Freight market pulse weekend wrap

Keeping track of all the outstanding content published on each week can prove daunting, and we do not want you to miss a beat. Every FreightWaves article is designed to assist our readers in becoming the most informed professionals in the transportation and logistics industry. 

To make this task easier, we present an exclusive list of articles that may have flown under your radar this week. Each article is selected as essential reading for anyone who wants to have a finger on the pulse of the industry.

New Penn requests additional headcount — New Penn Motor Express, the Northeast regional U.S. unit of less-than-truckload (LTL) carrier YRC Worldwide Inc. (NASDAQ: YRCW), has notified the Teamsters union that it plans to add utility employee positions for “improved service and growth.”

Bankrupt Celadon seeks $900,000 in bonuses for executives, court filings show — The company argues payouts will maximize value during the wind-down of its North American trucking businesses, but the proposal faces resistance from a U.S. federal trustee.

Texas-based flatbed carrier ceases operations, blames government regulations, insurance costs — Flatbed carrier TK Transport of Clute, Texas, has decided to shutter operations, citing soaring insurance costs, government regulations and a weak spot market.

Roadrunner to sell Prime division to CHRW to help clean up balance sheet — Roadrunner Transportation will be able to take a significant step in improving its balance sheet following its agreement to sell its Prime Distribution Services business to C.H. Robinson Worldwide (NASDAQ: CHRW).

U.S. Xpress announces favorable refinancing — U.S. Xpress Enterprises Inc. (NYSE: USX) announced that it entered into a new revolving credit facility and paid off outstanding balances on its prior revolver in a press release issued after the market close today.

UPS posts solid fourth-quarter operating results; net income hit by pension, legal, operating charges — UPS Inc. (NYSE:UPS) reported Thursday morning solid fourth-quarter operating results, though its net income was weighed down considerably by about $1.9 billion in charges for pension adjustments, network reconfiguration and settling a legal dispute with New York state involving movements of cigarettes.

Driver training group frustrated with training rule delay — The Commercial Vehicle Training Association (CVTA) has vowed to try to shorten the two-year regulatory delay on new minimum training requirements for entry-level truck drivers.

Continuing a run of good fortune, Tesla posts second quarterly profit — The electric vehicle company expects more than half a million deliveries in 2020.

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