U.S. Xpress Gears Up for Next-Gen Trucking with IPO
*By Michael Teich*
Trucking company U.S. Xpress's return to public markets Thursday puts it in position to keep pace with the industry's latest innovations, the company's chief executive said.
In its first day of trading on the New York Stock Exchange since 2007, the company's stock was up over 4 percent.
The CEO Eric Fuller said in an interview with Cheddar that access to capital market allows U.S. Xpress to better manage rising costs and invest in emerging technologies.
"The biggest cost is no drivers," Fuller said. The dearth of drivers is among the biggest challenges facing the entire trucking industry
Unpredictable schedules and an uneven work-life balance scare off potential truck drivers, but Fuller said technology can help drive trucking business forward. He said he was optimistic about the development of "driver-assist" innovations that can provide drivers with precise routes and more stable working hours. That technology should be available in 5-10 years, he said, adding that the trucking industry will have to wait a lot longer for fully autonomous vehicles .
"I believe it will happen sometime, but probably 20 years out," he said.
For the full interview, [click here](https://cheddar.com/videos/u-s-xpress-gears-up-for-next-gen-trucking-with-ipo).
The KC-46 was to be the ideal candidate for a fixed-price development program. Instead, it has cost Boeing billions, and made industry wary of such deals.
Dave Long, CEO and Co-Founder of Orangetheory Fitness joins Cheddar to chat trends in the industry for 2024. He updates us on the company's plans to expand and what the state of the economy has meant for business.
One of the world's largest renewable energy developers will be getting hundreds of wind turbines from General Electric spinoff GE Vernova as part of a record equipment order and long-term service deal.
A moon landing attempt by a private US company appears doomed because of a fuel leak on the newly launched spacecraft. Astrobotic Technology managed to orient the lander toward the sun Monday so its solar panel could capture sunlight and charge its onboard battery.
Treasury Secretary Janet Yellen has announced that 100,000 businesses have signed up for a new database that collects ownership information intended to help unmask shell company owners. Yellen says the database will send the message that “the United States is not a haven for dirty money.”
A new version of the federal student aid application known as the FAFSA is available for the 2024-2025 school year, but only on a limited basis as the U.S. Department of Education works on a redesign meant to make it easier to apply.
A steep budget deficit caused by plummeting tax revenues and escalating school voucher costs will be in focus Monday as Democratic Gov. Katie Hobbs and the Republican-controlled Arizona Legislature return for a new session at the state Capitol.
The first U.S. lunar lander in more than 50 years is on its way to the moon. The private lander from Astrobotic Technology blasted off Monday from Cape Canaveral, Florida, catching a ride on United Launch Alliance's brand new rocket Vulcan.
Global prices for food commodities like grain and vegetable oil fell last year from record highs in 2022, when Russia’s war in Ukraine, drought and other factors helped worsen hunger worldwide, the U.N. Food and Agriculture Organization said Friday.
