Another Hub division specializes in providing transportation services to the automotive industry. The company also made a significant investment in information technology in1990. Hub Group sold its Mode Transportation subsidiary as part of a previously announced move to centralize its operations and move away from independent owner-operator networks. Sales for fiscal 1999 were $1.3 billion, an increase of almost 15 percent over the previous year. 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Sign up today to receive our FREE, weekly email newsletter! From strained global freight networks to rapid e-commerce growth, the logistics industry and its... 2021 Rate Outlook: Higher rates dead ahead. United Parcel Service (stylized as ups) is an American multinational package delivery and supply chain management company.. Yeager convinced major companies that they saved money and hassle by employing a third-party agent. The third-party agent managed the movement of a load of goods from its origin to its destination, plotting the best and cheapest route and arranging for the pick-up and transfer of goods between rail and truck. Its revenue from its logistics business was up almost 90 percent, and revenue from truck brokerage also increased by close to 20 percent. It was not only increasing its total business, but was growing quickly in non-intermodal areas. Its another subsidiary, UNYSON Logistics, offers a range of railcar and pharmaceutical transportation services. Yeager's Hub City Terminal opened in April 1971, operating out of a cramped office in a side street in Hinsdale. A Hoovers subscription is your VIP access to key information. "With Hub Highway’s and Unyson’s domestic transportation management businesses growing well and Hub’s market-leading intermodal offering, Mode had become an operational duplicate which was not needed strategically," he said. Innovation and sustainability in the … Hub Group (NASDAQ: HUBG) is a transportation management company that provides multi-modal solutions throughout North America, including intermodal, truck brokerage and logistics services. Hub Group's mission is to provide world class logistics solutions that consistently exceed customer expectations. Freight Brokerage services are provided by the Freight Hub Group’s wholly-owned subsidiary, Assetco Freight Brokers DBA Freight Hub Group, a licensed brokerage firm, DOT # 2887871 MC #969677, Full Truck Load Nationwide are managed by wholly-owned subsidiary FTL Hub Inc. Its logistics arm, HGDS, also found new business using the Internet. Subsidiaries to Hub Group include Hub City Terminals. It also managed set-up and assembly of goods after delivery, pick-up of returned items, and other services. Hub also acquired American President Distribution Services in 1996, the international intermodal business division of a major shipping company, American President Companies Ltd. Hub paid $8 million for American President's division, giving Hub access to 25 international accounts. In 1989, the company added a division called Hub Highway Services. HGDS offered door-to-door distribution of shipments for its clients. Hub City Terminals. ESSENTIAL JOB FUNCTIONS: Understand current regulatory requirements and proactively manage Hub's existing processes to maintain compliance with those requirements Hub gained management of over 2000 railroad containers, with a provision to add up to 1,000 more over the next year. Hub City Terminals, Inc. Delaware. HGDS offered more than just shipping. In 1992 Hub Group announced the formation of a new corporate division that would provide intermodal transportation services to the automotive industry. Freight transportation providers responded to COVID-19 pressures heroically, becoming leaner, more... Group News Editor Jeff Berman believes that these are the stories that best summarize the wild ride... © Copyright 2021 Peerless Media LLC. Hub Group operates a wholly owned subsidiary, Comtrak Logistics, which provides a variety of drayage and truckload solutions. The company continued to be privately held by Yeager and his family. He also noted that it was exactly the kind of acquisition Hub had been patiently awaiting: a strong operating and sales organization that compliments Hub’s core competencies. Sales ballooned, growing for example 30 percent between 1991 and 1992, and coming close to this in following years. Clorox was looking for measures that would help it cut costs, and bargained that signing on with Hub would save it hundreds of thousands of dollars over the coming few years. It provided completely 'paperless' tracking of transactions, keeping tabs on what could be tens of thousands of shipments yearly for major corporations like Sears. Intermodal transportation involves arranging for the transportation of freight using different types of conveyances, typically by rail and truck or truck and ship. $67k. Hub Group took on the Sears account in 1991, signing a contract with Sears Logistic Service to handle all that company's intermodal freight needs. However, the company began to become a national presence in the mid-1980s, when Hub started to actively solicit business from Fortune 500 companies. Evan Armstrong, president