Texas frac sand firm files for Chapter 11 bankruptcy
Frac sand firm Vista Proppants and Logistics filed for Chapter 11 bankruptcy protection on Tuesday, saying it has around $500 million in liabilities.
Frac sand firm Vista Proppants and Logistics filed for Chapter 11 bankruptcy protection on Tuesday, saying it has around $500 million in liabilities.
Guest commentator Eric Masotti writes about the importance of technology in logistics – but also underscores the importance of dedicated people to the process.
Tulsa-based Stone Trucking is shutting down its operations and laying off 51 employees. The company was a flatbed, oversize and heavy haul carrier.
Mass layoffs can help a company survive the coronavirus recession for the time being, but the damage will hurt its long-term prospects, United CEO Scott Kirby says.
The U.S. government’s emergency aid package was only a Band-Aid for protecting jobs. Airlines promised not to have involuntary layoffs for six months, but now American Airlines is paving the way for mass layoffs.
Fleet management solutions provider also raises $400 million in equity to help sustain operations during coronavirus downturn
Officials with Cardone said the layoffs were part of the “dramatic, sudden and unforeseeable negative business circumstances the company is suffering due to COVID-19 pandemic.”
United Airlines isn’t sugar-coating the airline industry’s economic reality. United expects to survive the coronavirus crisis, but business will be slim for months to come.
Digital freight brokerage Transfix laid off about 10% of its staff on Tuesday
Revenue and profits look bleak for second quarter, but leading engine maker Cummins surprised analysts with better-than-expected first-quarter revenue and profits.
Companies across the Lone Star State have made another wave of job cuts with 3,000 more workers losing their jobs.
Airlines and analysts are lowering expectations for a quick bounce back in business this summer because there still is so much uncertainty about the coronavirus.
Sources say TQL postponed the start date of nearly 200 of its 400 new hires, citing the economic downturn and COVID-19.
Companies with layoffs include Step Energy Solutions, Pioneer Frozen Foods, Zachary Industrial-LyndellBasell, Turner Industries and UTLX Manufacturing.
Order cancellations and only essential replacement bookings dropped new trailer orders to just 6,500 units in March. Separately, Wabash National announced a two-week suspension of production and cash-conservation moves.
TravelCenters of America is laying off more than 3,000 employees because its full-service restaurants are idle and stay-home orders keep most motorists off the highways.
Diminished railcar demand and COVID-19 headwinds force railcar maker to halt production and trim staff.
Two more significant companies in the trucking and transportation field have implemented layoffs and furloughs. In response to an email query from FreightWaves, Doug Waggoner, the CEO of Echo Global […]
Third-party logistics providers engaged in international trade are facing the difficult decision of whether to thin staff or even close altogether in the face of a prolonged economic downturn caused by the coronavirus pandemic.
More funds for loans could help protect small and midsize carriers from layoffs.
CEO Matt Pyatt said some industries served by Arrive are shipping less freight.
Truck component supplier Meritor idles plants and cuts base salaries up to 50% to save the ship from rough seas.
Zach Strickland and JP Hampstead talk about these uncertain times as volumes continue steady growth and tender rejections are up to 15%.
The latest news on the coronavirus impact on freight.
Blanked sailings blamed for two terminals scheduling one- and two-day suspensions of operations.
Approximately 30 former Lipsey Logistics employees say they were blindsided after they were called into a meeting and laid off without warning on Wednesday.
It’s a full red alert for the airline industry as the coronavirus crushes travel demand. Companies are racing to shore up their finances as revenues dry up.
Companies from all corners of the freight ecosystem are beginning to implement layoffs as an economic downturn starts to take hold.
And a small loadboard company gains hosannas for offering…five parking spots.
CLS has specialized in last mile delivery, expedited LTL, cross-border transportation, sprinter vans, box trucks and e-commerce fulfilment.
Anthony Levandowski still faces criminal charges after federal prosecutors allege he stole secrets about Google’s self-driving arm.
CEO John Babic says Canadian oil and gas services firm was trying to ride out a slowdown in spending in a struggling industry, but his lender ran out of patience.
Houston-based TPC Group will eliminate 100 jobs but work to restore production within five years at the Port Neches plant damaged during Nov. 27 explosions.
A skeleton crew remains after autonomous trucking startup Starsky Robotics fails to find a buyer or new investors, according to a former executive.
KeepTruckin is shutting down OPL after less than a year in order to create a neutral freight marketplace.
