Plus: LAPD busts a $3.9M cargo theft ring, Nuvocargo and UPS expand in North America, U.S. moves to ease rules for self-driving trucks, Funny Freight Friday, and more.
Funny Freight Friday: Same thing.
The market’s brutal, sure, but for freight agents with the right tools, it’s prime hunting season. Here’s how they’re making it work.
Struggling truckload carrier Yellow Corp. gains a reprieve from lenders, waiving certain financial targets, and giving the company time to navigate challenges from the Teamsters union and bankruptcy threats.
Yellow Corp., a less-than-truckload carrier, has negotiated a deal with its lenders that absolves it from meeting certain financial targets. In exchange for this leeway, Yellow Corp. has agreed to a series of stipulations, including reporting to a third-party "operational adviser." This agreement gives Yellow Corp. the breathing space it needs to navigate ongoing conflicts with the Teamsters Union and potential bankruptcy threats. The company also sold a terminal in Compton, California, for $80 million as part of its reorganization efforts to pay off over $1.3 billion in loans and right its balance sheet.
Source: WSJ
Yellow Trucking should be targeted
— dahnaad ahshaad (@ahshaad) July 10, 2023
for a financial investigation by the
GOP Congress, & soon to be out of
money, after blowing a $700 Million
taxpayer backed loan from former
president donald trump in 2019, not
a peep from crime fighter mccarthy pic.twitter.com/dfHGNgBOEP
Today we sat down with Karolina Plecha, a truck driver living in Norway. She shares insights on life on the road, the future of electric vehicles, and what she does to prepare for unpredictable weather conditions.
Is this trucker a criminal or just a hustler trying to stay in the game? It depends on how you look at it.
Nikola Corporation, once valued at $30 billion and hailed as the future of EV trucking, has filed for Chapter 11 bankruptcy. The company’s stock plummeted 40% today, marking a staggering 99% decline from its 2020 peak of $1,977 per share to just $0.45.
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