of supply chain consultancy Armstrong & Associates, call the selling off of Mode a "good move" by Hub. 4 Global Logistics: Challenges in our changing world. And it added that proceeds from this sale will go towards acquisitions of businesses in both new and existing service lines, with Hub saying it is focused on acquiring high quality businesses that will deepen its relationships with its customers, strengthen its platform for growth and create shareholder value. Hub changed over in the mid-1990s to what it called a 'two-way management' system for pick-up and delivery of freight, made possible by its computer technology. But Yeager lost his job when Penn Central went bankrupt, and in 1971 he and his family moved to suburban Chicago. Hub's regional offices were also tied together using the EDI system. Hub Group made many other changes in 1990. But it was more than the small family business Yeager had at first envisioned. Hub Group’s 4Q Profit Slumped SUBSIDIARIES . Hub Group was founded in 1971 and grew rapidly, finding itself on a list of the 500 fastest-growing companies regularly since the mid-1990s. Hub specializes in alleviating shippers' difficulties in coordinating different transport services. Yeager's strategy for his staff was to offer a low salary but high commission. See insights on Hub Group including office locations, competitors, revenue, financials, executives, subsidiaries and more at Craft. different Hub Group subsidiaries by their cash on hand . The company also launched a subsidiary, Hub Group Distribution Services (HGDS), in 1990. Hub Group operates a subsidiary company, Hub Group Distribution Services, that offers clients an array of logistics services, coordinating transportation, warehousing, inventory management, set-up and assembly of products and displays, and other services, to businesses nationwide. With the advanced computer notification it had working by the mid-1990s, over 70 percent of its equipment got reloaded. The fact is that it is just as good as truck, or even better in some lanes.' Similar Companies. Average Salary. Hub Group Subsidiaries. Principal Subsidiaries: Hub Group Distribution Services; HLX. Hub Group's wholly-owned subsidiary, Hub Group Trucking (formerly Comtrak Logistics), is one of the largest intermodal drayage carriers in the United States, with nearly 2,650 drivers and 25 terminals servicing both the domestic and international markets. Also, Hub had moved recently to open units in Canada and in Mexico. "It makes sense to sell it off to gain some 'dry powder' for more strategically aligned acquisitions. Productive workers could make a lot of money on top of the base salary. Hub also brokers highway transportation through a wide variety of carriers. Hub subsequently re-named Exel as Mode Transportation. Hub Group Inc. said today that one of its subsidiaries, Hub Group Distribution Services (HGDS), may have overstated its earnings by $3 to $4 million … The auto industry had changed the way it managed its parts and inventory during the 1980s, responding to competition from Japanese automakers. By 1992, the company had become by its own account the nation's largest intermodal shipping agent. Hub Group, subsidiary of Just Group Dec 2019 - Present 1 year 4 months. Hub Group Atlanta, LLC . Public Company in the Late 1990s and Beyond. Before Hub instituted this system, less than 25 percent of its carriers were reloaded. This gave both Hub and the railroads much more efficiency in moving freight. Because of Hub's state-of-the-art data management capabilities, it was able to offer sophisticated services to some of the nation's biggest companies. Hub used its data interchange system to manage one of its largest accounts, the logistics arm of the giant retailer Sears. Hub's data capabilities allowed the company to operate more efficiently, so that it could save itself money. The company operates a network of over 30 transportation hubs, mostly covering the Midwest and the eastern United States, but extending also to the West and into Mexico. All Rights Reserved. E-commerce Boom: Welcome to the new reality. Meanwhile, the company endeavored to improve its efficiency in its intermodal business. Director Paul Pettitt & Associates Mar 2018 - Present 3 years 1 month. Yeager understood the difficulties shippers had working with railroads, and he wanted to use his expertise by becoming what was called at that time a third-party agent. Hub Group is a $3 billion asset light freight transportation management company providing comprehensive intermodal, truck brokerage and logistics services. JURISDICTION OF INCORPORATION/ORGANIZATION . From the March 2021 Logistics Management Magazine Issue, Hub Group sells Mode Transportation subsidiary. Highway Services grew to broker trucking services using a pool of over 3,000 carriers. View All with Free Trial. Oak Brook, Ill.-based freight freight transportation services provider Hub Group Inc. said yesterday its subsidiary, Hub Group Trucking Inc., has entered into an agreement to acquire Estenson Logistics LLC, a Mesa, Az.