Freightwaves trucking news.

Based in Chattanooga TN, Thomas is an Enterprise Trucking Carrier Expert at FreightWaves with a focus on news commentary, analysis and trucking insights. Before that, he worked at a digital trucking startup aifleet, Arrive Logistics as an Account Executive, and 5 years at U.S. Xpress Enterprises Inc. with an emphasis on fleet …The addition of ReedTMS to Werner’s logistics unit pushes the division’s revenue to more than $1.1 billion. Both of Werner’s 2022 deals are expected to be accretive to earnings in year one. Werner acquires Baylor Trucking in latest deal. Werner acquires ReedTMS Logistics in $112M deal.WebFreightWaves supply chain news coverage is your leading source of global supply chain updates and information via freight data. Subscribe now for free ... Lowe’s has been changing the way it deploys trucks to deliver goods and has garnered a spot on FreightWaves’ annual list honoring shippers. Read More » Eric Kulisch ...Two reports released Tuesday convey just how bad things got in the trucking industry this fall. FTR Transportation Intelligence said trucking conditions hit an 18-month low in October 2022. High diesel costs and sinking rates pushed the firm’s Trucking Conditions Index to its lowest point since April 2020, when it hit a record bottom.

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6 min. A predictive rate index released Tuesday showed truckload pricing “tumbling” further in the second quarter while less-than-truckload rates stabilize from a “sharp drop” in the first quarter. The TD Cowen/AFS Freight Index — a compilation of data from third-party logistics provider AFS Logistics and investment bank TD Cowen ...Yellow, a 99-year-old company headquartered in Nashville, Tennessee, employs some 30,000 workers. About 22,000 of them are represented by the Teamsters union.Teamsters and Yellow have been locked in a monthslong strife over changing key work rules at the trucking fleet.

Oct 26, 2023 · The recent shutdown of Convoy, a digital freight brokerage established in 2015, shows that. Convoy enjoyed all the trappings of a runaway tech success. Its two co-founders, Dan Lewis and Grant Goodale, had Amazon and Ivy League credentials. Convoy counted Jeff Bezos, Bill Gates and (bizarrely) Bono among its investors. Mar 30, 2023 · The California Trucking Association (CTA) lawsuit that dates back to 2019, which resulted in an injunction that kept AB5 at bay in trucking for 2 1/2 years until the U.S. Supreme Court declined to review a lower court ruling against the injunction, faced a deadline Wednesday for filing additional briefs. Those briefs were to be filed by the ... Trucking companies rejected unusually high amounts of freight in 2021. Around 27% of all contract freight was getting rejected last spring. Even in late December 2021 and early January 2022, the rejection rate was more than 20%. The spike in spot rates meant more capacity on the small trucker side.The California Trucking Association (CTA) lawsuit that dates back to 2019, which resulted in an injunction that kept AB5 at bay in trucking for 2 1/2 years until the U.S. Supreme Court declined to review a lower court ruling against the injunction, faced a deadline Wednesday for filing additional briefs. Those briefs were to be filed by the ...In spite of increasing volume since the start of 2023, truckload spot rates (net of fuel) dropped from $2.02 per mile on Jan. 9 to $1.82 per mile on Jan. 25. While this is certainly above the lowest rate in the current cycle ($1.67 per mile on Nov. 17, 2022), the downward trend isn’t instilling hope for truckload carriers that the market has ...Web

7 min. On July 7, Yellow ( NASDAQ: YELL) narrowly avoided bankruptcy for the fifth time since 2009. The potential for collapse is still looming, though. That’s scaring some customers off, according to three brokers and two industry experts interviewed by FreightWaves. Recent notes from investment banks like Bank of America and Stifel have ...

2 min. Yellow’s senior vice president of sales informed her staff on Wednesday that their last day would be Friday and the less-than-truckload carrier will file bankruptcy on Monday, according to three employees who attended the video call. Yellow ( NASDAQ: YELL) is the third-largest LTL company and employs some 30,000 workers, including ...

