Inside: FedEx's market triumph, the controversy at Yellow Corp, Waabi and Uber Freight's decade deal, and the hammer comes down on PPP loan-scamming trucker.
As 2023 seasonal hiring gets underway, some retailers are cutting back on workers while others are hiring more.
Analysis of TuSimple's challenges in the autonomous trucking industry and FedEx's impressive financial performance surpassing expectations.
Forward Air Corp. and Omni Logistics combine forces in a definitive cash-and-stock merger transaction set to close this year.
On Aug. 10, Forward Air Corp. and Omni Logistics announced their intention to merge in a cash-and-stock deal. The combined entity aims to form a scaled enterprise focused on high-value less-than-truckload (LTL) services. Both companies' boards have approved, and the merger is slated to close later this year. Forward’s CEO, Tom Schmitt, will remain the chairman and CEO of the combined company, while Omni’s CEO, J.J. Schickel, will serve as president. The merger seeks to leverage the combined strengths of both companies to offer high-value freight and expanded services to clients.
Omni Logistics is set to merge with Forward Air Corporation, a publicly traded provider of asset-light transportation services, in a combination set to create a $3.7 billion entity. https://t.co/xYqhhgV1zO
— Business Journals (@bizjournals) August 10, 2023
Key trends in freight and shipping market of June 2023, with insights into spot market, carrier capacity, LTL sector and cross-border shipping.
Publicly trader transportation companies: Ryder, Landstar, and Old Dominion report Q2 2023 earnings.
Less-than-truckload carrier, Yellow Corp., has filed a $137 million lawsuit against the Teamsters union amid a severe financial crisis.
Less-than-truckload carrier Yellow Corp. faces a financial crisis, potentially running out of cash by August. The Teamsters union, citing past mismanagement, refuses another bailout.
Subscribe to our free tri-weekly newsletter for the latest in freight news and entertainment.
