FFE Trims Fleet, Jobs to Reverse Recent Losses
Frozen Food Express Industries is restructuring its operations, eliminating about 150 non-driver employee positions and reducing the size of its trailer fleet by more than 20%.
Increasing Costs Put Pressure On Trucking to Seek Higher Rates
A booming economy generated strong demand for freight hauling, but rising costs for fuel, equipment, insurance and driver wages took a toll on many fleets in 1999.
UPS Pulls in $5.47 Billion With Historic Stock Offering
United Parcel Service’s decision to go public provided the biggest spark in an otherwise quiet year for trucking stocks.
Labor, Fuel Pinched Fleets in '99
A booming economy generated strong demand for freight hauling, but rising costs for fuel, equipment, insurance and driver wages took a toll on many fleets in 1999.
Reefer Charges to Rise
On the heels of increases by dry van and truckload lines, carriers that haul refrigerated cargo are planning to raise freight rates by as much as 10% this year.
Landstar Unit Keeps Safety Rating
Federal transportation safety officials decided to let Landstar Ligon retain its satisfactory safety rating after a review found the flatbed carrier to be in compliance with safety regulations.
Trimac Unit Ends Transervice Talks
Trimac Corp. said negotiations between Rentway Ltd., its Canadian-based truck leasing unit, and shareholders of Transervice Lease Corp. have been terminated.
Driver Pay on the Rise
The booming U.S. economy has been a two-edged sword for trucking: the good news being that demand to move freight has never been higher thanks to rising pay levels and nearly full employment; the bad news being that fewer people seem ready to drive trucks at existing pay levels.
Management Firm Buys Hadley Auto Transport
Hadley Auto Transport, a family-owned business started in 1931, has been sold to Hidden Creek Industries, a Minneapolis-based investment management firm with interests in a variety of automotive and truck equipment suppliers.
Trans-State Lines Purchased by Management Group
A management group led by president William H. Clark has purchased Trans-States Lines of Fort Smith, Ark., from the H.L. Hembree family, which has owned the company since 1989.