freight brokerages

The disturbing truth behind the Zyn memes

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Ben Tschirgi, who leads a team of freight brokers in Sarasota, Florida, does not use Zyn. That...

https://www.freightwaves.com/news/zyn-memes-freight-brokerages

C.H. Robinson’s new CEO doubling down on lean management, large language models

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When C.H. Robinson (NASDAQ: CHRW) announced its next CEO was Ford executive Dave Bozeman, insiders...

https://www.freightwaves.com/news/ch-robinson-ceo-bozeman-interview-chrw

Freight brokers: How does your pay measure up?

In remote work era, leveraging lower-cost business locations may free up money for higher compensation 

Given that much of a freight brokerage’s work is handled through online platforms and/or over the phone, successful brokerages can set up base even in regions without a significant importing and manufacturing presence.

Brokerages can thus focus on lower-cost locations (places with lower taxes and office rents, for example) and could then choose to pass those savings on to their employees via...

https://www.freightwaves.com/news/freight-brokers-how-does-your-pay-measure-up

Canadian carrier Titanium targets pricing as inflation drags on record Q3

A tractor-trailer from trucking firm Titanium seen from the side on a highway.

Canada’s Titanium Transportation Group reported record revenue in the third quarter as executives told financial analysts that the cross-border transportation and logistics firm is working to negotiate higher rates with its customers.

“Nobody is shocked — and not a lot of pushback,” Chief Operating Officer Marilyn Daniel said during a conference call with analysts Wednesday. “Now it’s coupled with, ‘OK, can you do it?’ more than how much it is — no different than the way we buy our groceries...

https://www.freightwaves.com/news/canadian-carrier-titanium-targets-pricing-as-inflation-drags-on-record-q3

USA Truck reports record revenue despite scarcity of drivers, equipment

Assisted by rising freight rates and booming demand for capacity, USA Truck Inc. powered its way to revenue of $181 million and earnings per share of 54 cents during the third quarter.

It was the second consecutive quarter of record revenue for the Van Buren, Arkansas-based carrier. The third-quarter results also beat analyst expectations of quarterly earnings at 49 cents per share on revenue of $177 million.

“We believe overall that the market is the long-term arbiter of value and we intend to...

https://www.freightwaves.com/news/usa-truck-reports-record-revenue-despite-scarcity-of-drivers-equipment

Canada’s XTL acquires Georgia freight brokerage CBT

Tractor-trailers of XTL at a company load facility.

Cross-border trucking and logistics firm XTL Group has acquired Georgia-based freight brokerage CBT, creating the Canadian firm’s first U.S.-based operation. 

The acquisition, announced Monday, gives Toronto-based XTL a brokerage focused on serving the food service industry, and poultry and egg processors. The deal complements XTL’s trucking and freight brokerage businesses, which serve some of the same sectors within Canada and in cross-border operations with the U.S.

“They’ve never sold...

https://www.freightwaves.com/news/canadas-xtl-acquires-georgia-freight-brokerage-cbt

Titanium adds US brokerage office in Denver

Trucks on the highway seen from behind in the Denver area with snow and trees in the background.

Titanium Transportation Group has opened its fourth U.S. freight brokerage office, in Denver, the Canadian trucking and logistics firm said on Thursday as it pushed ahead with an increasingly key source of growth. 

“Colorado is an attractive market opportunity,” CEO Ted Daniel said in a statement, pointing to the presence of almost 6,000 manufacturers and rapid population growth.

The Denver office joins Titanium’s (TSX-V:TTR) existing brokerages in Charlotte, North Carolina; Nashville, Tennessee;...

https://www.freightwaves.com/news/titanium-adds-us-brokerage-office-in-denver

Titanium to expand US freight brokerage business after record Q2

The outside of a Titanium Transportation Group office with a US and Canadian flag flying in front of it.

Titanium Transportation Group (TSX-V:TTR) plans to open at least two new freight brokerage offices in the U.S. this year, the Canadian trucking and logistics firm’s CEO told financial analysts on Wednesday following a record second quarter.

Titanium’s U.S. brokerage business — consisting of offices in Charlotte, North Carolina; Nashville, Tennessee; and Chicago — has rapidly become a major growth driver since its inception in 2019. It generated CA$39.4 million ($31.5 million) in revenue in the...

https://www.freightwaves.com/news/titanium-to-expand-us-freight-brokerage-business-after-record-q2

Inside the investigation into a double-brokering scheme — Long-Haul Crime Log

A man, All State Association CEO Steve Avetyan, holding a Rolex watch in front of a white board.

Hundreds of trucking companies had been allegedly defrauded in an elaborate scheme utilizing a controversial practice called double brokering. After months of investigating, reporter Clarissa Hawes got a tip that led to a series of bizarre phone calls with the man who owned a freight brokerage at the center of the operation. 

“You’ve got a lot of angry people 
 trying to find out who is trying to find them, who is trying to hurt their kids, their families,” he told Hawes. 

The latest episode of...

https://www.freightwaves.com/news/inside-the-investigation-into-a-double-brokering-scheme-long-haul-crime-log

Mullen Group acquires US 3PL QuadExpress for $40M

A tractor-trailer of Mullen Group trucking company Payne viewed from the side of a road.

Mullen Group has acquired Chicago-area 3PL QuadExpress for $40 million in a deal that gives one of Canada’s largest trucking and logistics companies its first U.S.-based operation.  

Mullen (TSX:MTL) bought QuadExpress from Wisconsin-based commercial printing company Quad (NYSE:QUAD). The 3PL primarily operates as a freight brokerage and generated $135 million in revenue in 2020, Mullen said on Wednesday. 

Alberta-based Mullen Group, which operates trucking, logistics and oil services businesses...

https://www.freightwaves.com/news/mullen-group-acquires-us-3pl-quadexpress-for-40m

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