As Georgia-headquartered owner-operator Raeshawn Lucas has it, higher earning potential as an owner-operator is certainly a prime motivating factor for the decision to strike out on one's own as a business in trucking. Yet that's certainly not all when it comes bedrock goals. 

Respect, freedom of choice in so many aspects of how you do business... Truth is, owner-operators go into business for themselves for all sorts of reasons, and that was well evident in the discussion we had at the Mid-America Trucking Show with owner-operator Lucas, leased under a longtime friend and associate's authority; Landstar-leased David Nihart, who's worn a variety of trucking hats over a long career so far; and Pete Anderson of Georgetown, Texas, a vocational fleet manager with plans to move into over-the-road as a small fleet owner. 

That conversation followed Overdrive’s Partners in Business seminar at MATS with ATBS Vice President Mike Hosted and Overdrive’s own Gary Buchs, both of whom you'll also hear in today's Overdrive Radio episode, in addition to the three owners. If you missed the PIB session, find a full video of it here: https://www.overdriveonline.com/partners-in-business/video/15290282/record-owneroperator-income-could-be-longerterm-trucking-trend

Sit in on the first part of a wide-ranging discussion for insights on: 
**The benefits and tradeoffs of filing taxes as an S Corp. 
**Why independents' quality-of-life goals can explain an outsize drop in miles for year 2021. 
**The value of a large leasing partner in a high-fuel-cost environment. 
**Fuel-purchasing strategy to make sure you're getting the best price (minus state taxes). 

And more. Part 2 of the conversation will follow in the next Overdrive Radio edition. 

If you haven't as yet, you can download the Partners in Business manual, coproduced with ATBS, via this link: https://register.overdriveonline.com/pib-manual/

Why truck drivers get into business as owner-operators

The Overdrive Radio podcast is produced by Overdrive magazine, the Voice of the American Trucker for 60-plus years. Host Todd Dills -- with a supporting cast among Overdrive editors, contributors and others -- presents owner-operator business leading lights, interviews with extraordinary independent truckers and small fleet owners, and plenty in the way of trucking business and regulatory news and views. Access an archive of all episodes of Overdrive Radio going back more than a decade via this link: http://overdriveonline.com/overdrive-radio

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The Department of Justice’s Drug Enforcement Administration on May 20 officially published its notice of proposed rulemaking that, if finalized, would reschedule marijuana from a Schedule I controlled substance to Schedule III: https://www.regulations.gov/document/DEA-2024-0059-0001 

The Biden Administration signaled its intent to move forward with such a proposal earlier this month, and the NPRM’s publication formalized that effort.

The DEA’s proposal said moving marijuana from Schedule I to Schedule III under the Controlled Substances Act would be “consistent with the view of the Department of Health and Human Services (HHS) that marijuana has a currently accepted medical use, as well as HHS's views about marijuana's abuse potential and level of physical or psychological dependence.”

That, ultimately, is the difference between the two scheduling levels, as previously reported. Schedule I drugs are defined in the Act as “drugs with no currently accepted medical use and a high potential for abuse.” Those include heroin, LSD, ecstasy and, at least for now, marijuana.

Schedule II drugs, in the terms of the legislation, show “high potential for abuse, with use potentially leading to severe psychological or physical dependence,” and are considered dangerous. These include combination products with less than 15 milligrams of hydrocodone per dosage unit (Vicodin), cocaine, methamphetamine, methadone, fentanyl and more.

Drugs classified under Schedule III, how DEA is looking to classify marijuana, are those “with a moderate to low potential for physical and psychological dependence,” and have a lower abuse potential than Schedule I and Schedule II drugs. Currently, these include products containing less than 90 milligrams of codeine per dosage unit, like Tylenol with codeine, as well as ketamine, anabolic steroids, testosterone and more.

Typically, according to Brandon Wiseman, attorney and president of Trucksafe Consulting and guest for this week's Overdrive Radio podcast, Schedule III drugs “are still controlled in the sense that they require a prescription.” As such, having a Schedule III drug in your system is not necessarily a disqualifying factor in DOT drug testing. The driver must have a valid medical prescription for that drug, and the medical review officer (MRO) that validates the results of the drug test has to be comfortable that the use of that drug won’t impact the driver’s ability to safely operate a truck.

