Transport Topics

To address a shortage of spaces, Ohio is converting more than a dozen weigh stations into truck parking lots and modernizing rest areas. “We know that truck parking is in short supply. Given the increases we continue to see in truck traffic, demand continues to climb,” noted Matt Bruning, press secretary for the central office of Ohio Department of Transportation. “Shortages continue to be concentrated along our major freight corridors like I-70, I-71 and I-75.” Learn more about your ad choices. Visit podcastchoices.com/adchoices

In the lead up to this year’s midterms, President Joe Biden has traveled the country to remind constituents of the Infrastructure Investment and Jobs Act’s potential benefits on matters related to broadband internet, electric vehicles and supply chain connectivity. Republicans, meanwhile, continue to criticize Biden administration policies. Specifically, most of the GOP blames the White House for prices at the grocery store and at the gas station. Election Day is today, so it will have to be seen which party’s narrative is successful at the polls. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Drew Wilkerson,CEO of newly launched RXO, says the brokerage business will emphasize technology advances to gain market share. Wilkerson made the comments Nov. 3 in an interview with Transport Topics reporter Connor Wolf. RXO officially became a stand-alone company on Nov. 1. It marks the second major spinoff for XPO Logistics, whose contract logistics business became GXO Logistics in August 2021. Wilkerson said XPO’s next move would be to sell or divest its European operations and become a pure-play less-than-truckload company. Learn more about your ad choices. Visit podcastchoices.com/adchoices

The Rhode Island Department of Transportation has filed an appeal challenging a district federal court judge’s ruling declaring unconstitutional the state’s controversial trucks-only tolling plan. Learn more about your ad choices. Visit podcastchoices.com/adchoices

The Federal Reserve pumped up its benchmark interest rate Nov. 2 by three-quarters of a point for a fourth straight time, but hinted that it could soon reduce the size of its rate hikes.The Fed’s move raised its key short-term rate to a range of 3.75% to 4%, its highest level in 15 years. It was the central bank’s sixth rate hike this year. But the Fed also suggested that it could soon shift to a more deliberate pace of rate increases, and that in coming months it would consider the cumulative impact of its large rate hikes on the economy. Learn more about your ad choices. Visit podcastchoices.com/adchoices

XPO Logistics Inc. turned its tech-enabled brokered transportation platform into an independent, publicly traded company Nov. 1. The new company, named RXO, will broker truckload freight via a proprietary digital freight marketplace that provides access to truckload capacity and complementary brokered services for managed transportation, last-mile and freight forwarding, the company said. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Eyes are back on the rail industry, as a number of groups in the transportation sector last week signed onto a letter urging the White House to continue to seek a settlement in the Class I rail contract dispute that could result in a nationwide rail strike. While an agreement was brokered in mid-September, to date, six of the 12 main rail unions, including two of the largest, have ratified the agreement, two have rejected it and four other unions are set to vote on the tentative package in the coming days. The letter from industry stakeholders warns that a strike could hit the economy hard. Learn more about your ad choices. Visit podcastchoices.com/adchoices

No tricks here on Halloween, just treats for Universal Logistics, which on Friday reported all-time records for total operating income and earnings per share during the third quarter of 2022. The Warren, Mich.-based transportation and logistics company posted net income of $48.5 million, or $1.84 a diluted share, for the quarter. That compared with $10.3 million, or 38 cents, during the same time the previous year. Total revenue increased by 13.5% to $505.7 million. Learn more about your ad choices. Visit podcastchoices.com/adchoices

The Justice Department is probing potentially misleading statements by electric car maker Tesla and its executives about the automobiles’ autonomous capabilities, according to a source who asked not to be identified discussing the investigation. The Justice Department declined to comment, and Tesla representatives didn’t immediately respond to requests to comment on the case, which was first reported by Reuters. Tesla has faced increasing scrutiny from U.S. regulators over the safety of its automated driving systems, and a jury trial is scheduled in February over a driver fatality blamed on Autopilot. Learn more about your ad choices. Visit podcastchoices.com/adchoices

The Port of Philadelphia will have less truck congestion and more capacity thanks to a $20.3 million federal infrastructure grant award. “We receive calls daily from shippers looking for dry storage. With the construction of a new 100,000-square-foot warehouse, we will have the ability to attract new business that will result in the creation of additional family-sustaining jobs for the region,” said Jeff Theobald, executive director and CEO of the Philadelphia Regional Port Authority (PhilaPort). Learn more about your ad choices. Visit podcastchoices.com/adchoices