-based provider of dedicated freight transportation services, for … Salary Range 33k - 67k $47k $47,399. By the mid-1990s, this division had grown to a $100 million business, serving major corporations such as Borden, Nabisco, Clorox, and Lever Brothers. Hub was also directly connected to some of the banks that a number of its customers used for paying their bills. This made it a more balanced and comprehensive company. Oak Brook, Ill.-based freight freight transportation services provider Hub Group Inc. said yesterday its subsidiary, Hub Group Trucking Inc., has entered into an agreement to acquire Estenson Logistics LLC, a Mesa, Az.-based provider of dedicated freight transportation services, for … While Hub's revenue from its core intermodal transport business rose a small amount, the company made big strides in other areas. By the early 1990s, Fortune 500 accounts made up about 35 percent of Hub's total business, and it was one of the fastest-growing segments of the company. Hub Group has 5,400 employees across 37 locations and $3.50 B in annual revenue in FY 2020. The Highway Services division expanded Hub beyond intermodal shipping into straight trucking, but the company found that this was difficult to coordinate from its many regional offices. Local Hub offices were spread across the country, radiating out from the company's suburban Chicago center. Edinburgh, United Kingdom MD Origo Services Ltd May 1989 - Mar 2018 28 years 11 months. Yeager and his wife ran the business with only a few employees. Hub seemed to be moving in the direction it had set itself when it went public. The company owns two subsidiaries: Mode Transportation ; and Hub Group Trucking, which provides intermodal freight transport and drayage services. Hub Group became increasingly attractive to large corporate customers as the company grew prominent in the early 1990s. Hub Group’s wholly-owned subsidiary, Hub Group Trucking (formerly Comtrak Logistics), is one of the largest intermodal drayage carriers in the United States, with nearly 2,650 drivers and 25 terminals servicing both the domestic and international markets. American President Distribution was doing about $90 million of business annually. Hub Group Associates, Inc. Hub Group offers Web-based pricing options. Principal Competitors: Landstar System; Exel Logistics Ltd. Hub Group grew enormously in the 1990s, expanding into new markets and increasing its sales by hefty percentages year after year. From activating comprehensive technology for added visibility and efficiency, to leveraging strong third-party relationships and the industry’s second-largest private intermodal fleet, we provide access to the right support and the right end-to-end supply chain solutions, at the right time. Hub Group acquired Dallas-based Mode in April 2011, when it acquired asset-light transportation company Exel Transportation Services (ETS), a subsidiary of Deutsche Post World Net, for $83 million. The company had become much more broadly based than it had when it was a one-room third-party agent. These posted reports informed the management at Hub Group that HGDS was not collecting money from its customers . A shortage of equipment for truck-train transport had hampered intermodal's growth somewhat in the early 1990s. The company uses a sophisticated computer network to plan and track shipments and coordinate billing. Key coverage. By 1997 Hub offered a full array of logistics services, and arranged for air freight, international shipping, highway trucking, and comprehensive intermodal transportation services. The business case for collaborative mobile robotics. The two-way system meant that a trailer leaving Chicago for Los Angeles, for example, sent enough advance notification that a new load could be waiting for it when it unloaded its cargo on the West Coast. Hub's services made it easier for big companies to handle the railroads, which in Yeager's account were not well-equipped to coordinate transport between truck and rail. $33k. Soon after, Hub announced it was forming a joint venture with the Norton Lilly International Shipping Agency to move cargo over land for ocean carriers. Hub Group Trucking, Inc. is located in Oak Brook, IL, United States and is part of the Specialty Trucking Industry. As a publicly traded company with over $3.7 billion in revenue, Hub Group is backed by an asset-owned network of 41,500 53’ intermodal containers, 4,000 drivers, 5,500 units of trailing capacity and 29 terminals. Hub Group, Inc. is America's leading intermodal transportation company. Company. “We are excited about joining forces with York and the support they will provide as we execute our growth plan,” he said. Hub took this message to Fortune 500 companies, and eventually managed to get some big accounts. Employees at the parent company, Hub Group, earn $55,808 whereas employees at Hub City Terminals earn $47,399, on average. Hub spent $63 million on drayage in 2005. View All with Free Trial. The technology allowed the company instant access to information from the railroads, such as location of cars and receipt of billing. CaseStack - Wikipedia In 2011, Kenny was elected to the board of directors of Kerry Group , and in 2016 he was elected to the board of Hub Group . As a drayage subsidiary of Hub Group, Hub Group Trucking opportunities provide abundant