Trucking giant YRC Worldwide Inc. on Thursday reported a $6.2 million profit in the final months of 2014 as its national freight business turned in stronger operating results.
Rebuilding Teamster Power in Freight
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Frank Rogers, Yellow, Local 41, Kansas City
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A Superior Court judge on Thursday ruled that seven drivers working for Pacer Cartage at the ports of Los Angeles and Long Beach are employees and are owed a total of more than $2 million in damages.
Driver turnover remained at elevated levels for truckload fleets of all sizes, inching up one percentage point to 97% at larger carriers and remaining at 94% at smaller fleets, American Trucking Associations reported.
The numbers compared to the second quarter of last year showed sequential stability in both the truckload fleets with revenue of more than $30 million and those with revenue below that benchmark.
YRC Freight is looking to increase its use of purchased transportation to increase its profitability, according to a leaked internal memo.
ABF Logistics has purchased Smart Lines Transportation Group, a truckload brokerage firm based in Oklahoma City, for $5.17 million.
Smart Lines, which primarily serves the food, energy and industrial sectors, has 24 employees and generates about $18 million in annual revenue, ABF said.
ABF Logistics is the third-party logistics arm of ArcBest Corp. and a sister company to less-than-truckload carrier ABF Freight.
The acquisition, completed Jan. 2, expands ABF Logistics into the Oklahoma City market.
January 5, 2015: The YRCW Board of Directors, including two nominated by James Hoffa, has handed the top two executives a $10 million bonus.
YRC Worldwide Inc. has terminated its employment agreements with CEO James Welch and CFO Jamie Pierson. However, the Overland Park-based company's top executives aren't going anywhere.
Monthly Transport Trader. Our Transport Trader report is a monthly review of transport stock performance. We show transport performance vs. the S&P 500 and other sectors, sub-sector performance (e.g. rail vs. truck), comparable stock performance (e.g. FDX vs. UPS), and individual stock performance vs. the market and peer group.
Questions and answers on the impact of the suspension of the HOS restart provision approved by Congress (as supplied by American Trucking Associations):
While Google Inc. plans to someday unleash driverless cars on public streets, the logistics industry will probably be one of the first training grounds for such automated vehicles.