Daily dispatch, March 27: XPO ends bid to sell, spin-off business units amid ‘current market conditions’

user-gravatar

Trucking news and briefs for Friday, March 27, 2020:

XPO changes course on breakup strategy
In a notice filed March 20 to the U.S. Securities and Exchange Commission, XPO Logistics (No. 6 on the CCJ Top 250) announced it is no longer looking to sell or spin-off a number of its business units. The company cites “current market conditions” for ending the process.

An XPO spokesperson declined to comment further on the decision.

XPO announced in January it was exploring the sale or spin-off of between one and four — or none — of its European Supply Chain, European Transportation, North American Transportation, and Supply Chain–North America and Asia Pacific business units. The company planned to hold onto its North American LTL business.

Goodyear offering free DOT inspections
As part of its response to the COVID-19 pandemic, Goodyear Truck Care Centers are offering free DOT inspections, a $120 value, to help truck owners meet the annual inspection requirement.

Goodyear says its Commercial Tire and Service Center locations are expected to remain open, even in states with “stay-at-home” orders in place.

J.B. Hunt offering drivers bonuses during coronavirus pandemic
J.B. Hunt (No. 3 on the CCJ Top 250) announced it will give its drivers and certain personnel one-time $500 bonuses for keeping freight moving during the COVID-19 pandemic.

The bonus will be available to eligible employee drivers, as well as field employees and managers in terminals, intermodal ramps, maintenance shops, dedicated contract service account locations and final mile distribution centers who directly support drivers. The bonus will be paid on March 27.