About 30,000 workers are set to lose their jobs as the shipping company Yellow has apparently shut down operations. Being one of the country’s biggest carriers specializing in smaller freights that don’t fill up an entire truck, the closure will “likely affect how certain goods will continue to be delivered.” Read more…
Category Archives: Logistics
WAREHOUSE RENTS TO GO AGAINST LOGISTICS TRANSPORTATION DROP
Even as supply-chain costs plummet from pandemic highs, Hamid Moghadam, the CEO of the world’s largest warehouse landlord, claims that warehouse rent prices will continue to rise. Warehouse lease prices “have proven far more resilient than air, ship, truck and train transportation rates which have dropped sharply due to the consumer spending shift from goods to services, inflation and higher borrowing costs.” But now, with markets returning to more normal conditions, warehouse rent hikes are likely to increase. Read more…
OPERATING AUTHORITY KEY IN BECOMING AN INDEPENDENT DRIVER
If you’re thinking of becoming an independent truck driver, it is key to remember that “the responsibility for complying with Operating Authority requirements falls squarely on the driver’s shoulders.” You must become completely familiar with “filing fees, the type(s) of authority your business will require and minimum insurance requirements.” Read more…
YELLOW TRUCK HEADED FOR BANKRUPTCY
Craig Fuller, founder/CEO of FreightWaves, American Shipper, and CEO of FLYING Magazine exclaims that Yellow Truck “company failed to make payments to its pension plan. The Teamsters have threatened to strike on Saturday if not resolved. In its weakened state, it’s doubtful that Yellow can recover from this.” With a massive surplus of truckers, a Yellow Truck bankruptcy might remove some of that supply. Read more…
LOGISTICS COMPANIES CUTTING PAYROLLS IN FALTERING MARKET
Package carriers, warehouse operators and other logistics companies are cutting payrolls as the need to ship goods decreases while the U.S. economy “pivots toward spending on services.” According to preliminary figures released by the Bureau of Labor Statistics, “freight and parcel carriers cut more than 14,000 jobs from May to June.” This drop has been par for the course following the massive surge in hiring throughout the pandemic “when strong e-commerce growth triggered a rush to expand supply chains from shipping docks to distribution centers.” Read more…
140 LOGISTIC JOBS COMING TO ANN ARBOR
Governor Gretchen Whitmer and the Michigan Economic Development organization announced that RXO Corporate Solutions, LLC. is expanding its operations into Ann Arbor, bringing over 140 jobs with their upcoming expansion. RXO Corporate Solutions, LLC. is a premier logistics provider that offers transportation solutions . Read more…
LOGISTICS FIRM XPO CUTTING JOBS
Logistics company XPO Inc is cutting jobs, even as “it surpassed Wall Street targets for first quarter adjusted profits” due to cost controls for waning freight demand. Many of XPO customers, such as Ford Motor Co, General Electric Co and Caterpillar Inc, have met with “a decline in shipments as high inflation and fears of an impending recession make consumers wary about spending.” – Read More
HOUSE SUBCOMMITTEE HEARS TESTIMONY ON TRUCKER ISSUES
The House Committee on Transportation and Infrastructure’s Subcommittee on Highways and Transit heard testimony recently from several leaders in the trucking industry, including Lewie Pugh, executive vice president of the Owner-Operator Independent Drivers Association, Anne Reinke, president and chief executive officer of the Transportation Intermediaries Association, David Fialkov, executive vice president for Government Affairs of NATSO, and Cole Scandaglia, senior legislative representative and policy advisor of the International Brotherhood of Teamsters. Some of the issues included “the need to attract younger drivers to the profession” and the importance of providing adequate truck parking. Read more…
SHOPIFY OFFLOADS LOGISTICS BUSINESS TO FLEXPORT
Shopify is offloading its logistics business to the supply chain technology company Flexport, the two companies recently announced. The move “marks a reversal for Shopify, which had spent years building out its own logistics and order-fulfillment operations. The unit includes last-mile delivery startup Deliverr, which Shopify purchased last May for $2.1 billion, its largest acquisition ever.” Read more…
TOTAL QUALITY LOGISTICS EXPANDING IN ST. LOUIS
Total Quality Logistics, the second-largest freight brokerage firm in North America, just announced that it’s “expanding its presence in St. Louis, investing $370,000 and creating 85 new jobs.” With this expansion, Total Quality Logistics will get aid from the Missouri Works program, “a tool that helps companies expand and retain workers by providing access to capital through withholdings or tax credits for job creation.” Read more…