business

FreightWaves Classics/Fallen Flags: James Hill built the Great Northern Railway into a powerhouse (Part 1)

Great Northern locomotives lead new 40-foot boxcars near Minneapolis in 1959. (Photo: Adam Burns Collection/American-Rails.com)

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

The Great Northern Railway (GN) employed thousands of people, but it was really the product of one man – James Jerome Hill. Known as the “Empire Builder,” over nearly 40 years Hill put together...

https://www.freightwaves.com/news/freightwaves-classics-fallen-flags-james-hill-built-the-great-northern-railway-into-a-powerhouse-part-1

Logicbroker raises $135 million to enhance drop shipping capability

Logicbroker completes $135 million raise to enhance its drop ship technology

Cloud-based e-commerce platform Logicbroker on Tuesday secured a massive $135 million funding raise led by K1 Investment Management. The Connecticut-based company plans to expand its full-function drop ship and marketplace services, which it offers to suppliers, retailers, brands and 3PLs alike.

Logistics is no longer just an expense for businesses — it’s a revenue driver. Whereas in the past companies viewed logistics simply as a tool for moving and delivering goods, they now see logistical...

https://www.freightwaves.com/news/logicbroker-raises-135-million-to-enhance-drop-shipping-capability

Ryder buying Midwest warehouse company, giving it multi-client capabilty

Ryder System made two announcements Wednesday morning, one expected and the other some news.

In addition to announcing record third-quarter earnings, Ryder (NYSE: R) said it was acquiring Midwest Warehouse & Distribution System. 

According to the company’s prepared statement on the acquisition, Midwest has nine multiclient warehouses and eight dedicated-customer warehouses. It described its area of activity as five regions, primarily in Chicago “and to a lesser extent” New York, Pennsylvania,...

https://www.freightwaves.com/news/ryder-buying-midwest-warehouse-company-giving-it-multi-client-capabilty

C.H. Robinson smashes estimates, takes advantage of constrained environment

C.H. Robinson posted third-quarter adjusted earnings per share of $1.85, easily beating the Street’s consensus estimate of $1.42 a share, up 85% year-over-year (y/y). Gross revenue for the third quarter totaled $6.3 billion, up 48.3% y/y driven by higher pricing and volume across most of Robinson’s services.

Robinson (NASDAQ: CHRW), the leading North American nonasset third-party logistics provider, reported its financial and operating results for the third quarter of 2021 on Tuesday after...

https://www.freightwaves.com/news/ch-robinson-smashes-estimates-takes-advantage-of-constrained-environment

BlueGrace’s Detroit office to facilitate managed services growth with local talent

Between customer demand for electric vehicles, chip shortages, and environmental, social and governance initiatives, the already complicated automotive supply chain has gone through a whirlwind of changes — changes likely to cost the industry north of $100 billion in revenue in 2021.

For third-party logistics provider BlueGrace Logistics, these generational changes to the automotive supply chain influenced the decision to open its 11th office last week in Detroit to serve as a “control tower”...

https://www.freightwaves.com/news/bluegraces-detroit-office-to-facilitate-managed-services-growth-with-local-talent

FreightWavesTV streamed on a new and upgraded platform

A screenshot from FWTV showing a number of shows available to a viewer.

Virtual streaming just became much better. FreightWavesTV is streaming from a sleek, interactive platform. To ensure a smooth transition, check out what’s next and what to expect. 

“With the cancellations of live events and a higher percentage of the workforce than ever before working remotely, FreightWavesTV stepped in and provided the news and market information the freight industry needed to navigate these turbulent freight markets,” Kevin Hill, Executive Producer at FreightWaves. “Over the...

https://www.freightwaves.com/news/freightwavestv-and-live-events-to-stream-on-a-new-platform

FreightWaves Classics: Erie Canal opened 196 years ago

Along the Erie Canal. (Photo: National Park Service)

This FreightWaves Classics article celebrates the opening of the Erie Canal on this date in 1825. Before giving details about the Erie Canal, though, an overview of North American canals is provided. 

Why canals?

A number of successful canals had been built in Europe and Great Britain. Therefore, during the late 1700s and early 1800s, canal construction was considered in order to improve inland transportation in the Northeast and mid-Atlantic areas of the United States. At that time, geography...

https://www.freightwaves.com/news/freightwaves-classics-erie-canal-opened-196-years-ago

FreightWaves Classics/Pioneers: John Willys influenced the auto industry for decades

A 1963 Willys FC-150 work truck. (Photo: Wikimedia Commons))

From bicycles to cars

An advertisement for the Overland Six. (Image: periodpaper.com)An advertisement for the Overland Six. (Image: periodpaper.com)

On this date in 1873, John North Willys, a “leading automobile industrialist,” was born in Canandaigua, New York. He began his career selling bicycles and was quite successful – by 1900 (when he was only 27) he had sold more than $500,000 in bicycles. However, when Willys (pronounced Will-is) saw his first automobile he realized that autos would supplant bicycles as the primary mode of personal...

https://www.freightwaves.com/news/freightwaves-classics-pioneers-john-willys-influenced-the-auto-industry-for-decades

Descartes MacroPoint and FreightWaves SONAR integrated to deliver advanced transportation capacity management solution

Travis Rhyan, FreightWaves' Chief Product Officer, explains SONAR functionality. (Photo: FreightWaves)

Descartes Systems Group (Nasdaq: DSGX) (TSX:DSG), the global leader in uniting logistics-intensive businesses in commerce, and FreightWaves, an industry-leading provider of data, analytics and news for global supply chains and logistics, announced that FreightWaves SONAR Lane Score data is now available in the Descartes MacroPoint Capacity network. The combination provides freight brokers with a single solution to see available capacity and market pricing intelligence per transportation lane.

“...

https://www.freightwaves.com/news/descartes-macropoint-and-freightwaves-sonar-integrated-to-deliver-advanced-transportation-capacity-management-solution

Triumph’s Graft: The concept is proved; on to producing revenue at TriumphPay

With another quarter under Triumph Bancorp’s belt, CEO Aaron Graft gave the world an update on the company’s plans to dominate the processing of factored payments.

The metrics poured out during a call with analysts. While a year ago, the focus of its analyst call might have been how Triumph Business Capital, its factoring arm, was performing, now the attention is overwhelmingly on TriumphPay, its rapidly expanding operation to process factored brokerage freight. Triumph Bancorp (NASDAQ: TBK) boug...

https://www.freightwaves.com/news/triumphs-graft-the-concept-is-proved-on-to-producing-revenue-at-triumphpay

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