200,000 drivers didn’t disappear overnight. Plus: Dalilah’s Law targets foreign dispatch, a broker ran a $1M USPS scam, the dashcam war escalates, and more.
B1 visa drivers and illegal operators are not the same thing. Here's the difference and why conflating them is hurting the industry.
Plus, Meadow Lark's surprising shutdown, U.S. container imports defy predictions, and Uber Freight announces tech-boosted proprietary tools.
Happy Friday. Our feature story dissects the most recent earnings reports, where we detail how supply chain dynamics are impacting retail giants like PepsiCo and Nike. Don't miss our headlines on Meadow Lark's unexpected closure and the surprising surge in U.S. container imports. Get a quick pulse on Wyoming's weather alerts as snowfall hits the region and more.
🤔 Trivia of the Day: What percentage of the world's cashews does Costco sell? Scroll to the bottom to find out.
In today's email:
TOP LANE MOVERS POWERED BY GREENSCREENS.AI
*Greenscreens.ai, forecasts real-time truckload buy prices that are suited to each freight brokerage's purchasing power using AI and machine learning. Its engine takes into account over 130 attributes and data points in each rate forecast.
🐔 WHAT’S COOKIN'WHAT'S IN FREIGHT
🚚 Meadow Lark Closes Doors. Meadow Lark, a prominent asset-based 3PL firm with 40 years of history, abruptly shuts down, leaving 275 employees in limbo. Despite recent success, including $200M in revenue in 2023, the FMCSA revoked the company's broker authority back in August. Meadow Lark's Director of Marketing confirmed the closure on LinkedIn, triggering distressed reactions from drivers and partners. The fate of outstanding payments and the company's credit situation remains uncertain, awaiting an official statement from the CEO.
📈 U.S. Container Imports Surge. Despite concerns, U.S. imports continue to rise, surpassing pre-pandemic levels. In September, the U.S. imported 27% more than the low point in February. Year-to-date imports are 2.5% higher than 2019, and September's imports were up 8% from the same month in 2019. Import volumes from China remain strong, accounting for 39.3% of total imports. The National Retail Federation slightly reduced its full-year forecast but still expects robust cargo volumes. Declining spot rates suggest a potential Q4 slowdown. Overall, the import market remains resilient despite recent fluctuations.
🖥️ Uber Freight Elevates With Trio of Tech Innovations. Uber Freight rolls out significant updates to its TMS, offering comprehensive supply chain visibility and integration across air, ocean, and rail. The new Uber Freight Exchange introduces simplified procurement, minimizing traditional RFPs and annual contracts. With a shift to an AI-centric approach, new features promise improved ETA predictions and enhanced customer support. Collectively, these advancements spotlight Uber Freight's intent to push the envelope in tech-driven logistics solutions.
TOGETHER WITH TRUCKER TOOLS
You're Invited: TIA Technovations Happy Hour
Trucker Tools is hosting a joint Happy Hour with Tai Software and FreightWaves Sonar at the TIA Technovations Conference. Join us for some after-conference fun and network with other members of the logistics community. We can't wait to see you there!
Sign-up here. Admission is free!
As the economy continues to deal with issues like inflation, global tensions, and a looming recession, here's a look at how top brands are strategizing for now and the future. As more earnings reports roll in, it's key to follow company trends to anticipate individual shipper needs and see where the logistics market could be headed next.
Sources: PepsiCo, Walgreens Boots Alliance, Constellation Brands, Nike, & Costco
FREIGHT CONFERENCES WE'RE ATTENDING
AROUND THE FREIGHT WEB
❄️ Early Snow in Wyoming. Wyoming witnessed snowfall driven by a potent storm impacting Central and Eastern ranges from Wednesday to Friday.
🍍 Del Monte's 2022 Logistics Dive. Robert Savage of Del Monte unpacks 2022 logistics challenges, spotlighting a shift from carriers to shippers and sustainability endeavors.
🚚 aifleet's Funding Boost. Tech-savvy trucking company aifleet clinches a $14 million venture round to enhance its driver-centric solutions.
🚗 Auto Workers' Ripple Effect. The United Auto Workers strike triggers significant layoffs in the auto supply chain and halts production at Ford's largest global plant in Kentucky as 8,700 UAW members walk out, affecting automotive suppliers and automakers alike.
🔐 DAT's AI-Powered Risk Engine. DAT Freight & Analytics debuts an AI engine, redefining carrier vetting. This innovation promises enhanced security, trust, and transparency for brokers and carriers.
FREIGHT MEME OF THE DAY
Also, check out:
Answer: Costco sells 50% of the world's cashews. Check out other interesting stats about Costco, by clicking here.
200,000 drivers didn’t disappear overnight. Plus: Dalilah’s Law targets foreign dispatch, a broker ran a $1M USPS scam, the dashcam war escalates, and more.
FMCSA cracks down on MC numbers. A $158M trucking Ponzi. Middle East surcharges.
The domino effects are just starting to hit. Plus: FedEx dethroned UPS, Mexico truck production plunges, another $26M AI supply chain raise, and more.
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