Business Archives

Trump steel, aluminum tariffs likely to drive up car costs, industry leaders say

The Associated Press - February 12, 2025

DETROIT (AP) — President Donald Trump’s tariffs on steel imports this week could wreak havoc on American auto manufacturing, industry leaders say. The moves align with the Trump administration’s aggressive global trade agenda and ambitions to strengthen U.S. industry, but they could have an inverse effect. On March 12, all steel imports will be taxed at a minimum of 25%, the result of two orders the president signed Monday that also include a 25% tariff on aluminum. That could have a serious impact on domestic auto companies including Ford, GM and Stellantis — and make these companies’ vehicles more expensive for the nation’s car buyers. Tariffs on crucial products coming from outside of the U.S. places pressure on domestic sourcing of the materials, experts say. The basic rules of supply and demand could drive up costs. “Steel producers have to find ways to increase capacity, and aluminum and steel might be in short supply in the short term,” said Sam Fiorani, analyst at AutoForecast Solutions, which studies the industry. “Producing vehicles has a lot of moving parts, and raising the price of what is among the most important components of the vehicle is only going to raise the price of an already expensive product.” The average transaction price for a new vehicle in the U.S. in January was $48,641, according to auto-buying resource Kelley Blue Book — a hefty investment for an inflation-sensitive consumer. “Tariffs such as these do nothing to enhance the automotive industry directly,” Fiorani said. To Ford CEO Jim Farley, Trump’s early actions in office — which also include 25% tariffs on goods coming from Mexico and Canada, although delayed by a month — are already challenging the Dearborn, Michigan, automaker. The Trump administration has also upended electric vehicle policy put in place under former President Joe Biden, targeted EV charging infrastructure, as well as directed review of vehicle emissions and fuel economy rules — all of which could play a role in automaker plans to decarbonize. Already, auto companies have pulled back some electrification plans amid shifts in the market. Most of the three automakers’ steel and aluminum already comes from North America, Ford included; CFO Sherry House noted Tuesday during a Wolfe Research conference that 90% of the company’s steel comes from the U.S., and that aluminum is also not that competitive. Still, Farley said Tuesday during the same conference that “So far what we’re seeing is a lot of cost, and a lot of chaos,” according to a transcript of the event. Farley said: “The reality is, though, our suppliers have international sources for aluminum steel. So that price will come through and it may be a speculative part in the market where price would come up because the tariffs are even rumored.” A spokesperson for Ford deferred to Farley’s comments when reached for additional comment. A spokesperson for Stellantis declined to comment. A GM spokesperson deferred to CEO Mary Barra’s comments from the Wolfe conference. Barra also said much of the steel and aluminum used in GM’s U.S. vehicle production is sourced here and that the company did not expect any significant immediate impact. “We’re concerned about the downstream effects on consumer products like automobiles,” said Glenn Stevens Jr., executive director of MichAuto, a state auto industry association. “The concern whenever you have a scenario like this, and I’m not an economist, but I follow this very closely, is that the short-term benefits of higher prices for steel and aluminum for domestic production are outweighed by a decrease in downstream effects.” “The auto industry, it’s a very competitive business,” he added. “You can’t change supply chains very quickly and you certainly can’t change manufacturing locations very quickly.” Trump also placed tariffs on steel and aluminum in 2018 during his first stint in the White House. Automakers had to revise their financial plans for the year as their outlooks fell as a result, according to Fiorani. “Industries like automotive have built their entire financial plan based on sourcing products where they can; locally, if it’s possible, globally, if it makes the most sense,” he added. Erik Gordon, professor at the University of Michigan Ross School of Business, said if automakers can’t raise prices, they’ll lose profits. “The tradeoff is that car buyers might pay more or car manufacturers might make less, in return for more jobs in the U.S. steel industry and less dependence on non-U.S. steel companies.” Associated Press reporter Isabella Volmert contributed to this report from Lansing, Mich.

ArcBest reports productivity gains from technology, training and network design in 2024

Dana Guthrie - February 12, 2025

FORT SMITH, Ark. — ArcBest is reporting a fourth quarter 2024 revenue of $1.0 billion, compared to $1.1 billion in fourth quarter 2023. “Throughout 2024, we made significant progress on controlling costs, improving productivity, and enhancing our service quality,” said Judy R. McReynolds, chairman, CEO. “These achievements underscore our commitment to excellent execution and are yielding tangible results. I want to extend a heartfelt thank you to our dedicated employees, whose hard work and innovation have been pivotal in reaching these milestones. Together, we are well-positioned for continued growth and success.” Q4 Net Income Net income was $29.0 million, or $1.24 per diluted share, compared to $48.8 million, or $2.01 per diluted share in the prior year. On a non-GAAP basis, fourth quarter 2024 net income was $31.2 million, or $1.33 per diluted share, compared to $60.0 million, or $2.47 per diluted share in the prior year. Key Findings for 2024 Productivity gains from technology, training, and network design. Continued focus on cost control initiatives to mitigate headwinds from challenging freight environment. Significant investments to enable growth, improve service, and increase efficiencies across the network while returning over $85 million to shareholders in 2024 through both share repurchases and dividends. ArcBest’s full year 2024 revenue totaled $4.2 billion compared to $4.4 billion in 2023. Net income from continuing operations was $173.4 million, or $7.28 per diluted share, including a $67.9 million after-tax benefit from the reduction in the fair value of contingent consideration related to a 2021 acquisition, compared to net income of $142.2 million, or $5.77 per diluted share in 2023. On a non-GAAP basis, full year 2024 net income was $149.7 million, or $6.28 per diluted share, compared to net income of $194.1 million, or $7.88 per diluted share, in 2023. Results of Operations Comparisons Asset-Based Fourth Quarter 20 24 Versus Fourth Quarter 20 23 Revenue of $656.2 million compared to $710.0 million, a per-day decrease of 7.6 percent Total tonnage per day decrease of 7.3 percent Total shipments per day decrease of 1.1 percent Total billed revenue per hundredweight increase of 0.6 percent Operating income of $52.3 million and an operating ratio of 92.0 percent, compared to $87.5 million and an operating ratio of 87.7 percent The Asset-Based segment generated $35.2 million less operating income than fourth quarter 2023. Fourth quarter tonnage declines were driven by a 6.3 percent decrease in weight per shipment and a 1.1 percent decrease in daily shipments. Prolonged manufacturing sector weakness continues to negatively impact weight per shipment metrics. Productivity improvements of 2.3 percent and other cost initiatives helped mitigate the impact of the soft market environment, higher insurance costs, and higher labor cost increases related to the annual union contract rate increase, which went into effect during the third quarter of 2024. Pricing Agreements Contract renewals and deferred pricing agreements saw an average increase of 4.5% during the quarter. Price improvements were offset by declining fuel costs. Excluding fuel surcharges, revenue per hundredweight increased in the mid-single digits, year-over-year. Overall, LTL industry pricing remains rational. Compared sequentially to the third quarter of 2024, fourth quarter 2024 revenue per day decreased 4.5 percent. Weight per shipment improved 0.6 percent and shipments per day declined by 2.6 percent, resulting in a 2.1 percent decrease in tonnage per day. Billed revenue per hundredweight was 2.9 percent lower, impacted by the increase in weight per shipment, reduced fuel prices, and the increase of project-related business. Lower tonnage, offset in part by cost savings, resulted in the operating ratio increase of 100 basis points sequentially, which was on the lower end of the historical seasonality range of a 100 to 200 basis point increase. Asset-Light Fourth Quarter 2024 Versus Fourth Quarter 2023 Revenue of $375.4 million compared to $413.4 million, a per-day decrease of 9.2 percent Operating loss of $1.6 million, compared to operating loss of $7.7 million On a non‑GAAP basis, operating loss of $5.9 million compared to operating loss of $1.3 million Adjusted earnings before interest, taxes, depreciation and amortization (“Adjusted EBITDA”), as defined in the attached non-GAAP reconciliation tables, of negative $4.2 million compared to $0.7 million Compared to the fourth quarter of 2023, Asset-Light revenues were impacted by lower revenue per shipment associated with the soft rate environment and a higher mix of managed transportation business, which has smaller shipment sizes and lower revenue per shipment metrics. Shipments per day were lower by 2.1 percent. The segment continues to benefit from productivity initiatives, as shipments per employee per day improved 20.8 percent, on a year-over-year basis, but the soft freight environment and excess truckload capacity continue to impact results. Compared sequentially to third quarter 2024, fourth quarter 2024 shipments per day were down 1.4 percent, yet daily revenue was up by 0.6 percent as revenue per shipment increased 2.0 percent. Shipments per employee per day, improved by 5.8 percent, but purchased transportation costs as a percentage of revenue, increased and compressed margins. The $2.0 million sequential increase in non-GAAP operating loss was due primarily to the current truckload brokerage pricing environment. Full Year Results of Operations Comparisons Asset-Based Full Year 20 24 Versus Full Year 20 23 Revenue of $2.8 billion, compared to $2.9 billion, a per-day decrease of 4.6 percent Tonnage per day decrease of 14.3 percent Shipments per day decrease of 3.3 percent Total billed revenue per hundredweight increase of 11.7 percent Operating income of $242.6 million and an operating ratio of 91.2 percent, compared to $253.2 million and an operating ratio of 91.2 percent On a non-GAAP basis, operating income of $242.6 million and an operating ratio of 91.2 percent, compared to $275.5 million and an operating ratio of 90.4 percent Asset-Light Full Year 20 24 Versus Full Year 20 23 Revenue of $1.6 billion compared to $1.7 billion, a per-day decrease of 8.0 percent Operating income of $58.4 million, including the $90.3 million pre-tax change in the fair value of contingent earnout consideration related to an earnout, compared to operating loss of $12.3 million On a non-GAAP basis, operating loss of $17.1 million compared to operating income of $5.3 million Adjusted EBITDA of negative $9.8 million compared to $12.9 million Capital Expenditures In 2024, total net capital expenditures, including equipment financed, were $288 million. This included $160 million of revenue equipment and $85 million in real estate, the majority of which was for ArcBest’s Asset-Based operation. Depreciation and amortization costs on property, plant and equipment were $136 million in 2024. Share Repurchase and Quarterly Dividend Programs ArcBest returned over $85 million to shareholders in 2024 through both share repurchases and dividends, while making significant organic capital investments in the business. As of January 29, 2025, ArcBest had $48.7 million of repurchase authorization remaining under the current stock repurchase program. Management plans to continue acting opportunistically on repurchases based on share price, balanced against prioritizing organic capital investments while maintaining reasonable leverage levels.

