Freightwaves trucking news.

Jan 26, 2023 · At the end of 2020, only 12.5% of drivers who had tested positive had been cleared to drive again. In 2021 that number increased to 22.7%, and it increased again in 2022 to 27.6%. Garney also noted that starting on Jan. 6 — after three full years of clearinghouse operation — motor carriers were no longer required to query a driver’s ... Aug 27, 2023 · (Photo: Jim Allen/FreightWaves) Borderlands is a weekly rundown of developments in the world of United States-Mexico cross-border trucking and trade. This week: Mexico’s truckers plan nationwide strike, blockades; $142B announced for Texas transportation infrastructure; Fresh Del Monte Produce moving to Port Freeport; and border airport adds ... Clarissa has covered all aspects of the trucking industry for 14 years. She is an award-winning journalist known for her investigative and business reporting. Before joining FreightWaves, she wrote for Land Line Magazine and Trucks.com. If you have a news tip or story idea, send her an email to [email protected].Nov 7, 2023 · OEM Trucking. In terms of the trucking industry, original equipment manufacturer (OEM) refers to parts made by the same company that makes the vehicle (as opposed to aftermarket parts, which are produced by different companies and designed to be compatible with as many vehicles as possible). While OEM products may cost more than aftermarket ...

18 min. Yellow, the third-largest trucking company in the less-than-truckload sector, filed for bankruptcy on Aug. 7. Now its former competitors are in a bidding war for its terminals and trucks. The company’s collapse put some 30,000 employees out of work, including 22,000 Teamsters members. That’s an uncomfortable reality for those ...Nov 22, 2023 · There’s some discrepancy on what a truck driver typically earns. According to Bureau of Labor Statistics data, heavy and tractor-trailer truck drivers earned a median annual salary of $49,920 in 2022. Data from the ATA found that average pay for truckload drivers was about $70,000, before benefits, in 2021. Used truck prices reversed year-over-year gains in November for the first time since 2020, suggesting a normalized environment is returning after a year of unprecedented high prices. “Following the once-in-a-lifetime pricing boom in 2021, the used-truck market in 2022 started coming back down to Earth as the freight environment …

She’s especially interested in trucking news. Before joining FreightWaves in 2022, Rachel was a senior features reporter at Business Insider. She created the trucking news beat at Business Insider, and has appeared on NPR Marketplace, ABC News, NBC Nightly News, The Today Show, France24, and other major outlets to discuss her coverage.Oct 18, 2023 · Although the market was filled with rumors of bankruptcy at Convoy Wednesday morning — not surprising when all loads are summarily canceled — there has been no bankruptcy filing by Convoy, according to a check of public records by FreightWaves. In April 2022, Convoy was valued at $3.8 billion after an investment of $260 million in a Series ...

Feb 18, 2023 · In August 2021, a Florida jury awarded a record $1 billion verdict in a case involving two trucking companies for the death of an 18-year-old named Connor Dzion. Dzion’s family was awarded $100 million for pain and suffering and $900 million in punitive damages for negligent hiring and retention against one of the trucking companies. Trucking Risk & Compliance. Commercial trucking is a risk-prone industry that requires strict compliance to safety regulations and comprehensive risk management strategies to protect both cargo and employees. Trucking and fleet management companies must consider risks such as driver safety and retention, vehicle breakdowns, adverse …Jun 15, 2023 · A Yellow truck leaving a terminal in Houston, Texas. (Jim Allen/FreightWaves) Abdul Jaludi knows his job as a driver at Yellow Corp., one of the largest trucking fleets in the United States, is better than most trucking gigs. He’s home most nights, gets paid vacation and sick leave, and “doesn’t pay a penny” for his medical benefits. When it comes to moving, U-Haul is one of the most popular and trusted names in the industry. With a wide selection of trucks, trailers, and other moving supplies, U-Haul has everything you need to make your move as easy and stress-free as ...In the 2008 freight recession, freight brokerages were a much smaller percentage of the overall trucking market, representing just 10% of the total freight in the market. This number has doubled since then, along with the quality of freight. When I was working the freight desk at U.S. Xpress in the early 2000s, freight brokerages weren’t a ...

