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.
June Truck Sales Fall 8.9%
Truck makers sold 15,929 Class 8 vehicles in the United States in June, the highest total so far in 2013, but also the 10th consecutive year-over-year decline, WardsAuto.com reported.
July 22, 2013Pilot Agrees to Settle Lawsuits Over Fuel-Price Fraud Claims
Pilot Flying J last week agreed to settle nationwide fuel-price fraud complaints in a class-action proceeding to end a three-month saga that could cost the company at least $26 million.
July 22, 2013XPO Agrees to Buy 3PD for $365 Million, Its Eighth Acquisition in 18 Months
Rapidly growing XPO Logistics Inc. agreed to buy 3PD Inc., a third-party logistics company, for about $365 million in the most expensive publicly disclosed transport-sector transaction this year.
July 22, 2013Medical Groups, States Oppose FMCSA Plan to Require Daily Reports of Drivers’ Physicals
Medical professionals and state driver licensing agencies objected to a proposal to require daily updates of commercial drivers’ physical exam information, telling federal regulators the system would be burdensome and costly.
July 22, 2013Fleets Report Modest Second-Quarter Gains, Say Operating Conditions Remain Difficult
An initial round of second-quarter trucking earnings from J.B. Hunt Transport Services Inc. and Marten Transport Ltd., showed modestly higher results last week, which may signal a trend for the industry.
July 22, 2013KLLM Owners to Buy FFE in $38.2 Million Reefer Deal
Two Mississippi businessmen have agreed to purchase Frozen Food Express Industries for $38.2 million, which could lead to the creation of the third-largest refrigerated carrier in North America.
July 22, 2013Nat-Gas Truck Sales Get Serious With New Engine, Kenworth Says
CHILLICOTHE, Ohio — Natural gas-powered engines have moved beyond the “science project” stage and into the trucks-for-sale phase, and Kenworth Trucks executives said they believe they can sell every 12-liter Cummins Westport engine they can obtain.
July 22, 2013Failures Hit 2-Year High as Fleets’ Costs Increase
U.S. trucking bankruptcies reached a two-year high of 205 during the second quarter, nearly triple the failures in the corresponding period last year, as fleets battled steadily rising costs, according to a new report.
July 22, 2013Medium-Duty Sales Gain 16.6% in June, Driven by Demand for Class 6 Trucks
Medium-duty truck sales climbed 16.6% in June from a year earlier, led by a 53.1% surge in Class 6 purchases, according to WardsAuto.com.
July 22, 2013Rising Oil Pushes Fuels Higher; Diesel Up 3.9¢, Gas Soars 14.7¢
Retail diesel prices rose for a second straight week, hitting $3.867 a gallon after advancing 3.9 cents, while gasoline prices soared, according to the Department of Energy.
July 22, 2013