Alibaba Poised for Biggest U.S. IPO – Alibaba is scheduled to make its trading debut on the New York Stock Exchange today. The company is expected to raise at least $21.8 billion, dethroning Visa’s $17.8 billion Initial Public Offering (IPO) in 2008. Alibaba was founded in 1999 and made its name as a portal to connect Chinese manufacturers with buyers overseas. It has grown exponentially and expanded into online retail, cloud computing, financial services and more.
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FMC Hosts Public Forum on Congestion – This week, the Federal Maritime Commission (FMC) hosted a public forum in San Pedro, CA to discuss congestion at U.S. Ports. Topics included equipment shortages, trucking wait times, technology and PierPass. This forum was part of similar events that occurred earlier in the month in Baltimore, MD and New Orleans, LA.
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Ports of LA and Long Beach Tout Sustainability – The directors of both the Port of Los Angeles and the Port of Long Beach spoke at this week’s PortTech Expo. PortTech is an incubator program designed to foster growth in sustainable technologies for use at the ports. By 2023, LA and Long Beach plan to reduce diesel particulate matter by 80% and sulfur oxide emissions by 53%.
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