Transervice strengthens executive ranks with appointment of Jerry Greiner

Dana Guthrie - February 12, 2025

LAKE SUCCESS, N.Y. — Transervice Logistics Inc. is announcing Jerry Greiner as its new vice president of business operations, procurement and fleet management. “Jerry is a seasoned industry veteran who brings a host of experience and knowledge to the role,” said Gino Fontana, executive vice president and COO. Seasoned Veteran Greiner was formerly Director, Fleet Logistics for Ferrellgas, a publicly traded Fortune 1000 company supplying propane for millions of customers nationwide. From 2009-2021 he was Director of Fleet Management for US Foods, responsible for a fleet of 4,000-plus pieces of equipment at over 1,000 terminals across the United States. An active industry leader, Greiner has authored multiple grants for alternate fuels and is a member of Freightliner’s EV Council. He holds a BS Degree in Finance from Illinois State University and is a Six Sigma Green Belt. Greiner will be working out of the Transervice Chicago office.

The tax man cometh: Don’t be caught unaware on April 15

Cliff Abbott - February 11, 2025

Federal Income tax payments for 2024 aren’t due until April 15, but it’s not too late to make changes that could reduce your tax liability for what you’ll pay NEXT year. The venerable Benjamin Franklin might have said, “Nothing is certain except death and taxes” — but neither the day you’ll die nor the amount of taxes you’ll pay are set in stone. There are things you can do to help reduce the amount of taxes owed. One big decision is the structure your business will take. For instance, a Sole Proprietorship combines your personal finances with that of your business. You file one return, generally with an extra form on which you list business income or loss. You pay taxes on whatever is left after subtracting business expenses and personal deductions. This is likely the simplest type of business structure, but there are drawbacks. First of all, the taxes you pay on your income include Self-Employment tax. This tax combines the employee and employer contributions of both Social Security and Medicare taxes, totaling 15.3% of your net income in addition to any income tax owed. Another drawback of Sole Proprietorship is personal liability. If your business can’t pay its bills, including fines or court judgements, your personal property such as your home can be taken to satisfy the debt. Partnerships are also liable for Self-Employment tax and personal liability. A Limited Liability Company (LLC) gets you out of personal liability for business debts but is still subject to self-employment tax. C-corporations and S-corporations relieve you of personal liability, but they’re taxed differently. The structure you choose determines how complicated and expensive setting it all up will be, but it also impacts your liability and your tax rate. Vanessa Gant, founder and “money architect” at ProVision Accounting Solutions, recommends utilizing both legal and accounting advisors to guide you to the right decisions for your business. “If you’re working with a quality financial advisor, you should be getting guidance on how to optimize your business structure,” she said during a Feb. 6 video presentation. In the presentation, Gant covered other ideas that could work with trucking businesses to reduce tax liability. One strategy is self-rentals. For example, by keeping a truck in your name and renting it to your trucking business, you can claim the depreciation of the vehicle’s value and maintenance costs from your personal taxes while deducting the rental expense from the business. Rental payments aren’t subject to the Self-Employment tax, so your tax bill goes down. Understand the ins and outs of depreciation. Depreciation is a write-off that allows you to deduct the expense of property over an extended period, but it can be complicated to administer. For example, real estate is typically depreciated over 39 years, while a truck could be depreciated over seven years. There are, however, exceptions, such as improvements made to your property (like a new roof on the garage, or new gravel or concrete for a parking pad). Those can be depreciated on different schedules. A tax advisor can help you determine what works best for your business, but the general idea is to claim depreciation when it benefits you most. For instance, if your business lost money in 2024, claiming depreciation to lower your tax bill won’t help. Claiming as much depreciation as you can in your profitable years is preferable. Don’t forget per diem. In a Dec. 30, 2024, blog post, ATBS reminded truckers that the per diem rate for the transportation industry has increased to $80 per full day ($60 per partial day) as of Oct. 1, 2024. Before this increase, per diem rates were $69 for a full day and $51.75 for a partial day. Because the new rate went into effect partway through the calendar year, drivers claiming the per diem on their 2024 returns will need to use the two different rates in their calculations, remembering that the IRS allows for an 80% deduction of the amount used. For truckers who live in Alabama, Florida, Georgia, North Carolina, South Carolina and parts of Tennessee or Virginia, the filing date for 2024 taxes (as well as 2023, if an extension was filed) has been moved to May 1, 2025. It’s only two weeks after the main filing date, but some may find the change helpful. Know which losses can be claimed. Additionally, uninsured or unreimbursed disaster-related losses can be claimed on income tax returns, while any disaster-relief payments received from FEMA or other government agencies are generally not counted as taxable income. Consult your tax professional to be sure. If you bought a truck or trailer in 2024, you’re allowed to take a larger-than-normal deduction of its value from your taxes: The “bonus depreciation” in 2024 was 60%. Since last year wasn’t a high-profit year for many trucking businesses, taking the bonus depreciation may be unnecessary and better saved for 2025 or later tax years — but each business is different. A tax preparation specialist can help with the details. Double check tax forms. Watch out for the 1099-K. The form is used by platforms such as eBay, Venmo and other vendors if the reported payment(s) exceed $5,000. Unfortunately, services like Venmo are used for much more than business payments, and amounts reported as income to the IRS could actually be payments for other purposes. If you receive an incorrect 1099-K, contact the sender. Start early. Finally, ATBS recommends that you gather tax documents as early as possible. You’ll need all income statements, including any 1099s from the health marketplace, interest income, dividends, taxable pensions, Social Security and others. You’ll also need receipts for your business expenses including registration, taxes, fuel and maintenance, miscellaneous items purchased for the truck, and more. The more data you can supply your tax preparation specialist, the more you can save on taxes.

