Welcome to the WHAT THE TRUCK?!? Newsletter. In this issue, the top 5 WTTs of the year, FourKites layoffs and speed limiter clapback.
Your top episodes of WTT ’23
Not a huge surprise here: Yellow and Convoy reporting ruled the news cycle. And how couldn’t they? They represent the largest trucking bankruptcy in history and the largest venture-backed company collapse in this space. Here were your top 5 most-watched episodes of WTT in 2023.
#1 Life or death: Court decides Yellow’s fate
Watch https://www.youtube.com/watch?v=BW5Ml_fc0-E
July 21 — As Yellow’s fate was being decided by a court in Kansas City, a panel of experts broke down the decision that sealed the 99-year-old LTL carrier’s coffin.
With special guests Michael Bookout, co-founder of MyCarrierTMS; Todd Maiden, finance editor at FreightWaves; Matthew Leffler, The Armchair Attorney; and FreightWaves’ Zach Strickland.
#2 Yellow’s final Friday; port strikes; and escalating fuel costs
Watch: https://www.youtube.com/watch?v=aHpGxVlJcdE
July 28 — With news of Yellow’s shutdown coming in just days, Dooner caught up with CNBC’s Lori Ann LaRocco, Trauxit’s Joe Stevens and Hell Bent Xpress’ Jamie Hagen.
#3 Convoy cancels all loads; why freight companies fail; and unpopular opinions
Watch: https://www.youtube.com/watch?v=IXTHFjHRC4I
Oct. 18 — With the sudden news that Convoy may be shutting down, Dooner broke down the situation with FreightWaves’ Craig Fuller, Thomas Wasson and Justin Martin, Shatranj Capital Partners’ Brittain Ladd and Steam’s Lee Britain.
#4 Yellow drivers speak out; UPS backup plans; beating cancer and a down market
Watch: https://www.youtube.com/watch?v=Jbnnlp3xuks
July 24 — With time running out for Yellow, Dooner caught up with a pair of its drivers to see what the boots on the ground workers thought of the situation. With special guests Yellow drivers Jay and Dwayne; Luke Denny, co-founder and CEO at Frayt; John Seidl, vice president of risk services at Reliance Partners; and High Performance Logistics Sales’ Dan Deigan.
#5 The largest trucking bankruptcy in history
Watch: https://www.youtube.com/watch?v=jYqYvMFFRek
July 31 — With word becoming official that Yellow would shut down, Dooner caught up with special guests Covenant’s Matt McLelland; Anderson Trucking Service’s Robert Powell; trucker Michael Lombard; and Marine Traffic’s Adil Ashiq.
Thank you — It’s been a challenging year in this space, but I’d like to thank all of our listeners and guests who helped bring clarity, guidance and memes to a very messy market. You can catch all of our back episodes on YouTube right here or if you prefer audio only, just look up WHAT THE TRUCK?!? on any podcast player.
FourKites cuts 15%
Supply chain visibility platform FourKites has cut 15% of its staff in a move it says is aimed at getting the “burn rate to zero.”
FreightWaves’ Grace Sharkey reports, “The move included the departure of another key executive, Glenn Koepke, vice president of strategy. Koepke played a crucial role in leading industry strategy and go-to-market execution, particularly in sectors like food and beverage, consumer packaged goods, and logistics solutions.”
FourKites, like many FreightTech firms, has had a rough go in 2023. Prior to these layoffs, it went through what it labeled “routine internal organizational changes.” Those included the departure of then-President Rocky Subramanian.
Industry insiders have recently raised concerns about FourKites as it tries to stop its cash burn and negative growth. Others have wondered if FourKites’ role as a global player has diminished as it loses sales presence in Europe, China and Japan.
As cash reserves dwindle for venture-backed companies, 2024 could be do or die time in this space.
Clapping back on speed limiters
“But I hope you equally consider the 15,000 comments from America’s truckers who have provided input on this rulemaking. They’re not going to be able to host a big fundraiser for you.” — U.S. Rep. Troy Nehls, R-Texas
Are the speed limiters coming? FreightWaves’ John Gallagher reports, “One of the biggest concerns surfacing in the three-and-a-half-hour House Transportation and Infrastructure highway subcommittee hearing on Wednesday related to the ethics of the speed limiter rulemaking process.”
The issue is over the FMCSA rescinding a 68 mph limit on electronic speed governors in trucks. The agency now wants speed limiters set at 60 mph. Republicans are questioning Federal Motor Carrier Safety Administration chief Robin Hutcheson about a fundraiser she attended that was sponsored by “labor unions, trial attorneys, large trucking companies.”
One fleet owner said, “We have speed limiters out there now. They’re called speed limit signs.”
We’ll know which speed limiter number sticks by the end of the month when the FMCSA is expected to issue a notice. Follow Gallagher for the latest and read the full report here.
WTT Friday
A Very WHAT THE TRUCK?!? Christmas — Join us on Friday’s episode of WHAT THE TRUCK?!? for our final episode of the year as we celebrate this year in freight.
We’re joined by very special guest: Wreaths Across America’s Courtney George; Brown Dog Carrier’s Graig Morin; Qued’s Tom Curee; FreightCaviar’s Paul-Bernard Jaroslawski; Lost Fr8’s Reed Loustalot; and The Armchair Attorney Matthew Leffler.
Catch new shows live at noon EST Mondays, Wednesdays and Fridays on FreightWaves LinkedIn, Facebook, X or YouTube or on demand by looking up WHAT THE TRUCK?!? on your favorite podcast player.
Now on demand
Haulin’ for the Holidays; carriers say Convoy owes them cash; golf logistics
Does trucking need a Barbie; Supply Chain Bingo; freight theft trends
Thanks for reading and have a very happy holiday season! See you in 2024.
Subscribe to the show
Or simply look up WHAT THE TRUCK?!? on your favorite podcast player.
All FreightWaves podcasts can also be found on one feed by looking up FreightCasts wherever you get your podcasts.
Don’t be a stranger,
Dooner
The post Your top 5 WHAT THE TRUCK?!? episodes of the year appeared first on FreightWaves.