“Some prescription drugs will inhibit a driver's ability to safely operate a truck,” Wiseman said in the podcast. “And so we just weed those drivers out. Those drivers aren't going to be physically qualified. They're not going to be able to get a med card, for example, to be able to operate.” Hear much more from Wiseman in the podcast, and read Matt Cole and Alex Lockie's reporting on the rescheduling subject via these links: 

Cole: https://www.overdriveonline.com/15676307
Lockie's early two-part feature: 
**https://www.overdriveonline.com/15670141
**https://www.overdriveonline.com/regulations/article/15670542/marijuana-legalization-trucking-and-the-future-of-drug-testing

What marijuana as a Schedule III controlled substance could mean for truckers

As promised two weeks back, here's Part 2 of our talk with May Trucker of the Month Gary Schloo, longtime owner-operator leased to Long Haul Trucking for the last three decades of a five-decade trucking career. Schloo here tells a can't-miss story about how he and his wife and business partner, Terri, met. It' the "classic trucker-and-the-waitress thing" at a late-night diner early in Schloo's time as an owner-operator. 

And as most listeners are well aware, a big part of the Trucker of the Year competition, featuring owner-operator semi-finalist candidates throughout the year (including Schloo), hopes to lend useful perspective to all of you, ways to sharpen the operation, button up the business for long-term success. Owner-operator Schloo’s answer to a question I’ve asked most of our Trucker of the Month candidates – namely what their advice to any new or prospective truck owner might be – in many ways comes back to insurance. Build the nest egg early for the down cycles. Put a disability/income-replacement insurance policy in your back pocket for the things that happen to all of us -- whether illness or injury, a crash... The list could well go on. It's saved him over 50 years over-the-road more times than he can count. Hear much more on that score in this episode, likewise a special treat: 

A rundown with the Semi Casual custom shop's Brian Bourke detailing the work put into two custom-built 2024 Peterbilt Model 589s the shop showed at MATS and on the scene of the Large Cars & Guitars truck show in Tennessee, where we caught up with Bourke. 

Catch the Semi Casual video mentioned in the podcast here: https://www.youtube.com/watch?v=JOrbebJWQsI

Also mentioned -- enter yourself or another deserving owner-operator (up to three trucks) in the Bostrom Seating-sponsored Overdrive's Trucker of the Year program via this link: https://overdriveonline.com/toptrucker

Finally, a big happy birthday to Gary Schloo on May 26! We hope it's a great one.

A pair of custom 2024 Peterbilt 589s, and one standout owner's advice for the next generation

After years of scheduling needed preventive maintenance and sitting out the Roadcheck blitz, last year Mike "Mustang" Crawford hauled through his first Roadcheck in years. As we did after last year's 72-hour inspection blitz, we’ll be riding along again in this Overdrive Radio edition through three days’ worth of scale reports from our friendly on-highway chicken-house correspondent. Regular listeners may well recall that last year on runs from the Midwest all the way down to Florida, Mustang didn’t cross a single open scale. 

Can’t say that’s the case this year, though. 

And, for the balance of the episode, shift into high gear with our talk with Sharon Lee, owner of the High Road small fleet headquartered between Nashville, Tennessee, and Boston, and making a name for themselves in the concert tour-trucking world. Lee jumped on our radar after her involvement with the Academy of Country Music’s "ACM Lifting Lives" program, through which she partnered with the Mechanics on a Mission organization as well to surprise a touring professional with the gift of an automobile at a TCW event early this year -- TCW's the Touring Career Workshop, and small fleet owner Lee serves as a board member for the organization. 

Since founding High Road in 2016, she’s made big inroads with customers in the music industry here in Nashville, but it turns out her trucking history is just as deep, stretching all the way back to childhood, when her father was an owner-operator in New York State and involved in tour trucking himself. Working with one-man, one-truck operations holds a special place in her approach to this day. 

More about High Road: https://highroadusa.com

More about concert/show tour trucking in Overdrive: 
**Mobile TV production: https://www.overdriveonline.com/business/article/15634571/a-unique-beast-behind-the-scenes-in-mobile-tv-production-trucking
**Events-haul in general: https://www.overdriveonline.com/business/article/14894405/how-event-hauling-stands-out-in-the-trucking-industry 
**Clark Transfer's Broadway show hauling: https://www.overdriveonline.com/business/article/15294151/guaranteed-revenue-for-owneroperators-clark-transfer-commits

Roadcheck chicken-house wrap with the Mustang | Running the High Road with tour-haul small fleet

