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☆ A Trucking Giant Is Bankrupt, and Finger-Pointing Begins
▼ + stars: | 2023-08-07 | by ( Peter Eavis | More About Peter Eavis | ) www.nytimes.com time to read: +1 min

ArcBest, he said, took in $529 per shipment in the first quarter, versus $339 at Yellow. Mr. Jindel said Yellow was a laggard “largely because of mismanagement.”Yellow did not respond on Monday to a request to speak about its management record. One company hoping to pick up business from Yellow is Saia, a less-than-truckload company near Atlanta. The company’s stock has more than doubled this year, and is up 25 percent just since the end of June. The trucking industry plays a critical role in the U.S. economy, transporting nearly three-fourths of all freight tonnage in the United States, according to the American Trucking Associations, a trade group.

Persons: Satish Jindel, Jindel, “, ” Frederick Holzgrefe Organizations: Yellow’s, SJ Consulting, American Trucking Associations Locations: Atlanta, U.S, United States

LONDON, June 23 (Reuters) - Global trade remained in the doldrums during the second quarter as China’s post-lockdown rebound proved slower than expected and was offset by continued weakness in North America and Europe. Chartbook: Global container tradeChina’s freight movements have rebounded as the country emerged from lockdowns and the exit wave of the epidemic, though not as fast as anticipated at the start of the year. At Japan’s Narita airport, international air cargo was down 25% in the first five months of 2023 compared with a year ago. The most optimistic interpretation is that freight volumes have stabilised, after declining sharply in the second half of 2022, but there is no sign yet of a recovery outside China. Related columns:- Global freight cycle may have reached lowest point (May 25, 2023)- Global freight shows signs of bottoming out (April 27, 2023)- Global freight slump deepens at the start of 2023 (March 21, 2023)John Kemp is a Reuters market analyst.

Persons: John Kemp, Barbara Lewis Organizations: Global, of, European Union, Ministry of Transport, Traffic, Association of American Railroads, American Trucking Association, Thomson, Reuters Locations: North America, Europe, Netherlands, China, Asia, United States, Japan, United Kingdom, lockdowns, Singapore, East Asia, Los Angeles, Long Beach , Oakland, Houston, Charleston, Savannah, Virginia, Seattle, New York, U.S, Narita, Heathrow

☆ Tesla urges EPA to finalize tougher US heavy-duty emissions cuts
▼ + stars: | 2023-06-21 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

Companies Tesla Inc FollowWASHINGTON, June 20 (Reuters) - Tesla (TSLA.O) urged the Biden administration to finalize significantly stricter heavy-duty emissions limits than proposed in April, arguing larger vehicles were being electrified much faster than envisioned and would lead to bigger pollution cuts. EPA should "actively embrace a more rapid transition to (battery electric vehicles)" adding "the time for doing so is now," Tesla said. Tesla cited its Tesla Semi production in making the case for tougher emissions rules, noting it anticipates production levels of a Class 8 Day Cab tractor at 50,000 per year with significant production volumes beginning in late 2024. Tesla submitted its Semi heavy-duty production plans through 2030 to EPA but did not make them public. This means Tesla’s production goal alone would far exceed the 5% EV sales deployment EPA anticipates in 2027," Tesla wrote, noting other companies are planning to build heavy-duty EVs.

Persons: Biden, Tesla, Elon Musk, David Shepardson, Chris Reese, Matthew Lewis, Sonali Paul Organizations: Tesla, WASHINGTON, EPA, Act, Analysts, American Trucking Associations, Thomson Locations: Washington

☆ A downbeat economy has left truck drivers facing a slowdown that could get worse than 2008
▼ + stars: | 2023-05-19 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

The slowing US economy is hitting truck drivers, and the sector could be heading for worse conditions than 2008. Freight demand has deteriorated over the last year, and per-mile rates for drivers have plunged since the pandemic boom in 2021. For example, drivers are commanding per-mile rates as low as $1.49 per mile, per FreightWaves. Those rates hovered at $3.01 two years ago, and are worse than the levels seen in a brutal 2019 slowdown. Meanwhile, the American Trucking Associations' advanced seasonally adjusted for-hire truck tonnage index dropped 5.4% in March, marking the largest monthly drop since April 2020.

