The Top Headlines in Freight, Transportation, & Logistics from FLS Transportation
Here’s this week’s Weekly Freight Report March 3rd:
- Temps rise across most of North America and the NW gets flooded with rain.
- Major freight forwarder hacked and taken offline for weeks.
- Ship with Lamborghinis and other luxury cars catches fire and sinks.
- Four strategies top CFOs use to save profits from inflation.
Temps rise across most of North America and the NW gets flooded with rain.
With the warmer temperatures across the US this week, the northwest has a very different experience a deluge of rain, drenching and closing roads.
The unique weather event called an “atmospheric river” has flooded the northwest, triggering landslides and closing highways.
Major freight forwarder hacked and taken offline for weeks.
How does a 16.5 billion dollar freight forwarding company, Expediters, go offline for weeks? They were hacked around Feb 20, and their operating systems were held hostage by hackers in a widely believed but not confirmed ransomware attack.
The company has yet to return to normal as most staff are not permitted to log into the computers or return to the office. The longer the company stays silent, the more damage these hackers do to Expediters business, revenues, operations, and reputation. To see Expediters response to the attack, click here.
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Ship with Lamborghinis and other luxury cars catches fire and sinks.
The Felicity Ace car transport ship is now sitting at the bottom of the ocean along with 4000 Volkswagen AG vehicles, which included Porsche, Audi, Bentley, VW, and Lamborghini-branded models.
After a fire broke out on Feb 16 and lasted a week, the ship was being towed to safety but ultimately sank off the coast of Portugal.
The goods on board totaled $438 million and were bound for the US. Click here to read more.
Four strategies top CFOs use to save profits from inflation.
Almost every industry could see reduced profits as inflation levels rise. CFOs across several industries have come up with four strategies to protect their company’s bottom line.
Even when 76% of the S&P 500 companies surpass earnings-per-share, executives use strategies like raising prices to sustain profits.
See the rest of the strategies and what company’s like Exxon, Proctor & Gamble, 3M, GE and Amazon are doing to cope with inflation here.
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