Since March 10, three large commercial U.S. banks have failed. The fallout, paired with trends that have already been happening, are being described as a “crisis” by many in the financial community, including Thomas Albrecht, CRO and CFO of Reliance Partners.
On Monday’s episode of WHAT THE TRUCK!?! Albrecht joined Dooner to discuss how the current banking troubles could affect the freight community and warn that the situation is more serious than many think. In short, it could affect a...
There’s much to gain from the nearly $2 billion in trade flows across the U.S.-Mexico border every day. Pacific trade lanes remain stifled by west coast port congestion, the ongoing COVID-19 pandemic and the trade war between the United States and China. These past-year developments have led many American companies with outsourced operations to set up shop much closer to home. Nearshoring manufacturing operations in Mexico are becoming an attractive opportunity for supply chains across North...
https://www.freightwaves.com/news/reliance-partners-bullish-on-laredo-texas-mexico-corridor
House construction nationwide is being constrained by the tight supply and mile-high price of lumber, but this squeeze has not been felt by the flatbed truckers who haul these loads.
Reliance Partners CFO Thom Albrecht said the lumber shortage can be viewed from both a glass half empty and full perspective, depending on who you ask in the supply chain.
Those hurting the most right now are the end consumers — builders and homeowners — of which many have found it difficult to finish projects on...
https://www.freightwaves.com/news/flatbed-steady-amid-lumber-shortages-construction-tightness
March’s truck transportation employment figures can be viewed as a glass half full or half empty — both perspectives have merit.
According to the U.S. Bureau of Labor Statistics (BLS), total jobs in March were recorded at 1,482,700, up 3,300 from February’s tally — a sign that things are headed in the right direction.
On the other hand, March’s figures totaled 33,500 fewer truck transportation jobs than last March, just as the industry was on the precipice of the pandemic — a sign that we may...
https://s29755.pcdn.co/news/truck-transportation-job-growth-cause-for-celebration-or-concern
Reliance Partners, one of the nation’s largest insurance agencies serving the trucking and logistics industries, announced Wednesday it has acquired Borderless Coverage, an agency specializing in North American cross-border insurance.
Mark Vickers founded Cleveland, Ohio-based Borderless Coverage in 2018. The company provides cross-border consulting services and cross-border cargo insurance to a wide range of businesses in the North American shipping industry.
“We are enthusiastic about the...
https://s29755.pcdn.co/news/reliance-partners-acquires-cross-border-insurer-borderless-coverage
Reliance Partners CFO Thom Albrecht warns that the bullish parts of freight cycles for carriers are getting shorter in duration on the upside and nastier and longer on the downside. He notes that a shift could be abrupt and felt significantly by carriers when a lot of new equipment is delivered to the market.
Such deliveries may occur at a time when consumers resume spending on services as opposed to heavy spending on goods, up 7% in recent months compared to an almost 7% drop in services...
https://www.freightwaves.com/news/prolonged-uptick-in-truck-and-trailer-orders-cause-for-concern
Reliance Partners, the Chattanooga-based insurance agency serving the commercial transportation and trucking industries, announced Monday that Thom Albrecht has joined the company as chief financial officer and chief revenue officer.
Prior to joining Reliance Partners, Albrecht was a transportation equities analyst and investment banker for nearly 30 years at several banks, including BB&T and Stephens. In October 2017, he joined Celadon Group to help Paul Svindland attempt a turnaround, serving...
https://www.freightwaves.com/news/albrecht-joins-reliance-partners-as-cfo