DHL has issued layoff notices for 134 workers in Detroit as it seeks to renegotiate a contract with a supplier. Also, Amazon ditches delivery providers, rail and intermodal volumes drops.
Delivery companies that don’t meet Amazon’s standards are being cut from its vendor list. Three got dismissed this week.
On today’s Valentine’s Day episode, we’re talking about two carrier shutdowns, Wayfair layoffs, and Celadon repo scams, more
Bear Down Logistics didn’t meet Amazon’s standards so Amazon cut ties.
XPO Logistics Inc. will lay off more than 300 workers at its Fort Worth distribution center in April, according to a notice filed with the Texas Workforce Commission TWC. According […]
North America propped up Daimler Trucks sales and earnings in 2019 as lower European and Asian volume, along with restructuring costs and settling emissions-cheating allegations dragged the industry leader’s results lower.
Terms of the court-protected restructuring of American Commercial Lines have already been agreed to and no disruptions are expected.
The layoffs close a chapter of freight brokerage in Chattanooga.
Authorities evacuate town of Guernsey, Saskatchewan, and close five-mile stretch of key Western Canada highway after morning accident involving CP train.
Engine maker Cummins already was predicting a difficult 2020 before the outbreak of the coronavirus in Wuhan, China, where Cummins’ manufacturing operations are shuttered.
Despite the first labor strike in 35 years and volatile orders for new trucks, Martin Weissburg says his current role as president of Mack Trucks is the favorite of his 15-year Volvo Group career.
Lawsuit claims Celadon collected and spent $6.2 million in receivables belonging to TA Express LLC, alleges the company admitted it was insolvent weeks prior to filing for bankruptcy protection.
DB Schenker, the freight transportation and contract logistics arm of German rail operator Deutsche Bahn AG, is the latest company to feel the downstream effects of the shutdown of Boeing […]
Ontario judge agrees to recognize Celadon’s Chapter 11 case and appoints trustee to supervise liquidation of Canadian assets.
Bankrupt Celadon Group Inc. canceled its Wednesday asset auction of Taylor Express after approving White Willow Holding’s $14.5 million bid.
Celadon Group plans to ask Canadian court to recognize its U.S. Chapter 11 case as judge takes further steps to lock down Hyndman Transport assets.
Amazon moves to take over Pinnacle Logistics air cargo operations in Baltimore, Maryland and Rockford, Illinois, where it will rehire 3,000 Pinnacle employees facing layoff.
Atlantic Canada trucking industry braces for the fallout as Nova Scotia pulp mill owner recasts closure as a deep sleep while company scrambles to find a solution for its waste product.
Borden Dairy Co. filed for Chapter 11 bankruptcy protection Jan. 5, blaming rising raw milk costs, reduced milk consumption and increased competition among non-dairy alternatives, including almond and soy milk.
New Class 8 truck orders dipped to their lowest level in a decade in 2019, payback for an ordering frenzy a year earlier.
Ohio-based GDS Express Group Inc. filed for bankruptcy protection after stranding drivers just days before Christmas.
Federal investigation into dismissals at Celadon Canadian subsidiary Hyndman Transport might give Ontario court pause before embracing Chapter 11 proceedings in the United States.
Employees’ and contractors’ struggles with Celadon-owned Hyndman over outstanding pay and questions about the fate of leased trucks are compounded by the lack of legal proceedings in Canada, but that could change.
A Canadian lawmaker criticized Celadon Group’s abrupt closure of Hyndman Transport, calling it a “footnote in their thought process.” Byran May, a Liberal federal member of Parliament whose Ontario district […]
Days after thousands of employees and truck drivers for Celadon Group Inc. received word that one of North America’s largest carriers was filing for Chapter 11 bankruptcy protection, many are still struggling to take in the news.
Celadon Group’s (OTC: CGIP) shutdown comes after cross-border shipping had already lost several other full truckload (TL) carriers this year that provided Mexico service. Matt Silver, founder and CEO of […]
225 employers have posted close to 500 jobs and counting.
The official announcement followed a chaotic weekend of credit, customer, and driver issues,
FreightWaves continues to follow the fallout at Celadon Group. The biggest bankruptcy in truckload history is expected any day. An internal source tells FreightWaves that Indianapolis based Celadon Group will […]
Carrier blames rocky freight market, bad lease deal for latest bankruptcy woes.
The billion-dollar truckload carrier’s failure is one of the largest in industry history.
Preliminary orders for new Class 8 trucks tumbled again in November after one month of improved bookings, new evidence that a slowing manufacturing economy is sapping all but critical replacement demand.
