FW: Shuttered California LTL carrier files for bankruptcy
FREIGHTWAVES reports: Less-than-truckload carrier Tony’s Express of Fontana, California, has filed for bankruptcy protection, nearly three ...
FWRD: LEADERSHIP UPDATEAMZN: A TOP PICK KNIN: GOING WITH THE FLOWDSV: RISINGMAERSK: SOARINGMAERSK: HOLDING MSS DISPOSALWMT: FOCUS ON COREUPS: STAFF CUTSGM: TOP SALESGXO: LEGAL RISKAMZN: AI-DRIVEN VALUETSLA: UP SHE GOESUPS: LOOKING FORWARDUPS: LOWERING EPS ESTIMATESEXPD: UNDER PRESSURE CHRW: JOB CUTS REPORTED
FWRD: LEADERSHIP UPDATEAMZN: A TOP PICK KNIN: GOING WITH THE FLOWDSV: RISINGMAERSK: SOARINGMAERSK: HOLDING MSS DISPOSALWMT: FOCUS ON COREUPS: STAFF CUTSGM: TOP SALESGXO: LEGAL RISKAMZN: AI-DRIVEN VALUETSLA: UP SHE GOESUPS: LOOKING FORWARDUPS: LOWERING EPS ESTIMATESEXPD: UNDER PRESSURE CHRW: JOB CUTS REPORTED
Thoughtful post from procurement expert Peter Smith on last week’s news that three City Link directors are set to be prosecuted for not giving the UK government sufficient notice that the firm was due to enter bankruptcy and make thousands of staff redundant. Mr Smith argues that the 90-day notice the law requires is “nonsensical”, since every customer of that firm would pull its business as soon as it could, thus further accelerating the impending bankruptcy. “So the act of announcing the potential administration will almost certainly send the firm into a more rapid decline. Whereas taking another month or two to try and turn things round might just (in a few situations at least) pay off and save the firm.”
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