Yellow’s Tuesday filing in a Delaware bankruptcy court said claims stemming from its failure to provide 60-day notices to employees ahead of mass layoffs should be thrown out, or at least materially reduced. Counsel for the company said WARN Act requirements don’t apply as the defunct less-than-truckload carrier’s shutdown was abrupt and the result of…
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On Feb. 29, the chairman of the House Committee on Homeland Security, Rep. Mark Green, R-Tenn., sent a strongly worded letter to an obscure Chinese equipment manufacturer: Shanghai Zhenhua Heavy Industries Co. (known as “ZPMC”). ZPMC is the world’s top producer of ship-to-shore gantry cranes used at container terminals the world over — nearly 80%…
WASHINGTON — The Biden administration has selected 12,000 miles of freight-heavy interstates and the country’s largest container ports to begin a 16-year plan to deploy battery-charging and hydrogen-refueling stations for electric trucks. The four-phase National Zero-Emission Freight Corridor Strategy, unveiled Tuesday, initially targets local and regional “return-to-base” trucking operations, first- and last-mile delivery, and port…
The two key ratings agencies have weighed in with a cautionary outlook on the offer by GXO to acquire U.K.-based contract logistics company Wincanton. Neither Moody’s nor S&P Global Ratings reduced its credit rating on GXO (NYSE: GXO). At Moody’s, the Ba1 corporate rating is one notch below investment-grade. The S&P Global (NYSE: SPGI) rating…