Ernest Hemingway wrote, “How do you go bankrupt? Two ways. Gradually, then suddenly.” This path is inherent in the rags-riches-rags cycles seen in personal finance arcs to economic bubbles in freight markets. To combat current and future uncertainty in the world, we very much like to keep the status quo, so it takes a while…
The U.S. Department of Labor announced a final rule on Tuesday that will revise regulations issued under the Fair Labor Standards Act to ensure overtime pay for some salaried and highly compensated employees. Critics say the rule could prove a significant burden for brokers operating small businesses. Starting July 1, 2024, salaried employees making less…
Pam Transportation, the auto industry-focused truckload carrier whose stock has been battered in the past year and beyond, is buying back some of its shares through a process known as a Dutch auction. Companies buy back their stock frequently but generally do so in a lower-key manner, entering the market as an occasional or frequent…
Container cargo flows increased at ports in Houston, New Orleans and Mobile, Alabama, in March, but shipments of crude oil fell slightly at the Port of Corpus Christi, Texas. Port Houston container shipments up 20% in March Port Houston handled 360,991 twenty-foot equivalent units in March, a 20% year-over-year (y/y) increase. Officials said total cargo…
Stefan Trifan, president of APL Cargo, sat down with Taking the Hire Road host Jeremy Reymer to share his story of immigrating to the U.S. from Moldova and fulfilling the American dream. With no experience in the industry, Trifan acquired his CDL and started a trucking company. With just one truck, Trifan grew APL Cargo…