Trucking Business News

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Transport Topics business coverage focuses on the financial, economic, and commercial aspects of the modern freight business. Looking at both the microeconomic and macroeconomic forces shaping bottom lines, the news in this category includes labor news, jobs reports, tonnage and sales indicators, operations analysis, money and banking, mergers, acquisitions, e-commerce, bankruptcy, insurance issues, and more.

GovernmentBusinessEquipmentFuelLogisticsTCA

Bill Would Create National EV Charging Network in Five Years

WASHINGTON — Rep. Andy Levin (D-Mich.) is reintroducing the EV Freedom Act, which seeks to build a nationwide electric vehicle charging network within five years.

May 5, 2021
GovernmentBusinessTechnologySafety

Delays Continue for Potential New FMCSA System to Score Carrier Safety

Nearly four years after it was first introduced, FMCSA has yet to make an official call on whether to incorporate the highly complex data method known as Item Response Theory — or IRT — into its Compliance, Safety, Accountability motor carrier safety rating program.

May 5, 2021
GovernmentBusiness

Indiana Awards $100 Million in Matching Funds for Local Infrastructure Projects

Indiana Gov. Eric Holcomb and Indiana Department of Transportation Commissioner Joe McGuinness recently announced $100.2 million in state matching funds have been distributed to local government agencies to support road and bridge projects.

May 5, 2021
GovernmentBusiness

Small Business COVID-19 PPP Runs Out of Money

The Small Business Administration said May 5 that the Paycheck Protection Program has been exhausted, after giving out nearly 10.8 million loans worth more than $780 billion since April 2020.

May 5, 2021
GovernmentBusiness

ODFL's David Congdon Receives North Carolina Award

David Congdon, executive chairman of Old Dominion Freight Line, received the Order of the Long Leaf Pine award on April 22.

May 5, 2021
BusinessLogistics

Amazon Fuels Canada’s Severe Warehouse Shortage

With the pandemic driving a belated embrace of online shopping in Canada, Amazon .com Inc. has been gobbling up warehouses. That has pushed the vacancy rate in the Toronto area down to just 0.5%, making it the tightest market in North America, if not the world.

May 5, 2021
BusinessTechnologyEquipment

Grote Appoints Brian Blanton Chief Financial Officer

Grote Industries announced Brian Blanton has joined the company as chief financial officer.

May 5, 2021
BusinessTechnologyEquipmentAutonomous

Electric Car Startup Lucid Hires Waymo Veteran as Finance Chief

Lucid Motors Inc., the Saudi Arabia-backed electric vehicle maker going public via a reverse merger, has hired a former executive of Alphabet Inc.’s Waymo as chief financial officer.

May 5, 2021
BusinessTechnologyEquipment

Stellantis CFO: Chip Shortage Impact Remains ‘Controlled’

MILAN — The Stellantis automotive company created out of the merger of Fiat Chrysler Automobiles and PSA Peugeot reported May 5 a 14% increase in first-quarter revenues, despite a drop in production due to the semiconductor shortage.

May 5, 2021
Business

Hertz Deems Knighthead Bid Superior in Exit From Bankruptcy

Hertz Global Holdings Inc. said a proposal from Knighthead Capital Management and Certares Management to buy the car renter out of bankruptcy was superior to an existing offer from a rival investor group.

May 5, 2021