Trucking news and briefs for Monday, Sept. 13, 2021:
Bay & Bay Transportation (CCJ Top 250, No. 171) announced Sept. 9 that, effective immediately, it has increased its pay for independent contractors by 30 cents per mile.
Independent contractors joining the fleet will now receive between $1.40 and $2 for loaded miles, plus fuel surcharges. Additionally, after a 90-day review, qualifying drivers will have the opportunity to change to a 70% linehaul option.
“We continue to set new industry standards at Bay and Bay because we want to build strong and lasting relationships with our drivers,” said Michael Blair, director of driver recruitment at Bay & Bay.
Drivers interested in taking advantage of Bay & Bay’s pay for the lease-purchase opportunities are encouraged to reach out quickly. New and late model Freightliner Cascadias and Kenworth T680s are available and are in high demand, the company said. Current deals include $0 down with a sign-and-drive option.
Echo Global Logistics has entered into an agreement to be acquired by funds managed by The Jordan Company, a global private equity firm, for an equity value of approximately $1.3 billion.
Through the transaction, Echo will become a private company, which it expects will provide additional resources and greater flexibility to continue to build its technology and data science platform and enhance its value proposition to shippers and carriers. Additionally, the transaction will allow Echo to benefit from the operating capabilities, capital support and sector expertise of The Jordan Company.