Craig Fuller, CEO at FreightWaves Thursday, August 10, 2023. Truck drivers, construction workers and other manual workers are getting a huge pay raise. Get used to it. UPS’ CEO announced that drivers will be making $170,000 a year in pay and benefits by the end of a five-year employment contract.

4 min. Nikola Corp. is asking dealers and customers to return battery-electric trucks under recall for possible battery fires to its Coolidge, Arizona plant despite the company still working on a fix. “We’re bringing them back to Coolidge for repairs to be made instead of in the field,” spokesman Dan Passe told FreightWaves in an email ...

Trucking is a very difficult business to make money in . A lot of this depends on whether or not spot rates drop to levels that drain the cash flow of carriers to the point that they run out of money. ... FreightWaves’ news, content, market data, insights, analytics, innovative engagement and risk management tools are unprecedented and ...4 min. Nikola Corp. is asking dealers and customers to return battery-electric trucks under recall for possible battery fires to its Coolidge, Arizona plant despite the company still working on a fix. “We’re bringing them back to Coolidge for repairs to be made instead of in the field,” spokesman Dan Passe told FreightWaves in an email ...Photo: Jim Allen/FreightWaves. A federal judge has ordered a Mississippi trucking company and its owner, Xavier Bailey, to pay more than $482,000 after finding Bailey made false statements in order to obtain funds through the U.S. Small Business Administration’s Paycheck Protection Program (PPP). The forgivable-loan program was enacted to ...Trucking company to pay $7.7 million in case of wheel coming loose, striking vehicle. Digital freight platform Convoy announces 2nd round of layoffs since June. FreightWaves Mid Continent Trucking Trucking. Family-owned Mid Continent Trucking of Denison, Iowa, notified drivers and employees recently that after 24 years, the refrigerated carrier ...2 min. The U.S. District Court for the District of Kansas ruled Friday against less-than-truckload carrier Yellow Corp.’s request for an injunction, which would have kept its Teamsters employees from engaging in a work stoppage. In her decision, Senior Judge Julie Robinson denied a motion for a temporary restraining order and injunction.Web

New truck deliveries pushed used truck prices lower. New truck sales rose 18% to 29,172 compared with 24,716 a year earlier, swamping the 23,581 sold in August, which had been the peak for the year. They also were the highest since data collection began in 1998. Full-year sales rose 14.6% to 254,206 compared with 221,889 in 2021.Although the market was filled with rumors of bankruptcy at Convoy Wednesday morning — not surprising when all loads are summarily canceled — there has been no bankruptcy filing by Convoy, according to a check of public records by FreightWaves. In April 2022, Convoy was valued at $3.8 billion after an investment of $260 million in a Series ...The impact of deregulation on the trucking industry. Before deregulation, trucking rates were fixed and approved by the Interstate Commerce Commission (ICC). President Jimmy Carter deregulated the airline industry in 1978 and then the trucking and railroad industries, both in 1980. ... FreightWaves’ news, content, market data, insights ...WebEx-Celadon executives Eric Meek and Bobby Lee Peavler had been indicted on nine counts of fraud for an alleged accounting scheme. (Photo: Jim Allen/FreightWaves) The Securities and Exchange Commission has agreed to settle an accounting fraud case against two former Celadon Group Inc. executives accused of engaging in a scheme to hide millions ...4 min. WASHINGTON — A change in how the National Labor Relations Board determines whether a company is considered a “joint employer” with another company could disrupt relationships among carriers while imposing higher costs on the trucking sector. Under the new standard, issued by the NLRB on Thursday, a company may be considered a joint ...

Clarissa has covered all aspects of the trucking industry for 14 years. She is an award-winning journalist known for her investigative and business reporting. Before joining FreightWaves, she wrote for Land Line Magazine and Trucks.com. If you have a news tip or story idea, send her an email to [email protected].