Quicklook: Best TMS freight broker software in 2024. Best for integration with existing software: Rose Rocket TMS. Best for small- to medium-sized businesses: Truckbase. …Oct 26, 2023 · The recent shutdown of Convoy, a digital freight brokerage established in 2015, shows that. Convoy enjoyed all the trappings of a runaway tech success. Its two co-founders, Dan Lewis and Grant Goodale, had Amazon and Ivy League credentials. Convoy counted Jeff Bezos, Bill Gates and (bizarrely) Bono among its investors. Oct 15, 2023 · In the 2008 freight recession, freight brokerages were a much smaller percentage of the overall trucking market, representing just 10% of the total freight in the market. This number has doubled since then, along with the quality of freight. When I was working the freight desk at U.S. Xpress in the early 2000s, freight brokerages weren’t a ... Part of the ACF rule says fleets can only purchase ZEVs starting in January 2024 and must take ICE trucks out of their fleets by the start of 2025. But the ability to replace an ICE vehicle in a high-priority fleet after Jan. 1 is convoluted. One part of the ACF says that to keep in compliance, a fleet must have “no ICE vehicles added on or ...Although the market was filled with rumors of bankruptcy at Convoy Wednesday morning — not surprising when all loads are summarily canceled — there has been no bankruptcy filing by Convoy, according to a check of public records by FreightWaves. In April 2022, Convoy was valued at $3.8 billion after an investment of …Web

The CEO and founder of Stack AV is taking a shot at Class 8 autonomous trucking with the backing of Japan’s SoftBank Group Corp. Salesky is holding back on a lot of details of his new company, founded earlier this year with longtime collaborators Peter Rander and Brett Browning. The three oversaw Argo AI, a Level 4 autonomous vehicle …WebIf you own a box truck, you know that finding loads is crucial to keeping your business running smoothly. But with so many options out there, it can be challenging to know where to start.A third-generation family-owned trucking company and brokerage — Certified Freight Logistics, headquartered in Santa Maria, California — is ceasing operations on Saturday after 95 years. Scott Cramer, president of Certified Freight Logistics (CFL), said he notified employees on Aug. 22 that the trucking company and freight brokerage, which ...4 min. The fiscal fourth-quarter earnings of major trucking lender BMO, the former Bank of Montreal, appear to show a sudden and significant weakening of trucking credit metrics. BMO’s transportation bank of business — its gross loans and acceptances — rose to approximately CA$15.7 billion ($11.6 billion) in the quarter, its highest on ...Truckload spot rates, according to the FreightWaves National Truckload Index, hit a low of $1.67 on Nov. 17, 2022, and have since bounced back to $1.98 per mile. FreightWaves SONAR: National Truckload Index. To learn more about SONAR, click here. Trucking tender volumes also suggest that the direst of predictions have not played out.FMCSA’s own statistics red-flags the problem. Of 690,091 interstate freight carriers eligible for an FMCSA safety rating in 2021, 646,777 — roughly 94% — did not …Clarissa has covered all aspects of the trucking industry for 14 years. She is an award-winning journalist known for her investigative and business reporting. Before joining FreightWaves, she wrote for Land Line Magazine and Trucks.com. If you have a news tip or story idea, send her an email to [email protected].

FreightWaves National Truckload Index (NTI) is a seven-day moving average of spot rates that measures the U.S. for-hire, over-the-road dry van trucking market: …Photo: Jim Allen/FreightWaves. A federal judge has ordered a Mississippi trucking company and its owner, Xavier Bailey, to pay more than $482,000 after finding Bailey made false statements in order to obtain funds through the U.S. Small Business Administration’s Paycheck Protection Program (PPP). The forgivable-loan program was enacted to ...

