Credit conditions in trucking as measured by the quarterly earnings report of major lender BMO took a significant downturn in the three months ending July 31, though with one slightly positive sign.
Allowances taken by Canada-based BMO in its transportation group soared to CA$54 million ($40 million) in the third quarter. That puts the allowances figures at more than double what it was in the second and first quarters and is multiples above the allowances ever taken by the transportation group....