JJ Keller launches virtual reality safety and compliance training for employers

Dana Guthrie - February 11, 2025

NEENAH, Wis. — J. J. Keller & Associates Inc. is announcing the release of virtual reality training, now available in its J. J. Keller Training online solution. “Giving customers a choice in format is important to us,” said Rustin Keller, president, CEO. “Innovating in a way that captures the learner’s imagination and improves engagement is something we seek constantly. I’m really excited about this new option for trainers. One demonstration and it’s clear this changes the way people learn. It’s fantastic.” New Training Format Accessible with a compatible virtual reality (VR) headset, this new training format allows learners to navigate realistic simulations of safety and compliance situations they may encounter in their jobs, according to a company press release. A study conducted last year by the J. J. Keller Center for Market Insights found that 67% of managers surveyed would consider using VR training, representing significant interest and opportunity for this format. “J. J. Keller’s VR training offers various benefits that set it apart from other VR training,” the release said. “Most notably, it fits seamlessly into J. J. Keller’s existing training ecosystem. Customers can enroll learners in VR courses and track their performance in the J. J. Keller Training solution alongside online E-Learning, streaming video, and classroom program formats.” Integration Across Learning Systems “Many companies that offer VR training don’t integrate it into their learning management system, making it impossible for customers who use multiple training formats to keep all their recordkeeping centralized on one platform,” the release said. Customers can also use J. J. Keller’s standard training enrollments on VR training. This is the same type of enrollment used on J. J. Keller’s other training formats. There is no need to purchase any kind of special enrollment at an increased price to enroll learners in VR courses. Other key advantages to VR training include: Improved Engagement & Retention: VR programs offer a more engaging, immersive training experience that increases the likelihood of employees applying their knowledge and skills in the “real world.” “Freedom to Fail”: By navigating dangerous situations in a virtual environment, learners can make mistakes safely while still feeling as though the consequences are real. Convenience: On-the-go or remote employees may rarely be onsite. VR training ensures employees receive the instruction they need, regardless of their location. Cost-Effectiveness: No need to fly professional trainers in for training sessions. Virtual programs provide exceptional training while keeping costs down. At launch, J. J. Keller offers 16 VR training programs: Workplace Safety & Health Arc Flash (Flashover) Confined Space Entry Electrical Safety Fire Safety (The Office) Hazard Recognition – Warehouse Hot Work Ladder Safety Lockout/Tagout Trenching and Excavation Safety Transportation Brake System: Pre-Trip Vehicle Inspection Engine and Front Axle: Pre-Trip Vehicle Inspection In-Vehicle: Pre-Trip Vehicle Inspection Lights: Pre-Trip Vehicle Inspection Walk-Around: Pre-Trip Vehicle Inspection Road Safety Traffic Accident With Dangerous Goods Human Resources Active Shooter Response Training for Civilians (Office) Future Courses J. J. Keller will introduce new VR courses to its library regularly for these and other markets. “By adding virtual reality training to our offerings, we’re providing our customers with an easy way to practice scenarios in a realistic, hands-on environment,” said Lacie Callan, executive vice president of technology solutions. “Whether in a confined space, working with machinery, or inspecting vehicles, virtual reality allows for self-paced learning in all types of situations that prepare employees to safety do their jobs.” Learners must use the J. J. Keller Virtual Reality Training Headset (PICO Neo3) to access these VR courses. The headset is available for purchase from J. J. Keller and provides everything needed to get started. To learn more about J. J. Keller’s virtual reality training and take a free trial, please click here or call 800-327-6868.

