NFI

NFI’s Brown seeks dismissal of New Jersey case, cites minor role in dispute

NFI CEO Sidney Brown has added his voice to the legal push to have the New Jersey indictments of him and others tossed out, downplaying his role in the real estate standoff at the heart of the criminal case.

Following on the heels of a motion calling for the charges to be dismissed against all six defendants, Brown has filed his own motion for dismissal, making arguments unique to his involvement in the battle over control of a portion of riverfront real estate in Camden, New Jersey, across the...

https://www.freightwaves.com/news/nfis-brown-seeks-dismissal-of-new-jersey-case-citing-minor-role-in-dispute

NFI’s Brown, others move to dismiss criminal indictment in redevelopment case

The criminal case involving New Jersey political kingmaker George Norcross that includes NFI CEO Sidney Brown as a fellow defendant spawned two actions this month that provide more details on the real estate battles at the heart of the indictment.

Most recently, the defendants, including Norcross and Brown, filed a motion in Superior Court in Mercer County (home of the state capital, Trenton) on Tuesday to have the indictment dismissed.

That followed a civil lawsuit filed in early September...

https://www.freightwaves.com/news/nfis-brown-others-move-to-dismiss-criminal-indictment-in-redevelopment-case

NFI CEO Brown pleads not guilty in New Jersey political corruption case

In a process that took just minutes, NFI CEO and founding family member Sidney Brown pleaded not guilty Wednesday to charges related to the broad indictment of South New Jersey political powerhouse leader George Norcross.

Brown’s attorney was not able to attend the arraignment of Norcross and four other defendants in early July, so Brown’s arraignment was delayed until Wednesday.

NFI, a truckload carrier, is not part of the indictment, and representatives for the company have stressed that it is...

https://www.freightwaves.com/news/nfi-ceo-brown-pleads-not-guilty-in-new-jersey-political-corruption-case

FreightTech Friday: Alvys raises $20.5M to accelerate tech development

Logistics software provider Alvys announced Monday it has closed its Series A with $20.5 million in funding led by Titanium Ventures, with participation from Picus Capital and existing investors RTP and Bonfire. The company is looking to continue to develop its current offerings and support customer growth. Alvys has raised about $30 million to date.

Nick Darman, founder and CEO, told FreightWaves in an email Alvys is prioritizing its development in less-than-truckload and cross-border...

https://www.freightwaves.com/news/freighttech-friday-alvys-raises-20-5m-to-accelerate-tech-development

Transfix, recently out of the brokerage business, offering its first software solution 

Transitions can take a long time for any company, but Jonathan Salama, CEO and co-founder of Transfix, said that moving from being a digital brokerage to a supplier of SaaS solutions is a path made easier by the fact that Transfix was always building and improving the broker-focused technology it was going to need for its own operations. 

“It was a lot faster for us because we already had the right building blocks,” Salama said in an interview with FreightWaves. 

The Transfix transformation has...

https://www.freightwaves.com/news/transfix-recently-out-of-the-brokerage-business-offering-its-first-software-solution

NFI CEO Brown absent from arraignment of co-defendants due to lawyer conflict

Sidney Brown, the CEO of privately owned NFI Industries, was not in a New Jersey courtroom Tuesday when his co-defendants were arraigned on multiple felony charges relating to real estate on the Camden waterfront.

Judge Peter Warshaw, the presiding judge of the criminal division of the Mercer County court system based in Trenton, told the court that Brown, part of the family that owns truckload carrier NFI, could not be present because his attorney was in court Tuesday in a separate federal...

https://www.freightwaves.com/news/nfi-ceo-brown-absent-from-arraignment-of-co-defendants-due-to-lawyer-conflict

NFI CEO Brown indicted in sweeping New Jersey case against political giant

NFI CEO Sidney Brown, a member of the family that has owned the truckload carrier for more than 90 years, was indicted this week as part of a broad investigation of a major New Jersey power broker.

While NFI is not a target of the investigation, the indictment says the truckload carrier received more than $7 million in financial benefits as a result of receiving tax credits for moving its headquarters into the Triad1828 Centre on Cooper Street in Camden, New Jersey, which prosecutors say...

https://www.freightwaves.com/news/nfi-ceo-brown-indicted-in-sweeping-new-jersey-case-against-political-giant

Transfix sells brokerage unit to NFI

Transfix announced Wednesday the sale of its brokerage unit to NFI. Transfix will now focus solely on its transportation software and data offerings.

No financial details were provided, but Transfix said its remaining SaaS business will continue to cater to brokers, shippers and carriers. It also announced that NFI will be the first third-party customer of its proprietary TMS: Transfix Intelligent Freight Platform.

Camden, New Jersey-based NFI generates more $3.5 billion in annual revenue from a...

https://www.freightwaves.com/news/transfix-sells-brokerage-unit-to-nfi

WattEV opens public truck charging depot in Long Beach port

Nikola Tre models and WattEV chargers

Megawatt charging depots so far are behind-the-fence operations exclusive to the fleets that operate them. Truck-as-a-Service (TaaS) startup WattEV changes that when it opens its first charging-for-all installation at the Port of Long Beach.

“A lot of competitors have been talking about infrastructure, but we actually have equipment in the ground,” Salim Youssefzadeh, WattEV founder and CEO, told FreightWaves ahead of opening its first public changing depot Monday at the Port of Long Beach.

“We...

https://www.freightwaves.com/news/wattev-opens-public-truck-charging-depot-in-long-beach-port

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