Love’s acquisitions expand its factoring business

Love’s factoring business just got much larger, and the paychecks for some of its workers this month will be bigger too. 

The company known mostly for its travel centers also has a factoring business, and it announced the first two acquisitions in its history on Wednesday, July 1. Love’s Financial, as the factoring arm is known, acquired Vero Business Capital of Memphis and Foley Business Capital of Omaha.

Vero acquired Foley less than a year ago. Southworth Capital Management, also in Memphis...

https://s29755.pcdn.co/news/loves-acquisition-expand-its-factoring-business

Trying to make sense of the YRC bailout

YRC Freight double in the desert

The claws are coming out already, with some industry onlookers questioning the government’s rationale behind making a huge loan to less-than-truckload (LTL) carrier YRC Worldwide (NASDAQ: YRCW), a perpetually struggling company and one that the government’s own Defense Department alleges overcharged it for services. The loan’s placement under the umbrella of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which is intended to help businesses survive the economic downturn caused...

https://s29755.pcdn.co/news/trying-to-make-sense-of-the-yrc-bailout

Inbound package rates rise; market braces for sticker shock

Inbound packet rates go up as market braces for sticker shock (Photo: Jim Allen/FreightWaves)

The Universal Postal Union (UPU) regulations increased inbound package rates within the U.S. as of today, July 1. As agreed to by the UPU and the U.S. in October 2019, the deal will ensure that the country remains a part of the UPU. The changes were put in place after the U.S., the largest importer in the world, threatened to leave the UPU, citing mandated cheaper parcel rates granted to countries with a “developing” status tag – including China. 

The UPU was forced to come to the table for...

https://s29755.pcdn.co/news/inbound-package-rates-rise-market-braces-for-sticker-shock

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