Most cost-benefit studies of the NMSL have found that its costs exceeded its benefits (Castle 1976; Lave 1979; Jondrow, Bowes, and Levy 1983; Forester, McNown, and Singell 1984).
The next section provides empirical evidence of the explosive growth in CB use immediately after the NMSL's implementation.
It is easy to conclude, based on these statistics, that the observed boom in CB sales and use was a direct response to the imposition of the NMSL. In the next section, we present evidence in support of this claim, arguing specifically that truckers led the way in the CB boom for economic reasons.
Regardless of the particular proportions of owner-operators and company drivers during the NMSL era, (5) it is clear that most truckers, for obvious economic reasons, are paid either by the mile or by the job because this "piecework" compensation scheme gives them the incentive to maximize output for any given time input.
The 55-mph NMSL clearly reduced the speeds at which truckers could legally operate and hence their overall productivity in moving goods from point A to point B in a given time.
Truckers not surprisingly opposed the NMSL and protested vociferously.
NMSL, a subsidiary of Newcastle Building Society, provides mortgage processing services for other financial service providers.
The appointment to this newly-created position follows a string of high-profile partnerships signed by NMSL, including an agreement with leading mortgage intermediary network Openwork.
Before joining NMSL he was head of branch sales for the Society.
He said: "This year business has really taken off for NMSL and we now have an extremely strong client base.
NMSL offers a range of services around non-prime processing, including an online decision in principle facility and online tracking.