Who is XPO Logistics?
XPO Logistics (NYSE: XPO) is a top ten global logistics company. We run our business as one highly integrated network of people, technology and physical assets in 32 countries, with over 97,000 employees and 1,505 locations.
Who owns XPO rentals?
Prior to starting XPO in 2011, Mr. Jacobs founded United Rentals in 1997 and led the company for 10 years as chairman, including six years as chief executive officer. He founded United Waste Systems in 1989 and served eight years as chairman and chief executive officer.
Who is the new CEO of XPO?
Gómez joined XPO upon the company’s acquisition of Norbert Dentressangle SA, where he led the growth of the transportation business in Iberia. His more than 20 years of industry experience include earlier executive roles in finance with Christian Salvesen and Transportes Gerposa (now XPO).
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What exactly does XPO Logistics do?
We provide innovative transportation solutions for the most demanding supply chains in the world. We're a leading supply chain partner to blue-chip companies across every major industry, with a sole focus on freight transportation.
Why is XPO splitting?
In preparation for the truck brokerage spin-off, XPO is streamlining its business. It sold off its intermodal segment, which helped reduce its leverage ratio, and the company also plans to divest its European business, leaving both XPO and the truck brokerage spin-off exposed to just North America.
Did XPO Logistics get bought out?
STG Logistics has acquired XPO Logistics' intermodal division for $710 million, the companies announced Friday, advancing XPO's spin-off plans revealed earlier this month. Approximately 700 employees and 48 locations have been transferred to STG in the transaction, according to an XPO news release.
Did XPO Logistics split?
XPO announced in December 2020 that it was splitting its logistics and trucking businesses into separately traded firms, aimed at giving each unit a more defined focus; that move was completed in August.
Does XPO pay a dividend?
Dividend Overview. XPO does not currently pay a dividend.
Who is buying XPO?
STG LogisticsSTG Logistics has acquired XPO Logistics' intermodal division, the third-largest provider of containerized transportation services in North America, in an all-cash transaction totaling approximately $710 million.
What did XPO Logistics used to be called?
In September 2011, American businessman Brad Jacobs acquired Express-1 Expedited Solutions, Inc. and became its chairman and CEO. The company changed its name to XPO Logistics – a reference to Express-1's AMEX ticker symbol, "XPO" – and began acquiring other companies in the transportation and logistics sector.
What's the difference between XPO and GXO?
The new XPO Logistics is focused on less-than-truckload shipping and truck brokerage. GXO manages warehouses and logistics operations. XPO Logistics has completed its spinoff of GXO Logistics. Both stocks are now trading separately in Monday morning.
Who is XPO largest customer?
XPO Logistics is still looking to make up for the business it lost last year when its largest customer, widely believed to be Amazon, decided to downsize its operation with the transportation and operations company, XPO CEO Brad Jacobs said on the company's recent earnings call.
Who bought xpo intermodal?
STG Logistics Inc.sold its North American intermodal segment for about $710 million, further unwinding a sprawling transportation business built up through a decade of acquisitions. The sale to freight and warehousing provider STG Logistics Inc., which XPO said was completed Thursday and was announced Friday, brings Greenwich, Conn.
Does TFI own XPO?
On October 27, 2016, TFI International acquired transportation company XPO Logistics - North American Truckload Operations from XPO for 558M USD.
Who bought XPO intermodal?
STG Logistics Inc.sold its North American intermodal segment for about $710 million, further unwinding a sprawling transportation business built up through a decade of acquisitions. The sale to freight and warehousing provider STG Logistics Inc., which XPO said was completed Thursday and was announced Friday, brings Greenwich, Conn.
What is XPO spinning off?
GREENWICH — XPO Logistics, one of the world's largest transporters of goods, announced Tuesday that the truck-brokerage business it is spinning off into its own company will be called RXO. The name reflects the new company's commitment to providing reliability “multiplied by outperformance,” according to XPO officials.
Who owns St George Warehouse?
Wind Point PartnersWind Point invests in leading provider of import / export and value-added warehouse logistics services. Chicago, IL, July 25, 2016 – Wind Point Partners, a Chicago-based private equity firm, has partnered with logistics executives Chris Jamroz and Hessel Verhage to acquire St. George Logistics (“STG” or the “Company”).
What is XPO safety?
XPO ’s safety culture prioritizes the well-being of our employees and our customers. One of our main objectives is to achieve zero job-related injuries and accidents. We use training and technology to continuously improve our safety ecosystem, and we have XPO safety professionals positioned across our operating regions.
Why do customers rely on XPO?
Customers rely on XPO for our consistency and strong dependability. Learn more about how XPO delivers customized transportation solutions to the most successful companies in the world.
How many companies did Brad Jacobs start?
