FedEx Freight is becoming a standalone public company, with its parent planning to spend $600 million to enhance its IT systems and infrastructure ahead of the separation . Consolidated adjusted earnings for FedEx were strong for the fiscal first quarter, exceeding expectations even though FedEx Freight revenue saw a 3.1% year-over-year decline.

Hear the latest on the ongoing labor negotiations as Canada Post prepares to present a new contract offer to unionized mail carriers in an effort to break the existing stalemate. However, the Canadian Union of Postal Workers declined to immediately drop their limited strike action—a ban on delivering marketing mail—and asked why negotiations need to be postponed for another week after two years without new collective agreements.

The morning minute also features the opening of the Savage Tooele Railroad in the northwest corridor of Utah, marking the state’s first new short line railroad in over a century. This 11-mile route restores a former Union Pacific branch and serves the Lakeview Business Park, a project Governor Spencer Cox hailed as a major step forward for Utah’s economy .

Tune into FreightWaves TV later today for WHAT THE TRUCK?!? with Malcolm Harris at noon. You can also register for next month's State of Freight which will be live and in-person at the Future Freight Festival (F3).

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