Navistar Sets ‘Poison Pill’ to Block Hostile Takeovers
Navistar International Corp.’s board of directors last week moved to block a potential hostile takeover, as the truck maker tries to restore profitability and awaits Environmental Protection Agency approval for its new 13-liter engine.
June 25, 2012FedEx’s Quarterly Profits Rise to $634 Mln.On Strong Performance of LTL Division
FedEx Corp. said its fiscal fourth-quarter earnings, excluding a charge for aircraft retirements, rose to $634 million, helped by a 93% increase in operating income at the FedEx Freight segment.
June 25, 2012Trucking Shares Outpace Other Transport Equities, Standard & Poor’s 500
Trucking stocks may not have boomed over the past 12 months, but on average, their improvement has outpaced other transportation equities and the stock market as a whole.
June 25, 2012Road Bill Battle Continues as Funding Deadline Nears
Days before all federally funded transportation projects could be forced to shut down, House and Senate negotiators were trying late last week to come up with a long-term reauthorization bill or another temporary extension.
June 25, 2012Diesel Drops 5.2¢ to $3.729 After 10th Consecutive Decline
U.S. diesel prices continued their longest slide in 3½ years, as the national average declined 5.2 cents to $3.729 a gallon last week, the Department of Energy reported.
June 25, 2012Gasoline Could Drop Below $3 by the Fall
Gasoline could fall below $3 a gallon by the fall, in contrast to predictions earlier this year that it would approach $5, USA Today reported Friday.
June 22, 2012DOT Sets $500 Million in Transportation ‘TIGER’ Grants
Transportation Secretary Ray LaHood Friday announced that 47 transportation projects in 34 states will receive almost $500 million in funding from DOT.
June 22, 2012Intermodal Traffic Rises 5.2% for Week
U.S. intermodal traffic rose 5.2% for the week ended Saturday from a year ago, the Association of American Railroads said.
June 22, 2012Kenworth T680 Earns EPA SmartWay Designation
Kenworth Truck Co. said its new T680 heavy-duty truck has been SmartWay-certified by the U.S. Environmental Protection Agency.
June 22, 2012Section of New Panama Canal Lock Completed
The Panama Canal Authority announced the completion of the first section of a new lock wall as part of its $5 billion expansion project that is intended to double the waterway’s freight-handling capacity.
June 22, 2012