Uber Freight lost $64 million in the first quarter despite a 57% jump in revenue to $199 Million (i.e., It is losing 33¢ on every dollar of revenue). Commentary from the
Wall Street Journal
: “Uber Freight has had a significant impact on its market but has been hard-pressed to turn its gains into profits.”
US Postal Service (USPS) has significant backlogs of parcel shipments. Some say it is as much as 2 weeks. This is the same USPS that wants $ 75 billion to modernize (that is $230 /per person in the country). Meanwhile, UPS is introducing surge pricing as it sees much higher volumes. Profits are down across the parcel carriers as more costly residential deliveries take over from deliveries to businesses.
Panasonic takes a 20% stake in software provider “Blue Yonder” – formerly JDA