What is happening: Some major shippers have a lot of money on the line if big freight-payment provider IPS Worldwide goes bankrupt.
IPS: IPS Worldwide are said to have debts of over $100 million, with assets of just $50,000. They now face bankruptcy, with a chapter 11 bankruptcy protection filing. This is the first filing in years in the freight payment sector.
Creditors: The creditors include Stanley Black & Decker Inc (a tool maker with $41.6 million in unsecured claims), and Alcoa Corp (a metal giant with $28.8 in unsecured claims).