Brad Jacobs has started five companies from scratch and led each of them to become a billion dollar or multi-billion dollar enterprise. These include XPO Logistics (NYSE: XPO) and two other publicly traded companies: United Rentals (NYSE: URI) and United Waste Systems. XPO Logistics and United Rentals were among the 20 best-performing stocks of the decade. Prior to starting XPO in 2011, Brad Jacobs founded United Rentals in 1997 and led the company for 10 years as chairman, including six years as chief executive officer. He founded United Waste Systems in 1989 and served eight years as chairman and chief executive officer.
When does XPO insurance renew?
XPO’s insurance coverage is current, with a renewal date of October 1, 2020. If you have any questions regarding our insurance, please email us here. If you need to request a certificate of insurance, please complete this form.
What companies does Brad Jacobs own?
These include three publicly traded companies: XPO Logistics, Inc. (NYSE: XPO), United Rentals, Inc. (NYSE: URI) and United Waste Systems, Inc. XPO and United Rentals were among the 20 best-performing stocks of the last decade. Prior to starting XPO in 2011, Mr. Jacobs founded United Rentals in 1997 and led the company for 10 years as chairman, including six years as chief executive officer. He founded United Waste Systems in 1989 and served eight years as chairman and chief executive officer. Mr. Jacobs serves as chairman of the board of GXO Logistics, the 2021 spin-off of XPO’s global logistics segment.
How many plaintiffs did XPO Logistics settle?
XPO Logistics has reached a settlement with 3,772 plaintiffs in a case accusing the company of breaking California labor laws by requiring the plaintiffs to work off-the-clock without pay, failing to pay overtime and other allegations, according to a motion for settlement approval filed this past Friday by the plaintiffs.
What did the plaintiffs in the XPO complaint say?
The original complaint outlines various California labor laws the plaintiffs accused XPO of not abiding including unpaid overtime, not paying minimum wage, depriving contract workers of meal and rest periods, and failing to pay wages in a timely manner.
Why did the plaintiff accept the settlement on behalf of the class?
The plaintiff, who accepted the settlement on behalf of the class, was willing to settle because he "recognizes the risk that the Court may determine Plaintiff and the putative class were not employees of XPO," the settlement documents read.
Is XPO a lawful employer?
The plaintiffs in this case were drivers and helpers for these contract carriers who allege XPO is the lawful employer in these situations because it had "extensive and pervasive control over the drivers’ and helpers’ workday," according to the settlement documents.
How much did XPO pay to settle the lawsuits?
XPO has agreed to pay nearly $30 million to settle two misclassification lawsuits involving hundreds of port drivers.
What is XPO freight?
XPO is a freight transportation company headquartered in Greenwich, Conn. The company was accused of misclassifying the drivers as independent contractors in both lawsuits.
How much did the class members get in the Alvarez case?
In the Alvarez case, the class members will receive about $12.3 million. The payouts will depend on how many work weeks each driver completed at XPO. Alvarez, including four other named plaintiffs, will receive $30,000 each. Four others will receive $10,000 each.
What is the complaint against XPO?
The complaint said delivery drivers are not given the level of autonomy one would expect for an independent contractor. The suit alleges XPO maintains the ability to determine when and where drivers pick up deliveries, the uniforms drivers wear, what kind of vehicle they drive and what kind of insurance drivers use.
How much did the plaintiffs get paid for XPO?
The settlement says plaintiffs will be paid about $70 for each day they worked for XPO. The average estimated payment will be $14,222.82 ranging from $70 to over $138,700. The council for the plaintiffs will walk away with $4.1 million, according to the preliminary approval of the agreement written by Judge William Orrick.
How much did the 2017 trucker case cost?
In 2017 however, it was the result of a court order rather than a settlement. A federal judge ruled in favor of drivers in the 2017 case awarding them $958,660, according to Heavy Duty Trucker. Follow Matt Leonard on Twitter. Editors' picks.
Is XPO settlement fully disclosed?
A spokesperson for XPO said the settlement had been "fully disclosed" in its last 10K. The payment is listed as part of " litigation charge of $26 million" in the filing. This means the money for the payout has been fully accounted for, but the payout will happen after the final approval later this year.
When is the next hearing for the settlement of the lawsuit?
A hearing will be held on Oct. 16, 2019 to determine if the settlement should be given final approval. The agreement notes the plaintiffs were willing to settle because continued litigation risked the possibility their "claims could fail entirely.".
Is a settlement an admission of guilt?
A settlement is not an admission of guilt, according to the agreement. The preliminary agreement does outline some of the ways in which XPO disputes the allegations, including that some drivers were able to deliver for other companies while working with XPO and some drivers could refuse deliveries without consequence.
Is XPO a carrier?
XPO is not the only carrier to deal with claims of driver misclassification from its drivers. The L.A. City Attorney is also suing three companies owned by NFI Industries for misclassifying workers in an attempt "to avoid providing benefits and paying applicable taxes.".
