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A Minnesota man has pleaded guilty in federal court to embezzling more than $1.3 million from his employer, I-State Truck Centers, in a multiyear scheme. Leon Arthur Keener, 55, of Hugo, pleaded guilty last Wednesday in the U.S. District Court for the District of Minnesota to mail fraud after he used his position as manager…
A.P. Moller-Maersk has announced it will begin using a freight railroad to bypass the drought-stricken Panama Canal, as low water levels have forced authorities to limit the number of large ships passing through. The shipping container giant said Wednesday its Oceania-Americas (OC1) service, which normally uses cargo ships to transit the canal, will instead utilize…
Cargo flow slipped slightly at ports in Houston and New Orleans in March but rose at the Port of Corpus Christi due to increased exports. Port Houston sees decline in monthly containers Port Houston’s total container volume dipped 3% year over year (y/y) in March to 300,589 twenty-foot equivalent units compared to the same month…
Daimler Truck gathered analysts in Boston this week for a series of business updates often punctuated by the words “in sunny conditions.” The description was less of a hedge on performance than a description of where the global market-leading OEM sees its business heading. CFO Jochen Goetz explained how the terminology came about. “The analogy…
Financial services analysts at Piper Sandler think Triumph Financial has a strong future over the next two years, but they aren’t too hot on the stock right now. In a report that could be read as more of an endorsement of the strategy of the trucking-focused bank, analysts Frank Schiraldi and Justin Crowley on Monday…
Robin Hutcheson. Credit: FMCSA Robin Hutcheson is resigning from her post as head of the Federal Motor Carrier Safety Administration, a U.S. Department of Transportation source confirmed to FreightWaves. Her last day at the agency will be Jan. 26. No reason was given as to why she is leaving. Sue Lawless, FMCSA’s assistant administrator, is…