Nov 20, 2023 · Port of Boston connects the globe, battling back against fraud and liquor logistics – WTT. Now on demand on WHAT THE TRUCK?!? Dooner is joined by Port of Boston’s Lauren Gleason; Highway’s Jordan Graft and A. Duie Pyle’s John Luciani. 18 min. Yellow, the third-largest trucking company in the less-than-truckload sector, filed for bankruptcy on Aug. 7. Now its former competitors are in a bidding war for its terminals and trucks. The company’s collapse put some 30,000 employees out of work, including 22,000 Teamsters members. That’s an uncomfortable reality for those ...3 min. Shortly after less-than-truckload carrier Yellow Corp. said Tuesday it would go through with plans to defer required contributions to funds managed by Central States Funds, the International Brotherhood of Teamsters issued a strike notice. The notice said a work stoppage could occur as soon as Monday. “Yellow has failed its workers ...FreightWaves again named one of fastest-growing companies in North America. Chattanooga, Tennessee-based FreightWaves has been named to Deloitte’s Technology Fast 500 list. Read More ». Noi Mahoney Tuesday, November 7, 2023.The multiyear decline in the financial fortunes of truckload carrier U.S. Xpress is coming to an end with the announcement Tuesday that it is being bought by Knight-Swift at a significant premium to the company’s closing stock price Monday. In one of the largest truckload carrier sales in history, Knight-Swift (NYSE: KNX) said it is paying ...Trucking Regulation. Trucking regulations are determined by several government agencies in the United States. The Federal Motor Carrier Safety Administration (FMCSA) is the lead agency responsible for trucking laws, regulating and providing safety oversight of commercial motor vehicles (including over 500,000 commercial trucking companies.Push to reshore US manufacturing motivated by global supply chain issues. Rosemary Coates, executive director of the Reshoring Institute, offers insights into supply chain issues during a keynote address Thursday at the FreightWaves F3: Future of Freight Festival. Read More ». Noi Mahoney Wednesday, November 2, 2022.WebBefore you buy a truck, you should know they aren’t a cheap commodity. Whether you want a new or slightly used truck, you’ll frequently find yourself looking for trucks worth a minimum of $30,000. But thankfully, there are still trucks avai...Breaking news breaking trucking — Back The Truck Up’s Rooster reports, “That means AB5, the controversial law forcing employers to treat independent contractors as hired employees if they serve the same primary function, is now active.”What’s especially problematic for trucking is the B prong of AB5’s ABCs. According to Kingston, “The B …The freight cycle. The freight cycle is a market cycle that describes the boom to bust cycle of the trucking freight market. A typical freight cycle lasts for three to four years and is more cyclical than a broader economic cycle. In the early part of the cycle, the freight market is balanced.

The freight cycle. The freight cycle is a market cycle that describes the boom to bust cycle of the trucking freight market. A typical freight cycle lasts for three to four years and is more cyclical than a broader economic cycle. In the early part of the cycle, the freight market is balanced.

In August 2021, a Florida jury awarded a record $1 billion verdict in a case involving two trucking companies for the death of an 18-year-old named Connor Dzion. Dzion’s family was awarded $100 million for pain and suffering and $900 million in punitive damages for negligent hiring and retention against one of the trucking companies.Web

