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.
Daseke Buys Canadian Energy Services Firm Aveda
Daseke Inc. on April 16 continued its acquisition activity, announcing it will purchase Aveda Transportation and Energy Services, a large North American oil rig moving company based in Calgary, Alberta. The deal is expected to close in June.
Nussbaum Transportation Begins Employee Stock Ownership Plan
Brent Nussbaum, CEO of Nussbaum Transportation, gave 35% of ownership to employees through an employee stock ownership plan, known as an ESOP.
Oil Rises to Highest Since 2014 on Bullish US Inventory Report
Crude rose to its highest level since 2014 in New York as the drop in U.S. inventories reported by an industry group helped to sustain a rally spurred by geopolitical risks.
UPS Picks George Willis to Oversee US Package Operations
UPS Inc. has tapped George Willis as president of U.S. operations, succeeding Myron Gray, who will retire May 1 after a 40-year career at the Atlanta-based parcel carrier.
Soon-to-Be New York Fed Chief John Williams Sees Little Risk in Rate Hikes
John Williams, who will take the helm of the Federal Reserve Bank of New York in June, played down risks the yield curve would become inverted as the U.S. central bank gradually raises interest rates.
New Hampshire Self-Driving Vehicle Legislation Faces Speed Bumps
A bill that would allow companies to road-test self-driving vehicles in New Hampshire may be facing some speed bumps.
Peoples Services Acquires Grimes Cos. to Expand in Southeast
Peoples Services Inc., a logistics firm based in Canton, Ohio, acquired the assets of The Grimes Cos. in Jacksonville, Fla., a move that substantially expands the company’s warehousing and distribution services in the southeastern United States.
April 18, 2018New Tax Law Boosts Trucking Industry, ATA Chairman Dave Manning Says
WASHINGTON — The trucking industry continues to experience economic benefits resulting from the recently enacted federal tax overhaul, the chairman of American Trucking Associations told House Republican leaders on Capitol Hill on April 17, the country’s deadline for filing taxes.
CSX Announces Strong First-Quarter Earnings as Results Exceed Expectations
CSX Corp., the country’s third-largest railroad, reported stronger-than-expected earnings April 17 as the company cut costs. First-quarter net earnings were $695 million, or 78 cents per share. That is more than the 66 cents per share analysts had been expecting.
Mayor Eric Garcetti Says SpaceX to Build New Rocket in Port of Los Angeles
SpaceX has chosen to manufacture its planned big, new rocket in the Port of Los Angeles, Mayor Eric Garcetti announced April 16 in his annual state of the city speech.