By Daniel Wiessner Feb 26 (Reuters) - President Donald Trump's administration on Thursday moved to scrap a rule long opposed by business groups for making it harder to classify workers as independent contractors rather than ‌employees, who can cost a company more. The U.S. Department of Labor released a proposal to repeal the ‌2024 rule, which it said was legally flawed and had deprived many workers of the flexibility that comes with independent contracting. The rule, which the ​department stopped enf ...

Standard Freight Logistics Inc., an over-the-road carrier based in St. Augustine, Florida, has filed for Chapter 11 bankruptcy protection. The company filed its voluntary petition on Monday listing estimated assets between $100,000 and $500,000 and liabilities between $500,000 and $1 million, according to court records. The case was filed in the Middle District of Florida and seeks to allow the company to restructure while continuing operations. Founded in 2007, Standard Freight Logistics employs 57 dr ...

Freight broker RXO said it expects truckload spot rates to run ahead of contract rates in the coming months, noting “the capacity situation is much more fragile than at any point since 2022.” RXO’s (NYSE: RXO) proprietary spot rate index was up 5.2% year over year in the fourth quarter after increasing just 1.8% in the third quarter. The latest period snapped a three-quarter trend of decelerating rate increases, according to a quarterly outlook from the Charlotte, North Carolina-based company. It charac ...

PENSKE AUTOMOTIVE GROUP EXPANDS PRESENCE IN FLORIDA [Accessibility Statement] Skip NavigationCompletes Acquisition of Two Lexus Dealerships in Central FloridaExpected to Add $450 Million in Annualized RevenueBrings Estimated Annualized Acquired Revenue to $2 Billion Since NovemberBLOOMFIELD HILLS, Mich., Feb. 24, 2026 /PRNewswire/ -- Penske Automotive Group, Inc. (NYSE: PAG), a diversified international transportation services company and one of the world's premier automotive and commercial truck retailers ...

This story was originally published on Trucking Dive. To receive daily news and insights, subscribe to our free daily Trucking Dive newsletter. Dive Brief: PAMT, the parent company of P.A.M. Transport, reported a $38.1 million operating loss for Q4, according to a Feb. 13 earnings release. Its net loss for the quarter was $29.3 million.  Losses continue to mount for the carrier, which now has reported five consecutive quarters of operating losses. For the full year, PAMT reported a $64 million operating ...

The Great Freight Recession led to dozens of trucking, logistics, and shipping companies filing for Chapter 11 bankruptcy protection in 2025 to reorganize their businesses, restructure their debt obligations, and stay in business. Companies blamed reduced shipping demand, lower freight rates, and rising labor, fuel, and insurance costs for the decline in revenues and profits. In some cases, bankrupt trucking companies were unable to reorganize in Chapter 11 and stay in business. Filing Chapter 7 or Cha ...

“I’ll let [the OEMs] speak to their business … but I think they got some real obstacles ahead of them relative to anything that could lead to excess capacity coming into the market over the next couple of years,” Leathers said.The notion of a truck prebuy is also at odds with fourth-quarter reports, which showed many carriers are still struggling to effectively utilize the equipment they already own.His forecast also calls for replacement-level (or below) Class 8 tractor builds this year. It took the OEMs 1 ...

Tom Yeung here with your Sunday Digest. Last week, I warned that insiders in two key industries were selling unusual amounts of their company’s stock. Data centers. The phenomenal growth story is now facing margin compression as cloud customers begin to cut back. Insiders at Oracle Corp. (ORCL) and CoreWeave Inc. (CRWV) sold an unusual number of shares, and we learned this week that Berkshire Hathaway Inc. (BRK) dumped 75% of its Amazon.com Inc. (AMZN) holdings last quarter. Airlines. American consumers mig ...

Five people died on I-20 near Terrell, Texas, when a Hope Trans LLC semi hauling U.S. mail slammed into stopped traffic. The driver, Alexis Osmani Gonzalez-Companioni, admitted he fell asleep at the wheel. He was driving solo on a route that, under USPS policy, required team drivers. The truck’s cab card was falsified. A company official was indicted. Former drivers described a culture of falsified logs, backdated shipping documents, and coded language; “coffee” meant they needed more illegal drive time.KG ...

RT Derrick Evans (@DerrickEvans4WV)🚨 WATCH: Nearly 700 trucking companies are registered to a single small building in Signal Hill, California, with hundreds using the same email.https://t.co/odXFVLMW89 ...