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☆ 20 crew members supply Roman Abramovich's $600 million superyacht with provisions, electricity, and water every day as the Ukraine war wages on, report says
  + stars: | 2022-10-24 | by ( Kate Duffy | ) www.businessinsider.com   time to read: +2 min
A crew supplies Russian billionaire Roman Abramovich's yacht on a daily basis, a worker told the NYT. The yacht is docked in Turkey, a country that hasn't yet imposed sanctions on Russia over the war. The worker said that the crew came on a daily basis to supply the yacht with electricity, water, and provisions, as well as remove the waste onboard. His Solaris yacht has avoided sailing into EU territory since the Ukraine war broke out. Yalıkavak Marina told The Times in a statement that Solaris was kept outside of the marina's boundaries because of "international concerns."
☆ Renewed threat of rail strike has supply chain managers ramping up contingency plans
  + stars: | 2022-10-20 | by ( Lori Ann Larocco | ) www.cnbc.com   time to read: +3 min
Logistics managers are dusting off their plans for a possible railroad strike in November that could wreak havoc on the supply chain and cost the U.S. economy up to $2 billion a day. "Now is not the time to introduce new demands that rekindle the prospect of a railroad strike," the NCCC said in a statement. Tom Nightingale, CEO of AFS Logistics, tells CNBC that logistics managers are fielding calls from customers in anticipation of a possible strike. "Shippers had a lot of sensitivity to the potential rail strike," Nightingale said. "Shippers don't want cargo with a limited shelf life sitting at a rail yard, particularly commodities like chemicals and refrigerated food and beverage," he said.
☆ J.B. Hunt Expects Weaker Freight Volumes This Holiday Season
  + stars: | 2022-10-18 | by ( Liz Young | Kathryn Hardison | ) www.wsj.com   time to read: +3 min
Freight bellwether J.B. Hunt Transport Services Inc. said it is planning for a damped holiday shipping season, as cargo volumes fall ahead of what is typically the busiest period of the year for logistics operators. PREVIEWDarren Field, president of intermodal at J.B. Hunt, said on an earnings call Tuesday that peak season volumes aren’t where the company had anticipated they would be. J.B. Hunt executives said the company is seeing some of that in its freight-brokerage business, where volumes have been softening. Revenue in its brokerage business was down 11% in the third quarter year-over-year and volume was down 8%. Mr. Field said he attributed the September drop-off to the threat of a national rail strike that month.
☆ Freight Operators’ Peak Shipping Season Is Crumbling
  + stars: | 2022-10-18 | by ( Paul Berger | Paul Page | ) www.wsj.com   time to read: +7 min
The peak shipping season is fizzling as overstocked retailers cancel overseas orders and freight companies scale back expectations for heavy freight volumes heading into the holidays. Many retailers pulled peak season orders in early this year to avoid a repeat of 2021 when supply-chain congestion caused delays and product shortages during the holidays. Container shipping rates that hit record highs last year have also pulled back sharply, although they still remain above 2019 levels. The peak shipping season cascades down into package transport, as United Parcel Service Inc., FedEx Corp. and others typically handle growing volumes as the calendar counts down to Christmas. Citi analysts say they expect a “weaker peak season and a large amount of uncertainty in terms of the magnitude of demand.”—Esther Fung and Liz Young contributed to this article.
☆ Freight Operators’ Peak Shipping Season is Crumbling
  + stars: | 2022-10-18 | by ( Paul Berger | Paul Page | ) www.wsj.com   time to read: +6 min
The peak shipping season is fizzling as overstocked retailers cancel overseas orders and freight companies scale back expectations for heavy freight volumes heading into the holidays. But a range of measures of shipping demand across the U.S. are sliding, freight rates are falling as a result, leading carriers to pull back capacity amid concerns a deeper downturn is coming. Many retailers pulled peak season orders in early this year to avoid a repeat of 2021 when supply-chain congestion caused delays and product shortages during the holidays. Container shipping rates that hit record highs last year have also pulled back sharply, although they still remain above 2019 levels. The peak shipping season cascades down into package transport, as United Parcel Service Inc., FedEx Corp. and others typically handle growing volumes as the calendar counts down to Christmas.
