Amidst reports that the trucking company is planning to file for bankruptcy, a Yellow Corp. worker provides an update on the latest information he has as of Wednesday afternoon.On Sunday, the Teamsters announced that Nashville-headquarted Yellow had averted a looming strike by making an agreement with the Central States Pension Fund that afforded the company ...more
A UPS truck exits a Chicago distribution center. (Christopher Dilts/Bloomberg News) UPS Inc. and the International Brotherhood of Teamsters on July 25 reached a tentative five-year collective bargaining agreement that covers more than 340,000 workers, the company and the union announced in separate statements. The deal, which must now be ratified by the rank-and-file membership, ...more
CEO Chris Urmson says Aurora has put itself in a strong financial position for at least the next 18 months to two years. (Aurora Innovation via Twitter) Autonomous technology developer Aurora Innovation says a new round of public and private funding of at least $800 million to $820 million means it will have enough money ...more
Alghabra has been transport minister since January 2021. (omaralghabra/youtube) Transport Minister Omar Alghabra said he has decided not to run in Canada’s next election and will be stepping aside from the Cabinet as a result. Prime Minister Justin Trudeau is set to shuffle his front bench as soon as July 26 and ministers who aren’t ...more
Traffic on Interstate 65 in Shepherdsville, Ky. Heavy storms brought flash flooding, hail and damaging winds to western Kentucky and other parts of the state July 17-19. (John Sommers II for Transport Topics) Kentucky officials have issued a temporary emergency order waiving federal hours-of-service rules and weigh station requirements through Aug. 18 for truckers assisting ...more
Stellantis CEO Carlos Tavares in 2020 by Michel Euler/AP Stellantis NV’s third battery manufacturing plant in North America will be built with South Korean battery partner Samsung SDI in the United States, the companies said July 24. The exact location of the second plant under the existing StarPlus Energy joint venture wasn’t disclosed with the ...more
When economic conditions shake the market, transportation and logistics (T&L) companies are among the most vulnerable. Consumers have less discretionary spending in economic downturns, creating intense supply and demand fluctuations. As if this uncertainty isn’t enough, T&L companies are also plagued by economic aftershocks, such as skyrocketing hotel rates. Unstable market conditions create big challenges ...more
When economic conditions shake the market, transportation and logistics (T&L) companies are among the most vulnerable.Consumers have less discretionary spending in economic downturns, creating intense supply and demand fluctuations. As if this uncertainty isn’t enough, T&L companies are also plagued by economic aftershocks, such as skyrocketing hotel rates. Unstable market conditions create big challenges for ...more
GM raised its financial guidance for the full year with one qualification: that it can negotiate union labor contracts without a strike. (Matt Rourke/AP) DETROIT — Despite taking on a huge chunk of an expensive electric vehicle recall, General Motors posted $2.54 billion in second-quarter net income, a 52% increase over a year ago. Continued ...more
CN expects earnings per share will be flat or slightly down this year compared with 2022. (Luke Sharrett/Bloomberg News) Canadian National Railway Co. reported revenue of C$4.06 billion ($3.1 billion) in the second quarter, down 7% and missing analysts’ estimates. Earnings fell 9% on an adjusted basis to C$1.76 per share, or 4 cents below ...more
