Legislation and regulation affecting trucking is downshifting as the election year moves into full swing, but the most prominent lobby representing truck owner-operators is keeping the pressure on lawmakers and the administration to do right by its members. “The unfortunate reality is that this particular Congress is totally engaged in election season, and rather than…
The U.S. Postal Service plans to shift daily air cargo volumes to UPS before the contract with FedEx expires in September to ensure no service interruption for customers heading into the busy holiday shipping season, the agency and company officials said Tuesday. UPS’ (NYSE: UPS) ability to leverage its integrated air-and-ground network and bypass its…
Tesla CEO Elon Musk said the company will accelerate the launch of less expensive EV models after its profits and revenue under performed for the third consecutive quarter. “The EV adoption rate globally is under pressure, and a lot of other auto manufacturers are pulling back on EVs and pursuing plug-in hybrids instead,” Musk said…
Heartland Express said a prolonged period of soft freight demand, excess truck capacity and cost inflation were the reasons for a $15.1 million net loss in the 2024 first quarter. On Tuesday, the North Liberty, Iowa-based truckload carrier reported a 19-cent-per-share loss for the period, 7 cents worse than the consensus estimate and 35 cents…
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…