163,318 truckers risk losing their CDLs when the FMCSA's new Clearinghouse rule takes effect in November. Here's what it means and how it impacts the industry.
Sunset Logistics, a large carrier in Grand Rapids, Michigan, ceased operations unexpectedly in October 2023, leaving employees without pay and drivers stranded. Financial strife had been building since March, with the owner injecting personal funds to keep the wheels turning.
The company auctioned off assets. Bidding opened on Tuesday, December 12 , and concluded at 6:00 pm on Wednesday, December 13.
Auction Update:
Assets Sold: The auction, which ended on December 13, featured over 45 late-model trailers and a semi truck among other equipment.
Debt Settlement: The proceeds are going towards settling the company's debts, with the auction facilitated by Orbitbid in collaboration with a secured creditor.
Final bid for a 53' dry van semi-trailer with advanced features closed at $23,525 USD. Image Source: OrbitBid
Hi! I'm Adriana and I've been working for FreightCaviar as Head Writer for a little over a year now. Some of my favorite topics to cover are FreightTech, Green Freight, and nearshoring/reshoring.
The US labor market is showing signs of stabilization as the rate of voluntary job quitting approaches pre-pandemic levels and employers implement better retention strategies.
