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.
Eaton to Pay Meritor $500 Million to Settle Antitrust Suit
Component makers Meritor Inc. and Eaton Corp. announced June 23 that Eaton will pay $500 million to a Meritor joint-venture unit to resolve a 2006 antitrust lawsuit.
House GOP Leader McCarthy Opposes Gas Tax Increase
Incoming House Majority Leader Kevin McCarthy (R-Calif.) said on June 22 he wouldn’t support increasing the federal tax as a legislative solution for shoring up a federal highway account that funds highway programs at the state level.
Cummins’ Charlton to Retire, Rumsey Takes New Post
Cummins Inc. said Vice President and Chief Technical Officer Steve Charlton is retiring on July 1 and is being succeeded by Jennifer Rumsey as vice president of engineering in the company’s engine unit.
June 23, 2014Gasoline Rises to $3.71 a Gallon in Lundberg Survey
The average price for regular gasoline at U.S. pumps climbed 1.87 cents in the past two weeks to $3.71 a gallon, according to Lundberg Survey Inc.
June 23, 2014Sales of Existing Homes Climbed in May
Purchases of previously owned U.S. homes rose more than projected in May, a sign the industry is stabilizing after a weather-depressed quarter.
June 23, 2014Hendrickson to Acquire Austrian Components Business
Truck component-maker Hendrickson said it plans to acquire the leaf spring and stabilizer segments of the Austrian Frauenthal Group, along with a number of its subsidiaries in Europe.
June 23, 2014Rugged Handheld Provider Launches New Device
Rugged handheld provider Two Technologies has launched a new mobile device aimed at the over-the-road trucking market.
June 23, 2014Tonnage Rises 3.4% in May
Truck tonnage rose 3.4% last month, driven by broad-based growth in all sectors of the trucking industry and an improving economy overall, American Trucking Associations reported.
June 23, 2014Opinion: Trucking Industry’s Culture of Safety
Within all segments of the trucking industry, safety is always a priority. Two recent incidents — an extremely offensive ad from a personal injury law firm depicting a Class 8 tractor with the words “Serial Killer” at the top and a tragic accident involving comedian Tracy Morgan — have generated outside attention to perceived lack of safety in the industry.
June 23, 2014Editorial: Funding Glimmer on the Horizon
We in the news business have long appreciated the value of deadlines, and now the nation may be on the cusp of reaping a substantial benefit because even members of Congress have not been able to bulletproof themselves against time — not that they haven’t tried.
June 23, 2014