Rick Jordon Explores the Impact of Trucking Industry Challenges on Banks
Washington, D.C., June 27, 2023 — Rick Jordon, a Senior Managing Director within FTI Consulting’s Corporate Finance & Restructuring segment, explores the impact that trucking industry challenges may be having on banks in an interview with American Banker. The trucking industry is in a “freight recession” and banks are “getting nervous,” Mr. Jordon said, as truckers see far less demand than just a year ago. “The longer this recession lasts, the harder it's going to be to pay down those term loans or ABLs,” he said, referring to asset-based loans. Read the full article here (subscription required).
Mr. Jordon is a business transformation expert with more than 30 years of experience in global operations, providing clients with insights into business improvements and value within transportation and logistics. His expertise includes leading strategic sourcing and procurement initiatives, selecting and implementing new technology and assisting clients to create strategic supply chain plans to ensure cost alignment with growth forecasts.
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Source: FTI Consulting, Inc.