Three Former Roadrunner Executives Charged With Fraud
The Securities and Exchange Commission has formally charged the former chief financial officer and two of his associates at Roadrunner Transportation Systems with accounting fraud and misleading investors about the company’s financial results.
April 4, 2019Cynosure Invests in Visible Supply Chain Management
Visible Supply Chain Management has received an unspecified equity investment in its business from The Cynosure Group, an investment firm controlled by the Eccles family in Salt Lake City, according to a statement released April 3.
April 4, 2019Investment Firm Regains Ownership of GlobalTranz
GlobalTranz Enterprises has struck a deal with Providence Equity Partners to acquire the business from The Jordan Co. in a move designed to provide additional financial support for the company’s aggressive growth strategy.
April 4, 2019Industry Objects to Plan to Privatize Military Moves
A plan to turn over responsibility for household-goods moves for military personnel to a single third-party transportation manager is running into opposition from industry leaders who say the idea is flawed and won’t rectify the problems U.S. Transportation Command said it wants to address.
April 3, 2019Grammer Industries Acquires Sterling Transport Co.
Grammer Industries Inc. announced it has acquired North Vass, N.C.-based Sterling Transport Co.
April 2, 2019MIQ Logistics Agrees to Buyout by Spanish Firm Noatum
Global freight forwarder MIQ Logistics will become part of Noatum Logistics, a unit of Noatum Maritime Services in Madrid, according to a definitive agreement announced March 21.
March 27, 2019Trucking Company Owner Joseph Lipsey III Relinquishes Control After Arrest, Drug Charges
The owner of Lipsey Logistics and Lipsey Trucking has relinquished control of the business after being arrested on drug charges at his home in Colorado.
March 26, 2019Teamsters, YRC Strike Tentative Deal on Labor Contract
The chief negotiator for the Teamsters union announced that a tentative accord has been reached with YRC Worldwide for a new collective bargaining agreement covering 24,000 drivers and freight handlers at YRC Freight, one of the nation’s largest less-than-truckload carriers, and two of YRC’s regional freight carriers, New Penn Motor Express and USF Holland.
March 22, 2019FedEx Earnings Take a Hit as International Shipping Slows
FedEx Corp. reported higher revenue but lower profits in the third quarter of fiscal 2019 and cut its earnings forecast for the remainder of the year.
March 19, 2019Kane Is Able Receives Equity Investment From Harkness Capital Partners
Kane Is Able Inc., a warehousing and distribution business in operation since 1930, announced that Harkness Capital Partners agreed to make an unspecified equity investment in the firm as part of a strategy to expand the company’s services and national presence.
March 19, 2019