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Author: truckernews

Celadon Buys Tango Transport, Continues Expansion

Celadon Trucking Services, one of the nation’s biggest transportation and logistics, purchased parts of Tango Transport, a carrier with an 850 truck fleet. Tango Transport LLC, in Shreveport, La subsequently reported it would be laying off up to 80 of its employees to the Louisiana Workforce Commission. Celadon, which is based in Indianapolis, did not buy terminals or offices from Tango, but only particular equipment-based assets. Joe Weigel, the spokesman for Celadon, said that because the companies already share some of the same clients, the acquisition seemed natural. “We have every intention of fulfilling some of the lanes and...

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Pension Fund Cuts Benefits for 300,000 Truckers

A proposal submitted to the Treasury Department by the Central States Pension Fund (CSPF), one of the country’s largest pension funds, has many truck drivers and their families who rely on their pension checks concerned about their future. The fund said over 400,000 retirees, about 300,000 of them teamster truckers, will have to undergo significant monthly cuts to their benefits if the fund is to continue paying out to its retirees. The reduction will affect the pensions of 407,000 members. Benefits under pension plans have always been treated as sacred or untouchable, and are only meddled with when situations...

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Looking for a Change? The Trucking Industry Needs More Drivers

The U.S. has a staggering 3.4 million tractor trailer drivers on the road, but with the economy on the upturn, there is a greater demand from truck drivers now more than ever. In their fourth major analysis of the ongoing trucker shortage, the American Trucking Associations (ATA) reported that this year, the number of drivers the sector needs is on track to set a new record high, with 47,500 unfilled seats across the nation. If the economy continues to improve even modestly, demand will increase, which could add 26,000 more open seats in heavy-duty trucks next year for a...

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Hours of Service Rule Suspended in Carolinas Due to Record Floods

Parts of South Carolina and North Carolina are experiencing record-breaking flooding due to Hurricane Joaquin dropping buckets of rain on the East Coast for five days. Whole sections of roads and bridges have been washed away, and as of Monday afternoon, 375 roads and 161 bridges remained closed in South Carolina alone, where parts of the state was deluged with over two feet of water. South Carolina Department of Transportation (SCDOT) acting secretary Christy A. Hall said, “The flood-swollen rivers in the Midlands are tributaries that feed into the rivers that move down into the southern portion of the...

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UPS Buying Coyote Logistics for $1.8 Billion

United Postal Service (UPS), the largest package delivery company in the world, has entered into an agreement to purchase Coyote Logistics, a freight broker company for a cool $1.8 billion dollars from Warbung Pincus, a private equity firm. The deal with be complete within the next 30 days, pending the normal conditions and regulatory approvals are met. Coyote Logistics began in 2006, and reported $2.1 billion in revenue last year. Coyote CEO Jeff Silver is excited, “to become a part of UPS and continue to grow, now with UPS’s support.” He continued, “Our great people, leading technology and flexible...

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