Missouri-based trucking company Rapid Response has been sold to its employees under an employee stock ownership plan (ESOP). Investment banking firm ButcherJoseph & Co., which advised Rapid Response on the transaction, announced the closing Friday. The 40-year-old asset-based carrier specializes in full truckload and less-than-truckload transportation as well as home delivery of appliances and furniture….
The idea of doing anything in an autonomous truck other than looking out the windshield or at a computer screen covered with boxes representing surrounding traffic was pretty much out of the question until a recent demo ride in a high-autonomy Class 8 truck from Kodiak Robotics. The screen displays what the Kodiak Driver fusion…
The job losses suffered by the truck transportation sector in February have almost no precedent in the last 10 years, except for the massive drop in April 2020 and a similar drop almost 10 years ago. Bureau of Labor Statistics data reported Friday showed the truck transportation sector saw a decline of 8,500 jobs in…
A decline in flight hours for all-cargo airlines is another data point to gauge the sagging airfreight market that is typically measured in volume by tonnage or weight by distance carried. Freighter aircraft utilization fell an estimated 8.1% in January, the second steepest decline in three years after a 9% drop in December, according to…
Norfolk Southern has alerted the broader rail industry of a potential issue involving a specific model and series of rail cars, and that alert has led to a call to remove those rail cars from service until the wheel sets in question can be replaced. NS (NYSE: NSC) said late Thursday that the specific model…