The Friday Report Blog: November 11th, 2022

Quick wrap up of a few hot topic newsworthy stories in the supply chain logistics industry


Werner Enterprises Purchases ReedTMS in Hundred Million Dollar Deal

Werner Enterprises has announced that the company has acquired Tampa, Florida-based freight broker ReedTMS Logistics in a $112.4 million deal. The asset-based fleet specializes in temperature-controlled freight, operating 130 trucks and 775 trailers.

ReedTMS has been in operation since 1996 and services over 800 clients. Last year, the company generated $372 million in revenue. It will remain a stand-alone business with its leadership, drivers, and nondriver workforce remaining intact.

This purchase is the fourth deal that Werner has completed since July 2021. Since then, the company has purchased ECM transport in a $142 million deal, Nehds Logistics in a $64 million deal, and Baylor Trucking at a currently undisclosed price.

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Rail Strike Averted as Third Largest Rail Union Agrees To “Cool Off”

The Brotherhood of Maintenance of Way Employees Division-International Brotherhood of Teamsters has announced that a rail strike will not occur until at least December 4th. This comes as they try to align union efforts with the Brotherhood of Railroad Signalmen, which rejected the formers entity’s labor agreement with rail carriers last month.

This extension of bargaining time also provides time for the two largest rail unions, the International Association of Sheet Metal, Air, Rail and Transportation Workers and the Brotherhood of Locomotive Engineers and Trainmen, to complete their ratification process. BMWED has stated that if SMART-TD and BLET cannot come to an agreement by November 21, it will extend its delay period to December 9th.

The BMWED was the first union to vote against ratifying a collaborative labor agreement with President Bidens Presidential Emergency Board (PEB). The agreement based on Biden’s PEB included the largest wage for railroad workers in 50 years.

BMWED has stated that railroads continue to reject proposals for additions to contracts from both unions. One addition that unions want to include in contracts are extra days paid sick leave. Unions are also under pressure from Congress to accept agreements without the inclusion of negotiated benefits. To avoid a nationwide rail shutdown, all 12 labor unions must ratify a labor agreement.

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Amazon Introduces Rivian EVs for Holiday Deliveries

Since July, Amazon has delivered over 5 million packages using its Rivian electric vans. The company recently announced that it will ramp up its use of the vehicles for holiday deliveries, with over 100 cities being added by years end.

The electric van fleet began deliveries in over a dozen cities during the summer and has since added major metropolitan markets such as Boston, Denver, Houston, New York, and Oakland.

Amazon currently has over 1,000 Rivian electric vans making deliveries across the U.S. The company plans to grow its fleet to 100,000 by 2030. Their efforts in decarbonization are also stretching to its European market, as the company plans to double its electric van delivery fleet on the continent by 2025.

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