Angela Chao, the CEO of New York-based shipping company Foremost Group, has died in a car accident at the age of 50, according to a news release. “It is with deep sadness that Foremost Group announces the passing of Angela Chao in a tragic car accident. Angela Chao was a formidable executive and shipping industry…
Why do international supply chains suddenly feel like a reboot of “It’s a Mad, Mad, Mad, Mad World” or a blood sport version of “The Amazing Race”? For those who haven’t witnessed the former, it was a 1963 gargoyle of a movie. I say “witnessed” because you don’t exactly “watch” “It’s a Mad, Mad, Mad,…
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Last week, Maersk management announced that the company was suspending its share buyback program and cutting its dividend by 88%, signaling the end of an era when managing and deploying an enormous excess of capital was the top concern for the shipping line’s executive team. Maersk’s stock price dropped by approximately 16%. Now that the…
Korean Air is one step away from absorbing rival Asiana Airlines after the rivals agreed on Tuesday to European Commission merger conditions that Asiana divest its freighter business. The last hurdle is the U.S. government, which reportedly objects to the deal because of concern the combined airline would dominate routes to the United States where…