WTI Transport was founded in Tuscaloosa, Alabama in 1989 as Wellborn Transport Company by Stephen Rumsey and Miller Wellborn. The company began with a fleet of 12 trucks driven by owner-operators, as well as a card table and a ledger to keep track of financial transactions. Now, under the name WTI Transport, the company is one of the largest and most successful flatbed haulers in the Southeast.
Acquired by Boyd Brothers Transportation
In December 1997, Boyd Brothers Transportation acquired...
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 opportunityCongestion 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
The Daily Dash is a quick look at what is happening in the freight ecosystem. In today’s edition, Heartland Express has kicked off the Q4 earnings season, posting an improvement in operating income. Plus, an appeals court said California can’t supersede FMCSA regulations on hours of service, and Daseke’s board chairman talks the future of the company.
Earnings season kicks offThe first truckload carrier to announce Q4 earnings reported a slight year-over-year decline in revenue but improvement...
Over halfway through January, retail sales and imports continue to grow
Headlines
FreightWaves’ Greg Miller reports on the exorbitant growth in import activity as container spot rates remain high and freight volumes are expected to stay elevated in the coming months.
Infrastructure is high on the priority list for the incoming administration, and President-elect Joe Biden plans to roll out his Build Back Better recovery plan during the first joint session of Congress. This plan may directly...
https://www.freightwaves.com/news/imports-and-infrastructure-are-top-priority-midday-market-update
FreightWaves had a chance to catch up with management at flatbed truckload company Daseke (NASDAQ: DSKE) following recently announced changes to the board and the resignation of its CEO Chris Easter.
Easter, who was helping navigate the company’s multi-phased turnaround, resigned effective Dec. 31 to attend to family-related obligations.
Change at the top but the path remains the sameDaseke Chairman Brian Bonner said that even though Easter will be...
https://www.freightwaves.com/news/new-daseke-management-discusses-recent-changes-acquisition-plans
The Daily Dash is a quick look at what is happening in the freight ecosystem. In today’s edition, the CEO of flatbed operator Daseke has resigned and new board members have been named. Plus, a legal dispute between technology providers project44 and FourKites is heading to court and supply chain growth remains positive, but for the first time in four months, it has trended downward.
Daseke shakeupThe CEO of flatbed truckload operator Daseke has resigned amid a shakeup that includes new board...
https://s29755.pcdn.co/news/the-daily-dash-daseke-shakeup-freight-tech-legal-battle-looms
Flatbed truckload company Daseke (NASDAQ: DSKE) announced several changes Tuesday, including its CEO’s resignation, changes to the board and an in-line financial update.
CEO who led the corporate turnaround resignsThe press release said CEO Chris Easter retired Dec. 31 to attend to family obligations. The company has inserted current board member Jonathan Shepko, a managing partner at private equity firm Stonehollow Capital, to fill the role on an interim basis while a national search is...
https://s29755.pcdn.co/news/shake-up-at-daseke-will-bring-new-ceo-board-changes
The Daily Dash is a quick look at what is happening in the freight ecosystem. In today’s edition, Brad Jacobs built XPO into one of the world’s largest logistics companies, but now that the company is splitting in two, what does that mean for Jacobs? Plus, Transport America believes it has a strategy to build for the future and U.S. Xpress and MIT are joining forces to improve driver efficiency.
Farewell tour?Brad Jacobs built XPO Logistics and now he plans to split the company into two. Will...
https://s29755.pcdn.co/news/the-daily-dash-whats-next-for-xpo-and-brad-jacobs
Following a significant third-quarter earnings beat, flatbed carrier Daseke (NASDAQ: DSKE) has received a “positive outlook” from S&P Global Ratings (NYSE: SPGI).
Citing recent improvement in the company’s operating performance and credit profile, the ratings agency raised its outlook on Daseke from negative to positive. “The positive outlook reflects Daseke’s better-than-expected operating performance and credit metrics in 2020 and our expectation for continued improvement in 2021,” the report...
https://s29755.pcdn.co/news/daseke-turnaround-nets-positive-outlook-from-ratings-agency
Flatbed carrier Hornady Transportation announced that it has merged with another flatbed hauler, Builder’s Transportation Co. (BTC).
Founded in 1925, Monroeville, Alabama-based Hornady provides transportation to the building materials and steel industries out of its terminal located in Birmingham. The company’s coverage footprint is east of the Rockies and the merger provides the carrier with a second terminal in Memphis, Tennessee, BTC’s headquarters.
Both carriers are affiliates of the nation’s...