☆ It will be 'really tough' for trucking companies to stay in business if things don't pick up by Memorial Day, says an American trucking association
▼ + stars: | 2023-05-05 | by ( Nidhi Pandurangi | ) www.businessinsider.com time to read: +3 min

Executives at trucking giant JB Hunt recently sounded the alarm about a freight recession. OOIDA, an American trucking association, is echoing the sentiment. Even industry gauges are signaling a slowdown: The American Trucking Association's for-hire contract truck tonnage index dropped by about 6% month-on-month to 95.8 in March, hitting the lowest level since August 2021. Higher inventory levels and overstocked warehouses are one of the key reasons truckers are facing a freight recession. Chappell, however, has a pragmatic outlook on the lingering effects of a freight recession on trucking companies: "Capacity will certainly leave the market, but trucking is cyclical."

☆ New California Rule Would Ban Sale of Diesel Trucks by 2036
▼ + stars: | 2023-04-29 | by ( Neelam Bohra | Coral Davenport | ) www.nytimes.com time to read: +2 min

The rule is the latest in a series of increasingly ambitious moves by California and the federal government to curb planet-warming pollution from vehicles, the nation’s largest source of greenhouse gases. The California Air Resources Board approved the regulation, which by 2045 would fully eliminate the sale of new trucks that emit carbon dioxide across the state. The rule builds in intermediate goals in the coming years for government organizations and private companies to decrease their use of diesel trucks. But the American Trucking Associations, a trade organization for the trucking industry, criticized the ban, saying that it has worked to significantly reduce emissions but needs more flexibility. The state hopes the ban will save money related to health costs caused by pollution, including asthma attacks and respiratory illness.

The rule also require transitioning existing fleets to zero-emission vehicles. Big rigs, local delivery and government fleets must transition to zero emission by 2035, garbage trucks and local buses by 2039, and sleeper cab tractors and specialty vehicles by 2042. American Trucking Associations Chief Executive Chris Spear criticized the decision to force motor carriers to purchase zero-emission vehicles. On Thursday, CARB adopted new locomotive regulations requiring that by 2030 only those less than 23 years old could operate in the state. The Biden administration must still approve waivers for California to implement the new regulations.

☆ The US economy is slowing down. Just look at the freight recession that's sent diesel prices tumbling.
▼ + stars: | 2023-04-26 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

The US is seeing a "freight recession," meaning fewer trucks delivering goods across the country. The slowdown in deliveries comes as diesel prices have dropped by roughly half since last year. The American Trucking Association's truck tonnage index dropped to the lowest since August 2021. Wholesale diesel prices in New York Harbor tumbled to $2.65 a gallon from $5.34 last May, per the Journal. And in an earnings call last week, JB Hunt executives sounded the alarm on a "freight recession" as the shipping company missed earnings views and reported across-the-board drops in volumes that sent revenue per truckload down by 17%.

☆ A US recession looks more and more unavoidable as key parts of the economy slow to a crawl
▼ + stars: | 2023-04-26 | by ( Phil Rosen | ) www.businessinsider.com time to read: +4 min

For many months now, I've been having conversations and writing about economic indicators that all point to a recession. The US is in the midst of a "freight recession," meaning there's fewer trucks delivering goods around the country. In a call last week, JB Hunt reported a bad earnings miss, and executives said a recovery for trucking looks uncertain. Outside the trucking sector, the classic recession indicators are blaring, too:The Conference Board's Leading Economic Index just dipped for the 12th consecutive month. The New York Fed's Recession Probabilities Model puts the odds of a downturn at 57%, the highest mark since 1982.

☆ Retailers bought so much stuff during the pandemic that it's overburdening warehouses — and it may be causing a 'freight recession,' analyst says
▼ + stars: | 2023-04-26 | by ( Nidhi Pandurangi | ) www.businessinsider.com time to read: +3 min

Executives at trucking giant JB Hunt recently sounded the alarm about a freight recession. Over-buying during the pandemic is depressing the demand for goods, which is impacting freight and transport. Executives at trucking giant JB Hunt sounded the alarm over a "freight recession" at a first-quarter conference call last week. A freight recession basically means there are fewer trucks delivering goods across America. Notably, the freight recession is not a US-only problem.

