business

TA earnings reflect improved market for truck stops in Q2

The earnings of Travelcenters of America showed significant improvement in most categories for the second quarter in comparison to 2020’s second quarter, when truck stops were rapidly adjusting to wildly swinging changes in their business because of the pandemic.

The rate of growth at TA (NASDAQ: TA) in 2021 compared to 2020 generally landed in the 20% to 25% range. For example, diesel fuel sales measured in volume were 21.2% more than last year. Nonfuel revenues from stores and retail services...

https://www.freightwaves.com/news/ta-earnings-reflect-improved-market-for-truck-stops-in-q2

Omnitracs’ layoffs and product concerns are nothing new, source says

Tensions are still high among employees and executives at risk and asset management solutions provider Solera and its newly acquired companies Omnitracs and DealerSocket.

After approximately 30% of employees at Omnitracs, a fleet telematics company, and DealerSocket, an automotive SaaS provider, were laid off or given notice they would be laid off on Oct. 22, remaining employees and executives face an uncertain future.

According to a former Omnitracs human resources employee, this uneasy working...

https://www.freightwaves.com/news/omnitracs-layoffs-and-product-concerns-are-nothing-new-source-says

A&R acquires RJ’s to scale liquid services along Gulf Coast

In 2020, A&R Logistics acquired First Choice Logistics and L.T. Harnett in an effort to scale its liquid chemical supply chain services. 

Continuing that strategy, the Woodlands, Texas-based logistics company recently announced it had purchased liquid bulk services provider RJ’s Transportation for an undisclosed amount.

“Creating a liquid logistics service line of scale was a critical element of A&R’s value creation plan,” said Konrad Salaber, managing director at Wind Point Partners, an equity...

https://www.freightwaves.com/news/ar-acquires-rjs-to-scale-liquid-services-along-gulf-coast

FreightWaves Classics: Port of Mobile is a key Gulf Coast port

An aerial view of the Port of Mobile. (Photo: Alabama State Port Authority)

The ports of the United States are our nation’s windows to the rest of the world. Imports and exports flow through them daily, helping maintain the world’s largest economy. 

A key Gulf Coast port is located in Mobile, Alabama. It is one of the top 20 U.S. ports by volume. Located along the Mobile River where it empties into Mobile Bay, the Port of Mobile has  deepwater terminals with direct access to 1,500 miles of inland and intracoastal waterways. These waterways serve the Great Lakes, the...

https://www.freightwaves.com/news/freightwaves-classics-port-of-mobile-is-a-key-gulf-coast-port

$92M Werner verdict from 2018 becomes a hot potato on appeal

A nuclear verdict handed down against Werner Enterprises in 2018 has set off a dispute within a Texas appellate court as the truckload carrier appeals the more than $90 million award.

There is no immediate impact from the decision of the Texas 14th Court of Appeals that Werner’s (NASDAQ: WERN) appeal should be heard en banc, which would be a larger panel than the three-judge panel of the same court that originally heard the appeal but never published its ruling.

While questions about whether the...

https://www.freightwaves.com/news/92m-werner-verdict-from-2018-becomes-a-hot-potato-on-appeal

Square to acquire buy-now, pay-later firm Afterpay in $29B stock transaction

Payments services provider Square (NYSE: SQ) announced on Sunday night that it was acquiring Afterpay for approximately $29 billion in stock. The deal is an all-stock transaction, with Square acquiring all the issued shares of Afterpay, pending a court-approved “Scheme of Arrangement.”

A Scheme of Arrangement is a U.K. court mechanism under which U.S. companies can enter arrangements with shareholders and/or creditors. It is frequently used when a takeover happens.

Square stock was up more than...

https://www.freightwaves.com/news/square-to-acquire-buy-now-pay-later-firm-afterpay-in-a-29b-stock-transaction

Instant delivery company Gopuff reaches $15B valuation

Four months after raising $1.2 billion, instant delivery application Gopuff announced it has closed on a Series H round for $1 billion, reaching a $15 billion valuation.

The round was led by new investor Blackstone’s Horizons platform and its previous investor Fidelity Management and Research Co. Participants in the round included previous investors Softbank Vision Fund 1, Atreides Management and Eldridge Capital, and new investors Guggenheim Investments, Hedosophia, MSD Capital and Adage...

https://www.freightwaves.com/news/instant-delivery-company-gopuff-reaches-15b-valuation

FreightWaves Classics: Port of Philadelphia has served region for 300+ years

The Port of Philadelphia. (Photo: PhilaPort)

Like several major U.S. ports on the nation’s East Coast, Philadelphia has been a center of international commerce for over 300 years. 

Today, the Port of Philadelphia (PhilaPort) has a leading position in several areas of trade. These include the importation of “perishable cargoes from South America, high-quality paper products from Scandinavia, and premium meat from Australia and New Zealand.”

Early history

William Penn was the founder of Philadelphia and the Commonwealth of Pennsylvania is...

https://www.freightwaves.com/news/freightwaves-classics-port-of-philadelphia-has-served-region-for-300-years

BlueGrace, Trucker Tools spotlight benefit of FreighTech partnerships

Implementing carrier-focused technology in a logistics company comes down to one deciding factor: How sticky is that product?

The stickiness of an application is determined by its ability to recruit, retain and engage a user, actions that are easier said than done as freight heavy hitters like UberFreight, Flock Freight, Convoy and Loadsmart enter the logistics industry as digital players on day one.

With over two decades in logistics, BlueGrace COO Mark Ford simplifies the problem he has...

https://www.freightwaves.com/news/bluegrace-trucker-tools-spotlight-benefit-of-freightech-partnerships

FreightWaves Classics: Fallen Flags – Denver & Rio Grande Western Railroad (Part 2)

The modern Denver & Rio Grande Western Railroad 

There are many people interested in former transportation companies, whether they were trucking companies, railroads, airlines or ocean lines. They are called “fallen flags,” and the term describes those companies whose corporate names have been dissolved through merger, bankruptcy or liquidation.

A D&RGW publicity photo from 1952. (Photo: D&RGW)

This FreightWaves Classics article provides Part 2 of an overview of another fallen flag railroad – the...

https://www.freightwaves.com/news/freightwaves-classics-fallen-flags-denver-rio-grande-western-railroad-part-2

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