3 min. Social media exploded over the weekend with reports of truck drivers planning to boycott moving freight into or out of Florida in response to the state’s new law regarding migrants. The state government recently passed a bill targeting undocumented immigrants by requiring employers to check that workers are authorized to work in the U.S.Trucking is a very difficult business to make money in . A lot of this depends on whether or not spot rates drop to levels that drain the cash flow of carriers to the point that they run out of money. ... FreightWaves’ news, content, market data, insights, analytics, innovative engagement and risk management tools are unprecedented and ...Speed limiters. A notice of intent issued this year by FMCSA to propose in 2023 electronic engine devices to set and limit truck speeds have truckers on high alert. The notice of FMCSA’s intent alone generated more than 15,000 responses, and at least that many is expected once the actual proposal is issued.CEO Martin Daum told FreightWaves last week that Waymo and Torc, which Daimler purchased in March 2019, were the best bets to lead in autonomous trucking. “We are well on our way to developing the redundant, autonomous-ready Freightliner Cascadia as a platform for various virtual driver systems,” a Daimler spokesperson told …Feb 18, 2023 · In August 2021, a Florida jury awarded a record $1 billion verdict in a case involving two trucking companies for the death of an 18-year-old named Connor Dzion. Dzion’s family was awarded $100 million for pain and suffering and $900 million in punitive damages for negligent hiring and retention against one of the trucking companies. Truckload spot rates tank fast thanks to fuel costs. The truckload spot market has fallen apart over the past two months. Larger fleets are in far better shape for weathering the storm. Read More ». Zach Strickland, FW Market Expert & Market Analyst Saturday, May 14, 2022.WebFreightWaves, with its headquarters in Chattanooga, Tennessee, is the nerve center of the global supply chain, bringing together world-class news, insights and …Oct 13, 2023 · Last-Mile Delivery. Final mile (also called “last mile”) is a term used to refer to the last leg of a delivery route (it is not a mode of transportation). Businesses can define last mile in different ways, depending on what is most relevant to their business and their customers’ expectations. Final mile delivery falls into two categories ...

Consulting firm FTR Transportation Intelligence expects rail intermodal to face a tough year in 2023 amid weaker demand, a competitive truck market and a shift in U.S. port activity away from the West Coast to East and Gulf ports that utilize shorter inland hauls. All of the rail intermodal segments — domestic and international — “are ...

3 min. Yellow appears to be halting pickups in some areas of the Northeast, as well as Ohio, California and Texas, according to account executives who spoke to FreightWaves anonymously and company communication shared with FreightWaves. Nationwide, Yellow said in a memo sent to employees and shared to FreightWaves on …Web

For example, trucker issues contributed to the driver shortage, as qualified drivers leave the industry because of low pay and difficult working conditions. Other truck driver challenges include issues related to health and wellness. Truckers must deal with a lack of exercise, poor diet, extended periods without bathroom breaks, eye strain ...WebA federal district court in California won’t hold a hearing for a new preliminary injunction blocking independent contractor law AB5 until May. That means that any hope the state’s trucking sector had that a new preliminary injunction stopping AB5 from enforcement in the state might be handed down by a federal judge is dashed for five more ...Expecting an increase in the volume of cross-border logistics across the U.S.-Mexico border, the Tecma Group of Companies recently acquired flatbed operator Omega Trucking. The acquisition of Santa Teresa, New Mexico-based Omega took effect Jan. 1. The Omega flatbed operations will be merged into Tecma’s Transportation Services …WebTruck parking and storage can be a challenge for truckers. Finding the right spot to park and store your truck can be difficult, especially if you’re on the road for long periods of time. Fortunately, there are a few tips that can help you ...Trucking industry undergoing ‘bust’ cycle in post-Covid economy, says FreightWaves’ Craig Fuller. Craig Fuller, Freightwaves founder and CEO, joins ‘The …Meadow Lark Agency and its affiliate, Meadow Lark Transport, filed for bankruptcy liquidation Monday, owing around 120 former employees almost $800,000 and nearly 1,300 trucking companies about $2.7 million. Read More ». Eric Kulisch Monday, November 6, 2023.WebClarissa has covered all aspects of the trucking industry for 14 years. She is an award-winning journalist known for her investigative and business reporting. Before joining FreightWaves, she wrote for Land Line Magazine and Trucks.com. If you have a news tip or story idea, send her an email to [email protected].Truck drivers at Yellow fear the end is coming soon. (Photo: Jim Allen/FreightWaves) From the Great Recession to 2020, Yellow nearly went bankrupt four times. In each episode, the trucking giant was saved — thanks to concessions from lenders, the Teamsters union, the federal government or often all three. As a result, …Web2 min. Yellow’s senior vice president of sales informed her staff on Wednesday that their last day would be Friday and the less-than-truckload carrier will file bankruptcy on Monday, according to three employees who attended the video call. Yellow ( NASDAQ: YELL) is the third-largest LTL company and employs some 30,000 workers, including ...FreightWaves supply chain news coverage is your leading source of global supply chain updates and information via freight data. Subscribe now for free ... Lowe’s has been changing the way it deploys trucks to deliver goods and has garnered a spot on FreightWaves’ annual list honoring shippers. Read More » Eric Kulisch ...

