FedEx Parent’s Stock Rises
Powered by an expanding domestic economy and lower fuel prices, FDX Corp., the parent of Federal Express Corp. and RPS Inc., posted better-than-expected profits in its second fiscal quarter.
CF Expects More Profits in 4th Quarter
Consolidated Freightways said it expects its fourth-quarter earnings to be substantially better than consensus estimates of 28 cents a share.
Penske To Serve Whirlpool Corp.
Penske Logistics was named lead logistics provider for Whirlpool Corp.’s regional distribution system.
Rumored CF-Yellow Deal Falls Through
Is another big-time merger among less-than-truckload carriers in the offing.
Shippers Ask STB for Help
Captive rail shippers pleaded with the Surface Transportation Board last week to “restore and enhance” competition in the Houston and Gulf Coast areas by granting other railroads access to Union Pacific lines and allowing some customers to build links to other carriers.
Xtra Terminates Talks, Offers to Buy Back Stock
Xtra Corp. ended merger discussions with Apollo Management and Interpool Inc. and said it intends to remain an independent public company.
Surface Transportation Board Extends Authority to Set Rates
The Surface Transportation Board extended for one year the authority of motor carrier rate bureaus to set rates and the National Classification Committee to establish commodity classes for freight moving by truck.
Treadco Settles Bandag Dispute
Arkansas Best Corp. said its Treadco Inc. subsidiary settled its long-running dispute with Bandag Inc. over Bandag’s recruitment of Treadco executives and attempts to divert customers from Treadco.
CF-Yellow Deal Falls Through
Is another big-time merger among less-than-truckload carriers in the offing?
Shippers Ask STB for Help
Captive rail shippers pleaded with the Surface Transportation Board last week to “restore and enhance” competition in the Houston and Gulf Coast areas by granting other railroads access to Union Pacific lines.