Business
Transport Topics business coverage focuses on the financial, economic, and commercial aspects of the modern freight business. Looking at both the microeconomic and macroeconomic forces shaping bottom lines, the news in this category includes labor news, jobs reports, tonnage and sales indicators, operations analysis, money and banking, mergers, acquisitions, e-commerce, bankruptcy, insurance issues, and more.
NTDC Canceled Because of Coronavirus Concerns
American Trucking Associations’ National Truck Driving Championships and National Step Van Driving Championships have been canceled due to coronavirus-related concerns. But states remain free to make independent decisions about their own events.
UPS Manages Airlift of Health Care Supplies for FEMA
UPS launched a two-week operation to run 25 cargo flights carrying masks, gloves, surgical gowns and other equipment for the health care industry under the federal government’s Project Airbridge.
March Class 8 Orders Drop to Recessionary Levels
Orders for North American Class 8 vehicles in March fell below 8,000, ACT Research reported, as already weak freight demand collided with the spreading coronavirus.
FedEx CEO Fred Smith Takes 91% Cut in Salary for Six Months
FedEx Corp. said Chairman and CEO Fred Smith is taking a salary cut, effective April 1, from $115,402 per month to $10,728 per month through Sept. 30.
Ship Crews Stuck in Lockdown Strain Global Supply Chains
Port restrictions and canceled flights are straining the ability to replace seafarers on board ships, further weakening global supply chains already snarled by the coronavirus pandemic.
April 7, 2020Stakeholders Tell Congress, Governors: CDLs, Permits Need to Be Processed
To avert a potential truck driver shortage during the coronavirus emergency, a coalition of large businesses and trade groups has urged Congress and the nation’s governors to implement procedures that would allow new drivers to more quickly obtain commercial learner permits and commercial driver licenses.
GAO’s Recommendations on NTSB’s ‘Most Wanted List’ Prompt Action
The head of the National Transportation Safety Board agreed more transparency would improve the public’s understanding of a high-profile report after a federal watchdog recommended better access to its methodology.
Congress, White House Reach High for Next Virus Bill
Congressional leaders are jolting ahead with another coronavirus rescue package as President Donald Trump indicated that Americans will need more aid during the stark pandemic and economic shutdown.
Low-Cost Airlines Seeking Aid Get Break on Minimum-Flight Rule
The federal government ordered airlines accepting financial aid to maintain minimal service levels to cities they served before the COVID-19 pandemic ravaged the transportation system, but made adjustments for low-cost carriers and those that fly to some destinations only part of the year.
Tesla’s Ventilator Production in New York Has Yet to Begin
Elon Musk promised nearly two weeks ago that the Tesla factory in Buffalo, N.Y., would reopen for ventilator production to help with the coronavirus pandemic. But it still hasn’t happened yet.