Truckworx Kenworth named Kenworth Dealer of the Year

Bruce Guthrie - February 11, 2025

TUSCON, Ariz. — Kenworth has handed out its dealership awards for 2024. For the second straight year, Truckworx Kenworth was named the 2024 Kenworth Dealer of the Year for the United States and Canada at the recent annual Kenworth Dealer Meeting in Tucson, Arizona where the the meeting’s theme was “The World’s Best” and focused on driving sales growth and service excellence. “Wow, what an honor it is to be named Kenworth’s North American dealer of the year back-to-back. I am so proud of the Truckworx team, and we are beyond blessed to have a partner like Kenworth,” said Will Bruser, Truckworx president and chief executive officer. “This is an amazing industry with such great people that help keep America moving every day and we are honored to be a part of it.” “Truckworx Kenworth again demonstrated what being a Kenworth World’s Best Dealer is all about.” said Jim Walenczak, Kenworth general manager and PACCAR vice president. “Earning this award requires exceptional performance in our dealer excellence measurement categories, and to achieve this designation for two-straight years demonstrates next-level dedication, intention and passion. Congratulations to Will, Mike and the entire Truckworx Kenworth team on an outstanding year in 2024.” Truckworx Kenworth’s key achievements included increasing heavy-duty market share, strong PACCAR engine mix, PremierCare Gold leadership, service bay capacity over 100%, reinvesting in their business, strong PACCAR Financial utilization and successful TRP stores. Truckworx Kenworth executives were presented with the esteemed award, an Italian hand-crafted crystal eagle inlaid with 24 karat gold talons. Truckworx Kenworth was also honored with a Dealer Excellence Gold Award. “Winning this award for two consecutive years is truly mind blowing, all credit goes to the Truckworx family. This team truly embraces the responsibility that comes with serving the transportation industry and this award helps validate their hard work and commitment,” said Mike Levering, Truckworx chief operating officer. “I’d like to sincerely thank Kenworth for the recognition and our entire team (and their families) for believing in and staying committed to our culture and mission “do what’s right for the right reasons.” During the Dealer Meeting awards ceremony, Kenworth also presented eight Gold Dealer Excellence Awards, six Silver Dealer Excellence Awards and the following individual achievement awards: Kenworth PremierCare Gold Dealer of the Year CIT Trucks received the Kenworth PremierCare Gold Dealer of the Year award, which promotes the importance of service excellence and the reinvestment in their business and facilities. CIT Trucks maintained 100% PremierCare Gold at all eleven (11) of their locations throughout the entire year. PACCAR Engines Dealer of the Year Kenworth of Louisiana received Kenworth’s PACCAR Engines Dealer of the Year award. Kenworth Louisiana ordered trucks with PACCAR engines, achieved strong heavy-duty market share and impressive PACCAR engine mix. All eight of their locations are PremierCare Gold certified. Kenworth Medium-Duty Dealer of the Year MHC Kenworth – Kansas City was named Kenworth Medium-Duty Dealer of the Year. The dealer retailed medium-duty trucks, had strong medium-duty market share and is a PremierCare Gold leader with all five of their locations PremierCare Gold certified. Kenworth Parts and Service Dealer of the Year MHC Kenworth captured the Kenworth Parts and Service Dealer of the Year award. The dealer exemplified service excellence by achieving 100% PremierCare Gold at all 76 eligible locations. MHC Kenworth was a top performer with strong PACCAR Parts purchase growth, Parts retail sales growth and Parts engine growth. Kenworth Gold Awards The Kenworth Dealer Excellence Gold Award is presented to a select number of Kenworth dealers each year that achieve the highest level of performance in the Kenworth dealer network. Truckworx Kenworth was selected as Kenworth Dealer of the Year from among Kenworth’s eight Gold Award winners for 2024. The other gold award winners are: MHC Kenworth – Kansas City achieved impressive heavy-duty and medium-duty market share, achieved strong Parts purchase growth, Parts engine growth and service capacity over 100%. GreatWest Kenworth was recognized for growing heavy-duty market share, Parts fleet growth, Parts engine growth and high service capacity. MHC Kenworth – Oklahoma achieved strong heavy-duty market share and heavy-duty market share growth, Parts engine growth and all three of their locations are PremierCare Gold certified CIT Trucks was recognized for their heavy-duty market share growth, PACCAR engine mix, Parts purchase growth and are 100% PremierCare Gold certified at all locations. Kenworth Northeast Group achieved strong heavy-duty market share growth, PACCAR engine mix, Parts purchase growth and Parts retail sales growth. Inland Kenworth (U.S.) was recognized for their strong reinvestment rate, Parts engine growth, Parts purchase growth and are 100% PremierCare Gold certified at all 9 locations. Wisconsin Kenworth ranked high in heavy-duty market share growth, PACCAR engine mix, PACCAR Financial heavy-duty market share and are 100% PremierCare Gold certified at all locations. Kenworth Silver Awards The Kenworth Dealer Excellence Silver Award is presented to a select number of Kenworth dealers each year that exemplify service, sales, operations and facility excellence among the Kenworth dealer network. These six dealers include: MHC Kenworth – Colorado, MHC Kenworth – Georgia, Roberts Kenworth, Wallwork Kenworth, Kenworth Maska, MHC Kenworth of South Texas. Kenworth Dealer Major Anniversaries Kenworth also celebrated major Kenworth dealer anniversary milestones reached in 2024: 75 years – Rihm Kenworth; 55 years – Wallwork Kenworth; 50 years – MHC Kenworth; 35 years – Sioux Falls Kenworth; 25 years – Gabrielli Kenworth.

Diesel prices remain steady

Bruce Guthrie - February 11, 2025

After a week that saw virtually no movement in the price of diesel per gallon, prices this week rose, but only by a half cent nationally. The average price of diesel ticked up slightly from $3.660 to $3.665. The price hasn’t moved but $.006 per gallon in two weeks, with the majority of that movement coming this week. As always, the regional prices are the reason for the little-to-no movement. The major movers in price are out west. The West Coast Region rose by nearly two cents from $4.289 to $4.307 while the West Coast less California Region rose nearly three cents from $4.857 to $4.883. The sharpest increase came in the Rocky Mountain Region hiking more than five cents from $3.471 to $3.528. The east offset some of the price increases in the west. The Lower Atlantic Region dropped two cents from $3.682 to $3.661 per gallon of diesel.

Top dealers honored by Peterbilt for outstanding performance in 2024

Dana Guthrie - February 11, 2025

DENTON, Texas — Peterbilt is recognizing its top performing dealers for 2024. “We congratulate these award-winning dealers for achieving excellence across all areas of their business, for their commitment to delivering superior customer service and support to our customers and for being the best representation of Peterbilt Class,” said Danny Landholm, director of dealer network development. The awards were presented at its recent Dealer Meeting in Tucson, Ariz. It previously recognized The Peterbilt Store as North American Dealer of the Year. The winning Dealer groups achieved top performance in specific categories, highlighting exceptional results and leadership in the dealer network. Sales Excellence Dealer of the Year: Dobbs Peterbilt Medium Duty Dealer of the Year: Rush Peterbilt Truck Centers Service Dealer of the Year: Stahl Peterbilt PACCAR MX Engine Dealer of the Year: Performance Peterbilt Parts Dealer of the Year: Ohio Peterbilt eCommerce Dealer of the Year: Dimmick Group Peterbilt TRP Dealer of the Year: TLG Peterbilt Red Oval & Used Truck Dealer of the Year: TLG Peterbilt Best in Class Peterbilt also presented the Best-in-Class Dealer Group of the Year awards, which are based on a combination of Peterbilt’s Standard of Excellence scores, financial performance, parts and service performance and utilization of PACCAR trainings and programs. Allstate Peterbilt Group Jackson Group Peterbilt Peterbilt of Atlanta Stahl Peterbilt LaBeau Bros. Peterbilt Hunter Peterbilt The Peterbilt Store TLG Peterbilt For more information about the Peterbilt dealer network visit: https://www.peterbilt.com/why-peterbilt/dealer-network.

FTR, Truckstop: Spot rates decline for all equipment types in Feb. 7 report

Dana Guthrie - February 11, 2025

BLOOMINGTON, Ind. — Broker-posted spot market rates in the Truckstop system decreased week over week for all equipment types during the week ending Feb. 7. “Data from Truckstop and FTR Transportation Intelligence for the week ended Feb. 7 showed decreases in broker-spot rates that generally were in line with seasonal expectations for all equipment types,” FTR said in a press release. “Dry van spot rates were at their lowest level since mid-November and refrigerated spot rates fell to their lowest level since April. Flatbed rates were more stable, however. Aside from the prior week, flatbed spot rates were the highest since late October. During the current week (week ending February 14), refrigerated spot rates almost always fall, while dry van and flatbed spot rates have been less consistent over time.” Total market volume was up slightly year over year solely due to flatbed as dry van and refrigerated load postings have lagged comparable 2024 levels for most of the year so far. The modest increase in load postings coupled with a notable decrease in truck postings resulted in a Market Demand Index of 77.9, the highest level in three weeks. Total Spot Load Availability Total load activity increased 2.6% after rising 4% during the previous week. Volume was about 2% above the same 2024 week but about 30% below the five-year average for the week. The positive y/y comparison is due solely to flatbed as dry van and refrigerated volume has lagged prior-year levels significantly for most of the year so far. Total truck postings fell 9.4%, and the Market Demand Index – the ratio of load postings to truck postings in the system – rose to its highest level in three weeks. Total Spot Rates The total market broker-posted spot rate fell 2 cents after ticking up a tenth of a cent in the prior week. Rates, which have fallen in five of the last six weeks, were down 2.5% from the same 2024 week and about 8% below the five-year average for the week. Rates excluding a calculated surcharge were down a little more than 1% y/y. During the current week (week 6), refrigerated spot rates almost always fall while dry van and flatbed spot rates have been less consistent. Dry Van Spot Rates Dry van spot rates decreased nearly 5 cents after falling about 9 cents in the previous week. Rates were more than 5% below the same 2024 week and almost 12% below the five-year average for the week. Rates excluding a calculated fuel surcharge were down nearly 5% y/y. Dry van loads decreased 11%. Volume was more than 21% below the same 2024 week and more than 43% below the five-year average. Refrigerated Spot Rates Refrigerated spot rates fell about 13 cents after dropping about 10 cents during the prior week. Rates were 5% below the same 2024 week and close to 12% below the five-year average for the week. Rates excluding a calculated fuel surcharge were down 4.5% y/y. Refrigerated loads dipped 0.2%. Volume was 13% below the same 2024 week and almost 42% below the five-year average. Flatbed Spot Rates Flatbed spot rates declined 1.5 cents after rising 4.5 cents in the previous week. Rates were 2.5% below the same 2024 week and more than 7% below the five-year average for the week. Rates excluding a calculated fuel surcharge were down more than 1% y/y. Flatbed loads rose 11.8%. Volume was more than 25% above the same 2024 week but close to 26% below the five-year average.

