0 Comments By Erica E. Phillips Erica E. Phillips The Wall Street Journal BiographyErica E. Phillips @eephillips_wsj [email protected] Sept. 6, 2018 12:01 a.m. ET E-commerce fulfillment startup ShipBob has raised $40 million in new funding to expand the warehousing and technology services it offers small- and medium-size brands to compete with Amazon.com Inc. AMZN -2.19% The Chicago-based company, which launched in 2014, operates five warehouses in major cities where it fulfills customer orders within one to two days for more than 2,000 internet retailers. The company says it has shipped more than 4 million packages for customers that include Interior Define, I Heart Keenwah, baKblade, and Creepy Co. The Series C funding round was led by Menlo Ventures and includes existing investors Bain Capital Ventures, Hyde Park Venture Partners, Hyde Park Angels and Y Combinator. ShipBob has raised a total of $62 million but would not disclose its valuation. Read More in … [Read more...] about ShipBob Raises $40 Million to Back E-Commerce Fulfillment Growth
0 Comments By Jennifer Smith Jennifer Smith The Wall Street Journal BiographyJennifer Smith @jensmithWSJ Google+ [email protected] Sept. 5, 2018 8:30 a.m. ET Big trucking companies, scrambling along with their customers to keep up with fast-growing U.S. economic demand, are plowing millions of dollars into technology to build up services as digital freight middlemen. The growing investment in online freight brokerage is aimed at building on operations many truckers have used to supplement their core transportation businesses, even when that means turning shipments over to other truckers or independent drivers. The expansion is being driven by customer demand and by the need to compete with a growing lineup of upstart companies that are using new technology to grab a slice of a U.S. freight market that’s growing at a fevered pace. Like the Uber Freight unit at Uber Technologies Inc. and load-matching startups like Seattle-based Convoy, the trucking … [Read more...] about Truckers Get Digital in Search for Big Rigs
0 Comments By Costas Paris and Costas Paris The Wall Street Journal BiographyCostas Paris @CostasParis [email protected] Kimberly Chin Kimberly Chin The Wall Street Journal BiographyKimberly Chin @MsKimberlyChin [email protected] Updated Sept. 4, 2018 1:14 p.m. ET Transocean Ltd. RIG -6.69% has agreed to buy fellow offshore-drilling contractor Ocean Rig ORIG 11.96% UDW Inc., in a cash-and-stock transaction valued at roughly $2.7 billion and aimed at strengthening the company’s drillship fleet ahead of an expected market recovery. Switzerland-based Transocean—among the world’s five biggest offshore operators, with revenue of $7.4 billion last year—will give Ocean Rig shareholders 1.6128 newly issued shares in the combined business plus $12.75 in cash per share of Ocean Rig’s common stock. The agreement would value Ocean Rig’s shares at $32.28 apiece, representing a 20% premium over the 10-day volume-weighted average … [Read more...] about Transocean Agrees to Acquire Ocean Rig UDW for $2.7 Billion
Enhances Transocean’s position as the leader in ultra-deepwater and harsh environment drilling; Adds nine high-specification ultra-deepwater drillships, two harsh environment semisubmersibles, and two high-specification ultra-deepwater drillships currently under construction; Results in a combined fleet of 57 floaters, with 17 of the top 50 and 31 of the top 100 ultra-deepwater drillships in the industry(1); Enhances Transocean’s exposure to, and ability to capitalize on, the ultra-deepwater market recovery; Increases Transocean’s industry-leading contract backlog by $743 million for a combined total of $12.5 billion, at an average dayrate of $413,000; Expected annual cost synergies of approximately $70 million; The transaction has been unanimously approved by the board of directors of each company; and The top four Ocean Rig shareholders (representing approximately 48% of Ocean Rig’s outstanding shares), all of Ocean Rig’s directors that own shares … [Read more...] about Transocean Ltd. Announces Agreement to Acquire Ocean Rig
By Margot Roosevelt | [email protected] | Orange County RegisterPUBLISHED: June 27, 2018 at 10:42 am | UPDATED: June 27, 2018 at 1:45 pm Soft spoken and bespectacled, Diana Corral, a 36-year old Orange County social worker, hardly fits the stereotype of union boss. “I love my job because I love helping people,” she said of her work as an eligibility specialist who guides the poor, the disabled and the homeless in applying for food stamps, Medi-Cal heath insurance and cash assistance. But as president of Local 2076 of the American Federation of State, County and Municipal Employees, with 1,450 members, Corral is one of hundreds of public-sector union leaders on the warpath across California to counter the effect of Wednesday’s U.S. Supreme Court decision, Janus v. AFSCME. The decision, overturning four decades of legal precedent, outlawed so-called “fair-share” or “agency” fees levied by government unions. The fees, paid by workers who … [Read more...] about Can California’s public employee unions thwart U.S. Supreme Court’s Janus decision?