WASHINGTON — Federal regulators are not convinced that the potential for lost wages for prospective truck drivers outweighs the safety benefits of current rules on how states must administer CDL skills tests. In a notice scheduled to be published in the Federal Register on Thursday, the Federal Motor Carrier Safety Administration denied a petition by…
The Port of Los Angeles recently opened a waterfront promenade on its property, giving the nearby community unprecedented access to the water and sweeping views of the port’s activities. The $77 million Wilmington Waterfront Promenade is the second phase of connecting the Wilmington community, located adjacent to the port, to the waterfront. The 9-acre promenade…
Logistics warehouse operator Prologis slightly lowered its 2024 guidance on Wednesday as it expects leasing activity to “stay competitive” in some markets. It’s calling for occupancy and net operating income to step lower. Prologis (NYSE: PLD) reported core funds from operations (FFO) of $1.28 in the first quarter of 2024, which was in line with…
Knight-Swift Transportation cut earnings expectations by 58% for the first half of the year on Wednesday, citing an oversupplied truck market, poor weather in January and a tough start to bid season. The company said adjusted earnings per share for the first quarter will range between 11 and 12 cents compared to a 39-cent outlook…
A family-owned trucking company and brokerage — California Intermodal Associates Inc. (CIA), headquartered in Commerce, California — is ceasing operations after nearly 25 years, citing the state’s independent contractor law. CEO Gabriel Chaul said he recently notified customers that he is winding down operations. “I blame AB5 for the main reasons our company is closing,”…