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Top lawmakers in Washington’s dysfunctional Senate Republican Caucus said today they still plan to release their own revised statewide transportation package, despite blowing past another self-imposed deadline to get it done.
Speaking with The Olympian’s Brad Shannon a day after the new proposal was supposed to have been released, Majority Leader-in-Name-Only Rodney Tom said, "We’re going to look at it and tweak it. What we are trying to do is get this process kick started and get back to the table. "It’s hard to negotiate with yourself," he added. Learn More... The US Food and Drug Administration has put forward proposals for sanitary practices for people shipping and transporting food and animal feed.
The new regulations are a requirement of the Food Safety Modernization Act. The new sanitary transportation practices are designed to ensure that food is not transported under conditions that may cause the food to become adulterated. Learn More... Forward Air Corporation (NASDAQ:FWRD) today announced that its planned acquisition of all of the stock of Central States Trucking Co. and Central States Logistics, Inc. (collectively referred to as "CST" in this release) from Central States Inc. has formally closed. CST provides industry leading container and intermodal drayage services primarily within the Midwest region of the United States. CST also provides linehaul service within the airport-to-airport space as well as dedicated contract and Container Freight Station warehouse services.
Forward Air acquired CST for the aggregate purchase price of $95.6 million, which is approximately eight times 2013 adjusted EBITDA. The transaction is being funded by Forward Air's cash reserves and is expected to be accretive to its 2014 earnings. Learn More... 
Following a pattern of declines to finish 2013, the January edition of the Cass Freight Index Report from Cass Information Systems Inc. showed a pattern of more of the same, with sequential declines in freight shipments and expenditures from December to January.
The Cass Freight Index accurately measures trends in North American shipping activity based on $20 billion in paid freight expenses of roughly 350 of America’s largest shippers, according to Cass officials. Learn More... CHEP, the world's leading provider of pallet and container pooling solutions, has recently implemented a transportation management system (TMS) developed by CHEP's sister company LeanLogistics. LeanTMS offers significant benefits in visibility and control by providing real-time information across the entire transportation network. CHEP is using the system to continuously monitor the status of transporters and loads facilitating proactive communication with its customers in the event of any service issue. The system is already delivering a demonstrable positive impact on cost, service, levels of control and sustainability for both CHEP and its customers.
Learn More... Freightliner Trucks has surpassed 15,000 members for Team Run Smart. Team Run Smart is an open online community, offering a wealth of industry resources and helps owner-operators, company drivers and fleet managers advance in the business of trucking.
Launched at the Great American Truck Show (GATS) in 2012, Team Run Smart is accessible through a dedicated website, mobile site, Facebook, Twitter and YouTube. It features interactive industry tools that focus on everything from keeping operating costs low to staying healthier on the road. The community also includes contributions from third-party industry experts and a selected group of drivers named the "Team Run Smart Pros." The community fosters interaction with other trucking industry professionals. Learn More... 
Mondelēz International, who owns the old Kraft Foods plant in Northeast Philadelphia, has announced Thursday they will close in 2015.
The announcement means the loss of yet more jobs in the once-thriving snack industry. Learn More... More consumer spending and an uptick in corporate investment are expected to put more trucks on the road in 2014, experts in one of Inland Southern California’s most prolific industries say.
Bob Costello, the chief economist for the American Trucking Associations, the industry’s largest trade group, said in a recently published interview he is anticipating an increase of between 2.3 and 2.7 percent in the number of loads this year. That would continue a turnaround that started less than a year ago, Costello said. Last year, truckers saw steady work moving flatbed and tanker loads. The latter grew because of increased production in the energy sector. Learn More... One logistics provider, with the help of a railroad, is gearing up to take what may arguably be their best shot at trucking’s dominance when it comes to hauling refrigerated freight.
Transcold Express is expected to launch in May, according to DC Velocity, offering service between Wilmington, Ill., about 60 miles southwest of Chicago and the home of several "food parks," and Selma, Calif., just south of Fresno, where many table grapes and resulting raisins are produced. Learn More... 
Recently, there has been an increase in the number of trade publication articles on collaboration, which is understandable given the implementation of CSA, the new HOS rules, pending EOBR rules and other regulatory challenges. These changes are expected to have a growing negative drag on U.S. truck transportation productivity, capacity and rates. Collaboration is viewed as a viable approach to help offset this impact.
It is prudent to establish a baseline of what collaboration means. For this it is reasonable that we use CSCMP’s definition as representative: Collaboration: 1) Joint work and communication among people and systems - including business partners, suppliers, and customers - to achieve a common business goal. 2) A strategy for reducing per unit shipping costs by pooling shipments from multiple sources under an agreement between the shippers and the carriers. Examples of this method may include shippers who are otherwise competitors in their markets. The focus of this commentary is a combination of both definition concepts. Learn More... Campbell Soup Co. (CPB), Dean Foods Co. (DF), Kraft Foods Group Inc. (KRFT) and Mondelez International Inc. (MDLZ) are among the food and beverage companies poised to report their latest quarterly results next week.
Federal Reserve Chairwoman Janet Yellen is expected to deliver congressional testimony to House and Senate committees next week. Auction house rivals Christie's and Sotheby's both are planning to hold sales of postwar and contemporary art in London next week. Quarterly Results Due From Food and Beverage Companies Campbell Soup, Kraft and Mondelez are some of the top food makers expected to report results next week, and analysts surveyed by Thomson Reuters expect all three to report stronger profits. Top-line expectations are more mixed, as Wall Street sees small gains for Kraft and Mondelez but a 3% sales drop for Campbell. Learn More... Echo Global Logistics Inc. said its profit fell in the fourth quarter due to weak demand in November that only partially recovered in December.
Echo’s net income dropped to $2.7 million, or 12 cents a share, from $3.3 million, or 14 cents, a year earlier. Revenue increased 4.8% in the same period to $221.3 million. Learn More... |
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