☆ Here are Monday's biggest analyst calls of the day: Apple, Amazon, Netflix, Kroger, SunPower & more
  + stars: | 2022-10-17 | by ( Michael Bloom | ) www.cnbc.com   time to read: +5 min
Here are the biggest calls on Wall Street on Monday: Morgan Stanley reiterates Apple as overweight Morgan Stanley named the tech giant as its top pick in a downturn. Cowen reiterates Amazon as outperform Cowen said shares remain attractive heading into earnings later this month. Morgan Stanley resumes Prologis as overweight Morgan Stanley resumed coverage of the supply chain logistics company and named it a top pick. Morgan Stanley upgrades Clorox to equal weight from underweight Morgan Stanley said in its upgrade of Clorox that it sees some earnings upside ahead of the company's earnings later this quarter. Oppenheimer reiterates Chipotle as outperform Oppenheimer says Chipotle is a "rarity" as the firm sees earnings upside among a deteriorating macro.
☆ Logistics Deal Making Falters as Freight Demand Slows
  + stars: | 2022-10-12 | by ( Paul Berger | Armstrong | Associates | ) www.wsj.com   time to read: +5 min
A once-bustling logistics mergers-and-acquisitions market is quieting down as slipping freight demand and higher borrowing costs dampen deal making in the sector. Company valuations are moderating in a softening freight market and rising borrowing costs are making deals tougher to complete. The market for freight and logistics companies surged during the pandemic as retailers sought to rush goods to consumers, fueling strong growth in shipping demand, higher freight rates and record profits for companies ranging from regional truck operators to international freight forwarders. Foreign-based ocean carriers and freight forwarders have also shown great interest in the U.S. logistics market as they seek to expand their end-to-end supply-chain services. But logistics companies looking to expand their reach and private-equity firms looking to expand existing logistics portfolios are still hunting deals.
☆ XPO Logistics Names CFO Ahead of Planned Spinoff of Freight Brokerage Business
  + stars: | 2022-10-10 | by ( Kristin Broughton | Jennifer Williams-Alvarez | ) www.wsj.com   time to read: +4 min
XPO Logistics Inc. named a new finance chief ahead of the planned spinoff of its freight brokerage business later this year, part of an ongoing effort to split the sprawling transportation company into smaller pieces. Carl Anderson will take over as chief financial officer on Nov. 8, Greenwich, Conn.-based XPO Logistics said Monday. XPO Logistics in 2021 spun off its supply-chain business GXO Logistics Inc., which provides services such as warehousing and e-commerce. XPO Logistics reported a total profit of $141 million during the quarter, down 10% from a year earlier. During his tenure as finance chief, Mr. Tulsyan played a key role in the spinoff of the GXO supply-chain business.
☆ This $10 Accessory Is the Easiest-Ever Way to Prevent Identity Theft
  + stars: | 2022-06-24 | by ( ) www.wsj.com   time to read: +4 min
While I’m not storing state secrets near my washer-dryer, the fact that more than 1.4 million reports of identity theft were received by the Federal Trade Commission last year, as The Wall Street Journal newsroom has reported, makes me more than a little concerned. Which is why I was intrigued to learn that friend-of-a-friend pro organizer Lisa Zaslow is a big fan of the tiny Miseyo Wide Roller Stamp Identity Theft Stamp. Her teen hands easily gripped the stamp, which reminded me of all those summer evenings labeling her shorts and swimsuits before camp. I enjoyed it so much, I watched the Miseyo Identity Theft Protection Roller Stamp video, which says it unfurls about 100 meters of ink, and refills are cheap (three for $10.99). Now my only concern is not misplacing this tiny security tool; I have long since lost track of that summer-camp stamp bearing my last name.
☆ The founder of $2.8 billion Getir explains why investors hope to find the next Uber among 10-minute grocery apps
  + stars: | 2021-05-01 | by ( Shona Ghosh | ) www.businessinsider.com   time to read: +10 min
Turkey's Getir recently hit an eye-watering $2.8 billion valuation for its grocery delivery service. The hot new consumer trend for venture capital investors is grocery apps that promise deliveries in as little as 10 minutes. Turkish grocery delivery app Getir bills itself as the original gangster. The amounts of cash flooding into the sector and the accompanying valuations are puzzling, given that grocery delivery is famously low margin. Insider: Running a grocery business is quite different to ride hailing.
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