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.
Economy Expands Moderately; Cargo Volume Rises After Harsh Winter, Fed Says
The economy continued to expand moderately from early April to late May in most of the country with cargo volume and shipments increasing after a difficult winter, the Federal Reserve said.
June 4, 2014May Truck Orders Climb 14.2%
Class 8 truck sales climbed 14.2% in May from a year earlier, offering further evidence that the industry has begun to enter a growth cycle, ACT Research reported.
Rogers to Succeed Wolfe as Universal CEO
Universal Truckload Services Inc. said CEO Scott Wolfe will retire at the end of 2014 and be succeeded by former YRC Freight President Jeff Rogers.
June 4, 2014ATA Calls on Senators to Approve FMCSA Restart Study
Members of the trucking industry urged key senators on June 3 to approve a one-year suspension of restart restrictions aimed at truck drivers when a Senate committee considers a fiscal 2015 transportation funding bill later this week.
Grede Acquired by Equity Firm
Trucking component manufacturer Grede Holdings said it has been sold to private equity firm American Securities. Terms were not disclosed.
June 4, 2014Worker Productivity Declined in First Quarter
U.S. workers’ productivity declined in the first quarter at a higher rate than previously estimated to the weakest showing since start of the recession in 2008, the Labor Department reported.
June 4, 2014Trade Gap Widest in Two Years
The trade deficit ballooned in April to the widest in two years as Americans bought record amounts of consumer goods, business equipment and automobiles from abroad.
June 4, 2014Hino Partners with Telogis in Telematics Deal
Medium-duty truck maker Hino Trucks has partnered with technology supplier Telogis to provide its next-generation telematics platform.
June 4, 2014Ferro Tells Senate Panel HOS Rules are Working
Federal Motor Carrier Safety Administrator Anne Ferro told a Senate panel that the agency knew its new hours-of-service rules would affect trucking’s productivity but that data is expected to show the HOS rules are increasing safety.
Transportation Programs Need Long-Term Funding, Says DOT’s Mendez
ARLINGTON, Va. — Acting Deputy Transportation Secretary Victor Mendez on June 3 cautioned Congress against approving a short-term legislative fix to address looming shortfalls in highway funding this summer, urging it to approve a long-term “strategic” plan instead.