Open-deck transportation marketplace EXO Freight closed its Chattanooga, Tennessee, office Tuesday, laying off 19 employees, including a few from its spot brokerage team in Royal Oak, Michigan, who were mainly operations-focused, co-founder and CEO Kurtis Tryber told FreightWaves. Tryber said it was an intentional move by the company to pivot from covering unprofitable spot market…
Ryder’s quarterly earnings showed signs of the weak truck market, but its emphasis on other segments of the company besides its flagship fleet rental activities continued to bear fruit. The bottom line is that Ryder’s non-GAAP earnings per share of $2.14 exceeded consensus expectations by 43 cents, according to SeekingAlpha. Its revenue of $3.1 billion…
WASHINGTON — New trucking industry-backed research finds renewable diesel (RD) fuel to be significantly less costly and more operationally effective than transitioning to battery-powered trucks. Electric vehicle purchases and electric infrastructure will cost the long-haul sector more than $1 trillion over 15 years, a study released Tuesday by the American Transportation Research Institue (ATRI) estimates….
Forward Air has named former Ceva Logistics unit head Shawn Stewart as its new CEO effective this coming Sunday. The announcement follows the ouster of former leader Thomas Schmitt, which orchestrated a controversial merger with Omni Logistics that finally closed in January after months of litigation. Stewart brings nearly 30 years of leadership experience in…
Universal Transit, a groundbreaking company founded by three innovative friends in New Jersey in 2020, is on a mission to revolutionize the auto transportation sector. With aspirations to raise $1.2 million through regulation crowdfunding (Reg CF) on Republic, this startup is not merely aiming to alter the landscape of car shipping; it’s actively leading the…