The Yellow Corp. shutdown is having a downstream effect on the less-than-truckload space as freight volumes flow toward competitors.
August 24, 2023Search
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Justin Olsen, maintenance director at TCW, breaks down the hidden impact of poor trailer management on operations, compliance and safety.Â
Private Equity Firm H.I.G. Buys 3PL Ascent Global Logistics
A unit of H.I.G. Capital is to acquire third-party logistics provider Ascent Global Logistics for an undisclosed sum, the Miami-based private equity group said Aug. 22.
August 23, 2023UPS Workers Approve New Union Contract
The 340,000 employees of UPS Inc. represented by the International Brotherhood of Teamsters have approved a new five-year labor pact with the company.
August 22, 2023Estes Offers $1.3 Billion for Yellow Terminals
Estes Express Lines is in line to buy the terminals of bankrupt less-than-truckload rival Yellow Corp. after submitting a $1.3 billion bid, a court heard Aug. 17.
August 17, 2023Citadel Acquires Yellow Debt Owned by Apollo, Other Lenders
An affiliate of Ken Griffin’s Citadel has acquired roughly $485 million in Yellow Corp. debt previously owned by Apollo Global Management and other lenders to the bankrupt trucking firm.
August 16, 2023Yellow Looks to Finalize Bankruptcy Loan
Yellow Corp. continues to work with potential financiers, including Estes Express Lines, who are offering more affordable alternative bankruptcy financing for the LTL trucking company.
August 11, 2023Forward Air Plans Merger With Omni Logistics
Forward Air Corp. and Omni Logistics announced Aug. 10 that they have entered into a definitive agreement to combine in a cash-and-stock transaction.
August 10, 2023Trucking Industry Reports Predictably Weak Q2
The trucking industry reported a weak second quarter with freight volumes and destocking efforts putting downward pressure on demand.
August 10, 2023Yellow Might Get Loan From Fellow Trucking Fleet to Pay Debts
Yellow Corp. has sparked a bidding war between investment firms and a rival trucking company interested in funding the now-shuttered company’s liquidation.
August 9, 2023Searches for UPS Jobs Soar Following Union Deal
UPS Inc. has become a hot employer since its union last month secured $30 billion in new money over a five-year contract.
August 8, 2023