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Tag: Swift
Business
News roundup, Oct. 28: Mack intros all-black Anthem, Swift announces warehouse layoffs, new CVSA inspection bulletin on tread depth
Swift becomes the latest carrier to announce layoffs amid the slowdown in freight demand. Mack this week unveiled a special blacked-out version of its flagship Anthem tractor. CVSA announced availability of new inspection bulletin on measuring tread depth in evolving-tread-design tires.
October 28, 2019
Business
Jury says Swift owes CRST $15 million for trying to nab drivers
A jury has ruled that Swift Transportation owes CRST Expedited more than $15 million for recruiting freshly licensed truck drivers who were locked into 10-month employment contracts with CRST.
August 2, 2019
Business
Swift reaches $100M settlement with more than 19,000 contractors
Some 19,000 drivers may be eligible to join the class and receive payment, equating to an average of more than $5,000 per class member, though payouts will be based on length of employment, the ultimate number of eligible class members and other factors.
March 13, 2019
Overdrive Extra
Trucking’s billionaires: Forbes’ annual list includes those who made their fortune in trucking
Trucking’s billionaires include a few who started businesses as single-truck operators, as well as those who founded or inherited large truck stop chains.
March 6, 2019
Business
Swift office worker gets 5 years in prison for swindling $1.65M from company
David Dwight Reynolds will spend 5 years in jail and must pay $2.2M in restitution after embezzling $1.65M from Swift over the course of 3 years.
June 20, 2018
Business
Swift IT worker pleads guilty to bilking carrier out of $1.65M
In two separate schemes to defraud Swift, former IT worker David Dwight Reynolds swindled $1.65 million from the Phoenix-based carrier giant. He has pleaded guilty to multiple felony charges.
January 9, 2018
Business
New fleet conglomerate Knight-Swift sees slim earnings in third quarter due to merger costs
Dave Jackson, president and CEO of the new company, said the decline was due to $12.3 million in expenditures related to “legal and professional fees related to the merger with Swift.” In sum, the company reported more than half a billion in revenue in the third quarter.
November 9, 2017
Business
Knight, Swift merger to close any day after stockholders approve deal
Shareholders for Knight Transportation and Swift Transportation, two of the country’s largest trucking fleets on course for a merger this year, have approved the deal made between the two companies. The merger is expected to close Sept. 8.
September 8, 2017
Business
Major carriers’ revenue, income continue to slip in 2017
The stats are also in line with owner-operator income for the first half of the year. Like owner-operators, publicly traded large fleets reported higher fuel costs than the same period the year prior, despite cheaper diesel prices.
August 23, 2017
Business
Knight-Swift merger cleared by FTC
The FTC has granted approval to the merger of two of the country’s largest truckload carriers, Knight Transportation and Swift Transportation. The merger, which will create a truckload giant made up of about 30,000 power units, was announced last month, with the deal expected to close sometime this summer.
May 3, 2017
Business
1,300 truckers could see payout in Central Refrigerated classification case
This summer, 1,300 Central Refrigerated Service truckers anticipate a damages determination by the arbitrator who concluded they had been misclassified as independent contractors by the carrier, who’s owned by Swift Transportation.
April 21, 2017
Business
Analyst: Swift-Knight merger will have little effect on driver force, operations
The merger of two of the continent’s largest and most prominent trucking companies, Swift Transportation and Knight Transportation, won’t impact the jobs of the nearly 30,000 combined drivers employed by the two companies, a transportation financial analyst told Overdrive last week.
April 19, 2017
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