☆ Biden could help save cars, bicyclists, and pedestrians from being pulled under trucks in an accident with a simple fix, advocates say
▼ + stars: | 2023-04-04 | by ( Eliza Relman | ) www.businessinsider.com time to read: +6 min

Side guards can also stop people and cars from being crushed by a truck's rear wheels. A man stands on a truck's rear underride guard in Mexico City in 2021. Isaac Guzman/Getty Images'A catch-22'The US government and road safety experts have known for at least 50 years that underride guards save lives. Rear underride guards have been mandatory for most trucks in the US since the 1950s. Cahalan blames the trucking industry for "delaying and fighting against common sense safety reforms," not just with regard to underride guards.

☆ Lawmakers aim to train more truck drivers, ease supply chain issues through bipartisan bill
▼ + stars: | 2023-04-03 | by ( Chelsey Cox | ) www.cnbc.com time to read: +3 min

A semi truck used by students while earning their commercial driver's license (CDL) parked at Truck America Training of Kentucky in Shepherdsville, Kentucky, U.S., on Monday, Oct. 25, 2021. WASHINGTON — A pair of bipartisan lawmakers have reintroduced legislation offering tax credits to U.S. truck drivers in an effort to address a dire pandemic-related shortage. The Strengthening Supply Chains Through Truck Driver Incentives Act aims to combat what lawmakers said was a shortfall of about 80,000 commercial truck drivers in 2021, caused by hiring and retention challenges. The bill would establish a two-year refundable tax credit of up to $7,500 for truck drivers with a valid Class A commercial driver's license who drive at least 1,900 hours in a year. Ten advocacy organizations representing the trucking industry, including the American Trucking Associations and American Loggers Council, have backed the bill.

☆ US approves California plan requiring half of heavy duty trucks be EV by 2035
▼ + stars: | 2023-03-31 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

California Governor Gavin Newsom said as a result of the plan, "half of all heavy duty trucks sold in CA will be electric by 2035." The California Air Resources Board (CARB) had sought waivers from the Clean Air Act to set heavy-duty vehicle and engine emission standards. CARB has noted heavy-duty vehicles greater than 14,000 pounds comprised 3% of vehicles on California roads, but account for more than 50% of nitrogen oxides and fine particle diesel pollution. In December, the EPA finalized new emissions standards to drastically cut smog- and soot-forming emissions from heavy-duty trucks. Transportation is the largest source of U.S. greenhouse gas emissions, making up 29% of emissions, and heavy-duty vehicles are the second-largest contributor, at 23%.

☆ More women become truckers as the industry tries to overcome a shortage of drivers
▼ + stars: | 2023-03-25 | by ( Noah Sheidlower | ) www.cnbc.com time to read: +10 min

She's one of many in the trucking industry leading efforts to bring more women into the fold. Associations like Women In Trucking work to increase the rate of women drivers, technicians and executives, particularly younger women or those switching careers, like Johnson. Now, with the industry facing a daunting driver shortage, initiatives to bring in women drivers from other industries have escalated. The share of women truckers has increased significantly in recent years: Women now make up almost 8% of truck drivers and sales delivery drivers, according to the U.S. Bureau of Labor Statistics. Navigating shortagesThough many women joined the industry during the pandemic, Covid-19 lockdowns stalled training and testing for truck drivers.

☆ American truckers' wages have dropped by more than $50,000 since 1980, creating one of the industry's biggest problems
▼ + stars: | 2023-01-23 | by ( Bianca Giacobone | ) www.businessinsider.com time to read: +4 min

The deregulation of the trucking industry in the 1980s led to wages being slashed by almost half. A high turnover rate — around 90% for large fleets — is considered a big problem of the industry. The change is tied to the Motor Carrier Act of 1980, which deregulated the trucking industry. Along with depressed wages, truckers face a dangerous job: In the US, one in 6 workers killed on the job is a trucker, according to Levy. That contributes to a high turnover of over 90% for large fleets.