freight, unbelievable home time and a driver-friendly culture that sets us apart. Its functions through a network of independent business owners that sell and operate the business throughout North America. After a year in business, the Highway Services division brought in over $17 million. Hub Group operates a subsidiary company, Hub Group Distribution Services, that offers clients an array of logistics services, coordinating transportation, warehousing, inventory management, set-up and assembly of products and displays, and other services, to businesses nationwide. Principal Divisions: Intermodal Shipping; Highway Brokerage; Supply Chain Solutions. "Mode has an excellent management team, with a strong, solid agent base and loyal customers,” said David Yeager, Hub Group Chairman and Chief Executive Officer, in a statement. Hub Group Trucking, Inc. has 1435 total employees across all of its locations and generates $189.34 million in sales (USD). In the early 1990s Hub also provided logistics services to major food makers Kraft General Foods and Nestlé, and close to 40 percent of Hub's clients were Fortune 500 companies. He spent over ten years working with shippers, coordinating intermodal transportation between rail cars and trucks. The third party was the point of a triangle connecting the railroad and a highway shipper, who coordinated services between them. The joint venture was christened HLX. Hub subsequently re-named Exel as Mode Transportation. Mode President Jim Damman said that Mode is an exceptional agent-based transportation solutions provider differentiated by customer-specific expertise, offerings across all modes of freight transportation and leading edge technology and analytics. Hub Group (NASDAQ: HUBG) is a supply chain solutions company in North America, providing transportation and logistics management solutions across numerous industries. By using its computer network to keep track of them, Hub Group was able to reduce the time the rail containers stood empty between loads. The Company operates through a network of offices throughout the United States, Canada and Mexico. Founder Philip Yeager and his son David are instrumental in managing the publicly owned company, and the Yeager family still controls a majority of Hub Group's stock. It launched a division called Hub Group International in 1994, and focused first on international shipments within North America. Hub Group installed an electronic data interchange, or EDI, computer system that allowed it to link in real time with the computer systems of all the major railroads. Hub officials said this sale represents the byproduct of an exploration of strategic alternatives for Mode that was undertaken by the Hub Group Board of Directors, which they said is part of an ongoing review of alternatives for creating shareholder value that it announced in August. Job Description: JOB SUMMARY: The Director of Compliance is responsible for developing and implementing policies and procedures to mitigate compliance risks for Hub Group and its subsidiaries. By the late 1980s, Hub began to diversify into several focused operating divisions. In 1999, Hub worked out an agreement with several major railroads to let it manage rail containers. Hub Group creates innovative, end-to-end supply chain solutions tailored to your unique business needs. As the company grew, and took on more and more distinguished clients, it targeted new markets. 2) Working more closely with Comtrak will improve the overall quality of Hub’s intermodal product. In this webcast group news editor Jeff Berman gathers our panel of parcel experts to offer their insight into what’s driving market trends and share practical advice for how logistics operations need to readjust to ever-shifting conditions—especially as e-commerce business booms and new last-mile entrants continue to work their way into regional markets to catch the rising volumes. This coordinated the company's over-the-road trucking services. The company went public in 1996 and is traded on the NASDAQ exchange. Hub Group hoped to get a piece of this. As the U.S. auto industry moved toward so-called just-in-time inventory management, it turned to third parties for logistics expertise. Quality Services, the Hub subsidiary, will come under Comtrak’s management. The company’s 2014 plans include adding approximately 2,000 containers, bringing its total fleet to 28,000, and adding 400 drivers to its drayage fleet. “We look forward to continuing to serve our agent, customer and carrier community.". Eventually Highway Services was operated out of a central office in Overland, Kansas. This was a huge boon to Hub, because Sears made more than 70,000 intermodal shipments a year. When Hub acquired Mode, CEO Yeager said that Mode’s services were very complimentary to Hub’s and would give Hub more scale. Yeager was a longtime employee of the Penn Central Railroad. The Hub Group consists of four main business units: Hub Intermodal, which provides access to an extensive fleet of over 24,000 intermodal containers on major North American railroads. At times Hub Highway Services kept track of the operation of 100,000 trucks simultaneously. It took some convincing to get