Shares of Forward Air plunged 30% in pre-market trading Thursday following a rough first-quarter report that was issued five hours after Wednesday’s market close. Forward (NASDAQ: FWRD) reported a headline net loss of $88.8 million, or $2.35 per share. Excluding one-off costs from the acquisition and integration of Omni Logistics as well as severance expenses…
Unspecified problems with two used aircraft that recently were converted by Boeing to carry cargo have forced Alaska Airlines to open a new freighter service to Los Angeles with smaller Boeing 737-700s from its existing fleet. The service is designed to streamline Alaska’s supply chain since many of the groceries, household goods and medicine shipped…
A man and woman have been indicted by a federal grand jury and charged with the murder of Cornelius Garrison, a conspirator in the Louisiana staged accident scam who was gunned down in his home days after he was indicted for his participation in what prosecutors have dubbed “Operation Sideswipe.” Garrison was killed in his…
GXO Logistics came out with first-quarter revenue and earnings in line with Wall Street estimates, delivering a solid start to the year amid a “sluggish environment,” CEO Malcolm Wilson said. “Companies are starting to restock; we can see that from the dialogue we have with our customers,” Wilson said during a call with analysts Wednesday…
A new Georgia law means insurers are now mostly protected from lawsuits being filed directly against them after crashes involving trucks. Supporters see the measure as a response to financially crippling nuclear verdicts. Gov. Brian Kemp recently signed the bill, which passed 172-0 in the state House of Representatives and 46-2 in the Senate. Insurers…