10 Jan New Postal Service Business Model Creates Opportunity for Growth, Consolidation Among Private Mail Haulers A new distribution strategy by the U.S. Postal Service is forcing fundamental changes in the way private mail contractors operate and is leading to a surge in consolidation activity. Read more...
10 Jan Even in Shutdown, Pelosi and House Democrats’ Legislative Priorities Include Infrastructure High on the list of priorities for the new Speaker of the U.S. House of Representatives is funding for infrastructure projects, something transportation officials and freight executives around the country agree is badly needed for reducing congestion and to boost regional economies. Read more...
10 Jan Skills Testing Delays Cost US Economy $1.5 Billion, CVTA Study Says Commercial driver skills testing delays are responsible for $1.5 billion in annual economic losses for the U.S. economy and more than 6.4 million days of delays for new drivers, according to new research commissioned by the Commercial Vehicle Training Association. Read more...
09 Jan Shareholders Offered Option of Buying More Stock as Roadrunner Seeks to Recapitalize Its Business Shareholders of Roadrunner Transportation Systems, who have seen the value of their holdings plummet following a finance scandal that led to the dismissal of several top executives more than a year ago, are being given a chance to buy more stock — 900 million shares to be exact — at 50 cents a share as part of an effort by new management to recapitalize the business. Read more...
09 Jan J.B. Hunt Moves Aggressively Into Final-Mile Sector With Purchase In an effort to strengthen its position in the growing final-mile trucking sector, J.B. Hunt on Jan. 8 announced it is purchasing Cory 1st Choice Home Delivery for $100 million. Read more...
09 Jan CIT Northbridge Arranges $53.8 Million in Credit for Circle 8 Crane Services CIT Group Inc., the financial holding company of CIT Bank, has announced that its financing unit served as the sole lead arranger on a $53.8 million senior secured credit facility for Circle 8 Crane Services, a full-service crane rental company serving the Southwest. Read more...
09 Jan US-China Trade Talks End on Note of Cautious Optimism The Trump administration wrapped up the latest round of trade talks in Beijing, noting a commitment by China to buy more U.S. agricultural goods, energy and manufactured items. Read more...
09 Jan Teamsters Exchange Contract Proposals with YRC, Holland and New Penn After working for eight years under a series of contract extensions, less-than-truckload carrier YRC Freight and its two regional operations have opened contract negotiations with the International Brotherhood of Teamsters. Read more...
09 Jan Crowley Launches Second LNG Cargo Vessel Taino’s arrival gives Jacksonville a fourth cargo ship powered by natural gas for Puerto Rico shipments, putting the port at the vanguard in using a fuel source that only recently became tried and tested in cargo ships. Jacksonville-based Crowley Maritime owns two of the ships. Read more...
09 Jan TransForce Acquires Drive360 Logistics TransForce Inc., a Virginia-based recruiting and employment solutions provider specializing in quality commercial truck drivers, has acquired Drive360 Logistics. Read more...