The fifth-largest trucking carrier in the country, Yellow (NYSE: YELL) is teetering on the edge of bankruptcy as a dispute between management and the International Brotherhood of Teamsters, the union representing the truck drivers, threatens to massively disrupt operations next week. There’s reason to believe that Yellow’s board’s decision not to make a $50 million…
Mediterranean Shipping Co., the largest ocean container line in the world, has received a second aircraft from Boeing for its startup cargo airline. The new 777-200 freighter will be operated by Atlas Air under a long-term transportation service agreement that calls for providing four 777 aircraft, crews, maintenance and insurance. The new cargo jet will…
Shippers that don’t have existing relationships with FedEx Corp. (NYSE: FDX) may find it difficult to arrange for FedEx to handle their shipments in the event the Teamsters union strikes UPS Inc. (NYSE: UPS) starting Aug. 1, a consultant said Wednesday. Adi Karamcheti, senior consultant for Shipware LLC and who spent nearly two decades in…
Pam Transportation Services reported late Wednesday a more than 60% year-over-year (y/y) reduction in operating income on revenue that was down just 13%. The Tontitown, Arkansas-based truckload carrier saw revenue in its TL unit drop 14% y/y to $146 million even though average trucks in service (up 9%), total loads (up 15%) and loaded miles…
Consumers are putting fewer items in their carts (Chart: Barchart.com Inc.) In the face of inflationary pressure the past two years, consumers have generally not cut back much on everyday purchases, and CPG companies have often said that elasticities have been muted, or at least no worse than history would suggest. But recent CPG results…