ATRI seeking insights on motor carrier hiring practices

Dana Guthrie - February 11, 2025

WASHINGTON – The American Transportation Research Institute (ATRI) is asking motor carriers to participate in a new survey examining hiring practices for truck drivers with prior criminal convictions. “As the industry continues to seek out solutions to its various workforce challenges, there is a new emphasis on the possibilities of hiring truck drivers with criminal histories,” said Robyn Smith, director of driver Relations for May Trucking Company. “However, there is limited data on how to successfully integrate these individuals into motor carrier operations. “ATRI’s research will provide value insight to help the industry balance safety, compliance, and workforce development.” Workforce Challenges As the trucking industry tackles truck driver workforce challenges, ATRI’s Research Advisory Committee is prioritizing this study. Its aim is to explore underrepresented hiring pathways, including individuals with criminal histories. The survey examines motor carrier hiring practices, decision-making factors, and workforce reintegration strategies. Optional follow-up research interviews for further insights may also be available. All responses will remain strictly confidential. Motor carriers are encouraged to participate in the survey by clicking here.

Jack Cooper shutting its doors in wake of losing Ford, GM contracts

Dana Guthrie - February 10, 2025

In the wake of losing two key players, Ford Motor Company and GM, Jack Cooper is shutting down after nearly 100 years of service. After contract negotiations talks with GM broke down on Friday, the decision was made to begin the process of winding down operations. When Ford unexpectedly canceled its contract with Jack Cooper in January, the Teamsters’ Union vowed to fight, Blame Game Both Jack Cooper and GM have each pointed at the other for the demise. “For the past several weeks Jack Cooper has negotiated in good faith with General Motors to agree on a continued business relationship,” said Sarah Amico, Jack Cooper’s executive chair. “Jack Cooper and General Motors have been in business together since 1928, and Jack Cooper has proudly won GM’s “Supplier of the Year” award three times in the last fifteen years. Nevertheless, on Thursday, February 6th, Jack Cooper learned that GM instructed its teams to stop providing vehicles to Jack Cooper for hauling.” According to The Detroit Free Press, GM spokesman Kevin Kelly confirmed the work stoppage. “We can confirm that Jack Cooper Transport management has informed us of their plans to unilaterally stop services to GM, effective immediately,” Kelly said. “In light of this material breach of their agreement and the ongoing and timely needs of GM’s business, we have no choice but to implement contingency plans with other providers. We do not anticipate any further disruptions to the delivery of our vehicles.” Going Forward According to KCTV5 in Kansas City, Mo., Amico commended the faithful employees of Jack Cooper in a letter sent to its workers. “For nearly a century, Jack Cooper has set the standard in finished vehicle logistics,” Amico said in a letter to employees “We have been proudly Women-Owned, union and family-operated. We have won numerous industry awards, given back to the communities where we live and work, and proudly employed generations of employees across the country. Each of you has been a key part of that legacy, and your work is deeply appreciated.” Teamsters Statement “While Jack Cooper may be winding down its operations with Ford and GM, that does not mean the jobs of well-paid, union-protected Teamsters are leaving the industry,” a Teamsters spokesperson told KCTV5. “This is Teamster work.” According to Teamsters, the work of union members will not end with the closure of Jack Cooper’s doors. Members will follow the work under the national contract, regardless of employer. “The Teamsters will defend our work and our members in carhaul at all costs. No matter what contractor is working with companies like Ford and GM, Teamsters will ultimately be pulling the vehicles,” a union spokesperson said.

Platform Science acquires Trimble’s global transportation telematics business units

Dana Guthrie - February 10, 2025

WESTMINSTER, Colo. and SAN DIEGO, Calif. — Platform Science is announcing the completion of its acquisition of Trimble’s global transportation telematics business units. “Together with Trimble, we are dedicated to transforming the global transportation industry. This transaction marks a milestone in how we deliver unprecedented choice to fleets of all sizes,” said Jack Kennedy, co-founder, CEO, Platform Science. “Innovation drives everything we do. We are empowering the collective minds of developers to easily attack the massive inefficiencies that have plagued transportation across a critical mass of vehicles globally.” The deal was first announced in September 2024 during the Trimble Insight Tech Conference in Las Vegas. Business Expansion As part of the transaction, Trimble becomes a shareholder in Platform Science’s expanded business. Trimble will also recieve a seat on Platform Science’s board of directors. Trimble is joining C.R. England, Cummins, Daimler Truck, PACCAR, Prologis, RyderVentures and Schneider as a strategic investor in Platform Science. The collaboration accelerates the future of transportation technology through the global expansion of Virtual Vehicle, Platform Science’s open, connected vehicle application platform developed in collaboration with leading OEMs. Customers around the globe will soon be able to choose application solutions from Platform Science, Trimble and numerous partners in a growing catalog without changing hardware through Virtual Vehicle’s expansion. Virtual Vehicle offers fleets access to a wide range of telematics, driver and fleet management software through OEM vehicle architecture or aftermarket hardware for non-compatible vehicles, creating a uniform experience for users and developers and ensuring ease-of-use regardless of vehicle or hardware type. Moving Forward “As we move forward combining Trimble’s global telematics business units with Platform Science, our commitment to serving our customers has never been stronger,” said Rob Painter, president, CEO of Trimble. “This transaction creates opportunities for Trimble to further connect people, data, workflows and ecosystems across the global transportation lifecycle — from planning and procurement to execution and delivery.” According to a joint press release, the transaction is expected to further strengthen and accelerate Trimble’s Connect and Scale strategy. It will be providing additional focus on priority growth areas for Trimble. Those areas include Enterprise, Maps, Vusion and Transporeon business units, which are not included in the transaction and will remain part of Trimble’s Transportation & Logistics segment.

