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The post FreightWaves Infographics: Canada’s Pride Group files for bankruptcy protection, faces $100M lawsuit appeared first on FreightWaves.
The post FreightWaves Infographics: Canada’s Pride Group files for bankruptcy protection, faces $100M lawsuit appeared first on FreightWaves.
Norfolk Southern’s management has taken a second hit this week from an independent proxy advisory firm as the Class 1 railroad fends off activist investor Ancora Holdings, but the latest report, while mostly critical of NS, recommends that CEO Alan Shaw keep his job. Whereas proxy adviser Glass Lewis recommended that shareholders not vote in…
COVID steered shipping markets in 2000-2022. Geopolitics has steered markets ever since — and future war effects on ocean trade could be even more extreme than they are today. Russia’s invasion of Ukraine rerouted crude oil, refined products, LNG, coal and grain trades. The Israel-Hamas war spawned attacks by Houthi rebels on vessels in the…
Transportation and logistics provider R&R Express announced Monday the acquisition of truckload carrier Taylor Transportation. Taylor primarily provides dedicated transportation services for the tire and auto industries out of two locations in North Carolina and Tennessee. The deal includes the acquisition of Taylor’s 85 tractors and more than 200 trailers. The company has 104 employees,…
The earnings of Expeditors International were a perfect summation of the state of international freight in the second quarter: Whether it was on the water or in the air, the numbers were less than a year ago — by a large margin. And while Expeditors does not disclose enough granular tonnage data to make a…
Welcome to the inaugural edition of Fraud Watch, FreightWaves’ dedicated newsletter tackling the burgeoning crisis of freight fraud. What was once a sporadic issue has evolved into a multibillion-dollar challenge, drawing comparisons to fraud in the credit card industry and highlighting how that sector forged a unified front to combat it. By exploiting gaps in…
Ameritrans Express LLC, a contract delivery service for the U.S. Postal Service, has filed for Chapter 11 bankruptcy amid claims by some of its contractors that they have not been paid since March. Ameritrans Express LLC, headquartered in Dumfries, Virginia, filed its petition in the U.S. Bankruptcy Court for the Eastern District of Virginia on…