inventors! At a time when returns on savings, CDs and bonds alike have dwindled to near zero, American Truck Group's private lending opportunity is catching fire. Where else can you lend money against an income producing asset? In this case, the truck becomes collateral against the loan. It's insured against loss and in the unlikely event a driver cannot get work, the truck is returned and put into service with another driver.
When asked just how popular this lending opportunity is becoming, Normand proudly announced that his latest private lender has committed a $7 million line of credit to grow his fleet. This investment opportunity is paying 12%* APR over 48 Months P&I, secured by the truck as an asset with the title perfected, with the investor showing as lien holder and also having physical damage insurance so if the truck is stolen or burns the investor is paid off by the insurance company. He went on to say that in the future he expects private lending to play an increasing role in economic recovery. In the case of American Truck Group, 700 new drivers will be put on the road. More mechanics will be put in the shop and more freight will move more efficiently across the country. An economy once strangled by lending regulations will once again be free to recover and grow.
http://www.forbes.com/sites/ericsavitz/2012/04/10/best-buy-dunn-is-done-is-the-retailer-doomed-too/
http://www.truckgauge.com/2012/02/10/driver-shortage-above-200k-no-change-until-hos-in-2013/
*adjusted by investment.