Werner reports total revenue down 8% for 2024

Dana Guthrie - February 10, 2025

OMAHA, Neb. — Werner Enterprises Inc. is reporting a downturn in the company’s total revenue for 2024. “The fourth quarter included several puts and takes that are more one-time in nature,” said Derek Leathers, chairman, CEO. “While the freight market continues to present challenges, fourth quarter provided early signs of an improving environment. One-Way revenue per total mile increased year-over-year for the second consecutive quarter. Peak season was better than expected with peak volumes that were two times last year at higher rates. Dedicated average fleet size grew sequentially, and we are proud of the numerous Carrier of the Year awards during 2024 from Dedicated customers. “Our Logistics division reported adjusted operating income that improved sequentially and represented the best quarter of the year. “While our fourth quarter insurance expense was elevated due to unfavorable development on large dollar claims, our safety metrics remain near record low levels. During this downturn, we have focused on controlling what we can by investing in ourselves and making strategic decisions that position us favorably for creating long-term value for our shareholders as conditions improve.” Q4 Decrease Total revenues for the quarter were $754.7 million, a decrease of $67.3 million compared to the prior-year quarter, due to a $52.8 million, or 9%, decrease in Truckload Transportation Services (“TTS”) revenues and a decline in Logistics revenues of $13.8 million, or 6%. A portion of the TTS revenue decline was due to $27.1 million lower fuel surcharge revenues. Net of trucking fuel surcharge revenues, consolidated total revenues decreased $40.2 million, or 5%, during the quarter. Operating income of $13.4 million decreased $24.6 million, or 65%, while operating margin of 1.8% decreased 280 basis points. On a non-GAAP basis, adjusted operating income of $12.2 million decreased $27.0 million, or 69%. Adjusted operating margin of 1.6% declined 320 basis points from 4.8% for the same quarter last year. “During the quarter, we incurred $49.5 million of insurance and claims expense, of which $19 million resulted from unfavorable development on large dollar claims, contributing 250 basis points of the year-over-year decrease in adjusted operating margin, and $0.22 of negative impact to non-GAAP adjusted diluted EPS,” Werner said in a press release. “This is a reflection of the ongoing unprecedented rise in verdicts and litigation settlements across the industry, particularly for larger carriers. In contrast to these trends, in 2024 we produced near 20-year record lows in U.S. Department of Transportation preventable accidents per million miles, trailing only 2023.” Unfavorable Claims TTS operating income and adjusted operating income both decreased $22.6 million, largely driven by the $19 million of unfavorable claims development during the fourth quarter. Logistics operating income decreased $3.3 million and adjusted operating income decreased $0.6 million. Corporate and Other (including driving schools) operating income was $0.4 million compared to $1.0 million operating loss in prior year. Net interest expense of $9.5 million increased $2.2 million primarily due to the impact of replacing lower-cost debt and interest rate swaps with higher-cost debt and interest rate swaps upon certain maturities in the second quarter. The effective income tax rate during the quarter decreased to 7.3%, compared to 23.1% in fourth quarter 2023 driven by certain discrete return-to-provision adjustments for a prior year. Q4 Gains “During fourth quarter 2024, we had gains on our strategic investments of $8.7 million, or $0.10 per share, compared to losses of $0.3 million in fourth quarter 2023,” Werner said. “Consistent with prior reporting, increases or decreases to the values of these strategic investments are adjusted out for determining non-GAAP adjusted net income and non-GAAP adjusted earnings per share.” Net income attributable to Werner of $11.9 million decreased 50%. On a non-GAAP basis, adjusted net income attributable to Werner of $4.7 million decreased 81%. Diluted EPS of $0.19 decreased 48%. On a non-GAAP basis, adjusted diluted EPS of $0.08 decreased 80%, including $19 million of unfavorable claims development during the quarter. Truckload Transportation Services (TTS) Segment Revenues of $527.3 million decreased $52.8 million; trucking revenues, net of fuel surcharge, decreased 6% year over year. Operating income of $11.7 million decreased $22.6 million; non-GAAP adjusted operating income of $14.6 million decreased $22.6 million due largely to $19 million of unfavorable claims development in the quarter, a smaller fleet size, and lower gains on the sale of property and equipment (down 55%). Operating margin of 2.2% decreased 370 basis points from 5.9%; non-GAAP adjusted operating margin, net of fuel surcharge, of 3.1% decreased 440 basis points from 7.5%. Average segment trucks in service totaled 7,495, a decrease of 673 trucks year over year, or 8.2%. Dedicated unit trucks at quarter end totaled 4,840, or 65% of the total TTS segment fleet, compared to 5,265 trucks, or 66%, a year ago. Average revenues per truck per week, net of fuel surcharge, increased 2.5% for TTS. During fourth quarter 2024, Dedicated experienced net reduction in average trucks, down 7.7% year over year and up 27 trucks, or 0.1%, sequentially. Quarter-end fleet size was down 8.1% year over year and down 1.3% sequentially. Dedicated average revenues per truck per week, net of fuel surcharge, increased 1.1% year over year. Despite a highly competitive environment, pipeline opportunities are strong and customer retention is over 90%. One-Way Truckload volume was seasonally stronger than 2023. 2024 more than doubled the number of premium-rated peak shipments and improved y/y in rate. One-Way revenues per total mile, net of fuel surcharge, increased 3.3% year over year. Despite a 9.2% decline in One-Way average trucks, One-Way Truckload miles were only down 7.6%, due to the impact of a 1.7% increase in miles per truck per week, the seventh consecutive quarter of improvement. Werner Logistics Segment Revenues of $213.2 million decreased $13.8 million, or 6%. Operating income of $1.2 million decreased $3.3 million; non-GAAP adjusted operating income of $2.4 million decreased $0.6 million. Operating margin of 0.6% decreased 140 basis points from 2.0%; non-GAAP adjusted operating margin of 1.1% decreased 20 basis points from 1.3%. Truckload Logistics revenues (76% of Logistics revenues) decreased $11.0 million, or 6%, driven by a decline in revenue per shipment and a decrease in shipments. Brokerage volumes decreased year over year while Power Only volume increased over 21%, marking the eighth consecutive quarter of Power Only volume growth. Intermodal revenues (13% of Logistics revenues) increased $0.5 million, or 2%, due to an increase in shipments, partially offset by lower revenue per shipment year over year. Final Mile revenues (11% of Logistics revenues) decreased $3.3 million, or 12%, due to lower volumes in furniture and appliance vertical. Logistics operating income decreased $3.3 million and adjusted operating income decreased $0.6 million year over year in fourth quarter 2024. While Truckload Logistics continues to operate in an ongoing competitive environment, fourth quarter was our highest operating income and operating margin quarter since 2023 driven by sequentially higher revenue combined with further cost savings actions taken during the quarter. Cash Flow and Capital Allocation Cash flow from operations in fourth quarter 2024 was $71.0 million compared to $118.3 million in fourth quarter 2023, a decrease of 40%. Net capital expenditures in fourth quarter 2024 were $28.8 million compared to $34.5 million in fourth quarter 2023, a decrease of 17%. We continue to prioritize business reinvestment in safe and modern equipment, including trucks and trailers, as well as in technology, our terminal network and our talent. The average ages of our truck and trailer fleets were 2.1 years and 5.3 years, respectively, as of December 31, 2024. Maintaining an industry-leading low-age, modern fleet improves our driver experience and results in more effective equipment maintenance, safety and fuel efficiency. Gains on sales of property and equipment in fourth quarter 2024 were $6.5 million, or $0.07 per share, compared to $3.1 million, or $0.04 per share, in fourth quarter 2023. Gains in fourth quarter 2024 included $5.1 million gain from selling a parcel of real estate, which is adjusted out of income for purposes of the non-GAAP measures. Excluding the gain on real estate, gains on sale of used equipment were down year-over-year by $1.7 million, or 55%, driven by a change in the mix of equipment sold. We sold fewer trucks compared to prior year, but at modestly improved average unit gains. Gains on sales of property and equipment are reflected as a reduction of other operating expenses in our income statement. Final Comments “We did not repurchase shares of our common stock in fourth quarter 2024,” Werner said. “As of December 31, 2024, we had 3.9 million shares remaining under our share repurchase authorization. As of December 31, 2024, we had $41 million of cash and cash equivalents and $1.5 billion of stockholders’ equity. Total debt outstanding was $650 million at December 31, 2024, flat year over year. After considering letters of credit issued, we had available liquidity consisting of cash and cash equivalents and available borrowing capacity as of December 31, 2024 of $460 million.”

