Freight


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Leaked memo: YRC seeks to outsource unprofitable runs

Austin Alonzo Kansas City Business Journal January 26, 2015 View the original piece YRC Freight is looking to increase its use of purchased transportation to increase its profitability, according to a leaked internal memo. A Dec. 18, 2014, memo obtained by theKansas City Business Journal, details a change-of-operations request to the International Brotherhood of Teamsters that would allow the company to increase its use of interline carriers — third-party transportation providers — in areas currently...

ABF Logistics Buys Oklahoma Brokerage Firm

Transport Topics January 09, 2015 View the original piece 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....

YRCW Hands $10 Million to Top Execs

January 5, 2015: The YRCW Board of Directors, including two nominated by James Hoffa, has handed the top two executives a $10 million bonus. “What happened to ‘equality of sacrifice’” asked Frank Fullerton, a YRC road driver out of Local 728 Atlanta. “This is a slap in the face to every YRC employee and retiree, who has given up wages, pensions and vacations. And the IBT goes along – one more reason to dump Hoffa...

YRCW Execs Get Big Pay Hike

Austin Alonzo Kansas City Business Journal January 05, 2015 View the original piece 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. According to a Securities and Exchange Commission filing late Friday, the less-than-truckload carrier (Nasdaq: YRCW) announced that the company's board approved termination of Welch and Pierson's current employment agreements to grant them a new, more competitive package in 2015. Click...

2014 Was a Happy Year for Transport Stocks

Wolfe Research January 05, 2015 View the original piece 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.Transports Give a Little Back in December, with Some Signs of Mean Reversion. Our WR Transport index fell 0.7% in Dec. and slightly...
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