The Daily Dash is a quick look at what’s happening in the freight ecosystem. In today’s edition, we highlight the latest guilty pleas for the unusual case in Louisiana, a question about double brokering and more.
The High Five
1. With two more defendants entering guilty pleas, the number of participants in the Louisiana staged accident scam who have taken that step continues to climb, but with a distinct absence of one type of occupation. John Kingston’s story
2. Shares of Electric Last Mile Systems jumped as much as 10% in early morning trading on Monday after the electric vehicle maker made its public trading debut following its merger with special purpose acquisition company Forum Merger III Corp. Brian Straight’s Modern Shipper report
3. Employment levels for the U.S operations of the Class I railroads in May were at their highest point in 2021 year to date, although overall headcount is still down year-over-year, according to data submitted to the Surface Transportation Board. Joanna Marsh’s story
4. The Outbound Tender Volume Index at 15,980 is nominally higher now than basically at any point in the past 12 months with the exception of the week prior to Thanksgiving/Black Friday last year. The move this week has been driven primarily by higher rejection rates, rather than higher freight demand. DHL Supply Chain Pricing Power Index
5. Is double brokering legal? It’s complicated. This was a common answer among many transportation professionals asked about the legality of double brokering as part of a FreightWaves investigative series on a burgeoning double-brokering scheme. AskWaves with Clarissa Hawes