Miami-based startup Global Crossing Airlines will temporarily cap growth in its new freighter fleet so it can focus limited resources on the more lucrative passenger charter business, a process that began Monday with the removal of founder Edward Wegel as CEO and chairman. Global Crossing (GlobalX) began freighter operations last summer and now has three…
ArcBest saw continued volume pressure in the fourth quarter as it transitions its less-than-truckload business away from transactional shipments to loads from its core customers following Yellow’s shutdown. The mix change has been a headwind to revenue but supportive of margins. ArcBest (NASDAQ: ARCB) reported adjusted earnings per share of $2.47 on Tuesday ahead of…
Transportation prices flipped to expansion for the first time in 19 months as retailers increase inventories, a Tuesday supply chain report said. The Logistics Managers’ Index (LMI) was up 5 percentage points to 55.6 in January with all eight components of the index signaling growth. The LMI is a diffusion index in which a reading…
More than 1,300 workers and former employees at a Goodyear Tire & Rubber factory in Mexico will receive $4.2 million in back pay as part of a labor rights mediation plan, U.S. authorities said. The mediation announced by the Department of Labor on Monday was the result of an investigation under the U.S.-Mexico-Canada-Agreement’s (USMCA) rapid…
Transportation fintech provider OTR Solutions announced Tuesday it has acquired back-office automation solution Epay Manager. The terms were not disclosed. The acquisition signifies a strategic decision propelled by Epay Manager’s audit-proof invoicing system, a feature that OTR highlights as setting it apart from other carrier payment management tools. By integrating Epay Manager’s capabilities into its…