"Time is money," as the old saying goes, and as such "time management is money management." That was how the great Red Eye Radio host Eric Harley put it near the beginning of this our last in a series of Partners in Business short podcasts on Overdrive Radio, talks excerpted from a long roundtable conducted at the Mid-America Trucking Show this year: https://www.youtube.com/watch?v=khKP2WHZjfg&list=PLc1lg9rs1dUBRbJKjvc7UUcJRRd4iI2v3 

Time should be a factor in your analysis of any load to truly assess the potential for profit. Overdrive released a bit of a tool to help in that process -- it's a custom spreadsheet that was made available for download around the time of MATS and the big update to this year's Partners in Business owner-operator handbook: https://www.overdriveonline.com/partners-in-business/document/15666632/evaluate-any-loads-cost-in-relation-to-time-not-just-miles 

The tool clearly illustrates how added time within any load's schedule dilutes revenue and adds costs per mile as fixed costs continue to mount with any delay. It offers a way for you to calculate that impact more or less at a glance, with the input of just a few of your own numbers. The tool was developed by Overdrive contributor Gary Buchs in his efforts coaching individual owner-operators through business decisions large and small.  

In this episode, voices you’ll hear, in order of appearance, are that of our moderator Eric Harley, setting us up for discussion of time management, followed by myself, then ATBS Vice President Mike Hosted expanding with some market timing insight, and Overdrive contributor and now longtime business coach Gary Buchs, previously mentioned. 

Through to the end, all stress, too, the fundamental value of re-engagement with business fundamentals possible with the PIB program. Here’s hope the talk and broader program both give you plenty to chew as you assess prospects and performance of your own business throughout the remainder of the year. 

The educational program this year is sponsored by the great folks at the Rush Truck Centers dealer network, who share our vision for your success: https://rushtrkctr.com/4bLxbR4

As mentioned in the talk, Matthew Mickenberg's story of valuable timing: he saved $50K on the price of a new truck purchase on account of it: https://www.overdriveonline.com/overdrive-extra/article/15659622/its-a-deal-50k-saved-on-a-new-truck

What is your time worth? Re-engage with owner-operator business fundamentals to know the answer

This week's Overdrive Radio podcast edition features primarily the voice of Overdrive April Trucker of the Month, owner-operator Gary Schloo. The three-decade-plus owner's headquartered in Austin, Minnesota, leased to Long Haul Trucking out of relatively nearby Albertville. 

Today, Schloo runs dedicated to a particular customer in Long Haul Trucking’s network and can make a regular round in a day’s time, keeping him not far from his two-acre property throughout his week. It’s been his bread and butter now for nearly two decades, hauled since 2014 behind a Peterbilt 386 glider powered by a 12.7 Detroit Series 60 he bought new at the time. 

Ever with an eye on ways to save, the owner-operator adjusted his physical damage insurance shortly after the purchase, limiting the radius of his coverage to 500 miles with Great West Casualty, outside the policy he'd previously purchased through LHT. That's just one example of moves made and routines built through the years that have delivered long-term stability and profits for Schloo. Current LHT CEO Jason Michels, in Overdrive's prior story about the owner-operator, told of meeting Schloo early in his own trucking career, when he was just getting started with LHT as an owner-operator himself: https://www.overdriveonline.com/trucker-of-the-year/article/15669324/effective-insurance-exacting-analysis-deliver-gary-schloos-success 

Schloo and Michels met in West Virginia as both owners loaded there for a run back to Minnesota, then talking along the way. Schloo's generous with his time with young owners, Michels noted, and certainly was on that run where the pair met. Schloo schooled him on the importance of paying taxes so as not to get behind the eight ball with penalties and other wasted money, tracking and analyzing cost and revenue performance closely, and saving plenty as insurance against the rainy days.            

A lot of Schloo’s success comes back to insurance, in fact, building the business nest egg and other practices to guard against the unexpected: https://www.overdriveonline.com/partners-in-business/video/15667833/stock-your-trucking-pantry-against-famine-before-any-feast-ends 

That extends to health and disability. He’s carried a disability insurance policy for decades, and it’s proven plenty effective, particularly when 15 years ago now he had a heart attack that threw everything he’d built into question. Take a run through Schloo's story for more in this week's podcast. 

Owner-operator Gary Schloo is in the running for Overdrive's 2024 Trucker of the Year award, sponsor by Bostrom Seating. You can enter your own or another worthy owner-operator business for a chance at a new Bostrom seat among other prizes and recognitions, via https://overdriveonline.com/toptrucker

Why truck drivers get into business as owner-operators

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