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.
Sen. Booker Proposes HOS Amendment To Transportation Bill
New Jersey Democrat Cory Booker officially unveiled an amendment to a fiscal 2015 funding bill on June 18 that would undo a provision that would suspend for one year a rule that puts limits on the time truckers can operate on roadways.
Senators Propose Raising Federal Motor Fuels Tax to Boost Trust Fund
Two senators on June 18 unveiled a plan aimed at boosting a federal highway account used by states to pay for infrastructure projects that the federal government estimates will run out of money in August.
FedEx Corp.’s 4Q Income Rises to $730 Million
FedEx Corp. reported its fiscal fourth-quarter net income rose to $730 million, or $2.46 per share, from $679 million, or $2.13, a year ago.
June 18, 2014Clean Energy Opens LNG Station in El Paso
Clean Energy Fuels Corp. said it opened a public liquefied natural-gas fueling station in El Paso, Texas, on June 17 that would enable LNG trucks to drive from Los Angeles to Houston on Interstate 10.
June 18, 2014ProSight Offers SmartDrive Video Safety with Insurance Package
ProSight Specialty Insurance is now offering to pay for its transportation customers to adopt video-based fleet safety technology through a new insurance package.
Union Pacific Increases Intermodal Service From West Coast to Chicago
Union Pacific said it is increasing the frequency of intermodal service from Portland, Oregon, and Northern California to Chicago to create more truck-competitive service.
June 18, 2014Wex Inc. to Acquire Health-Care Payment Firm for $532.5 Million
Wex Inc. will acquire health-care payment firm Evolution1 for $532.5 million, the fleet payment-processing company said.
June 18, 2014Senate to Consider Transportation Bill, HOS Amendment June 19
The Senate will reconvene on June 19 and continue its consideration of an expansive fiscal 2015 funding bill that, among other things, would suspend for a one year a rule that puts limits on the time truckers can operate on roadways.
Senate Republicans Urge Finance Committee Chairman To Approve Short-Term Trust Fund Fix
Nearly every Republican on the Senate Finance Committee has asked the panel’s Democratic chairman to approve a short-term legislative fix that would shore up a federal highway account projected to run out of money in August.
ATA Truck Tonnage Index Rose 3.4% in May
Truck tonnage rose 3.4% last month, helped by growth in all sectors of the trucking industry, American Trucking Associations reported.
June 17, 2014