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Today's Pickup: Money Movements In The Nutmeg State; Carpoclaypse Anyone?

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Today's Pickup: Money Movements In The Nutmeg State; Carpoclaypse Anyone?

Good day,

It's become commonplace at the federal level for Congress to raid the general treasury to shore up the transportation trust fund. In states like Connecticut, the trend seems to be heading in the opposite direction. New Gov. Ned Lamont's first budget proposal aims to shift $1 billion from transportation projects to the state's general fund, writes Kevin Rennie in The Hartford Courant. Such a move, Rennie said, would be a departure from a 2017 state budget which, by 2023, earmarked all the tax collected on motor vehicle sales for a Special Transportation Fund; currently about 8 percent of MV sales tax hits the fund, according to Rennie. What's more, Lamont may push to extend state tolling to passenger vehicles along with trucks, which Rennie called a "stunning reversal" of Lamont's campaign pledge to limit the levy to trucks.

Did You Know?:

Colorado experienced a 14 percent increase in motor vehicle collisions from 2012 to 2016 compared to neighboring states where marijuana remains illegal, according to the Insurance Information Institute.

Quotable:

"Car ownership has ... economically burdened consumers. U.S. households spend more on transportation than on any expenditure other than housing...on a per household basis, the average annual spend on transportation is over $9,500, with the substantial majority spent on car ownership and operation."

--Ridesharing company Lyft in its S-1 filing.

In other news:

Does the driver `shortage' mean the end of the $4.99 Jack-in-the-Box combo meal?

The fast-food chain's price point may soon rise due to a purported truck driver shortage which are driving up freight costs. The impact is being felt across a wide range of everyday products--think kitty litter. (Bloomberg)

Seko's CEO is on the acquisition trail

Freight Forwarder Seko acquisition of customs broker GoodShip International was its first full-blown acquisition, and probably not its last one (Crain's Chicago Business)

Freight Companies Want Faster Blockchain Adoption, New-Nafta Approval, Purolator International President Says

"Blockchain is a much more secure way to identify where a shipment is moving through the supply chain," according to John Costanzo, whose company is a recent Blockchain in Transport Alliance member (SupplyChainBrain)

New waterway lock means mini-boom for Michigan's Upper Peninsula

The New Soo Lock could bring more than 1,000 jobs to Sault Ste. Marie and improve the national shipping infrastructure. (UpperMichiganSource.com)

Want to improve money flow? Follow the invoice

To fix problems with B2B payments in freight and logistics, solution providers must start with the invoice, according to CloudTrade Logistics Vice President Roger Hatfield. (PYMNTS.com)

Final thoughts:

UPS and Amazon.com are on a path toward un-harmonic convergence. Within the past week, UPS rolled out an e-fulfillment program for small to midsize businesses that resembles what Amazon has in place. Then Amazon launched a day-definite delivery service that resembles, though with a couple of key differences, what UPS has in place. For all its talk about valuing its shipping partners--of which UPS is a major one--Amazon has made clear that it views other companies in the space as rivals. How long will UPS stand by and ship stuff for the enemy before it tells Smiley to pound sand?

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