#1 Logistics, Freight and Transportation News - FreightWaves
2 days ago · In late 2024, retail giant Macy’s revealed a shocking accounting scandal involving its parcel delivery expenses. It said a single employee had managed to hide approximately $151 million in delivery costs over nearly three years, causing significant disruption to the company’s financial reporting and raising questions about its internal controls.
Supply Chain, Logistics, and Trucking News & Data - FreightWaves
FreightWaves is the most trusted provider of global supply chain market intelligence. Our high-frequency price, demand, and capacity data and analysis allow our customers to benchmark, analyze, monitor and forecast the global physical economy.
Why Walmart pays its truck drivers 6 figures - FreightWaves
Jan 23, 2024 · Last year, Walmart announced another key pivot. The company said in January 2023, building on a pilot it launched the year before, that it would allow Walmart associates living in participating locations to apply to a 12-week CDL program.For perhaps the first time, a Walmart company driver doesn’t need years of experience to get …
Container shipping outlook 2024: Rising risk of delays, disruptions
Dec 7, 2023 · It’s not just about the Panama Canal. With the Suez Canal, there have been attacks on ships in the Red Sea, and on top of that, we have the ILA contract expiring at the end of next September [The International Longshoremen’s Association contract for East and Gulf Coast dockworkers]. FREIGHTWAVES: The ILA has specifically warned that it will strike on Oct. 1, 2024, if its demands aren’t met.
Forward Air retains investment bankers to sell company, sources say
Oct 17, 2024 · Investors were also concerned with a headline price tag of $3.2 billion, greater than Forward’s roughly $3 billion market cap at the time. The transaction also required Forward to assume Omni’s $1.4 billion in net debt and give its private equity backers – Ridgemont Equity Partners and EVE Partners – a 38% equity stake, which the …
J.B. Hunt eyes intermodal pricing inflection - FreightWaves
Nov 20, 2024 · Earlier this year, it acquired intermodal equipment from Walmart (), a longtime customer of the company.The deal, which included volume commitments, is now part of J.B. Hunt’s 40% growth plan. J.B Hunt also hired 800 intermodal drivers from mid-June through September to accommodate the volume increase.
FMCSA clearinghouse rule puts bullseye on freight capacity
Nov 21, 2024 · But Wingfield, discussing the capacity implications with Fuller at FreightWaves’ F3: Future of Freight Festival in Chattanooga, Tennessee, contends that the new enforcement powers granted to the states for prohibited-status drivers – automatic revocation of the drivers’ CDLs – is the biggest game-changer for freight capacity since FMCSA stood up the clearinghouse in January 2020.
FreightWaves announces 2025 FreightTech 100 companies
Sep 23, 2024 · Related: See previous winners Methodology. The FreightTech 100 list is produced by a panel of journalists, analysts and experts chosen by FreightWaves. The voting form included more than 250 companies with information condensed from nearly 900 nominations.
More layoffs hit freight-related companies across US
Nov 21, 2024 · Advance Auto Parts will be closing 500 corporate stores, 200 independently owned locations and four distribution centers by mid-2025, according to a news release.. The company’s third-quarter earnings report, published Nov. 14, said closing the retail locations and distribution centers is part of “a strategic plan to improve business performance with a focus on core retail improvements.”
Covenant Logistics CEO sees trucking market rising in 2025
Nov 20, 2024 · Covenant Logistics Group co-founder and CEO David Parker predicts the trucking industry’s peak season will see positive growth this holiday season. “Last week started the first week of peak that will go until about Christmas, and peak, it shot up about 105% last week, and this week peak is growing even more,” Parker said.