NC State Economist Dr. Mike Walden – “Reinventing Trucking”

11-27-15 run time 2:19

Mary:  This is Mary Walden with economist MW, welcoming you to the economic perspective.  Today’s program looks at reinventing trucking.   Mike, our economy relies on trucking.  Much of what consumers buy is delivered to retail stores by trucks – some of them over a long distance.   Even purchases we make on-line come to our front door by truck.  But I understand there may be a big shake-up coming to the trucking industry.  What is it?

Mike:  Summary Answer

  1. Trucking is a $700 billion industry
  2. Operates with third party brokers, who connect trucking firms with companies needing products shipped
  3. Some entrepreneurs are looking at cutting out the middleman – the person who matches the truckers with the shippers
  4. Use an app technology to have shippers directly contact truckers – could be faster and cheaper
  5. Like is done with the new kinds of taxi services
  6. If takes off, another example of constant flux in the economy – in with the new and out with the old
  7. I’m MW

Mary: And I’m Mary Walden for the North Carolina Cooperative Extension Service