Good day,
Amazon’s [Nasdaq: AMZM] yearlong search for a second home has felt like something of a Goldilocks story. Finally, it seems the company couldn’t quite decide on a single location for its 50,000 promised employment opportunities, and so it has split the difference. According to two people briefed on the discussions (who asked not to be identified discussing non-public matters), the company is nearing a deal to move to the Long Island City neighborhood of Queens. Amazon is also close to a deal to move to the Crystal City area of Arlington, a Washington suburb—which according to the criteria FreightWaves had to work with at the time, we called months ago.
Long Island City boasts 8 subway lines, 13 bus lines, the East River Ferry, the Long Island Railroad, two bridges and a tunnel linking it with Manhattan. It’s also got quick access to LaGuardia and John F. Kennedy International airports. Crystal City sits across the Potomac River from Washington. The neighborhood features a concentration of high-rise offices, hotels, and residential buildings. It also boasts a strong public transit, and an educated work force.
Amazon has more employees in the two selected areas than anywhere else outside of Seattle, home of its main headquarters, and the San Francisco Bay Area, according to the New York Times.
Did you know?
Over three quarters (76%) of 450 global transport companies surveyed expect autonomous trucks to become a viable option on the roads within the next decade.
Quotable:
“Dark spots often exist between supply points on the chain, and not even necessarily because of a competitive advantage. The more cooperative the sharing, the better for everyone. It’s more cultural in nature. Breaking down the cultural barriers.”
—Jennifer Schopfer, VP and general manager of GE Transportation Transport Logistics
In other news:
China’s trade olive branch can’t dispel fears of clash with U.S.
A top Chinese official’s offer of trade talks with the U.S. on Tuesday did little to assuage concerns that the world’s two largest economies were headed for a confrontation that could disrupt the global order. (Bloomberg)
Iran says it is selling the oil it needs to, despite U.S. pressure
Iran said on Tuesday it had so far been able to sell as much oil as it needs despite U.S. pressure. (Reuters)
FedEx to raise shipping rates in January
Shipping rates for FedEx Express, FedEx Ground and FedEx Home Delivery will rise by an average 4.9% on most U.S. services. (WSJ)
Dubai’s DP World sues China over Djibouti trade zone
The Dubai operator is suing for the investment of state-owned port operator China Merchants and its role in acquiring a 23.5% stake in Djibouti’s state-owned port authority [PDSA]. (The Loadstar)
Sysco’s shares take hit as costs grow
Labor, transportation expenses hamper food distributor’s profit; stock pulls back sharply. (WSJ)
Final thoughts:
Annex II of the USMC agreement (and update to NAFTA) includes a Land Transportation section. The section doesn’t implicitly state that the U.S. would halt the current cross-border trucking program, which allows approved Mexican-based carriers to operate outside the current commercialized zone along the border, but it does seem to suggest that the U.S. could end the controversial program if it chooses.
Hammer down, everyone!