Plus, a $350K beef fraud sheme, trucker faced 17 deportations prior to deadly crash, Transfix debuts new tech, and more.
True “produce season” in the continental United States lasts from about April to October, with Sun Belt markets dominating April through June and Midwestern markets dominating July through October.
In the latest episode of "The FreightCaviar Podcast", we sit down with Michael Caney, Chief Commercial Officer at Highway. He shares tips on protecting your business against fraud and talks about Highway's newest product.
Plus: Our AMA Above the Clouds with Matt Silver, the most recent Q4 earnings, and an exciting podcast episode with freight brokerage Co-Founders.
Plus: GA trucking company files for bankruptcy, Canada has record-breaking meth seizure and more.
"Verdict on earnings at CHRW has been swift and savage. It hit a 52-week low at $71.57 today. It was $89.71 as recently as Jan 5. Stock hasn't been this low since May '20." - John Kingston
UPS acquired Coyote Logistics in 2015 for $1.8 billion, marking it as the most expensive acquisition in UPS history at the time.
QOTD: Can you guess the total marginal cost per mile for operating a semi-truck in 2022?
Plus, a new scam is tricking brokers. Scammers are pretending to be both shippers and carriers.
"Lots of other reasons to be bullish on the trucking industry in 2024: retail inventories have burned off, easing credit conditions, ..." - Craig Fuller, CEO & Founder of FreightWaves.
Valued at $8 billion in February 2022 (for comparison, CH Robinson's market cap was at $10 billion), they have been on the receiving end of both criticism and praise.
"Our number one challenge is fraud; fraud is rampant in trucking, it has ballooned to an $800 million problem. There's a surge of malicious actors engaging in illegal activity. Unfortunately, FMCSA is failing to enforce the law..." - Jeffrey Tucker
A mere 1.2% growth is expected this year, with a slight uptick to just over 2% in 2025.
Which logistics conferences will you be attending this year, and which one is your favorite?
"At issue is whether a broker be held liable for the negligence of a motor carrier." - Matthew Leffler, the Armchair Attorney
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