large companies to pay attention to Hub at first, basically because they were unfamiliar with the advantages of intermodal shipping. Hooking the Fortune 500 accounts spurred Hub to rapid growth. Hub Group is a significant partner with all the major U.S. railroads, and is a major revenue producer for them. Up from the mere handful of employees Hub started with, by 1990 it had 350 employees, working out of 35 locations. Around headquarters, as a result of the Cash Forecast reports, employees joked that I-IGDS never made any money, despite the published information to the contrary . Hub gained a major new client in 1993 when the giant detergent company Clorox Co. agreed to let Hub handle all its intermodal shipping for its cleaning products division. Hub Group as a whole had sales of $350 million in 1990. In March 1996 Hub Group went public, listing its stock on the NASDAQ. Hub Group continued to boom in both sales and profits. Bantam soon grew to cover seven major intermodal traffic corridors. Hub Group was the first intermodal shipping agent to install an EDI system, and its technological prowess allowed the company to expand rapidly in the 1990s. Hub Group is a supply chain management company that offers multi-modal freight services including arranging transportation by truck, rail, and more recently, by ship. 76 Branches. In November 2018, CaseStack announced it was being acquired as a division of Hub Group, a transportation management company. Learn to implement digital manufacturing into your supply chain, the benefits of digital manufacturing, and how to minimize the impact of economic and political changes. Hub did little business with automakers previously, but it saw the car market as a viable opportunity. As U.S. automakers moved parts across borders with increasing regularity, Hub felt it was in a good position to arrange intermodal transport for them. The Hub Group provides international shipping expertise through a subsidiary, HLX. Hub Group is honored to receive two more awards, the 2020 Supply & Demand Chain Executive (SDCE) Green Supply Chain Award and Food Logistics 100 Top Software and Technology Providers. Hub Group also opened a subsidiary in Canada in 1990, and moved into the southern California market more aggressively by opening an office in San Diego. The Company believes in conducting its operations honestly and ethically and expects its The sales figure, Hub said, is equivalent to 10x Mode’s adjusted EBITDA for the 12 months ended June 30, 2018. Hub's sales were over $750 million. “While Mode has been very successful, there was a lack of strategic alignment with Hub's centralized business model. HLX coordinates international transport of goods for importers and exporters, planning and managing movement of goods from ship to their final inland destination. Hub also owns and operates the subsidiary Hub Group Trucking Inc., formerly Comtrak, which handles approximately 70 percent of Hub’s drayage needs. Hub Group, Inc. was founded by Philip C. Yeager in Hinsdale, Illinois, in 1971. Freight transportation services provider Hub Group announced late last week it entered into a definitive agreement to sell Mode Transportation, a subsidiary company, to an affiliate of global private investment firm, York Capital Management, for roughly $238.5 million. There are 90 companies in the Hub Group … It began handling shipping needs of online retailers, especially in fulfilling bulky and heavy orders for such items as furniture and exercise equipment. The business grew quickly, expanding into neighboring markets. In 2000, Hub Group announced the installation of a new Internet-based computer system that let carriers arrange shipment details on line. New Operations in the Late 1980s and Early 1990s. UC HUB GROUP, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS FOR THE THREE MONTHS ENDED APRIL 30, 2007 AND 2006 (UNAUDITED) NOTE 1 - BASIS OF PRESENTATION The unaudited consolidated financial statements have been prepared by UC HUB Group, Inc. (the "Company"), in accordance with generally accepted accounting principles … The talented Mode team, combined with York's expertise and significant resources, positions Mode well for realizing the next chapter of its growth.". Hub Group Expands Its Supply Chain Service Offering With the Acquisition of Last Mile Logistics Provider NonstopDelivery, LLC Hub Group, Inc. acquires non-asset based Last Mile logistics provider NonstopDelivery, LLC (“NSD”); enhances end-to-end solutions for its customers in one of the fastest growing sectors of the transportation market. Mode is a non-asset 3PL offering truckload, less-than-truckload, intermodal, ocean, rail, air, and managed transportation services. Hub Group operates a subsidiary company, Hub Group Distribution Services, that offers clients an array of logistics services, coordinating transportation, warehousing, inventory management, set-up and assembly of products and displays, and other services, to businesses nationwide. Intermodal transport still accounted for the bulk of Hub's business, but the company planned to increase its share of revenue from other businesses in the coming years.
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