The Daily Dash is a quick look at what is happening in the freight ecosystem. In today’s edition, a short seller has laid out a blistering report on Nikola, suggesting the company is perpetrating a fraud on investors. Plus, Trimble has announced layoffs within its transportation business, hours-of-service changes could impact safety and YRC’s issues linger.
Not everything is as it seems
Nikola Corp. (NASDAQ: NKLA) has been a media and industry darling of late, but a report from a recognized short seller lays out a case that the company is really a house of cards.
Alan Adler has the details on why Hindenburg Research says the company is a fraud: Short seller publishes blistering takedown of Nikola
Trimble’s transportation segment hit by layoffs
Trimble has undertaken a round of layoff within its transportation business as the effects of COVID-19 combined with a change in business strategy have altered the company’s course.
Linda Baker explains what’s behind the layoffs: Layoffs hit Trimble’s transportation segment
Could further HOS changes impact safety?
A push by the Federal Motor Carrier Safety Administration (FMCSA) aimed at providing more flexibility for drivers operating under hours-of-service regulations could also boost capacity for fleets but might come at the expense of safety.
John Gallagher explains why this might also be bad for drivers: Split-duty rest break: A lever for boosting capacity?
YRC troubles linger
While most of the industry is experiencing rate growth and tonnage increases, troubled less-than-truckload carrier YRC Worldwide (NASDAQ: YRCW) remains an outlier, announcing continued deterioration of its freight volumes.
Todd Maiden explains how bad it is getting: YRC Q3 update bucks improving industry trends
Stories we think you’ll like:
Did you miss this?
Every corporate partnership has a backstory of how it came to be. The Nikola Corp. and General Motors tie-up announced Tuesday is no different. From electric pickups to fuel cells, the deal made sense if the parties could agree.
Alan Adler has the inside story of how the partnership came to be: Behind the scenes: How the GM-Nikola tie-up came together
Hammer down, everyone,