Following trucking’s biggest bankruptcy: FreightWavesTV live coverage Monday, December 9th
By: Emily Szink @ FreightWaves.com FreightWaves continues to follow the fallout at Celadon Group. The biggest bankruptcy in truckload history is expected any day. An internal source tells FreightWaves that Indianapolis based Celadon Group will file for bankruptcy protection under Chapter 11. Close to 3,500 employees could lose their jobs. On Monday, December 9th, FreightWavesTV will […]
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Roadrunner sells flatbed unit, another step in restructuring
Story by: Todd Maiden @ FreightWaves.com Roadrunner Transportation Systems, Inc. (NYSE: RRTS) announced that it has sold its flatbed unit, which operates as D&E Transport based in Clearwater, Minnesota. The transportation and asset-light logistics service provider said that the sale of the unit for $30 million in cash was part of its ongoing restructuring […]
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Celadon has officially filed for bankruptcy, shuts down after 34 years (with the video)
Story by: John Paul Hampstead, Director, Passport Research @ FreightWaves.com This morning, Celadon Group (OTC: CGIP) executives told its employees that the company filed for bankruptcy protection under Chapter 11 and will shut down the operations of its over-the-road fleet. The official announcement came after a chaotic weekend of credit, customer, and driver issues […]
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E-commerce kills efficiency as carrier miles decline
Story by: Zach Strickland, FW Market Expert & Market Analyst @ FreightWaves.com Chart of the Week: Average Length of Haul – Company and Leased Fleet Dry Van Carriers, Retail Sales – Online and Mail Order SONAR:ALOHA.VCFOO, RESL.ONLN This year’s Black Friday and Cyber Monday shopping extravaganza were record-breaking in terms of online sales. Both Thanksgiving and […]
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Watchdog group finds EPA failed in glider kit repeal rule
Story by: John Gallagher, Washington Correspondent @ FreightWaves.com A scathing report by the U.S. Environmental Protection Agency’s (EPA) Office of Inspector General (OIG) found that the EPA ignored required procedures in developing a proposed rule for glider trucks and that the White House attempted to impede the OIG’s investigation. The EPA, under former administrator […]
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FMCSA rejects UPS driver training exemption request
Story by: John Gallagher, Washington Correspondent @ FreightWaves.com Federal regulators have denied a petition by UPS [NYSE: UPS] to be exempted from two requirements of the entry-level driver training (ELDT) final rule after finding the company failed to make a valid safety case for its request. In its petition filed earlier this year, UPS […]
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Rival carriers rush to assist stranded Celadon drivers
Story by: Eric Kulisch @FreightWaves Drivers for Celadon Group Inc. (OTC: CGIP) appear to have been the last ones to find out about the company’s imminent bankruptcy and shutdown of its over-the-road trucking operation, leaving many of them stranded on highways with no instructions on how to dispose of their rigs and freight or assistance […]
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Carrier blames weak freight market, bad lease deal as a reason bankruptcy
Story by: Clarissa Hawes @ FreightWaves Family-owned Hendrickson Truck Lines Inc. of Sacramento, California, recently filed for bankruptcy protection, citing a soft freight market, loss of two key customers and a bad truck leasing agreement. In its filing with the U.S. District Court for the Eastern District of California, it listed assets and liabilities as being between […]
Learn MoreBiggest bankruptcy in trucking history expected by mid-week (with video)
Story by: John Paul Hampstead, Director, Passport Research @ FreightWaves Celadon Group (OTC: CGIP) will file for bankruptcy protection under Chapter 11 no later than Wednesday, December 11, according to internal sources. The Indianapolis-based, publicly-traded trucking carrier employed more than 3,200 drivers and took in more than $1 billion in gross revenue as recently […]
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