STB chair blasts Class I railroads for head count reductions

CHICAGO — The Class I railroads must increase their head count levels because doing so not only will bolster rail service but benefit the U.S. economy overall, Surface Transportation Board Chair Marty Oberman said to a crowd of rail shippers and rail employees at a trade conference Thursday. “Why all the continuing focus by the…

Retailers’ commentary becoming ever more downbeat as Americans run out of money

Some of the biggest retailers in the U.S. announced unusually weak first-quarter results, with signs of increasingly cash-strapped consumers abundant.  Among the themes discussed on Q1 calls were the shift from discretionary items to lower-margin essential ones (food and beverage), elevated “shrink” (theft) and a resumption of price competition following unusually substantial price increases during…

Project44 cuts workforce, warns of changing FreightTech investor sentiment

Global supply chain visibility provider project44 has confirmed the company went through an organizational restructuring, eliminating approximately 130 jobs, about 10% of its total global workforce. Leadership at project44 told FreightWaves Thursday night that the restructuring move comes as the industry and economy face various headwinds, vastly challenging FreightTech startups with venture capital backing to…