A $10 million verdict is the final straw for Illinois-based trucking company

ClaimsMoney Matters
Written By Jennifer Joslyn

Sullivan, Illinois-based trucking company Marvin Keller Trucking has filed for Chapter 11 bankruptcy protection due to a nuclear verdict in court, inflated fuel costs, and wild market conditions.

The nuclear verdict comes after a fatal car accident in 2019 which involved one of its drivers. The story comes as a cautionary tale to drivers and trucking companies everywhere.

Read more from Freight Waves ▶

You might also like...
Forbes Advisor Explores the Cost of Savings With Metro and State Rankings
Forbes Advisor Explores the Cost of Savings With Metro and State Rankings

California's reputation for high living costs is well-known, but a recent report from Forbes Advisor highlights other areas across the United States that can put a strain on your wallet.

Read More →
Sweden's Experiencing a Surprising Billionaire Boom
Sweden's Experiencing a Surprising Billionaire Boom

Sweden, known for its social equality and high taxes, is now home to a growing number of super-rich individuals.

Read More →
Home Equity Loans Could Supercharge the U.S. Economy
Home Equity Loans Could Supercharge the U.S. Economy

Meredith Whitney, the once-celebrated financial forecaster, is eyeing a potential game-changer for the U.S. economy, and it doesn't involve government spending.

Read More →
Freddie Mac's Proposal Is A Game Changer for the U.S. Economy and Homeowners
Freddie Mac's Proposal Is A Game Changer for the U.S. Economy and Homeowners

Imagine pumping nearly $1 trillion into the U.S. economy without adding a cent to the national deficit.

Read More →
Fed Finds Comfort in Cooler Job Growth and Wage Increases
Fed Finds Comfort in Cooler Job Growth and Wage Increases

On Friday, Federal Reserve officials breathed a sigh of relief as April’s job data revealed a cooling in wage growth and hiring rates that hark back to pre-COVID-19 days.

Read More →
Proposed $5 Million Insurance Hike Could Rock the Trucking Industry
Proposed $5 Million Insurance Hike Could Rock the Trucking Industry

A proposed bill, dubbed the Fair Compensation for Truck Crash Victims Act, could significantly impact the trucking industry by raising the minimum liability insurance from $750,000 to $5 million—a hefty 566% increase.

Read More →
XPO Logistics Exceeds Expectations in Q1 2024
XPO Logistics Exceeds Expectations in Q1 2024

XPO Logistics started 2024 on a high note, surpassing first-quarter forecasts and demonstrating robust financial performance.

Read More →
Rising Interest Rates Push Homebuyers Toward Adjustable Rate Mortgages
Rising Interest Rates Push Homebuyers Toward Adjustable Rate Mortgages

In the face of soaring interest rates, many U.S. homebuyers are opting for adjustable rate mortgages (ARMs) as a more affordable alternative to traditional fixed-rate mortgages.

Read More →
Costco's Strategic Gaps in Rhode Island, West Virginia, and Wyoming
Costco's Strategic Gaps in Rhode Island, West Virginia, and Wyoming

Costco, the membership-only warehouse chain, has significantly expanded across the U.S., boasting over 600 locations.c

Read More →
Generational Wealth Transfer of Inheritance Among Millennials Isn’t That Simple
Generational Wealth Transfer of Inheritance Among Millennials Isn’t That Simple

The average net worth for older Americans might seem high, but this number is skewed by wealthier individuals.

Read More →
Hub Group Faces Financial Pressure Amid Weak Freight Market
Hub Group Faces Financial Pressure Amid Weak Freight Market

Phil Yeager, the CEO of Hub Group, highlighted ongoing financial pressures during the company's recent earnings call, pointing to a soft market mainly caused by an excess of truckload capacity that hasn’t yet exited the industry.

Read More →
U.S. Cities Grapple with Financial Strains Post-Pandemic
U.S. Cities Grapple with Financial Strains Post-Pandemic

Across the United States, municipal governments are tightening their belts as the financial support from the pandemic era fades and inflation persists.

Read More →
Landstar Navigates Market Challenges with Optimistic Outlook
Landstar Navigates Market Challenges with Optimistic Outlook

Landstar System, a logistics company, shared a mixed bag of results in their recent earnings call, staying optimistic despite a tough market.

Read More →
Investment Strategies of the Ultra-Wealthy Are Evolving
Investment Strategies of the Ultra-Wealthy Are Evolving

The ultra-wealthy, those with a net worth exceeding $100 million, adopt investment strategies that set them apart from typical investors.

