Optimize freight broker operations by fixing payment workflows in Q1. Streamline carrier pay before capacity shifts compress your margins.
Tucker Carlson’s nicotine brand loses 378,000 tins in a cargo theft. Plus: produce rates reset, diesel climbs, and a bill that could pull hundreds of thousands of drivers off the road.
The Middle East crisis is already hitting carriers. Plus: Florida lost $3B in crops, flatbed rates posted a fifth straight weekly increase, a $5B brokerage was just acquired, and more.
Let’s take a look into some of the logistics and transportation companies that have earned their place on Inc. 5000 2023.
Good Monday Morning. Old Dominion Freight Line just placed a hefty bid for Yellow's sprawling network of terminals. Meanwhile, the Inc. 5000 list sheds light on the fastest-growing logistics and transportation companies, offering insights into who's paving the way forward. Over in California, the repercussions of Tropical Storm Hilary and the subsequent earthquake continue to challenge the transportation infrastructure, with long-lasting impacts yet to be fully realized. Plus, don't miss our interview with John Stauffer of ISO Technologies, shedding light on the pivotal role of data in modern logistics.
In today's email:
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WHAT’S COOKIN’ IN FREIGHT
📦 The FICO of Freight. In a tumultuous 2020, John Stauffer and Brian Cristol launched ISO Technologies (ISO), aiming to be the freight industry's central source of truth. As OTIF (on time in full) reshaped shipping, ISO's solution became vital, scoring freight performance akin to FICO for credit. With this, ISO offers a neutral platform for data-backed excellence in logistics. With funding from industry giants like Maersk, the company aspires to establish ISO scores as the industry benchmark. Hear John's complete insights on ISO's journey and vision over on the FreightCaviar Spotify or Youtube channels.
🚫 Fake Shipper Fraud. Cassandra Gaines, CEO of Carrier Assure, has raised alarms over a rising trend in freight fraud. She shed light on schemes where fake shippers deceive brokers with counterfeit shipments, vanishing with the payment. Prevention tips include thorough shipper vetting, using DMV and Experion credit checks, limited credit extensions, and utilizing Carrier Assure or SAFER FMCSA for carrier validation. Replies stress vigilance and caution, with some expressing discontent with FMCSA's regulatory framework.
🌧️ Tropical Storm Hilary & Earthquake Hit California Infrastructure. On August 20, Southern California faced major disruptions as Tropical Storm Hilary, the region's first in 84 years, wreaked havoc on roads and infrastructure, causing widespread flooding, mudslides, and power outages. Compounding the chaos, an earthquake with a magnitude of 5.1 struck near Ojai. With highways blocked by mud and fallen debris, cities from San Diego to Los Angeles faced significant transportation challenges.
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See what makes nearshoring to Mexico an attractive option for scaling a logistics company and how partnering with Rapido Solutions Group simplifies the whole process.
Every year, entrepreneurs and business leaders eagerly await the release of the Inc. 5000 list, an accolade that has become synonymous with entrepreneurial success. This prestigious list, curated by Inc. magazine, showcases the fastest-growing private companies in the United States over a three-year period.
For companies in the logistics and transportation sector, earning a spot offers unparalleled visibility, potentially attracting investors, partners, and new clients. Moreover, the recognition reinforces a company's standing in the market, endorsing its strategies and highlighting its growth trajectory.
Let’s take a look into some of the logistics and transportation companies that have earned their place on Inc. 5000 2023.
Spotlight on AFC Logistics: Securing the 55th spot on the list, AFC Logistics' staggering 7,609% growth over the past three years is not just an achievement; it's a testament to the company's commitment to excellence. Based in Tampa, Florida, AFC Logistics' rise in the Inc. 5000 rankings exemplifies emerging businesses in the logistics sector, proving that anything is possible with innovation and determination.
Spotlight on TransLoop: “How are we doing this?... The answer is our people, our ethical approach…the tools we utilize that allow us to move and book freight successfully, and our team's clear, coherent path of creating the most transparent, reliable, and collaborative freight brokerage in the country,” says CEO Nicholas Reasoner.
It's impressive to see how the logistics and transportation sector, often seen as a traditional industry, is making significant leaps in terms of growth and innovation. These companies, through their rapid expansion, are underscoring the importance of logistics in the modern economy, demonstrating that the backbone of trade and commerce remains as vital as ever.
As the year progresses, these Inc. 5000 companies, and others in their sector, will be ones to watch, setting the pace for the industry's future.
FreightCaviar also wants to give a special shout-out to our awesome sponsor, OTR Solutions, for making this year’s list.
If you made the list and we didn't include your company, send us an email at pbj@freightcaviar.com. We'll make sure to give you a shoutout in our next newsletter.
FACTOR WITH OTR SOLUTIONS
OTR Solutions is laser-focused on helping brokers & carriers scale and protect their businesses. Quick pay options, 24-hour margin funding, and maintaining cash flow with OTR Solutions help you compete with the biggest brokers & carriers in the industry and stay afloat. You work hard, let OTR Solutions work for you. Read more here.
AROUND THE FREIGHT WEB
🚚 Retro Roads. In 1940, Texas' speed limit peaked at 45 MPH, with trucks capped at 25 MPH.
🥖 Surprise Snack Stats. At Tullo Truck Plaza, the top seller isn’t coffee—it's the buttered roll.
🚛 Yellow's Golden Offer. Old Dominion Freight Line ups the ante, outbidding Estes Express with a whopping $1.5 billion proposal for bankrupt trucker Yellow’s prized 169-terminal real-estate network
🌍 Sanction Slip. Despite EU sanctions on Russia, clever detours through Georgia help goods sneak through. Watch this video from DW for more details.
🚚 Did the Freight Market Bottom? Trucking capacity adjusts to increased freight volumes, indicating a potential market stabilization.
FREIGHT MEME OF THE DAY
Tucker Carlson’s nicotine brand loses 378,000 tins in a cargo theft. Plus: produce rates reset, diesel climbs, and a bill that could pull hundreds of thousands of drivers off the road.
The Middle East crisis is already hitting carriers. Plus: Florida lost $3B in crops, flatbed rates posted a fifth straight weekly increase, a $5B brokerage was just acquired, and more.
Plus: autonomous trucking just raised $113M, California is fighting to keep 20,000 drivers, Arrive's 2026 truckload freight forecast, and more.
Two bills just dropped in the Senate that could reshape trucking faster than anything since deregulation. Plus: Russian hackers targeted your load board, flatbed rejection rates just hit 40%, and a robot is taking the Houston-Dallas overnight run.
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