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.
N.C. Officials Announce Chick-fil-A Distribution Center
North Carolina Gov. Roy Cooper welcomed news that Chick-fil-A Supply will invest $58.3 million to build a distribution center, creating more than 112 jobs, including for truck drivers.
Tesla Cybertruck Will Be Auctioned at Petersen Museum Gala
An early Tesla Inc. Cybertruck is one of the key items up for grabs at the Petersen Automotive Museum Gala on Oct. 7 in Los Angeles.
US Automakers’ Sales Rose Sharply Over the Summer
DETROIT — Automakers posted big increases in new vehicle sales during the summer, despite high prices, rising interest rates and even a limited strike against Detroit companies.
Uber Offers to Return Parcels for $5
Uber said Oct. 4 that its drivers will collect up to five prepaid and sealed packages and drop them off at a local post office or at UPS or FedEx stores.
Former CEO Buys Lordstown Motors’ Assets for $10 Million
CLEVELAND, Ohio — The former CEO of Lordstown Motors Corp. has bought the company’s assets for $10 million, according to documents filed with the U.S. Securities and Exchange Commission.
Cyberattack Hits Estes Express Lines’ IT Systems
Estes Express Lines on Oct. 3 confirmed that its IT systems were the target of an ongoing cyberattack, but said its trucks were still moving freight.
UPS Buys MNX Global to Bolster Health Care Options
UPS Inc. will acquire MNX Global Logistics for an undisclosed sum, the parcel delivery company said Sept. 28. The deal is expected to close by the end of the year.
October 3, 2023Cummins Unit Completes Acquisition of Faurecia Plants
Cummins Emission Solutions completed the acquisition of two Faurecia commercial vehicle manufacturing plants in Indiana and the Netherlands for $208.56 million, Cummins Inc. said.
Texas to Invest $240 Million in 31 Port Projects
Thirty-one port projects in Texas will begin receiving an estimated $240 million in state funds to improve those facilities and bolster the state’s supply chains.
ATA Honors Lawmakers’ Fentanyl Response
WASHINGTON — The charitable arm of American Trucking Associations recognized members of Congress who are working to raise awareness of fentanyl addiction in the United States.