Government, Business, Technology, Fuel

Hacker Seeks About $5 Million Ransom From Pemex by Nov. 30

Tanker trucks at storage and dispatch terminal of Petroleos Mexicanos Tanker trucks wait at the storage and dispatch terminal of Petroleos Mexicanos. (Felix Marquez/Associated Press)

The hacker behind a cyberattack that has crippled Petroleos Mexicanos’ computer systems since the weekend is hoping to squeeze about $5 million out of the company and appears to have set a deadline of Nov. 30.

November 13, 2019
Business, Logistics, Top 100

Roadrunner Sells Intermodal Business to Universal Logistics for $51 Million

Roadrunner truck The intermodal business had revenue of approximately $125 million for the 12 months ended Sept. 30 and was part of the company’s truckload segment, according to Roadrunner officials. (Roadrunner Transportation Systems Inc.)

Roadrunner Transportation Systems has sold its intermodal business to Universal Logistics Holdings for $51.25 million in cash, the transportation and asset-light logistics company announced Nov. 5.

Jim Stinson | Staff Reporter
November 5, 2019

Roadrunner to Downsize Dry Van Truckload Segment, Laying Off 450

Roadrunner truck Roadrunner officials said the reduction represents approximately 10% of the company’s total workforce. (Roadrunner Transportation Services)

Roadrunner Transportation Systems Inc. on Sept. 30 announced that it would lay off 450 employees and downsize its dry van business, a truckload segment the company said had become unprofitable.

Jim Stinson | Staff Reporter
September 30, 2019
Business, Logistics, Top 100

Roadrunner to Focus on 3PL, LTL After Net Losses in 2Q

Roadrunner Transportation Systems truck Roadrunner Transportation Systems

Roadrunner Transportation Systems Inc. will narrow future operations to logistics and less-than-truckload after a disappointing second quarter, company officials said in an Aug. 7 news release.

Jim Stinson | Staff Reporter
August 7, 2019
Business, Top 100

Roadrunner CFO Terence Rogers to Step Down in August

Roadrunner Transportation Systems Roadrunner Transportation Systems

Terence Rogers, Roadrunner Transportation Systems Inc.’s executive vice president and chief financial officer, has resigned from the company effective at the end of August.

Jim Stinson | Staff Reporter
June 28, 2019
Business, Technology, Top 100

Fleets Transitioning to New Management as Industry Prepares for the Road Ahead

Ben McLean and John Ruan III Ruan CEO Ben McLean (center) and Chairman John Ruan III meet with drivers and other employees in La Vergne, Tenn. McLean is part of a new generation of leaders taking the reins at major trucking firms. (Ruan Transportation Management Systems)

As the trucking industry enters a new age, fleets increasingly are turning to a new generation of leaders.

Daniel P. Bearth | Senior Staff Writer
June 24, 2019
Business, Logistics, Top 100

Roadrunner Board Nominates Donald Brown, Christopher Jamroz

Roadrunner truck Roadrunner Transportation Services

Roadrunner Transportation Systems Inc.’s board of directors has nominated Donald Brown and Christopher Jamroz for election to the board at its annual meeting to be held May 22.

April 22, 2019
Business, Logistics, Top 100

Shareholders Offered Option of Buying More Stock as Roadrunner Seeks to Recapitalize Its Business

Roadrunner truck at loading dock Jason Miller — Flickr

Shareholders of Roadrunner Transportation Systems, who have seen the value of their holdings plummet following a finance scandal that led to the dismissal of several top executives more than a year ago, are being given a chance to buy more stock — 900 million shares to be exact — at 50 cents a share as part of an effort by new management to recapitalize the business.

Daniel P. Bearth | Senior Staff Writer
January 9, 2019

Roadrunner Reports Third-Quarter Loss as Turnaround Effort Continues

Roadrunner Transportation Systems TT File Photo

Roadrunner Transportation Systems released financial results for the third quarter that included a net loss of $41.6 million as the Downers Grove, Ill.-based company continues to battle back from an accounting scandal and the departure of several key executives, some of whom are now facing federal charges of securities fraud for misrepresenting the company’s finances to investors over several years.

Daniel P. Bearth | Staff Writer
November 7, 2018

Roadrunner Revenues, Losses Rise in 1Q as Turnaround Continues

Roadrunner Transportation Systems Roadrunner Transportation Systems

Roadrunner Transport Systems reported an improvement in operating results for the first quarter, ended March 31, but net losses grew.

Burney Simpson | Staff Reporter
July 2, 2018