Squeeze on US truck capacity and lack of drivers keeps rates high
With tender rejections at record highs, shippers are seeing contract rates follow the upward momentum ...
MARKETWATCH reports:
Shares of YRC Worldwide Inc. YRCW, -27.17% sank 4.6% in midday trading Monday, after a congressional panel said the trucking company didn’t meet the test to be designated as essential to national security, The Wall Street Journal reported.
The stock has rocketed 74.6% on July 1 after YRC said it expects to receive $700 million loan from the U.S. Treasury under the Coronavirus Aid, Relief and Economic Security (CARES) Act, as the Treasury determined the company played an essential role in the nation’s supply chain. Congress had ...
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