Have You Been Injured in an Accident With a Midwest Coast Transport Truck?
The last thing that a person wants to consider when they've been injured in a horrific commercial vehicle accident is the financial position of a company. However, in certain circumstances, that financial position, whether a company is rapidly expanding and experiencing record profits or slowly declining in the face of stiff competition, can impact a truck accident injury case.
The truth is that companies with declining revenue, like the parent company of Midwest Coast Transport, have to stem the bleeding wherever they can. Given the horrific nature of the injuries that often occur when a passenger car is struck by an 18-wheeler, a victim's medical bills alone can represent a significant blow to a trucking company's bottom line. This gives companies a powerful incentive to fight as hard as they can to pay for as little of the damage that their driver caused as possible.
It's sad to say, but based upon publicly reported data, Comcar, the parent company of Midwest Coast Transport, fits that profile. Dallas truck accident injury attorney Michael Grossman explains how that can impact victims who are just trying to get the resources they need to put their lives back together after a devastating commercial truck accident.
Questions answered on this page:
- How large a fleet does Midwest Coast Transport operate?
- How many crashes have Midwest Coast Transport trucks been involved in over the last 2 years?
- How much have Comcar revenues fallen over the past 5 years, and how can that impact victims?
About Midwest Coast Transport
Midwest Coast Transport (MCT), is the Sioux Falls, South Dakota-based subsidiary of Comcar Industries. MCT has a relatively small fleet of 386 trucks driven by 317 drivers. Those drivers move goods over 38 million miles of highway in a given year.
Based on a rough estimate based on public records, MCT appears to account for a bit under 25% of Comcar's entire truck fleet. At first glance, Comcar's revenue appears to be a healthy $240 million for 2017, but this number obscures the fact that as recently as 2013 company revenues exceeded $370 million. That's an income decline of over 35%.
Over the past 2 years, MCT trucks have been involved in 28 crashes; 9 of those accidents resulted in at least 1 injury. There have been no fatal collisions involving MCT trucks since 2016. In the interest of fairness, it's important to remember that government crash statistics do not take into account fault, which means that even if MCT wasn't responsible for a particular accident, it's still included in the numbers.
MCT's rate of accidents when accounting for fleet size and distance traveled is about average for the industry. Other than concerns over the company's declining revenue, MCT's safety profile is about what one would expect given its size.
The Two Sides of a Trucking Company With Declining Revenue Coin
A company being in the throes of economic difficulties is one aspect of an injury or wrongful death case that cannot be overlooked. Responsible attorneys will consider these facts when formulating their strategy. Generally speaking, a company with financial difficulties presents both challenges and opportunities.
Obviously, if a trucking company is losing market share and revenue, they want to pay as little as possible for the injuries or deaths that their drivers cause. Every dollar that goes to a victim is a dollar that isn't available to keep qualified drivers, invest in trucks, and service debt. Given these pressures, companies will often fight much harder to minimize what a victim receives, which can be a source of frustration and anger for people just trying to put their lives back together.
At the same time, a company's financial distress also presents opportunities for victims, if their claim is handled properly. The key to getting a fair resolution to a commercial truck accident injury case is the risk that a jury will force a company to pay far more at trial than they would have to if they just stepped up to the plate and did the right thing from the start.
If the pressure to cut all costs forces struggling trucking companies to fight harder to avoid accountability for a crash, the potential for a devastating jury verdict can be leveraged to make them see things in a more sober light. In many instances, doing the right thing presents the company with an unwelcome burden, while a substantial jury verdict can represent a death blow, from which the beleaguered company cannot recover.
The key to knowing which circumstances apply to a particular crash and trucking company is the assistance of an experienced attorney who has an extensive knowledge, not only of the law, but also the trucking industry. The attorneys at Grossman Law Offices fit that bill.
The Attorneys of Grossman Law Offices Are Here To Help
For nearly 3 decades, the attorneys at Grossman Law Offices have been looking out for the interests of the injured or those who have lost loved ones. The firm has successfully resolved hundreds of commercial truck accident cases. Holding trucking companies accountable for careless or reckless behavior is what we do.
If you would like to know how Grossman Law Offices can help you, please call our toll-free number at (855) 362-0000 to discuss your options. All consultations are free of charge and you never pay us a cent unless we win. Someone is standing by to answer you questions, any time, day or night.
Related articles for further reading: