🎣 Freight Alley Trip Recap
Join us as we sit down with Grace Maher and Reed Loustalot for a Freight Gong Friday recap.
UPS and Teamsters gear up to resume negotiations for a new labor contract. Talks focus on industry-leading pay and benefits for unionized workers.
Yellow Corp. accuses Teamsters of causing its financial crisis, leading to benefit payment deferment and potential labor strike threats.
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.
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