☆ 400 groups urge U.S. lawmakers to take 'immediate steps' to block potential rail strike
▼ + stars: | 2022-11-28 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

"The risks to our nation’s economy and communities simply make a national rail strike unacceptable," says the letter to congressional leaders seen by Reuters. "Therefore, absent a voluntary agreement, we call on you to take immediate steps to prevent a national rail strike and the certain economic destruction that would follow." It warned a strike could halt passenger railroad Amtrak and commuter rail services that "would disrupt up to 7 million travelers a day." If they do not, workers could strike or railroads could lock out employees - unless Congress intervenes. But railroads would halt hazardous materials shipments at least four days ahead of a strike deadline.

☆ Biden asks Congress to avert rail strike, warning of dire economic impact
▼ + stars: | 2022-11-28 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

WASHINGTON, Nov 28 (Reuters) - U.S. President Joe Biden on Monday called on Congress to intervene to avert a potential rail strike that could occur as early as Dec. 9, warning of the potential dire economic impact. Biden asked lawmakers to adopt the tentative deal announced in September "without any modifications or delay - to avert a potentially crippling national rail shutdown." "The risks to our nation’s economy and communities simply make a national rail strike unacceptable," says the letter to congressional leaders first reported by Reuters. "Therefore, absent a voluntary agreement, we call on you to take immediate steps to prevent a national rail strike and the certain economic destruction that would follow." If they do not, workers could strike or railroads could lock out employees - unless Congress intervenes.

☆ This 36-year-old mom of 2 brings in $144,000 a year as a professional truck driver: 'I love my job so much'
▼ + stars: | 2022-11-13 | by ( Gili Malinsky | ) www.cnbc.com time to read: +3 min

The 36-year-old, Charlotte, North Carolina, resident is a professional truck driver hauling an array of goods from diapers to TVs to canned goods across the East Coast. Rankin loves her job, and her trucking company brought in $144,208 last year. 'I showed him how I can maneuver that big old thing'Rankin, who's married with two children, went to school for criminal justice but couldn't find work in the field. The job was outdoors, far preferable to an office job that would keep her indoors all day. 'I got turned down so many times'Despite her immediate love of the job, it was hard for Rankin to find work.

☆ 300 business groups call on Biden to intervene in rail unions contract vote
▼ + stars: | 2022-10-27 | by ( Vanessa Yurkevich | ) edition.cnn.com time to read: +3 min

Washington CNN Business —Three hundred business groups are calling on President Joe Biden to intervene in the ratification of the national tentative agreement he helped broker last month between rail unions and US freight railroads. In a letter sent to the president Thursday, retail, agricultural, manufacturing, and trucking associations jointly asked the president to ensure that the tentative agreement is ratified. Sick time is unpaid in the current tentative agreement. They also give union members cash bonuses of $1,000 a year. All told, the backpay and bonuses will give union members an average payment of $11,000 per worker once the deal is ratified.

REUTERS/Lindsey WassonWASHINGTON, Oct 17 (Reuters) - When a Washington state beauty salon charged Simran Bal $1,900 for training after she quit, she was shocked. Register now for FREE unlimited access to Reuters.com RegisterNearly 10% of American workers surveyed in 2020 were covered by a training repayment agreement, said the Cornell Survey Research Institute. The practice, which critics call Training Repayment Agreement Provisions, or TRAPs, is drawing scrutiny from U.S. regulators and lawmakers. While waiting to complete the training, Bal worked at the front desk, which paid less. The International Brotherhood of Teamsters said in comments that training repayment demands were "particularly egregious" in commercial trucking.

New York (CNN Business) The US economy can keep running without freight trains — but not for long. But a rail strike could send prices shooting higher again due to limited supplies. The National Retail Federation said last week it is concerned about shortages later this year if there is a rail strike. A rail strike would "devastate the movement of manufactured products that families depend on." CommutingAlthough only the nation's freight rail lines face a pending strike, many of the nation's commuter trains travel on tracks maintained and operated by the freight railroads.

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