Kenworth Mixer auction raises more than 200K

Bruce Guthrie - February 10, 2025

KIRKLAND, Wash. — One partnership, one night raised a lot of money for charity. Kenworth, Con-Tech Manufacturing, and Rihm Kenworth recently partnered to donate a special Kenworth T880S 11-yard Con-Tech BridgeKing Mixer to raise money for charity. The mixer truck was recently shown at World of Concrete in Las Vegas. During a live auction, the T880S mixer was sold to New London, Minnesota-based Crow River Construction for $260,000. All proceeds of the sale were given to Con-Tech-designated charities, including Ronald McDonald House® of Rochester, Minnesota, Make-A-Wish® Foundation of Minnesota, St. Jude’s Children’s Research Hospital, Child Liberation Foundation, among others. The T880S, with a set-forward front axle, helps mixer customers comply with federal bridge formulas. The truck is powered by a PACCAR MX-11 engine. Crow River Construction launched its ready-mix division in 2021 and has built an all-Kenworth ready-mix fleet comprised of 14 Kenworth T880 and W900 trucks. “The timing was perfect. We were looking to add another T880 mixer to our fleet when our contacts at Rihm Kenworth and Con-Tech reached out about the auction,” said Kraig Hanson, Crow River Construction owner. “It was awesome to purchase a new truck that’s a good fit for our operation while seeing that money donated to some incredible charity organizations that are making a difference in our local communities in Minnesota and beyond.” “This auction is a significant fundraising initiative that resulted in a remarkable donation to charity organizations that all of us at Con-Tech deeply value,” said Dan Welsh, president of Con-Tech Manufacturing in Dodge Center, Minnesota. “We greatly appreciate Crow River Construction for purchasing this truck to help make this happen.” “It was great to team up with Con-Tech, Rihm Kenworth, and other contributing suppliers to build this truck and help raise money for some incredible charity organizations,” said Kyle Kimball, Kenworth director of marketing. Crow River Construction, founded in 2013, specializes in sewer and water, and utility construction work in addition to its ready-mix services and aggregate material sales. Company-wide, the firm operates 28 Kenworth trucks, including T880, W990, and W900 models. Crow River Construction works with Rihm Kenworth – Sauk Centre, their local Kenworth dealer. “Kenworth trucks make up the majority of our fleet, and they are very reliable for us,” said Hanson. “We have a great relationship with Rihm. They’ve done a great job supporting our company by equipping us with trucks that match our operational needs.”

NHTSA issues safety recalls for several models of big rigs

Bruce Guthrie - February 10, 2025

Several models of medium-duty Kenworth and Peterbilt trucks, heavy-duty Freightliner and Volvo electric tractors, and Hino models are on a recall list from the National Highway Traffic Safety Administration. Kenworth models 2025 T180, 2025-26 T280, 2023-26 T380, and 2024-2026 T480 as well as 2025 model Peterbilt 535, 2024-26 model 536, 537, 548 along with 2025 model 567 have been recalled for an exterior light switch failure. Freightliner E-Cascadia and EM2 rigs have been recalled for a loss of drive power. Also model years 2023-25 of Volvo VNRE electric trucks are being recalled. NHTSA says the battery may short and cause fire. Hino models NH7A, NJ7A, NJ7B, NJ7A, NJ7C, NV7A, NV7B, NV7C, model years 2022-25 are being recalled because the front right air brake tube can be damaged and leak. When a manufacturer or the National Highway Traffic Safety Administration (NHTSA) determines that a vehicle creates an unreasonable risk to safety or fails to meet minimum safety standards, the manufacturer is required to fix that vehicle at no cost to the owner. That can be done by repairing it, replacing it, offering a refund (for equipment) or, in rare cases, repurchasing the car. NTHSA says the vehicle should be fixed as soon as possible given the potential danger if not addressed. Owners should also receive a separate letter in the mail from the vehicle manufacturer, notifying of the recall and explaining when the remedy will be available, whom to contact to repair the vehicle, and to remind that the repair will be done at no charge.

Trump says he will announce 25% steel and aluminum tariffs Monday, and more import duties are coming

The Associated Press - February 10, 2025

WASHINGTON (AP) — President Donald Trump said he will announce on Monday that the United States will impose 25% tariffs on all steel and aluminum imports, including from Canada and Mexico, as well as other import duties later in the week. “Any steel coming into the United States is going to have a 25% tariff,” he told reporters Sunday on Air Force One as he flew from Florida to New Orleans to attend the Super Bowl. When asked about aluminum, he responded, “aluminum, too” will be subject to the trade penalties. Trump also reaffirmed that he would announce “reciprocal tariffs” — “probably Tuesday or Wednesday” — meaning that the U.S. would impose import duties on products in cases where another country has levied duties on U.S. goods. “If they are charging us 130% and we’re charging them nothing, it’s not going to stay that way,” he told reporters. Trump’s comments are the latest example of his willingness to threaten, and in some cases to impose, import taxes. Tariffs are coming much earlier in his presidency than during his previous four years in the White House, when he prioritized tax cuts and deregulation. Trump has alternately said he sees import taxes as tools to force concessions on issues such as immigration, but also as a source of revenue to help close the government’s budget deficit. Financial markets fell on Friday after Trump first said he would impose the reciprocal tariffs. Stock prices also dropped after a measure of consumer sentiment declined on Friday, largely because many respondents cited tariffs as a growing worry. The survey also found that Americans are expecting inflation to tick up in the coming months because of the duties. Trump on Sunday did not offer any details about the steel and aluminum duties, or the reciprocal tariffs. Trump previously threatened 25% import taxes on all goods from Canada and Mexico, though he paused them for 30 days barely a week ago. At the same time, he proceeded to add 10% duties on imports from China. Yet on Friday, he said he would also delay the tariffs on the millions of small packages — often from fast-fashion firms such as Temu and Shein — until customs officials can figure out ways to impose them. The small packages have previously been exempt from tariffs. Trump’s latest remarks stirred immediate worry from some global trading partners. South Korea’s acting president, Choi Sang-mok, called a meeting with the country’s top foreign policy and trade officials on Monday to examine how Trump’s proposed tariffs on steel and aluminum would affect its industries. The office of Choi, who also serves as the country’s finance minister, said officials discussed the potential impact and Seoul’s possible responses, but specific details of the meeting were not disclosed. The stock prices of major South Korean steelmakers, including POSCO and Hyundai Steel, dropped as the market opened on Monday. South Korea shipped about $4.8 billion worth of steel to the United States from January to November last year, which accounted for 14% of its global exports of the products during the period. Superville reported from aboard Air Force One. Associated Press writer Kim Tong-hyung in Seoul, South Korea, contributed to this report.

