Trucking companies are under close scrutiny, as the transportation sector contributes heavily to CO2 emissions, with trucks accounting for much of the growth in emissions from heavy-duty vehicles over recent decades.
Plus: Top 8 turkey producing states, cartel's trucking drug network uncovered, Macy's exposes $154M delivery expense fraud, and more.
Epay Manager’s F3 2024 rapid-fire demo showcased seamless TMS integration, AI-powered invoicing, and dispute resolution, helping freight brokers streamline workflows, save time, and improve cash flow. Watch the full demo now!
Trucking company Yellow faces bankruptcy following financial struggles and a dispute with its union, raising concerns about pandemic relief loan management.
Yellow, a trucking company formerly known as YRC Worldwide, is facing a potential bankruptcy this summer after a long-standing financial struggle, further exacerbated by a dispute with its union. The company, which lost over $100 million in 2019 and has outstanding debt exceeding $1.5 billion, including a $700 million pandemic relief loan from the federal government, is now in litigation with the International Brotherhood of Teamsters. Yellow accuses the union of hindering its restructuring plans and causing further financial damage.
The situation raises broader concerns about pandemic relief funding and defaults, with a potential 17% of funds going to fraudulent actors, according to a report from the U.S. Small Business Administration.
Source: NYTimes
a competitor being driven into bankruptcy isn't the healthy business buy signal some seem to think it is. Neither is an 18% drop in volume from the largest player as industrial activity turns negative $ODFL $FDX
— Jay Van Sciver (@HedgeyeIndstrls) June 28, 2023
Windrose Semi reveals striking similarities to Tesla's design. Here are the features, performance, and industry implications of their electric truck.
North Carolina upgrades weigh stations with $5.8M tech boost. New systems include weigh-in-motion and license plate readers for improved safety and efficiency.
Alabama jury rules against Daimler Truck NA in a $160M verdict for a truck driver injured due to alleged defective cab and seat design.
ATRI study shows 39% of truck deliveries face costly delays. Industry loses $15B annually.
Join over 12K+ subscribers to get the latest freight news and entertainment directly in your inbox for free. Subscribe & be sure to check your inbox to confirm (and your spam folder just in case).
