In today's episode, we cover: FedEx Freight Spinoff: We kick things off with the major corporate shakeup at FedEx Corp., whose board of directors has officially approved the spinoff of its less-than-truckload (LTL) unit, FedEx Freight. We discuss the details of the separation, which is set to conclude by June 1, and how the new standalone company will trade on the New York Stock Exchange under the ticker symbol "FDXF". UP-NS Rail Merger Application: Next, we head over to the rails to unpack the ongoing regulatory proceedings between Union Pacific (UP) and Norfolk Southern (NS). The two Class I railroads have submitted a revised merger application to the Surface Transportation Board (STB), defending it as "comprehensive and complete" after their initial filing was rejected for lacking adequate market-share data and specific merger agreement details. New Jersey's Independent Contractor Rules: Finally, we look at the crucial changes to New Jersey's controversial independent contractor rule impacting truckers. Trucking companies are breathing a cautious sigh of relief as the revised rule removes language that would have classified a worker as an employee simply because the company required them to comply with federal or state safety regulations.Follow the FreightWaves NOW PodcastOther FreightWaves ShowsLearn more about your ad choices. Visit megaphone.fm/adchoices