Photo: Jim Allen/FreightWaves. An online auction is slated for Tuesday to sell the assets of Minnesota-based Twin Express Inc., which had a reported 72 power units and 73 drivers, after the trucking company defaulted on a $19 million loan. The move comes nearly three months after Judge Jamie L. Anderson in Hennepin County District Court in ...Mar 20, 2023 · The National Truckload Index (linehaul only – NTIL) is based on an average of booked spot dry van loads from 250,000 lanes and 10,000 daily spot market transactions. The NTIL is a seven-day moving average of linehaul spot rates excluding fuel. Spot rates are currently 34% lower y/y. Mehrotra previously cut his first-quarter earnings-per-share ... 7 min. On July 7, Yellow ( NASDAQ: YELL) narrowly avoided bankruptcy for the fifth time since 2009. The potential for collapse is still looming, though. That’s scaring some customers off, according to three brokers and two industry experts interviewed by FreightWaves. Recent notes from investment banks like Bank of America and Stifel have ...WebInstagram:https://instagram. fubo sharerobinhood qqqbest restaurant cardpartial real estate investment Oct 13, 2023 · Last-Mile Delivery. Final mile (also called “last mile”) is a term used to refer to the last leg of a delivery route (it is not a mode of transportation). Businesses can define last mile in different ways, depending on what is most relevant to their business and their customers’ expectations. Final mile delivery falls into two categories ... Plus. Another private player, Plus focuses most of its U.S. efforts on autonomous features that fall short of a full Level 4 system. But the high-autonomy system runs in the background of PlusDrive-enabled trucks. Plus had a big presence in China, including a joint venture with the state-owned First Auto Works. tio newst bills ladder Oct 13, 2023 · Last-Mile Delivery. Final mile (also called “last mile”) is a term used to refer to the last leg of a delivery route (it is not a mode of transportation). Businesses can define last mile in different ways, depending on what is most relevant to their business and their customers’ expectations. Final mile delivery falls into two categories ... PGT Trucking is on a mission to go green. What solutions is it pioneering? TForce Worldwide visits us like the ghost of Christmases past and takes a look at a year of market volatility. Plus, this week’s good news and bad news concerning earthquake-proof beds, dumbass drivers, Lulu Lemon's over supply, and Christmas lights on trucks. broad ridge In 2019, ATRI released a study on recreational marijuana laws’ possible effects on the trucking industry. At the time, 11 states had legalized marijuana. Since then, that number has nearly doubled to 20, prompting the new study. The original study specifically looked at safety issues brought on by an increase in passenger vehicles …Quicklook: Best TMS freight broker software in 2024. Best for integration with existing software: Rose Rocket TMS. Best for small- to medium-sized businesses: Truckbase. …Citizens Bank of Sac City, Iowa, has failed, and it appears that its exposure to commercial trucking is the cause. Citizens Bank was a small state-chartered bank. Its loan portfolio was focused on “commercial and industrial loans,” according to Bank Reg Blog. The blog reported on Nov. 3 that the Federal Deposit Insurance Corporation (FDIC ...