Last-Mile Delivery. Final mile (also called “last mile”) is a term used to refer to the last leg of a delivery route (it is not a mode of transportation). Businesses can define last mile in different ways, depending on what is most relevant to their business and their customers’ expectations. Final mile delivery falls into two categories ...Jul 31, 2023 · Less-than-truckload carrier Yellow Corp. closes after 99 years in business. (Photo: Jim Allen/FreightWaves) The biggest bankruptcy in U.S. trucking history could occur in the coming days when the nation’s third-largest less-than-truckload carrier, Yellow Corp., files. The company ceased all operations at noon on Sunday, and leadership ... 3 min. Yellow appears to be halting pickups in some areas of the Northeast, as well as Ohio, California and Texas, according to account executives who spoke to FreightWaves anonymously and company communication shared with FreightWaves. Nationwide, Yellow said in a memo sent to employees and shared to FreightWaves on …WebNov 16, 2023 · 5 min. Truckload carriers and 3PLs have seen little change in demand halfway through the fourth quarter, and some are pointing deeper into 2024 before the market corrects. The comments came from heads of some of the largest publicly traded TL providers at Stephens 25th Annual Investment Conference in Nashville, Tennessee, on Tuesday. In August 2021, a Florida jury awarded a record $1 billion verdict in a case involving two trucking companies for the death of an 18-year-old named Connor Dzion. Dzion’s family was awarded $100 million for pain and suffering and $900 million in punitive damages for negligent hiring and retention against one of the trucking companies.Sep 25, 2023 · Indiana-based Elmer Buchta Trucking and its entities recently filed for Chapter 11 bankruptcy. Photo: Jim Allen/FreightWaves. An 85-year-old Indiana-based trucking and logistics company and its affiliates recently filed for Chapter 11 bankruptcy protection less than nine months after it was acquired by private-equity firm Transport Acquisitions. FreightWaves. Axle aims to empower trucking companies using big data. 4 min. While digital highways are connecting more and more of the global supply chain — including linking every tractor-trailer in the U.S. to the internet — the founders of Axle said most trucking companies and logistics operators are still missing out on a wealth of data.Jul 25, 2023 · 3 min. Yellow appears to be halting pickups in some areas of the Northeast, as well as Ohio, California and Texas, according to account executives who spoke to FreightWaves anonymously and company communication shared with FreightWaves. Nationwide, Yellow said in a memo sent to employees and shared to FreightWaves on Tuesday it was “limiting ... Judge orders Ray to forfeit more than $42 million and assets that include a 1968 Chevy Camaro. Clarissa Hawes. · Wednesday, November 29, 2023. Former trucking company owner Franklin Ray, 52, of Canton, Michigan, was sentenced to more than 17 years in federal prison for his role in a $40 million Ponzi scheme. (Photo credit: Jim Allen/FreightWaves)Jun 15, 2023 · A Yellow truck leaving a terminal in Houston, Texas. (Jim Allen/FreightWaves) Abdul Jaludi knows his job as a driver at Yellow Corp., one of the largest trucking fleets in the United States, is better than most trucking gigs. He’s home most nights, gets paid vacation and sick leave, and “doesn’t pay a penny” for his medical benefits. 5 min. The seemingly perpetual marketwide truck driver shortage is not real, nor is it marketwide. While specific fleets can and do have driver shortages — i.e., unseated trucks — the trucking market quickly corrects. There also are periods of capacity shortages, but those get addressed very quickly by the market.Clarissa has covered all aspects of the trucking industry for 14 years. She is an award-winning journalist known for her investigative and business reporting. Before joining FreightWaves, she wrote for Land Line Magazine and Trucks.com. If you have a news tip or story idea, send her an email to [email protected].

FreightWaves spoke to Dow and two other longtime truckers to learn why 2022 has been the year that killed their businesses — and what they think it means for the industry. Why the ‘Great Purge’ is hurting small truckers more than big ones. The three truck drivers all operated in different parts of North America and in different industries.WebBreaking news breaking trucking — Back The Truck Up’s Rooster reports, “That means AB5, the controversial law forcing employers to treat independent contractors as hired employees if they serve the same primary function, is now active.”What’s especially problematic for trucking is the B prong of AB5’s ABCs. According to Kingston, “The B …Nov 27, 2023 · FreightWaves provides award-winning trucking news coverage. Subscribe to your leading source of news for free! Instagram:https://instagram. get funded to tradechatgpt tickervanguard s and p 500 fundhow to get instant debit card Truckload spot rates tank fast thanks to fuel costs. The truckload spot market has fallen apart over the past two months. Larger fleets are in far better shape for weathering the storm. Read More ». Zach Strickland, FW Market Expert & Market Analyst Saturday, May 14, 2022.Web dividend aristocrats yieldfutures funding prop firms Buying a used truck can be a great way to save money and still get the vehicle you need. But if you’re looking for a used truck for sale by owner, it can be a bit of a challenge to find the perfect one. Here are some tips to help you find t... lincoln financial group stock Jul 28, 2023 · Yellow, a 99-year-old company headquartered in Nashville, Tennessee, employs some 30,000 workers. About 22,000 of them are represented by the Teamsters union.Teamsters and Yellow have been locked in a monthslong strife over changing key work rules at the trucking fleet. The freight cycle. The freight cycle is a market cycle that describes the boom to bust cycle of the trucking freight market. A typical freight cycle lasts for three to four years and is more cyclical than a broader economic cycle. In the early part of the cycle, the freight market is balanced.