Carmel-based trucking tech firm DriverReach acquired
DriverReach’s founder and former CEO said he’s now turning his focus to a nonprofit he launched last year.
Trucking
-
Judge slashes punitive damages awarded in case against Wabash
Judge Christopher E. McGraugh said the original $450 million amount awarded by the jury was “grossly excessive” and not in line with the company’s constitutional rights.
Read More -
CIB wants to buy 8.8 acres near Lucas Oil Stadium for truck parking, event prep
Leaders of the Capital Improvement Board of Marion County, which operates of the stadium and Indiana Convention Center, want control of the parcel to guarantee adequate space for storing semis and staging events as the city’s sports and tourism industry grows.
Read More -
Speed-limit proposal for trucks in Indiana clears first hurdle
A bill that would raise the speed limit for trucks on certain Indiana roadways advanced to the full Senate on Tuesday despite opposition from the state’s largest truck drivers group.
Read More -
Settlement reached in civil suit against former Celadon execs
The settlement comes more than three years after the U.S. Securities and Exchange Commission filed suit against former Celadon executives Eric Meek and Bobby Peavler.
Read More
Articles
Indiana-based Wabash National faces $462M verdict in fatal 2019 crash
The trailer manufacturing company said its insurance policies should cover the $12 million in compensatory damages, but the punitive damages could materially hurt its financial condition, operations and cash flows.
Trucking industry on a bumpy road post-pandemic
The economic effects of the pandemic created boom times for trucking—but the industry has hit an extended bumpy patch since then, with no consensus as to when conditions will smooth out.
Tractor-trailers with no one aboard? The future is near for self-driving trucks.
The autonomous semi companies say they can help address a truck driver shortage, estimated by the industry to amount to 64,000 drivers.
More women turn to trucking as shortage of drivers opens doors
To attract women, trucking firms are working to make their work less unpredictable and time-consuming.
Trucking giant Yellow Corp. declares bankruptcy after years of financial struggles
The Chapter 11 bankruptcy filed Sunday arrives just three years after Yellow received $700 million in pandemic-era loans from the federal government. Yellow has hundreds of workers in Indiana.
Trucking firm with 30,000 employees ceasing operations, union says
An official bankruptcy filing is expected any day for Yellow Corp., after years of financial struggles and growing debt. Its expected liquidation would mark a significant shift for the U.S. transportation industry and shippers nationwide.
Cummins expects big growth from its alternative-fuels business, CEO says
Cummins brought in $176 million—a tiny fraction of its overall revenue—from its electric and hydrogen products last year. But the company expects revenue to hit as much as $13 billion in 2030.
Some truckers want higher speed limits; key lawmakers reluctant
Two legislators are seeking to eliminate the lower speed limit for heavy trucks on rural interstates and highways, but their proposals appear to be another chapter in more than 30 years of fruitless efforts on behalf of independent truckers.
Indiana bill to increase semi truck speed limits faces tough road ahead
Five prior proposals to eliminate the lower speed limit for trucks have been filed in the House since 2017 without success.
Sky-high diesel prices squeeze truckers, farmers, consumers
For months, motorists have felt the pain of high gasoline prices. Many might not know that they’re also absorbing the impact of much costlier diesel in the form of higher priced goods.
Trucker blockade snarls U.S.-Mexico trade route at border
One of the busiest trade ports on the U.S.-Mexico border remained effectively closed Wednesday as frustration and traffic snarls mounted over orders by Texas Gov. Greg Abbott requiring extra inspections of commercial trucks.
Fuel-price hikes hitting shippers, truckers across U.S. economy
For trucking fleets—which move 70% of the U.S.’s freight tonnage—the sudden jump in prices is set to hurt smaller operators who have to cover the extra fuel cost on the spot and wait for surcharges to be reimbursed, American Trucking Association Chief Economist Bob Costello said.
EPA rule would make heavy trucks cut smog, soot pollution
The proposal released Monday by the Environmental Protection Agency would require the industry to cut nitrogen oxide emissions by up to 90% per truck over current standards by 2031.
Cummins to acquire Meritor for $3.7B
Columbus-based Cummins said its acquisition of Michigan-based Meritor, a maker of electric axle and brake technology, will help accelerate Cummins’ electric and hybrid business.
Cummins to acquire brake manufacturer for $325M
Cummins announced Wednesday that it’s signed an agreement to purchase Connecticut-based Jacobs Vehicle Systems from its current owner for $325 million. The deal is expected to close later this year.
Pandemic forces delay in fraud trial of former Celadon execs
The criminal case against former Celadon executives Eric Meek and Bobby Peavler had been scheduled to begin on Feb. 22, but the judge has rescheduled the trial because local COVID-19 positivity rates are too high.
Indy trucking company to hire more than 90 new workers
Indianapolis-based Renewable Transport Services Inc. plans to add more than 90 jobs by the end of 2025 and invest $20 million to upgrade its southside facilities.
Multitude of creditors left high, dry as Celadon bankruptcy case closes
With most liquidation efforts complete, Celadon has raised only $75 million—$45 million short of the $120 million it needed to satisfy a loan from its secured creditors.
State lawmakers debate whether to increase weight limits for trucks
Manufacturers and trucking groups are supportive of the legislation, but opponents, including law enforcement agencies, have raised concerns about possible damage to state infrastructure and safety on the roads.