So that U-turn was fast, even for the legendarily cyclical trucking business.
But traffic is up, and these are still the good times.
But freight rates remain red hot.
For the majority, pay has remained flat or has fallen over the past year.
This is a very cyclical business.
But no letup in freight rates yet.
Huge aircraft orders, booming traffic, dozens of upstarts with easy mega-funding, fierce competition, already a big collapse, and allegations of shady business.
Alarming signals are coming from an unlikely place, the market that the industry long touted as an engine of infinite growth.
The Long-Haul “Low-Cost Carrier” Business Model in a world awash in cheap money.
But ballooning inventories point at risks next year.