Read More →
U.S. Residential Electricity Bills in 2023 Rose Less Than Rate of Inflation
U.S. Residential Electricity Bills in 2023 Rose Less Than Rate of Inflation

In 2023, the average monthly electricity bill for U.S. homes nudged up by 2% to $138, which was actually less dramatic compared to the overall inflation rate of 4.1%.

Read More →
Insurance Companies Pull Back from California Market
Insurance Companies Pull Back from California Market

Two more insurance providers, Tokio Marine America Insurance Co. and Trans Pacific Insurance Co., are set to exit the California insurance scene.

Read More →
California Fast Food Chains Raise Prices in Response to Minimum Wage Increase
California Fast Food Chains Raise Prices in Response to Minimum Wage Increase

Following California's new $20-an-hour minimum wage law that kicked in on April 1, fast food joints across the state have bumped up their menu prices.

Read More →
J.B. Hunt's Q1 Earnings: Missed Expectations Amid Challenges
J.B. Hunt's Q1 Earnings: Missed Expectations Amid Challenges

J.B. Hunt Transport Services didn't quite hit the mark this quarter, with earnings per share landing at $1.22, below the expected $1.50.

Read More →
Updated Perspectives on Retirement Savings
Updated Perspectives on Retirement Savings

In recent years, Americans have adjusted their retirement savings targets significantly.

Read More →
Major Investment in Texas Samsung Chip Manufacturing by Biden Administration
Major Investment in Texas Samsung Chip Manufacturing by Biden Administration

The Biden administration has committed up to $6.4 billion to help Samsung Electronics set up a major computer chip manufacturing hub in Texas.

Read More →
Shifting Consumer Sentiment Sparks A Signal for Transportation and Logistics
Shifting Consumer Sentiment Sparks A Signal for Transportation and Logistics

In April, U.S. consumer sentiment took a sharper downturn than expected, hitting 77.9 from March's 79.4, reflecting growing concerns over inflation which continues to influence the economic outlook.

Read More →
Shipping Costs Rising in Select L.A. County ZIP Codes
Shipping Costs Rising in Select L.A. County ZIP Codes

If you're using FedEx or UPS for shipping, especially in Los Angeles County, keep an eye on your bills – they're about to go up.

Read More →
Wealthy Americans Building "Passport Portfolios" for Security and Flexibility
Wealthy Americans Building "Passport Portfolios" for Security and Flexibility

Wealthy American families are increasingly obtaining second, or even multiple, citizenships and residences, a trend highlighted by Henley & Partners, a law firm specializing in high-net-worth citizenships.

Read More →
TSMC's Arizona Expansion Boosted by U.S. Government Funding
TSMC's Arizona Expansion Boosted by U.S. Government Funding

Taiwan Semiconductor Manufacturing Co. (TSMC), a global leader in semiconductor fabrication, is set to receive a significant boost in the U.S. with up to $6.6 billion in funding from the U.S. government.

Read More →
New Delivery Surcharges by FedEx and UPS Affecting Urban Areas
New Delivery Surcharges by FedEx and UPS Affecting Urban Areas

FedEx and UPS have introduced Delivery Area Surcharges (DAS) in 82 additional ZIP codes across the US, covering nearly 1% of the population.

Read More →
California May Pioneer 'Right to Disconnect' Law for Off-Hour Work Messages
California May Pioneer 'Right to Disconnect' Law for Off-Hour Work Messages

California is on the verge of setting a precedent with a proposed law allowing workers to legally ignore their bosses' messages after work hours.

Read More →
California Fast-Food Workers' Wage Hike to $20 an Hour
California Fast-Food Workers' Wage Hike to $20 an Hour

In California, a significant new law has just kicked in, raising the minimum wage for fast-food workers to $20 an hour.

Read More →
Where the Wealthy Retire: America's Richest Retirement Towns
Where the Wealthy Retire: America's Richest Retirement Towns

Looking for a plush spot to spend your retirement? Well, GoBankingRates.com just ranked the richest retirement towns in the U.S., and it's quite the list!

Read More →
FedEx and UPS Tackle Tough Decisions Amidst Market Shifts
FedEx and UPS Tackle Tough Decisions Amidst Market Shifts

In the fast-paced world of logistics, FedEx and UPS are making some big changes.

Read More →
BlackRock CEO Larry Fink Addresses Retirement System's Strain
BlackRock CEO Larry Fink Addresses Retirement System's Strain

Larry Fink, CEO of BlackRock, points out in his annual letter that the U.S. retirement system is under a lot of pressure due to Americans living longer and spending more years in retirement.

Read More →
Jennifer Joslyn
Previous

Driver turnover can be avoided with KPI’s
Next

Used Class 8 now have a price tag of $100k on average