Josh Hawley Blames Wall Street & Private Equity for Firetruck Shortage

The Fire Apparatus Crisis

• 🚒 Since 2020, the prices for fire trucks have doubled, and delivery times have quadrupled, creating a nationwide shortage.
• 🚨 Fire chiefs across the country report an inability to obtain desperately needed fire equipment, with prices and waiting times at unprecedented levels.
• 🏘️ This crisis affects both rural and urban fire departments, leaving many with aging engines or no functional trucks, forcing them to borrow from neighbors.

Real-World Consequences

• 🔥 A stark example is the January wildfires in California, where over half of the LA Fire Department's aging engines were out of commission during the crisis.
• ⚠️ Increased response times due to equipment shortages can lead to loss of life and property damage.

The Role of Wall Street and Private Equity

• 🏦 Senator Hawley points to Wall Street and private equity as the primary cause of the crisis.
• 📈 In 2008, a private equity entity acquired a firetruck manufacturer, leading to the consolidation of several brands under the REV Group.
• 📊 Currently, three or four companies control 70-80% of the firetruck market.

Profit Over Public Safety

• ⏳ Since 2020, the largest manufacturers have seen their order backlogs more than quadruple, with delivery times now ranging from two to four years.
• 💰 Despite massive backlogs and increased waiting times, these companies are reporting record profits.
• ❓ The central question is where this increased profitability is going, as fire departments struggle to acquire essential equipment.