Ryder continues shift toward less reliance on leasing, talks up Cardinal

Ryder System’s fourth quarter saw the continued rise of its Supply Chain Solutions (SCS) segment as a growing contributor to revenue and profitability, with used vehicle sales hurting the performance of its signature Fleet Management Solutions (FMS) vehicle leasing division. 

In prepared remarks released with the earnings, CEO Robert Sanchez, who has been leading the push to have FMS account for a declining percentage of the Ryder business while SCS and Dedicated Transportation Solutions (DTS)...

https://www.freightwaves.com/news/ryder-continues-shift-toward-less-reliance-on-leasing-talks-up-cardinal

Ryder buys Cardinal Logistics, which dwarfs its current dedicated business 

googletag.cmd.push(function() { var gptSlot = googletag.defineSlot(‘/21776187881/FW-Responsive-Main_Content-Slot1’, [[728, 90], [468, 60], [300, 100], [320, 50]], ‘div-gpt-ad-b1-i-fw-ad-4’).defineSizeMapping(gptSizeMaps.banner1).setCollapseEmptyDiv(true).addService(googletag.pubads());
gptAdSlots.push(gptSlot);
});

googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-b1-i-fw-ad-4’); });

Ryder System is dramatically growing its dedicated transportation services operations with the...

https://www.freightwaves.com/news/ryder-buys-cardinal-logistics-which-dwarfs-its-current-dedicated-business

The Daily Dash: Lost opportunity for J.B. Hunt

The Daily Dash is a quick look at what is happening in the freight ecosystem. In today’s edition, congestion played a role in J.B. Hunt Transport Services posting a worse year-over-year intermodal margin growth than expected. Plus, even preparation sometimes isn’t enough to stop a ransomware attack, and business-to-business activity has rebounded well from early 2020.

Lost opportunity

Congestion and gate restrictions from rail partners hampered J.B. Hunt Transport Services’ (NASDAQ: JBHT) Q4...

https://www.freightwaves.com/news/the-daily-dash-lost-opportunity-for-jb-hunt

Cardinal Logistics acquires final-mile provider NRX

Deal will nearly double Cardinal's annual final-mile deliveries

Transportation and logistics provider Cardinal Logistics announced Wednesday that it acquired last-mile delivery provider NRX Logistics.

The deal is expected to nearly double Cardinal’s annual final-mile deliveries to approximately 1.1 million. It also expands its high-touch delivery capabilities of heavy goods like furniture, appliances, bedding and exercise equipment.

Financial terms of the transaction were not disclosed. NRX generated $35 million in annual revenue prior to the announcement.

“Thi...

https://www.freightwaves.com/news/cardinal-logistics-acquires-final-mile-provider-nrx

Hackers leak data from trucking firm Cardinal Logistics

A Cardinal Logistics tractor-trailer on a road. Hackers recently leaked data stolen from the trucking company.

A ransomware gang has posted data stolen from Cardinal Logistics Management, a North Carolina trucking and logistics firm with a fleet of over 3,100 power units specializing in dedicated transportation services.

Cardinal Logistics would not confirm to FreightWaves that it had been targeted in a ransomware attack, calling the incident a “data event.” Private equity firm H.I.G. Capital, Cardinal’s owner since 2019, did not respond to a request for comment.

The data leak appeared on REvil hacking...

https://www.freightwaves.com/news/hackers-leak-data-from-trucking-firm-cardinal-logistics

Commentary: The power of control

roof trusses loaded with forklift

Note: In the case of Edwards v. Cardinal Trucking, Inc., the U.S. Court of Appeals for the 4th Circuit addressed whether a jury instruction was proper and whether the verdict rendered was against the weight of the evidence. However, the true “heart” of the case centered around the issue of whether Cardinal had the power of control over a co-defendant. This commentary focuses on the power of control and what factors are considered by courts when a party’s status as an independent contractor is...

https://s29755.pcdn.co/news/commentary:-the-power-of-control

Join Our Newsletter
Enter your email to receive a weekly round-up of shipping news.
icon