Plus: Feds probe fatal Florida crash tied to CDL failures, Trucking recession deeper than 2008 for some, Truckstop.com scoops up Denim for AI payments, and more.
FreightWaves contributor Adam Wingfield argues that trucking remains in a “Great Trucking Recession,” with suppressed rates, bankruptcies, and structural challenges hitting small carriers harder than 2008.
Truckstop.com acquired fintech firm Denim to expand AI-driven invoice automation and faster factoring options for carriers and brokers, aiming to improve cash flow and streamline back-office operations.
Yellow Corp has failed to meet health and welfare and pension fund contributions of over $50M, potentially triggering a strike. Source: FreightWaves.
The risk of a strike increases as Yellow Corp fails to meet over $50M in required health and welfare and pension fund contributions for June and July. The company cited avoiding a cash shortage as the reason behind the decision. This delinquency could prompt a work stoppage by the Teamsters union.
Despite these issues, Yellow remains committed to negotiating a new contract with the International Brotherhood of Teamsters. Experts suggest the financial struggles could signal a potential business closure for Yellow Corp.
Source: FreightWaves
The Teamsters Union has learned that two Yellow operating companies, Yellow Freight and Holland, have failed to make their contractually required contributions of $50 million to the Central States Health and Welfare Fund and the Central States Pension Fund for June 2023.
— Teamsters (@Teamsters) July 18, 2023
Plus: A Florida trucker charged in a fatal illegal U-turn crash, C.H. Robinson earns back its S&P upgrade, truck OEMs ditch the clean truck pact, and more.
FMCSA’s renewed English-language proficiency checks are sidelining drivers and igniting debate.
Truck manufacturers face steep order declines as regulatory rules remain unclear and tariff policy shifts. Some signs of recovery emerge, but the outlook stays cautious.
Six people died in a Charlotte underride crash, highlighting the severe dangers of cars sliding under tractor trailers.
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