‘Tremendous Outcome’: Yellow Gets Court Nod to Sell 130 Assets
The bankrupt behemoth still hopes to secure buyers for the 46 owned and 147 leased terminals remaining in its possession.
View ArticleCoyote Logistics Cuts Staff Via ‘Voluntary Separation’ Program
“A relatively small” number of staff were given the option to leave the UPS-owned 3PL two weeks after TuSimple axed 150 U.S. employees.
View ArticleForward Air Divests Last-Mile Business to Hub Group for $262 Million
Already looking to get out of its $3.2 merger with Omni Logistics, Forward hopes the sale can help it shift more focus to its LTL business.
View ArticleTrucking Titan TFI Makes $1.1 Billion Deal as Yellow Offloads More Terminals
TForce Freight parent TFI International will pony up $386 million in cash as part of the deal for heavy-haul trucking firm Daseke.
View ArticleForward Air, Omni Logistics See ‘Writing on the Wall,’ Amend Merger
Both logistics companies have agreed to settle their litigation against one another, targeting to complete their merger by Friday.
View ArticleTuSimple to Voluntarily Delist from Nasdaq After ‘Exhaustive’ Review
The independent board committee making the decision said “the benefits of remaining a publicly traded company no longer justify the costs.”
View ArticleYellow Disputes Pension Fund’s $6 Billion Claims, Citing Federal Bailout
"This is 'free money' that the Central States Pension Fund does not need," Yellow attorneys wrote in a December court filing.
View Article3PLs Penske Logistics, Kenco Lay Off Combined 300
Despite the layoffs, transportation and warehousing add 15,500 jobs in January, says a new jobs report from the Bureau of Labor Statistics.
View ArticleCargo Theft Has Nearly Doubled Since 2019
Cargo theft accelerated at a rapid pace in 2023, and the logistics industry should expect more of the same in 2024 if proper prevention methods aren't put in place.
View ArticleYellow Corp. Pays Back $850M CARES Act Loan
The less-than-truckload shipper paid back a controversial Covid-era government loan six months after filing for bankruptcy.
View ArticleForward Air CEO Out Following Messy Merger
Weeks after the firm agreed to the acquisition of Omni Logistics, Forward Air is on the hunt for a new chief executive.
View ArticleUK-Based Yodel Saved from Bankruptcy Via Delivery Merger
"Big and bulky" delivery company Shift and Solano Partners teamed to buy parcel delivery firm Yodel in another M&A deal in logistics.
View ArticleLogistics M&As Span Last Mile, Freight Forwarding and Trucking
Radiant Logistics, ADL Final Mile and PS Logistics have all made new deals, while GXO sees a "very sizable" M&A pipeline on the horizon.
View ArticleFlexport Brings Convoy Trucking Marketplace Back to Life
“The experience for a [trucking] owner-operator is very different today than it was 10 years ago,” said Flexport trucking EVP Bill Driegert.
View ArticleWalmart Exits Intermodal Transportation With J.B. Hunt Deal
While Walmart launched its intermodal service six years ago, it appears the retailer saw difficulties in managing container transportation.
View ArticleIkea Wants Court to Solve $500,000 Dispute for Carriers Unpaid by Convoy
In a lawsuit, Ikea says freight carriers have sought payment from the home retailer after Convoy's collapse.
View ArticleWalmart Rolls Out AI-Driven Route Optimization Software to Third Parties
Route Optimization considers traffic conditions, vehicle capacities and customer locations to generate automated routes for deliveries.
View ArticleFlock Layoffs Emphasize Freight Tech’s Needed Pivot to Profitability
Meanwhile, CMA CGM said it will commit to no job cuts for a full year after the recent $5.3 billion acquisition of Bolloré Logistics.
View ArticleJudge Dismisses Yellow’s Breach of Contract Lawsuit Against the Teamsters
A federal judge said the less-than-truckload (LTL) company failed to exhaust grievance procedures under the terms of the union contract.
View ArticleTeamsters End Union Representation of LA Trucking Firm
John Cwiek of Dependable Highway Express filed a union decertification petition in March after a brush-up with local union officials.
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