Why Investing in the Trucking Industry is Worth the Risks

The fluctuating prices of oil, stringent clean air regulations, and fewer new drivers who are entering the profession are just among the many factors why some might think that investing in the trucking industry is not worth the risks. But amid these drawbacks, many still see the industry as among the soundest and most stable sector to invest into. Below are just some of the many reasons why several people are drawn to investing in this industry.

Continuous Demand

A report by the Wall Street Journal revealed that the trucking industry is operating near its 100% capacity, which means that the country relies heavily on trucks to deliver their final goods to the consumers. Trucking industry emulates a country’s economic activity. As manufacturing and consumer spending become livelier and stronger, the demand for trucking services also increases.

Improved Cash Flow

There are many innovative business solutions now in place that ensure a seamless and secured cash flow for trucking businesses. According to the website of TBS Factoring Service, freight factoring, for instance, allows trucking companies and drivers to be paid right away by a factoring company after you deliver the goods to the receiver. Because you don’t have to wait for a few weeks to receive your payment from the broker, you are able to move on to your next load without much delay.

Cheaper Natural Gas

Today’s natural gas boom makes it more appealing to invest into the trucking industry. Knox News reported that more and more trucking fleets are now switching to compressed natural gas (CNG), which is cheaper than diesel or petrol. An increasing number of CNG refueling stations are also being built to accommodate for fleets that use natural gas. Also, because CNG emits fewer pollutants, such as nitrogen and sulfur oxides, it is considered more environment-friendly than its conventional counterparts.

Just like in any other sectors, investing in the trucking industry has its own set of risks and rewards. By studying closely the dynamic landscape of the trucking industry, you will be able to learn more about the challenges and what needs to be done to overcome them.

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What You Need to Know about Defective Tires and Their Risk of Car Accidents

On Monday, August 10, BFGoodrich has issued a voluntary recall of eight of its BFGoodrich commercial light truck tire sizes after receiving reports that the affected tires may lose air pressure due to a defective sidewall, making the vehicles more prone to tire-related car accidents. The company said the recall affects approximately 129,000 tires, 104,000 of which were sold in the U.S.

This is just among the country’s many tire recalls initiated by some of the biggest tire makers after learning about design and manufacturing defects that pose inherent risk to property and lives. Tires are the car’s direct contact to the road. When damaged, it may compromise the driver’s control over the vehicle, which may result in disastrous accidents.

According to the website of lawyers Habush Habush & Rottier S.C. ®, defective tires could be a result of one or more of these factors:

  • Faulty tire engineering
  • Defective tread design, which may compromise the tire’s traction or grip
  • Use of substandard materials, for instance, the use of a low-quality rubber and ineffective adhesive
  • Improper tire installation, for instance, improper tire mounting and rotation

According to the website of the LaMarca Law Group, P.C., being involved in a major car accident caused by a defective tire could cause a person to be badly injured. Apart from the injuries, patients would also have to face hefty medical bills and longer recovery period that may put a strain on their finances.

However, you should always keep in mind that even if a tire-related car accident is minor, for instance, if the accident left no visible mark of damage to your car, the website of McCutchen & Sexton – The Law Firm says that it is not a bad idea to seek medical attention for any possible injuries you may have sustained unsuspectingly during the crash.

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What if I Die without a Will?

One of the ultimate goals of estate planning is to ensure that your loved ones will be financially secured in the event that something happened to you. While planning for your loved ones’ future upon your death may sound unappealing, the reality is that conflicts may arise among your family members if you fail to plan for your estate. It is important to deal with it in a clear and transparent way to avoid conflicts in the far future.

According to the website of Arenson Law Group, PC, planning for your estate involves different issues; one of them is the creation of a valid will. A will is a legal document a person creates to indicate how they may want to distribute their properties at death. It is important to consult with a probate lawyer to learn about the different legal requirements each states has when creating a will.

If a person dies without a will, he/she is said to have died “intestate.” During intestacy, beneficiaries cannot dispute how the state would distribute the deceased person’s properties. Furthermore, you will have no control over who will receive what, and may even result in an outcome that is totally not in favor of what you wanted to happen.

The rules of intestate succession vary from state to state. In most states, for instance, the properties of an intestate person will be distributed in this manner:

  • Surviving spouse
  • Issues, or the children of the deceased
  • Parent/s, if the deceased has no surviving spouse or issues
  • Brothers and sisters of the deceased or their issues if there is no surviving spouse or parent
  • Grandparent/s. In many states, the deceased person’s property will be split into the surviving paternal and maternal grandparents and their issues
  • Uncles, aunts, and their issues
  • Commonwealth

Planning for your estate provides you great control over how you would want to secure your loved ones’ future; and so it is very important to consult with an attorney who knows well the intricacies surrounding this area of the law.

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