Plus, a Chicago-based freight broker boasts about making $215k in one day, Lineage Logistics hits it big with an $18 billion IPO, the latest on the Ocean's 11-style freight heist, and more.
We took the opportunity to ask our Instagram followers about their best days as freight brokers. Here are some of their responses...
Heartland Express, Covenant Logistics, and Knight-Swift Q2 earnings show mixed results, debt reduction, and market stabilization signs.
We see a surge in cargo theft in Q2 2023, with experts urging the need for strategic response and increased security measures.
With cargo theft soaring to a 10-year high, the Q2 2023 has seen a sharp rise in cargo theft incidents in the US and Canada. Scott Cornell, transportation lead at Travelers, paints a grim picture with data from CargoNet:
Strategic thefts involving stolen identities instead of force are the major culprits. With the rise of strategic theft, perpetrators are no longer limited to major freight hubs. The industry is responding, with load board operator Truckstop launching 'Fraud Prevention Friday,' a series aimed at educating carriers. Travelers Companies has also enhanced its cooperation, leveraging the Trucker Path mobile app to report theft swiftly. Cornell emphasizes the importance of being prepared, stating: “You must have a plan.”
On Monday, the CHP Cargo Theft Interdiction Program (CTIP) responded to a warehouse facility in the city of Stockton, and located 48 pallets of stolen paint, valued at approx. $229,000. This investigation remains ongoing. Great work by all! pic.twitter.com/JZr2Zjyqpb
— CHP Headquarters (@CHP_HQ) August 11, 2023
New hire's suspicious behavior raises red flags at freight company. Industry veteran shares similar tale, highlighting ongoing corporate espionage concerns.
We are currently getting insider information from a freight broker who is dealing with this situation.
Zigmantas allegedly created several fake identities and companies, including both motor carriers and brokers.
Alice F. Martin, owner of Martin Logistics, faces charges for evading nearly $1.2 million in taxes.
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