Mexico-based transporter Traxion has acquired Las Vegas-based BBA Logistics for $10 million. Traxion officials said the acquisition is part of a plan to offer door-to-door cargo brokerage services in the U.S. as freight volumes from Mexico to the United States continue to rise because of nearshoring of manufacturing plants to the country. “With this acquisition,…
Teamsters union General President Sean M. O’ Brien told UPS that the union wants a tentative contract agreement within the next week that its leadership can support or that it will demand that the company present its last, best and final contract offer. The escalating rhetoric, included in a Tuesday statement, comes as UPS (NYSE:…
Less-than-truckload carrier Yellow Corp. announced Tuesday that it has filed a $137 million breach of contract lawsuit against the International Brotherhood of Teamsters for blocking proposed changes to modernize how the carrier operates. Yellow (NASDAQ: YELL) said the union doesn’t have the authority to stop a proposed change of operations, which the company views as…
Trade between Mexico and the United States is on the rise. This growing partnership between neighboring countries offers the cost savings U.S. companies need, as well as faster delivery times for consumers and economic growth opportunities for Mexico. Earlier this year, Mexico surpassed Canada as the United States’ top trading partner. In that same time…
Ailing commercial electric pickup truck maker Lordstown Motors on Tuesday filed for Chapter 11 bankruptcy protection, put itself up for sale and sued former partner Foxconn, alleging fraud and failure to live up to its financial commitments. Lordstown had been struggling in the past couple of years. It was able to hold on financially for…