The Daily Dash is a quick look at what is happening in the freight ecosystem. In today’s edition, Nikola Corp. took a quicker path to becoming a public company, but there are now questions about the increasing role SPACs are playing in markets. Plus, can the shipper-broker-trucker relationship be improved? And UPS tries again for an exemption from some driver-training regulations.
Nikola fallout highlights the role of SPACs
The path Nikola Corp. (NASDAQ: NKLA) took to becoming a publicly held company offers a cautionary tale for others going the same route following a report claiming fraud and the sudden departure of founder and executive chairman Trevor Milton.
Todd Maiden explores the role SPACs play as an alternative to an IPO: Fast track to public listings dealt a blow amid Nikola fallout
Shippers, truckers and brokers have complicated relationships. Each is on a constant quest to gain an advantage, but is that good for anyone in the end?
Contributor Brian Fielkow explores the dynamics of a healthy relationship: ‘I’ve got a lot of problems with you people!’
In need of drivers, not regulations
UPS [NSYE: UPS] is taking another swing at a federal exemption from new entry-level driver training regulations as it struggles to fill driver training slots across its network.
John Gallagher explains why the package giant needs the exemption: UPS tries again for entry-level driver training exemption
Crime doesn’t pay
Nine more people have been charged in an ever-growing probe in staged truck accidents in Louisiana. In total, 28 people have now been charged with staging accidents with tractor-trailers in an insurance scheme.
John Kingston has details on the latest charges: More indictments handed down in Louisiana staged accident scheme
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Data and commentary from trucking companies indicate that strong volumes and rates will continue. The indications have analysts raising their expectations for third-quarter earnings.
Todd Maiden has details on why analysts are excited: All signs point to a prolonged trucking rally
Hammer down, everyone,