CEO Eddie Lampert’s Winning Bid for Sears Valued at $5.2 Billion
Eddie Lampert’s winning bid to salvage Sears Holdings Corp. valued the bankrupt retailer at $5.2 billion, according to a statement.
January 17, 2019December Orders Plunge Amid High Backlog of Trailers
U.S. trailer orders plummeted to 27,800 units in December, off 40% compared with 45,802 a year earlier, reflecting lengthy backlogs and suddenly cautious fleets, ACT Research Co. reported.
January 17, 2019Presence of Autonomous Vehicles Felt in US
WASHINGTON — Technology is changing the transportation landscape as freight carriers move toward self-driving vehicles and public officials look for new ways to develop infrastructure and prepare for what could be a major shift in traffic patterns and driving behavior.
January 17, 2019Oil Slips as Record US Production Undermines OPEC Supply Cut
Oil retreated below $52 a barrel as data showing record U.S. crude production suggested markets may remain oversupplied despite output cuts by OPEC and its allies.
January 17, 2019Chinese Electric Car Manufacturer Set to Crack US Market
The Nasdaq-listed company, Kandi Technologies Group Inc., which started making electric cars in 2013, plans to ship two of its models to the United States this year, Chairman and CEO Hu Xiaoming said Jan. 16. Sales will start after the company clears regulatory procedures, which have been held up by the federal government shutdown, Hu said.
January 17, 2019TRB Panelists Outline Benefits of Freight Data
WASHINGTON — Analyzing and visualizing data can help state departments of transportation and planning organizations better understand traffic flow, safety concerns and capacity needs, according to a group of panelists assembled at the Transportation Research Board’s annual meeting Jan. 16.
January 17, 2019H.I.G. Capital Acquires Lipari Foods
Global private equity firm H.I.G. Capital has acquired Lipari Foods from Sterling Investment Partners, per a Jan. 8 press release. Financial terms were not disclosed.
January 16, 2019Parcel Lockers, EVs Combine for Energy Savings in Final Mile, Researcher Says
WASHINGTON — Electric trucks and vans show great promise for energy savings in making suburban deliveries for companies such as UPS Inc., according to an Oak Ridge National Laboratory scientist who presented her findings to a forum at the Transportation Research Board’s annual meeting.
January 16, 2019Former Transportation Secretary Mary Peters Receives Lifetime Achievement Award
WASHINGTON — Mary Peters, one of two secretaries of transportation during President George W. Bush’s tenure, was recognized with a lifetime achievement award at the annual meeting of the Transportation Research Board.
January 16, 2019High Court Rules Independent Contractors May Bypass Arbitration, Challenge Fleets in Court
In a unanimous decision, the U.S. Supreme Court on Jan. 15 limited the ability under federal law for motor carriers to force disputes with owner-operators to be resolved in arbitration, a ruling that could cause an increase in future class-action lawsuits by truck drivers.
January 16, 2019