Thomas Healy was secretly arranging a deal to turn his Texas-based truck electrification startup into a publicly traded company when the coronavirus pandemic struck.
October 5, 2020BusinessEquipment
September Class 8 Orders Clear 31,000 for Best Showing Since October 2018
North American Class 8 orders in September rocketed to the highest point since late 2018, surpassing 31,000 and climbing well beyond replacement levels, ACT Research reported, citing preliminary OEM data.
October 5, 2020GovernmentBusinessSafetyFuel
Tropical Storm Delta Forecast to Become Hurricane, Hit Louisiana
Tropical Storm Delta is forecast to become a hurricane in the Gulf of Mexico later in the week of Oct. 5, clipping western Cuba and becoming the record 10th storm to hit the U.S. when it makes landfall between Louisiana and Florida by Oct. 9.
October 5, 2020BusinessEquipment
FleetPride Adds Assets of TransAm Truck and Trailer Parts
FleetPride Inc. announced it acquired the assets of TransAm Truck and Trailer Parts of Rockford, Ill.
October 5, 2020Business
ATRG Appoints Two Key Executives
American Trailer Rental Group announced two key executives’ appointments. The Walton, Ky.-based company promoted Brent Meadors to chief operating officer and named Heath Northcutt chief commercial officer.
October 5, 2020BusinessTechnologyLogisticsTop 100
XPO Marks App Milestone
XPO Logistics Inc. announced that demand for its XPO Connect digital freight marketplace has reached two global milestones — more than 200,000 downloads of the Drive XPO mobile app and over 65,000 carriers registered on the platform.
October 5, 2020BusinessEquipment
Bendix Buys Out Dana’s Share in Joint Venture
Bendix Commercial Vehicle System announced it acquired full ownership of Bendix Spicer Foundation Brake, the joint venture it formed in 2004 with Dana Inc. Bendix is a subsidiary of Germany-based Knorr-Bremse.
October 5, 2020GovernmentBusiness
Market Gets Harsh Reminder That COVID Is Its Elemental Risk
In 24 hours, investors have learned the jobless rate dropped, Tesla Inc. built more cars than forecast and that someone is back making huge options trades in tech megacaps. None of it mattered in markets captivated by news that not even the White House is safe from COVID-19.
October 2, 2020BusinessTechnologyFuel
GM Considers Boosting Stake in Nikola in Reworked Deal
General Motors Co. is considering revisions to its deal with embattled Nikola Corp., according to people familiar with the discussions, and may seek a higher stake in the startup now that its valuation has fallen after allegations of deception.
October 2, 2020BusinessTop 100
Kenan Advantage Group Acquires Canadian-Based Paul’s Hauling
Kenan Advantage Group has completed its acquisition of Paul’s Hauling Ltd.
October 2, 2020