Amazon to pay nearly $4M to settle lawsuit alleging it took tips from drivers

The Associated Press - February 9, 2025

Amazon has agreed to pay nearly $4 million to settle charges that the e-commerce company subsidized its labor costs by taking tips its delivery drivers received from customers, District of Columbia Attorney General Brian L. Schwalb said Friday. The settlement came four years after Amazon forked over $61.7 million to resolve a complaint the Federal Trade Commission brought over similar accusations. In 2022, the office of DC’s attorney general at the time followed up with a lawsuit alleging Amazon violated the District’s consumer protection laws by misleading residents about how tips paid digitally were used. According to the lawsuit, the affected drivers were part of Amazon’s Flex business, which allows people to deliver Amazon packages with their own cars. DC’s lawsuit said that after launching the program in 2015, the company represented to consumers that all tips added during check-out for Amazon Flex orders would go to drivers. But both the District and the FTC alleged that Amazon changed its payment model in late 2016 to lower its costs but did not disclose the switch to either customers or drivers.

A purr-fect fit: Pet Valu adds two Volvo VNR Electric trucks to its fleet

Dana Guthrie - February 7, 2025

Volvo Trucks North America customer, Pet Valu, is adding two Volvo VNR Electric trucks to its fleet as part of the company’s ongoing supply chain transformation. Pet Valu is a Canadian specialty retailer of pet food and pet-related supplies. The zero-tailpipe emission trucks will help the company achieve its vision of building Canada’s strongest pet specialty distribution network. “We are excited to see Pet Valu taking the initiative in the Canadian pet supply industry by adopting Volvo’s VNR Electric trucks,” said Matthew Blackman, managing director for Canada, Volvo Trucks North America. “As they venture into sustainable transportation, this effort is expected to not only strengthen their supply chain but also help support a healthier planet, one ‘purr-fectly’ quiet kilometer at a time.” Sustainable Transportation The two Volvo VNR Electric trucks will operate from Pet Valu’s new 350,000-square-foot LEED-Gold certified distribution center. The battery-electric trucks are expected to play an important role in its pursuit to optimize its energy efficiency and emissions management. The trucks will deliver pet food and supplies to the Pet Valu family of stores, including Pet Valu, Bosley’s by Pet Valu, Total Pet and Tisol throughout British Columbia five days a week, traveling an average of 300 kilometers (186 miles) per day. Each of Pet Valu’s new Class 8 Volvo VNR Electric day cabs is equipped with a six-battery pack configuration, providing a range of up to 442 kilometers (275 miles) per charge. The trucks will be charged overnight at the Surrey distribution center using two newly installed 120kW chargers. Better Driver Experience According to a press release, the near-silent operation of the Volvo VNR Electric trucks provides drivers with a more comfortable driving experience while also reducing noise pollution in local communities. This is especially beneficial for early morning or late evening deliveries to urban and regional deliveries, ensuring a community-friendly solution. “At Pet Valu, we are committed to continuously improving how we serve devoted pet lovers and their pets,” said Nico Weidel, chief supply chain officer, Pet Valu. “Each electric delivery truck represents an opportunity to avoid consuming over 25,000 litres of diesel fuel or over 62 tonnes of CO2e per year. We’re excited to explore how these trucks perform and assess the potential for further electrification of our delivery fleet in the future.” Perfect Pairing In addition to deploying the trucks, Pet Valu worked closely with the Volvo Trucks sales team to identify and secure funding opportunities that partially offset the cost of the vehicles and charging infrastructure. Pet Valu utilized federal and provincial incentive programs, including Clean BC – Go Electric and iMHZEV (Incentives for Medium- and Heavy-Duty Zero-Emission Vehicles), to support the adoption of these battery-electric trucks. The company may also be eligible for carbon credits based on fuel savings and yearly mileage, making this transition even more impactful for their business.

Peterbilt recognizes The Peterbilt Store as North American Dealer Group of the Year

Dana Guthrie - February 7, 2025

DENTON, Texas — Peterbilt is announcing The Peterbilt Store as its 2024 North American Dealer Group of the Year. The award will be presented at its annual Dealer Meeting in Tucson, Ariz. held February 5-7. “Recognizing The Peterbilt Store as the 2024 Dealer Group of the Year gives us great pride as we acknowledge their dedication to providing extraordinary service to our customers,” said Jake Montero, general manager and PACCAR vice president. “This dealer group has built a great reputation amongst customers. Their timely investments in facilities, ability to offer Peterbilt’s full lineup of products and services, unparalleled parts availability and superior service to Peterbilt customers are commendable.” Prestigious Honor The recognition is given to the dealership group that earns the highest scores in Peterbilt’s rigorous Standards of Excellence program. The dealership also demonstrates commitment to customer satisfaction and leverages effective practices to increase brand advocacy. Rules of the Road “We are honored to receive this prestigious award,” said John Arscott, The Peterbilt Store CEO. “The Rules of the Road that we established over two decades ago continue to serve as the guiding principles in how we operate and what to expect from The Peterbilt Store; honesty, integrity, value and meaningful relationships.” The Peterbilt Store operates 30 dealership locations across the East Coast. This marks the 4th Dealer Group of the Year award for the store. It was also honored in 2004, 2017 and 2019. The Peterbilt Store also received recognition as a Best-in-Class Dealer Group.

2024’s Best of the Best: BRW reveals its Top Contract Carriers

Dana Guthrie - February 7, 2025

OXFORD, Ala. — BRW is announcing its Top Contract Carriers for 2024. “We are incredibly proud to recognize these outstanding carriers as our Top Contract Carriers for 2024, said Thomas “TK” Bardwell, senior vice president of logistics. “Their unwavering commitment to excellence, reliability, and customer satisfaction is the foundation of our success. It is truly a pleasure to work with such dedicated and professional teams who share our passion for delivering exceptional service. On behalf of everyone at BRW, thank you for your partnership, and congratulations on this well-deserved recognition. Here’s to another year of collaboration and shared success.” BRW’s Top Contract Carriers for 2024 4M Express Adams Motor Express BCP Transportation E & E Transfer Company EIB Transport Inc Evergreen Forest Products Goblin Express LLC H&M Trucking, Inc J Par Trucking Inc Landstar M&R Trucking PAM International Inc Pink Panthers, Inc. R and L Carriers Xtreme Logistics Exceptional Performance The winning companies have demonstrated exceptional performance, dedication and commitment throughout 2024, according to a BRW press release. They are being recognized for embodying the core values of innovation, integrity and excellence. The selection process for the BRW Top Contract Carriers involved a comprehensive evaluation based on: Service. Safety. Integrity. Volume. Tracking. Communication. Billing Accuracy and Timeliness. According to the release, each of these carriers has exemplified a steadfast commitment to excellence, consistently meeting and surpassing the rigorous standards set by BRW. Backbone of Success “Our core carriers are the backbone to our success at BRW,” said Johnny Ross, senior broker. “We have some of the toughest carrier requirements out there, and this list represents only the top 15, but there are dozens more who fell just below #15 who are just as crucial. Through our partnerships and your help, we could not succeed in delivering on the promises and needs of our customers. Thank you all, here’s to a promising 2025.” Looking Ahead “On July 10, 2024, BR Williams Logistics, LLC was acquired by Haney and White, marking the beginning of BRW and an exciting new chapter for our company,” said Nate Haney, CEO. “With this partnership, we are expanding and strengthening our logistics department, opening new opportunities for growth and innovation across the county. We’re thrilled to continue delivering exceptional service to our customers with even greater resources and expertise. The future is bright, and we’re excited to grow together.”