Business

Daimler AG announced its board has approved a restructuring, first discussed in 2017, that would create three independent units under Daimler’s umbrella as a holding company after the most thorough due diligence in the company’s 130-year history.

Ford Motor Co. profit fell to $1.07 billion in the second quarter, down about 50% from the $2.05 billion it made in the second quarter of 2017.

The year has been another one for the record books at the Savannah ports.

Forward Air Corp., a mostly expedited LTL carrier, reported July 26 second-quarter net income of $24.3 million, or 83 cents per share compared with $19.7 million, or 65 cents, a 23% increase from a year ago. The company’s operating revenue increased to $330.3 million compared with $283.9 million, a 16% jump.

Less-than-truckload carrier Old Dominion Freight Line saw its second-quarter net income increase by 66%, jumping to $163.4 million compared with $98.4 million in the same period a year ago. On a per-share basis, net profit was $1.99, compared with $1.20 last spring.

Knight-Swift Transportation Holdings Inc. lost almost a fifth of its market value July 26, marking the biggest drop in four years, after sales fell because of a lack of drivers.

A fiscal 2019 transportation funding bill that would call attention to concerns livestock haulers have raised about electronic logging devices is included in a legislative package under consideration in the Senate.

In a federal lawsuit filed July 19, the Western States Trucking Association alleges that the California Supreme Court’s new “ABC test” requirement for deciding if a contractor should be an employee “forces virtually all independent contractors to become employees to those they choose to contract or work with.”