Penske Automotive Reports Record Earnings
Penske Automotive said its first-quarter income and earnings per share were the highest in its history, while Penske Logistics announced it won a bid to manage a BMW distribution center in Pennsylvania.
May 1, 2013Vermont Gov. Signs Fuel-Tax Increase
Vermont Gov. Peter Shumlin (D) signed a transportation budget bill Monday that will boost the state’s current diesel fuel tax by 2 cents beginning July 1, and the gasoline tax by 5.9 cents a gallon, effective Wednesday.
April 30, 2013ATA, Transportation Groups React Positively to DOT Nominee Foxx
Transportation stakeholder groups, including American Trucking Associations, reacted positively to President Obama’s announcement that he has picked Charlotte, N.C., Mayor Anthony Foxx to be the next transportation secretary.
April 30, 2013N.Y.-N.J. to Renovate Bayonne, Goethals Bridges
The Port Authority of New York and New Jersey has awarded a $743 million contract to raise the deck of the Bayonne Bridge by 64 feet to allow larger ships to pass underneath it, an upgrade that port officials said is critical for the port to remain competitive after a widening of the Panama Canal is completed in 2015.
April 30, 2013Meritor Reports Fiscal 2Q Loss
Meritor Inc. reported a loss for its second fiscal quarter, and the truck component maker said it plans to sell 50% of a joint venture in Brazil.
April 30, 2013Qualcomm Unit That Contains Trucking Business Breaks Even
Qualcomm Inc. said the division that includes its truck technology business broke even in the company’s fiscal second quarter.
April 30, 2013Arkansas Best Reports First-Quarter Loss
Arkansas Best Corp. reported a first-quarter loss, as higher revenue and tonnage at its less-than-truckload unit ABF Freight System were offset by higher wage and benefit costs.
April 30, 2013Cummins’ 1Q Income Declines
Engine maker Cummins Inc. said Tuesday its first-quarter earnings slipped from a year ago on “weaker demand in most major geographies and end markets.”
April 30, 2013Navistar Starts Shipping ProStars with MaxxForce Engines
Navistar International Corp. said it has begun shipping International ProStar truck models powered by its MaxxForce 13-liter engine ahead of schedule.
April 30, 2013Diesel Declines for Ninth Week, Falling 3.6¢ to $3.851; Gas Dips 1.6¢
Diesel fell for the ninth straight week, dropping 3.6 cents to $3.851 per gallon, the Department of Energy reported.
April 30, 2013