FedEx announced March 17 that year-over-year quarterly net income for its fiscal third quarter fell 57% to $315 million, compared with $739 million in the same period a year ago. But Q3 revenue rose 3% to $17.5 billion from $17 billion a year ago.
March 17, 2020Search
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Celadon Might Sell Texas Facility as Bankruptcy Proceedings Continue
According to bankruptcy court documents, P.A.M. Transportation Services Inc. is seeking to purchase a trucking terminal and property in Laredo, Texas, that is owned by Celadon Group.
February 5, 2020Celadon Reaches Deal to Sell Taylor Express for $14.5 Million
An agreement has been reached to sell the last remaining operating trucking company, Taylor Express, that is part of the now-bankrupt Celadon Group of Indianapolis.
January 24, 2020Drone Deliveries Begin a Slow Takeoff
Aerial drones are emerging as a way to help solve challenges associated with last-mile deliveries in a number of conditions and environments.
January 13, 2020Ruling That Awarded Walmart Drivers $54 Million Stands, Appeals Court Says
A three-judge panel of the 9th U.S. Circuit Court of Appeals has affirmed a district court’s judgment that Walmart pay a court-certified class of its California truck drivers more than $54 million in back pay for layovers, rest breaks and pre-trip and post-trip inspections.
January 7, 2020Bankruptcy Judge OKs Plan to Keep Celadon’s Taylor Express Operating
Celadon Group has been authorized by a bankruptcy court to spend $1.2 million before Jan. 3, 2020, to maintain operations for Hope Mills, N.C.-based Taylor Express Inc. — the last of its operating units that is still in business — while it pursues a sale of the company.
December 16, 2019Celadon Files for Bankruptcy, Shuts Down
Celadon Group Inc. is filing for bankruptcy and shutting down immediately amid falling freight rates and the effects of penalties levied by the U.S. Department of Justice for settlement of securities fraud charges brought against prior management.
December 9, 2019Two Former Celadon Executives Charged in Fraud Scheme
The Securities and Exchange Commission and federal prosecutors on Dec. 5 charged two former top executives of Indianapolis-based trucking company Celadon Group Inc. for their participation in an accounting fraud in 2016 and 2017 that allegedly inflated the company’s income and earnings per share.
December 5, 2019Coyote Predicts Spot Market Prices to Rise in Q1 2020
Coyote Logistics forecast truckload spot rates will increase heading into 2019’s peak season and continue into 2020 in its prediction for the final quarter of the year.
November 21, 2019Dean Foods Bankruptcy Should Have Little Impact on Trucking, Experts Say
Trucking and agriculture officials said the Chapter 11 bankruptcy filing by Dean Foods and its decision to sell its assets to the national milk marketing cooperative Dairy Farmers of America is not an indication of a broader problem in the sector, at least in the short term.
November 20, 2019