We sat down with Jonathan Kolb, Founder of OBC ONE, to explore the high-stakes, hand-delivered world of onboard couriers where packages fly 8,000 miles and delays can cost millions. Plus: our featured carrier of the week.
Plus: Strait of Hormuz tensions, Senate pushes English tests for CDL drivers, Craig Fuller slams FourKites’ CEO, and more in today’s newsletter.
Craig Fuller clarifies that his comments on Project44’s Movement platform were misrepresented by FourKites CEO Matt Elenjickal
Amid bankruptcy, Yellow weighs revival bid and auction of assets including a significant real-estate portfolio.
Bankrupt trucking company Yellow, formerly a major player in the less-than-truckload sector, is considering a revival bid led by Sarah Riggs Amico of Jack Cooper Transport. This bid competes against offers for Yellow's assets, including a $1.525 billion bid from Estes Express Lines for its real estate. Yellow, which collapsed this summer, owes significant debts to secured creditors and pension funds. The Amico bid includes a request to extend a $700 million federal loan and offers $1.1 billion in financing, along with $1.5 billion in perpetual preferred shares to unsecured creditors. The auction for Yellow's assets, including its real estate and fleet, is ongoing, with potential to raise sufficient funds to repay debts.
Source: The Wall Street Journal
The trucking industry believes bankrupt trucker Yellow is dead. This company wants to resurrect it. https://t.co/mhrtdwwheyhttps://t.co/mhrtdwwhey
— The Wall Street Journal (@WSJ) November 29, 2023
Source: The Wall Street Journal
Senate bill proposes mandatory English tests for new truck drivers before CDL approval.
Today we sat down with Chris Kuna, a transportation pro with over a decade of experience. He shares what the logistics industry misunderstands about truckers' lives, habits for staying healthy on the road, and his long-term vision for Driverness.
Today’s FreightCaviar newsletter covers the new English proficiency enforcement for CDL holders—but this expanded article dives deeper into the debate, the risks, and the potential disruptions for freight.
U.S. carriers say foreign B-1 visa truck drivers are illegally hauling domestic loads, undercutting rates and pushing small operators out of business.
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