Today’s Pickup: Daseke offers employees company stock

Daseke flatbed

Flatbed hauler Daseke has decided to put some stock in its employees – literally. The publicly held company announced it will set aside 1 million shares of common stock with a current value of $9.9 million for employees. Restricted stock units will be awarded to the approximate 2,100 company drivers and 800 support team employees who are employed by Daseke operating companies, or who were with a Daseke company in 2016, the company said.

Stock grants will also be made to company drivers and support team employees who joined or will join a Daseke company in 2017. 

“I’ve said from day one that people make the difference – we invest in people. In our industry, professional truck drivers truly are the heart and soul of everything we do,” said Don Daseke, president and CEO of Daseke.

“We want professional truck drivers and all our support team employees to have ownership in Daseke. To our knowledge, we are the first public for-hire trucking company to have a program that makes professional truck drivers company shareholders,” said Don Daseke, president and CEO. “It’s very exciting for me personally. A driver stock program is something I have been passionate about from the very beginning. This is about being an owner. We want people to come together, be empowered and build our company with the mindset of ownership.”

Did you know?

According to a survey conducted by One20, truck drivers pay an average of 37% more for goods at travel centers than they would if those same items were purchased online.

Quotable:

“I’ve said from day one that people make the difference – we invest in people. In our industry, professional truck drivers truly are the heart and soul of everything we do.”

- Don Daseke, president and CEO of Daseke, on the reason for implementing an employee stock program

In other news:

UPS tops list of largest transportation companies

Forbes magazine has released its list of the world’s largest transportation companies. No surprise, with over $61 billion in revenue, UPS tops the list, which also includes railroads and airlines, although three of the top five are package delivery companies. (Forbes)

More drones than anticipated?

A leading expert on drones testified this week on Capital Hill, predicting that 1 million drones could be in use within 20 years delivering packages. (Fleet Owner)

Logistics provider Flexport expanding

Flexport, a quickly growing global logistics provider, has announced it will build a global warehouse network, starting with facilities in Los Angeles and Hong Kong. (Lloyd’s Loading List)

Roadrunner Transportation relocating

Roadrunner Transportation has named a new CFO and announced that it is relocating its corporate headquarters from Wisconsin to Illinois as part of a restructuring. (Journal of Commerce)

Class action status denied in suit against Swift

A judge in California has denied class action status for a lawsuit against Swift Transportation. The suit alleges the company is denying drivers California-required breaks. (Law360)

Daseke is trying to engage employees through a stock ownership plan, but it’s important for every business to remember that it’s the people that make the business.

Hammer down everyone!