business

UP explains absence from early contract agreements with organized labor

This story originally ran in Trains.com.

As BNSF Railway, CSX and Norfolk Southern continue to sign tentative contract agreements with their labor unions well in advance of the start of national negotiations, one U.S. Class I railroad has been conspicuously absent: Union Pacific.

UP executives explained on Thursday that – unlike the other railroads – it is seeking to modernize work rules as part of its contract talks.

“Some of the other railroads have started to enter into labor agreements with...

https://www.freightwaves.com/news/up-explains-absence-from-early-contract-agreements-with-organized-labor

Marten, citing weak freight market, cuts base salaries of 6 top executives

Marten Transport has cut the salaries of six key executives while keeping their other compensation intact.

In a filing with the Securities and Exchange Commission, the truckload carrier said it had reduced the salaries of four executives by 7.5%. The four are Randolph Marten, executive chairman; CEO Timothy Kohl; James Hinnendael, CFO and executive vice president; and President Douglas Petit.

Chief Operating Officer Adam Phillips’ salary was cut by 5%, as was that of Executive Vice President and...

https://www.freightwaves.com/news/marten-citing-weak-freight-market-cuts-base-salaries-of-6-top-executives

Election will revamp loophole that lets lower-value imports avoid scrutiny

The views expressed here are solely those of the author and do not necessarily represent the views of FreightWaves or its affiliates.

By Maggie M. Barnett – CEO, LVK

Regardless of who wins the U.S. presidential election in November, consumers and e-commerce companies can expect to see changes to Section 321 of the Trade Facilitation and Trade Enforcement Act. While some have heralded it as an essential growth factor for the U.S. direct-to-consumer market, many others, including politicians in...

https://www.freightwaves.com/news/election-will-revamp-loophole-that-lets-lower-value-imports-avoid-scrutiny

Boeing furloughs workers as strike halts key programs in Pacific Northwest

Two days after announcing a hiring freeze, Boeing has notified employees it will be moving forward with furloughs over the coming days.

This comes after over 30,000 workers with the International Association of Machinists and Aerospace Workers (IAM) rejected a contract renewal with the company and went on strike last week.

The furloughs were anticipated earlier this week as the aerospace company attempts to stop the financial bleeding caused by the strikes. A Bloomberg Intelligence analysis...

https://www.freightwaves.com/news/boeing-furloughs-workers-as-strike-halts-key-programs-in-pacific-northwest

Fireside Chat: Leveraging tech to improve perishable food inventory management

This fireside chat recap is from FreightWaves’ 3PL Summit on Wednesday.

FIRESIDE CHAT TOPIC: The technology that keeps food fresh while lowering emissions.

DETAILS: In this fireside chat, Oria Malka, vice president of sales at Evigence, talks about how Evigence is helping companies reduce their carbon footprint through food freshness tracking technology.

KEY QUOTES FROM MALKA:

“[Our sensors] mimic the degradation of any perishable products. What we currently do is actually combine sensors with data...

https://www.freightwaves.com/news/fireside-chat-leveraging-tech-to-improve-perishable-food-inventory-management

Fireside Chat: Sami Khan talks misconceptions about electric vehicles

This fireside chat recap is from FreightWaves’ Net-Zero Carbon Summit on Wednesday.

FIRESIDE CHAT TOPIC: Misconceptions about EVs

DETAILS: Sami Khan, co-founder and CEO of all-electric trucking company Nevoya, shares insights with FreightWaves Deputy Editor Brielle Jaekel to dispel myths around electric vehicles.

KEY QUOTES FROM SAMI KHAN:

“The problem is people, understandably, they look at the retail price of these assets and they get sticker shock when they see a vehicle that is often – for the...

https://www.freightwaves.com/news/fireside-chat-sami-khan-talks-misconceptions-about-electric-vehicles

Members of Congress call for establishing center to fight retail crime

In response to the rising threat of organized retail crime, U.S. Rep. Dave Joyce, R-Ohio, recently led a bipartisan initiative urging the Department of Homeland Security to intensify its efforts in combating these sophisticated criminal enterprises.

A letter sent last week, signed by a diverse group of 85 lawmakers and addressed to acting Director Patrick Lechleitner of U.S. Immigration and Customs Enforcement and Executive Associate Director Katrina Berger of Homeland Security Investigations...

https://www.freightwaves.com/news/members-of-congress-call-for-establishing-center-to-fight-retail-crime

COVID aftershocks still imperil freight companies

The views expressed here are solely those of the author and do not necessarily represent the views of FreightWaves or its affiliates.

By Jim Case, CEO of Travelers Financial Group

From all perspectives, COVID was tough on the freight industry. Millions of people across the globe lost their jobs in the economic downturn and the resulting plunging global demand for goods. At the same time, travel and transportation turmoil, consumer hoarding, and seismic shifts in buying behavior driven by the...

https://www.freightwaves.com/news/covid-aftershocks-still-imperil-freight-companies

Trimble and Platform Science pushed hard to get deal done before Vegas meeting

LAS VEGAS – The unveiling of the combination of Trimble’s telematics business and venture capital-backed Platform Science in parallel with Trimble’s annual customer meeting in Las Vegas wasn’t coincidence. It was sort of the point.

The transaction was announced Sunday, the first day of events tied to Insight. The Trimble technology conference brings in thousands of representatives from its customers, particularly from carriers.

“We oriented so much of our work these last weeks and months to get...

https://www.freightwaves.com/news/trimble-and-platform-science-pushed-hard-to-get-deal-done-before-vegas-meeting

Boeing freezes hiring, considers furloughs as strike could cost $3.5B

Boeing has notified employees of a hiring freeze and is considering furloughs in the coming weeks as experts predict significant cash loss for the company this quarter due to an ongoing machinist strike.

Over 30,000 machinists and aerospace workers at the company walked off the job Friday after a large majority of them rejected a tentative contract. A Bloomberg Intelligence analysis predicted Monday that Boeing could be out $3.5 billion in cash in Q3 if the strike continues through September.

Acco...

https://www.freightwaves.com/news/boeing-freezes-hiring-considers-furloughs-as-strike-could-cost-3-5b

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