A robust, proactive, and responsive security system is essential to reduce cargo theft risks effectively. Leading the charge in these solutions is remote live video monitoring. Learn more here.
In the latest episode of "The Freight Caviar Podcast", we sit down with Danny Frisco, CEO & Co-Founder at Rapido Solutions Group. He discusses the advantages and disadvantages of outsourcing and Rapido's future growth plans.
Plus, an EV maker partners with Ryder to test a hybrid diesel system, HappyRobot releases an AI update for brokers, and load board traffic declines over the past 3 months.
Yellow Trucking Faces Bankruptcy After $700M Bailout
Trucking company Yellow faces bankruptcy following financial struggles and a dispute with its union, raising concerns about pandemic relief loan management.
Yellow, a trucking company formerly known as YRC Worldwide, is facing a potential bankruptcy this summer after a long-standing financial struggle, further exacerbated by a dispute with its union. The company, which lost over $100 million in 2019 and has outstanding debt exceeding $1.5 billion, including a $700 million pandemic relief loan from the federal government, is now in litigation with the International Brotherhood of Teamsters. Yellow accuses the union of hindering its restructuring plans and causing further financial damage.
The situation raises broader concerns about pandemic relief funding and defaults, with a potential 17% of funds going to fraudulent actors, according to a report from the U.S. Small Business Administration.
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.
North Carolina upgrades weigh stations with $5.8M tech boost. New systems include weigh-in-motion and license plate readers for improved safety and efficiency.
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