As Amazon.com works to speed orders to customer doorsteps before Christmas, the e-commerce giant is touting an accomplishment that would have seemed absurd just a few years ago: Amazon is now its own biggest carrier.
December 19, 2019BusinessLogisticsTop 100
FedEx’s Q2 Earnings Tumble, Even More Than Wall Street Expected
FedEx Corp. reported lower-than-expected second-quarter fiscal year 2020 earnings Dec. 17, missing Wall Street analysts’ expectations.
December 17, 2019GovernmentBusinessTop 100
Bankruptcy Judge OKs Plan to Keep Celadon’s Taylor Express Operating
Celadon Group has been authorized by a bankruptcy court to spend $1.2 million before Jan. 3, 2020, to maintain operations for Hope Mills, N.C.-based Taylor Express Inc. — the last of its operating units that is still in business — while it pursues a sale of the company.
December 16, 2019BusinessLogisticsTop 100
Amazon Cuts Off FedEx Ground for Prime Shipments This Holiday
Amazon.com says FedEx Corp.’s delivery performance is slipping and will no longer let third-party merchants use the company’s ground delivery network for quick Prime shipments through the holidays.
December 16, 2019BusinessTechnologyTop 100
Mesilla Valley Transportation to Use VeloCare for Technology Deployment
Mesilla Valley Transportation will begin using VeloCare, a technology-monitoring and repair service by Velociti Inc.
December 16, 2019BusinessLogisticsTop 100
Forward Air to Acquire Linn Star for $57.2 Million
Forward Air Corp. will acquire Linn Star Holdings Inc., Linn Star Transfer Inc. and Linn Star Logistics, a privately held final-mile provider, for $57.2 million, according to a Forward Air news release Dec. 12.
December 16, 2019
GovernmentBusinessBreaking NewsTop 100
Celadon Files for Bankruptcy, Shuts Down
Celadon Group Inc. is filing for bankruptcy and shutting down immediately amid falling freight rates and the effects of penalties levied by the U.S. Department of Justice for settlement of securities fraud charges brought against prior management.
December 9, 2019GovernmentBusinessTop 100
Two Former Celadon Executives Charged in Fraud Scheme
The Securities and Exchange Commission and federal prosecutors on Dec. 5 charged two former top executives of Indianapolis-based trucking company Celadon Group Inc. for their participation in an accounting fraud in 2016 and 2017 that allegedly inflated the company’s income and earnings per share.
December 5, 2019BusinessTop 100
Class 8 Orders Slump for Weakest November Since 2015
Preliminary North American Class 8 net orders for November passed 17,000 and hit the second-highest point reached this year, but analysts at two data-tracking firms said it did nothing to alter the slumping direction of the overall trend.
December 5, 2019