Daimler AG announced that it has reached an agreement with employee representatives to trim its workforce by at least 10,000 workers.
Engine maker Cummins will lay off 2,000 workers in the first quarter of 2020, the latest impact of a trucking sector recession that is claiming jobs up and down the supply chain.
Volvo Trucks North America will lay off about 700 workers in January, extending an industry pullback in production to match slowing orders of new Class 8 trucks.
Plus: Amazon takes a hit in Seattle; the first all-electric mobile health lab
The restructuring is keeping 2,500 jobs in place.
Caterpillar Inc. notified 120 workers at its Victoria, Texas, facility that they will no longer have a job effective, November 1. Company officials said “market conditions” are the reason for […]
Kenworth Truck Co. is finally satisfied that over-the-air software updates are safe for its trucks.
The United Auto Workers is ending its strike against Mack Trucks after 12 days. The first walkout in 35 years idled six facilities in three states and forced the layoff of 3,000 workers at Volvo Trucks only North American assembly plant.
Daimler AG reported high sales and earnings in the third quarter but is cautioning that tougher times lie ahead for its Mercedes-Benz car and Daimler Trucks businesses.
The owner of a Kentucky-based trucking company filed for bankruptcy protection following a slew of lawsuits filed after one of his drivers was convicted of causing a fatal crash that killed six people in June 2015.
The impact of a United Auto Workers’ strike at Mack Trucks will nearly double next week when Volvo Trucks North America lays off about 3,000 employees because of a lack of engines and transmissions that come from a Maryland plant the companies share.
Court filings show that FTI, the Canadian sibling of HVH, had more than C$18 million in debts including C$16 million to U.S. Bank in one of the country’s few documented trucking failures of 2019.
What the Truck?!? Is back in black this week as AC/DC’s Brian Johnson wins a race in Chattanooga, Goldman Sachs cuts 2020 transportation earnings, predatory pricing bungles box ships, air […]
Borderlands is a weekly rundown of developments in the world of United States-Mexico cross-border trucking and trade. This week: Halliburton lays off 650 oil and gas workers; DHL expands cross-border […]
Four of six major truck makers are reducing production line speed and/or laying off manufacturing workers. Market leader Daimler Trucks North America will cut 900 jobs in North Carolina on Oct. 14.
The United Auto Workers union strike against General Motors (GM) has forced GM to stop production at more factories across Mexico. General Motors announced it was shutting down its auto […]
Meritor, Inc. announced that it is laying off employees across the entire company in response to declining global truck and trailer demand.
On today’s episode, a carrier downsizes while another files for bankruptcy, Forever 21’s bad luck, the GM strike and this week’s Pricing Power Index. Plus, Emily Szink knows what’s a […]
As retailer prepares to close all 44 Canadian stories, court documents reveal transportation, logistics and customs providers that stand to lose business.
Truck drivers and employees for Rich Logistics, which is owned by Roadrunner Transportation Systems, were notified by letter on September 30 from the company’s president that it was closing five terminals and significantly reducing its workforce at five locations.
Cold Carriers was formed when KJM equity consolidated Gantt, Sunco, and Interide into a single operating portfolio.
U.S.-based Martin Transportation Systems temporarily lays off drivers at Windsor, Ontario, branch as strike hits cross-border routes between GM plants.
The NCBFAA proposes amending the U.S Bankruptcy Code to allow “subrogation” rights for customs brokers who have paid duties to the U.S. government on behalf of a bankrupt importer.
Class 8 truck manufacturers are beginning to pare production as the backlog of record orders from 2018 shrinks and new orders continue to be slow.
Two days after HVH Transportation’s abrupt closure on Tuesday, August 27, truck drivers like James Delva are still stranded across the country without working fuel cards.
2019’s unfavorable operating environment claims another truckload carrier.
The company itself is silent so far, but the union spelled out some of the developments.
Blackjewel’s bankruptcy reminds the broader industrial sector of the vulnerability of U.S. coal production overall, particularly so for western U.S. coal production.
The data on truck company failures is pointing to a rocky period for shutdowns, and the prospect of higher diesel prices isn’t going to help. That’s the message of Seth […]
Former truck drivers and employees of LME Inc., headquartered in Roseville, Minnesota, are still in shock two days after the company abruptly ceased operations without warning on July 11.
YRC’s CEO hints at more changes to come after it announces closing of its New Penn HQ
A Durham, North Carolina-based logistics company filed for Chapter 11 bankruptcy reorganization on June 13.