LTL players up their game and rates head up despite volume slowdown
Volume decline seems unable to put the brakes on US less-than-truckload (LTL) carriers, or bring ...
American Shipper lifts the lid on the recent federal indictment of Philip Armbruster, the former Roadrunner chief financial officer who, along with two other executives – named as Mark Wogsland and Bret Naggs – have been charged with accounting fraud, alleged to have cost shareholders as much as $245m in lost value. Charges against the three also include one of conspiracy to make false statements to a public company’s accountant and falsify Roadrunner’s books, records and accounts, as well as two counts of false entries, two counts of securities fraud and two counts of wire fraud. The alleged fraud began in 2014 and continued until Mr Armbruster was fired in 2017. A recent Loadstar Premium analysis of the company argues that Roadrunner’s future will hinge on the what majority shareholder Elliot Management Corp intends to do with a the proceeds of a recent $450m fundraising round.
Rate erosion may be easing, but rock-bottom prices are 'not good for anybody'
West coast ports suffering as US container imports plunge by 37%
Cost-cutting FedEx Express to retire MD-11s for B767s and 777s
Carriers turn their gaze back to scrubbers as voyage results tumble
Billund sees launch of Maersk Air China link – 'a start-up on steroids'
The 'mother of all BAFs' looms for shippers as green targets advance
WestJet will 'disrupt' Canada with three 737Fs, but rivals aren't scared
CMA CGM eyes car-carrier market boom as liners are ready to invest
Comment on this article