SAN DIEGO — American Trucking Associations revealed Oct. 25 that it estimates the shortfall of professional drivers has decreased slightly to 78,000 for this year. That’s down from an original estimate in 2021 of a record 80,000 drivers. But ATA says the shortage could swell to more than 160,000 over the next decade based on current driver demographic trends and projected growth in freight demand. Learn more about your ad choices. Visit podcastchoices.com/adchoices

SAN DIEGO — American Trucking Associations President Chris Spear highlighted a string of victories the federation achieved in the past year during his annual state-of-the-industry address at the ATA Management Conference & Exhibition. Spear said one prominent victory for the industry came in Rhode Island, where a federal judge in September struck down as unconstitutional a trucks-only tolling plan managed by the Rhode Island Department of Transportation known as “RhodeWorks.” Spear also cited enactment of the $1 trillion Infrastructure Investment and Jobs Act as a top victory for the industry. Learn more about your ad choices. Visit podcastchoices.com/adchoices

American Trucking Associations’ Management Conference & Exhibition is in full swing in San Diego. ATA President Chris Spear delivers his state of the industry address today, and Secretary of Transportation Pete Buttigieg speaks to attendees tomorrow. Catch up on all of the news and photos at our microsite at ttn.ws/mce2022. Learn more about your ad choices. Visit podcastchoices.com/adchoices

U.S. trailer orders in September just cleared 25,000 and, while down about 10% compared with a year earlier, were the highest since the first quarter, ACT Research reported. Orders reached 25,700, according to ACT, which cited trailer makers’ initial reporting that will be revised. A year earlier net orders were 28,127. FTR revised its initial take on preliminary orders to 21,500 after first reporting them as 12,500 in an Oct. 17 release. Learn more about your ad choices. Visit podcastchoices.com/adchoices

The fourth-largest for-hire carrier in North America reported positive third quarter earnings Tuesday. J.B. Hunt beat Wall Street analysts’ expectations and reported net earnings of $269.4 million, on revenue of $3.84 billion. The company pointed to strong segment growth as the driver. The carrier’s new president, Shelley Simpson, also participated in her first quarterly call in the post. Simpson is the first woman to hold that role. Learn more about your ad choices. Visit podcastchoices.com/adchoices

September truck tonnage increased 5.5% year-over-year, and is up just slightly from August, according to the latest numbers released yesterday by American Trucking Associations. According to ATA, the latest gain put tonnage at the highest level since August 2019 and the third-highest level on record. ATA Chief Economist Bob Costello said, “This is another example of how the contract freight market remains strong despite weakness in the spot market this year.” Learn more about your ad choices. Visit podcastchoices.com/adchoices

Three additional participants in staged accidents with trucks in the New Orleans area have pleaded guilty to conspiracy to commit mail fraud charges, bringing to 41 the number of convicted conspirators in the FBI’s “Operation Sideswipe” investigation. The pleas by the three individuals were the most recent charged for their part in what federal authorities believe were more than 100 staged accidents involving trucks and cars in the New Orleans area. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Retail sales of Class 8 trucks remained strong in September, checking in at 22,971, according to Ward’s Intelligence. That’s slightly below August’s number of 23,581, but well above last year’s 17,131 for the month. Five truck makers posted double-digit gains, led by Navistar’s International brand up by 85% and Paccar’s Peterbilt Motors up by almost 74%. Learn more about your ad choices. Visit podcastchoices.com/adchoices

The trucking industry’s push to recruit drivers is as strong as ever despite signs freight demand may be softening. Supply chain talent has been in short supply, a situation that was amplified by the pandemic, according to Sylvie Thompson of NTT Data Services. “Just waiting for them to come will not work.” she said. American Trucking Associations estimates a shortage of about 80,000 drivers, one reason the industry has been fairly agnostic to market trends when it comes to driver recruiting. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Bison Transport has acquired Hermon, Maine-based truckload carrier Pottle’s Transportation, it was announced Oct. 12. The transaction will be effective Oct. 31. Bison will acquire all issued and outstanding shares of the trucking company through an affiliate. Financial details will not be made public. Learn more about your ad choices. Visit podcastchoices.com/adchoices