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.
ABF Logistics Buys Oklahoma Brokerage Firm
ABF Logistics has purchased Smart Lines Transportation Group, a truckload brokerage firm based in Oklahoma City, for $5.17 million.
January 5, 2015Volvo Completes 45% Acquisition of China’s Dongfeng Commercial Vehicles
Volvo AB said Jan. 5 it completed its 45% acquisition of Chinese automotive manufacturer Dongfeng Commercial Vehicles Co. for about $885 million.
Morgan Named Cowan Systems President
Dennis Morgan has been promoted to the president’s post at Cowan Systems, where Joseph Cowan will remain chairman and CEO.
January 5, 2015Clean Energy Sells Stake in Texas Biomethane Facility
Clean Energy Fuels Corp. has sold its majority stake in the McCommas Bluff biomethane production facility in Dallas for $40.6 million.
January 5, 2015Sen. Thune: Congress Should Consider All Options to Fund Infrastructure
The next chairman of a key Senate transportation panel said federal lawmakers should “look at all the options” to keep infrastructure projects funded in the coming years.
Sen. Sanders to Introduce Infrastructure Bill
Sen. Bernie Sanders (I-Vt.) plans to introduce a bill in the new session of Congress to authorize $1 trillion in spending over several years to rebuild the nation’s roads and bridges and invest in other infrastructure modernization projects.
Intermodal Rail Traffic Rises 5.2% in 2014
U.S. rail intermodal traffic increased 5.2% in 2014 from the prior year, the Association of American Railroads reported.
January 5, 2015Young Home Buyers Return as Economy Accelerates
After Damien and Tina Bucci were approved for a mortgage in 2012, they decided they couldn’t afford the biggest purchase of their lives without greater confidence in the U.S. economy. Next month, they will close on their first home, a four-bedroom Colonial with a half-acre yard.
Oil Extends Decline From 5 1/2-Year Low as Glut Persists
Oil fell for a third day, extending its drop from the lowest close since 2009, as record supplies from Iraq and Russia bolstered speculation that a global glut that drove crude into a bear market will persist.
Reasons Nobody Wants to Buy Your Company
Now is a great time to sell a trucking business. The problem for potential sellers is that too many owners neglect to implement fundamental business practices that have a direct effect on their company’s marketability and value to prospective buyers.
January 5, 2015