🎣 The Sleeping Driver
Here is another round-up of the most engaging and talked-about freight content from around the web and from us.
JB Hunt reports an 18% YoY drop in Q2 revenues due to a persistently weak freight market. The company seeks cost-effective strategies.
Phoenix sets a new high-temperature record, with persistent heatwaves.
ATA's For-Hire Truck Tonnage Index shows a 0.8% YoY dip in truck tonnage for June, despite a month-to-month rise. Freight market remains in a down cycle.
Yellow Corp. defers contributions, risking a Teamsters strike. The move is an attempt to conserve liquidity while securing additional financing.
Yellow Corp has failed to meet health and welfare and pension fund contributions of over $50M, potentially triggering a strike. Source: FreightWaves.
Trucking firm Big J Express has filed for bankruptcy amid a significant drop in revenue and debt overhang.
Expert suggests trucking downturn may start to improve but warns of a slow recovery until 2024.
Electric truck adoption faces challenges due to the lack of charging infrastructure and potential strain on the grid, highlighting the need for faster infrastructure development.
FMCSA is developing a test program for wireless, in-motion roadside inspections to improve efficiency, reduce delays, and cut greenhouse gas emissions.
A Brinks-hauled jewelry theft leads to lawsuits and accusations of undervalued goods.
DAT takes action against freight industry fraud with multi-factor authentication, educational resources, and enhanced security measures.
Struggling truckload carrier Yellow Corp. gains a reprieve from lenders, waiving certain financial targets, and giving the company time to navigate challenges from the Teamsters union and bankruptcy threats.
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