Ex-Slync CEO Christopher Kirchner was found guilty Thursday of four counts of wire fraud and seven counts of money laundering following a four-day jury trial in the U.S. District Court for the Northern District in Fort Worth, Texas.
The freight market downturn has made profitability elusive.
Will new leadership be enough to save the FreightTech company?
Despite Slync.io CEO Chris Kirchner’s claims that the FreightTech company “has solved its liquidity issues,” former and current employees say they want him to make good on his promises and pay them for the two months of wages they are owed.
The current roster of FreightTech unicorns is made up of established companies run by veterans and backed by smart money.
Amazon-backed EV maker Rivian makes big news with a public stock offer and beating its rivals to market with the first-ever electric pickup, the R1T.
Chinese ride-hailing giant Didi has filed paperwork with the SEC for an IPO on a major U.S. stock exchange.
E-commerce technology company Stackline announced a $130 million investment from TA Associates to fund additional technology development.
Project44 attributes its exponential growth, like its 135% year-over-year new bookings growth in Q1, to its skilled global team.
JD Logistics’ network has the ability to deliver 90% of orders within the same or next day to 99% of mainland China.
JD.com’s logistics spinoff is rumored to list in Hong Kong by the end of the month.
Uber’s stock dips on a report that Goldman Sachs is looking to unload 38 million shares. The company has made several moves recently to shore up the balance sheet and sustain its cash-intensive brokerage segment.
Elion controls more than 3 million square feet of urban land.
Online sales depend heavily on a robust industrial real estate infrastructure.
Deutsche Post World has lowered its guidance for the year and cited Amazon’s continuing insourcing of logistics as a major reason. Plus, Goldman Sachs is predicting a 5% contraction in the economy, labor shortages could hamper restocking of shelves, and the Fed slashes interest rates.
Passenger and freight traffic showed big declines this month in certain regions. Airports and airlines are moving to right-size operations to the downmarket caused by the coronavirus.
Analysts now want CHRW to cut costs.
Now Goldman thinks that ISM data won’t turn positive until Q2 2020.
CHRW grew net income by 6.3% but increasing earnings per share by 8% with buybacks.
Jordan Alliger rated UPS, FedEx, and J.B. Hunt ‘Buy’; XPO and C.H. Robinson ‘Neutral’; and Expeditors ‘Sell.’
We’ve heard reports that Vista is having trouble getting buyers at its $2 billion price tag for Omnitracs.
The European Union has submitted a proposal for consideration at next month’s Marine Environment Protection Committee meeting at the IMO that will bring consistency to reporting on the use of low sulphur fuels encouraging shipping companies to comply with the new regulation.
Trucking-as-a-service is poised to break out into 5x growth over the next five years, says Frost & Sullivan.
A Goldman Sachs report several months ago laid out the strengths of the app that matches loads, but does a lot more than that.
McKinsey, Goldman Sachs, Stifel Nicolaus, and Susquehanna are all in agreement that technology and data are critical for driving productivity in transportation and logistics companies. We survey recent research by the firms.
XPO stock dragged down by soft Q3 results, M&A impatience.
Massive scale, cyclical and structural advantages, and best-in-class technology make C.H. Robinson a ‘buy’ despite a transports selloff, say analysts at Stifel and Goldman Sachs.
The investment bank issued a report this morning calling for one more spot rate peak in the fourth quarter, followed by a softer 2019 that should still be 12% above the 2012-7 cycle. New price targets were also issued.
A tanker barge operator, a Jones Act steamship line, and North America’s largest 3PL all posted big gains on the day, leading Dow Transports to a record intraday high against a softening broader equities market.
Goldman Sachs issued a report last week highlighting the risks to incumbent brokerages’ margins and market shares, with useful information about the brokerage landscape and recent developments in VC funding that have powered new entrants.
Musk’s Twitter habit has gotten him into serious trouble—he’s either manipulating TSLA stock on false information or given up all his leverage in a Saudi buyout negotiation.
Earnings season is here; UPS posts 13th quarter of double digit growth; Knight-Swift finds synergies; Maersk trials autonomous ships; the Mustang is the last Ford car left; Barclays and Goldman Sachs collab on data standards for derivatives and blockchain; Union Pacific beats the Street.
Headlines are declaring the death of the truck driver at the hands of the autonomous truck. But what if that doesn’t happen? Looking deeper into reports of job losses finds that significant impacts are likely 20 years away – if at all.
