What happened to LME trucking company?
On July 12 2019, LME, Inc. shut down, closing all of its approximately 30 locations in the Midwest. The shutdown reportedly occurred with short notice to employees, though the company said that some employees would remain to help redirect freight for delivery by alternative carriers.
Why did LME shut down?
The squeeze pushed nickel’s price up roughly 250% to over $100,000 per ton in a matter of hours, as short-sellers sought to cover their trades by buying nickel. To justify the shutdown last week, the LME said in a statement the short squeeze cascade caused “a systemic risk to the market.”
Is New England Motor Freight still in business?
Bankruptcy. On February 11, 2019, NEMF filed for Chapter 11 bankruptcy citing rising overhead costs and a shortage of drivers, officially closing its doors one year later.
Who bought Nemf?
Estes Express to Buy NEMF Affiliates for $15 Million.
Is New England Motor Freight a union company?
NEMF said it “intends to use these proceedings to facilitate an orderly wind-down of its operations.” NEMF was a unionized carrier, mostly covered by the International Association of Machinists and Aerospace Workers, whereas nearly all the other LTL unionized bankruptcies involved Teamsters-related companies.
Which commodity is best to buy?
The Best 5 Commodities to Trade in India in 2022
- Crude Oil. Crude oil is one of the best commodities to trade because it is naturally-occurring unrefined petroleum and a fossil fuel which comprises organic materials and hydrocarbon deposits.
- Natural Gas.
What happened to LME trucking?
LME trucking firm abruptly closes, leaving workers in the lurch Trucking firm just began paying former workers in a settlement after a similar closure in 2016. By Dee DePass Star Tribune July 12, 2019 — 10:17pm
What’s going on with LME trucking in New Brighton?
LME trucking in New Brighton abruptly shut down 30 delivery terminals in several states Thursday, a move that left hundreds of workers laid off with no notice and at least some unpaid.
Is LME still open for business?
Signs saying “LME is closed for business” are now posted on the doors of most LME loading docks. The company website on Thursday afternoon alerted customers: “Effective immediately LME will no longer be accepting any pickups.” Calls to the company’s headquarters Thursday and Friday were not answered, and attempts to reach owners were unsuccessful.
Who are LME’s customers?
Calls to the company’s headquarters Thursday and Friday were not answered, and attempts to reach owners were unsuccessful. LME has listed its customers as including behemoths such as 3M, Toro, Bobcat, John Deere and Osram Sylvania. Some affected workers said they are being contacted by customers concerned about the status of their freight.