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Larry Stewart is a unionized truck driver — just like his father and grandfather before him. He knew, when he became a truck driver 36 years ago, that it wouldn’t be an easy way to make a living. “You sacrifice your life,” said Stewart, who lives in Edwardsville, Illinois, some 30 miles outside St. Louis….
The losing streak continues for the Port of Los Angeles. It relinquished its long-held title as America’s busiest container gateway last year, surpassed by the Port of New York and New Jersey. It has now fallen to No. 3, eclipsed, at least temporarily, by neighboring Long Beach. Los Angeles had expected its numbers to be…
Startup electric truck infrastructure developer WattEV won’t say how much money it has raised from investors. But its stunning accumulation of grant money is a bigger story. “It’s one of the things that definitely sets us apart,” co-founder and CEO Salim Youssefzadeh told me about his private company’s grant hoard. WattEV took in the largest…
Union Pacific sees numerous macroeconomic headwinds in 2023. A recession is not among them, officials said during the railroad’s first-quarter 2023 earnings call. “We do not have planned in [our guidance] a recession. A recession would be a problem for us,” UP President and CEO Lance Fritz said during the Thursday call. If the industrial…
Much of the data in Triumph Financial’s first-quarter earnings report is no surprise, reflecting a softer freight market that resulted in a decline in factoring volume and invoice size. But the earnings of the trucking-focused bank and factoring company are more notable for what they say about the performance of Triumph’s (NASDAQ: TBK) payments network,…
Management from Schneider National lowered its outlook for 2023 when it reported first-quarter results on Thursday. The quarter came in better than expected but the truckload carrier said a more material freight recovery won’t likely occur until later in the year. Schneider (NYSE: SNDR) reported first-quarter adjusted earnings per share of 55 cents, 10 cents…