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The post Daily Infographic: Dude! Where’s my trailer? Outrider can find it appeared first on FreightWaves.
The post Daily Infographic: Dude! Where’s my trailer? Outrider can find it appeared first on FreightWaves.
Forward Air’s shareholders have approved the conversion of nonvoting preferred shares that were granted to Omni Logistics’ stakeholders as part of a merger between the two companies. That shareholder group, which mainly consists of Omni’s private equity backers, will now hold roughly 14 million shares, or 35% of the voting common equity. A Tuesday filing…
Railroads, shippers and unions are tracking hot topics ranging from service improvement to government oversight to safety regulations in 2024. Here is an overview. Reciprocal switching, common carrier obligation The Surface Transportation Board is continuing work on rail service issues, including finalizing a rulemaking on reciprocal switching in the first half of the year, if…
Texas-based U.S. Logistics Solutions has filed for bankruptcy liquidation, stating that its lender pulled the plug on its funding, which forced the company to shutter operations Thursday and left a disputed number of truck drivers, dock and warehouse workers, and sales and office personnel without jobs. In a statement to FreightWaves Tuesday, a spokesperson for…
Marten Transport had a first quarter in which it drove more miles than in the first quarter of 2022, but in its truckload segment in particular recorded a significantly worse performance. That was not surprising in a quarter during which truckload rates as measured by the National Transportation Index for linehaul only (NTIL) in SONAR…
Autonomous trucking software developer TuSimple is cutting 300 more U.S. jobs — 30% of its global workforce. But it will keep its China operations, reversing a plan to sell or spin them off. The moves announced Thursday mean the company now will have just 750 employees. That’s about half its size before a restructuring in…
The weak trucking market finally has caught up to the quarterly report of Canada’s BMO, a major lender to fleets. In its quarterly earnings report, BMO (TSX: BMO.TO) breaks out the financial performance of its various lending sectors. Transportation is its own sector, and BMO officials have said about 90% of that book of business…