Caterpillar Sued Over Heavy-Duty Engines
Three trucking companies are suing Caterpillar Inc. over the sale of what their legal counsel says are “defective” 13- and 15- liter diesel engines for heavy-duty trucks. The Texas law firm representing the companies now is looking for fleets to join the litigation.
August 9, 2010Diesel Price Gains 0.9¢ to $2.928 a Gallon
The U.S. diesel average price rose 0.9 cent to $2.928 a gallon last week, the second straight gain, but just the third increase in the past 12 weeks, the Department of Energy reported Aug. 2.
August 9, 2010Weekly Intermodal Traffic Reaches 2010 High
Weekly intermodal rail traffic jumped 20.2% last week, reaching the highest levels of the year, the Association of American Railroads reported.
August 6, 2010UPS to Build Healthcare Logistics Hubs in Singapore, China
UPS Inc. plans to open two health-care-logistics hubs in Singapore and China to tap rising regional demand for medical devices and drugs, Bloomberg reported Friday.
August 6, 2010Navistar Execs Must Return Bonus Pay, SEC Says
Navistar Inc.’s top executive and its former finance chief will return more than $2 million in bonus pay to the company as part of a deal to settle federal charges of accounting misconduct.
August 6, 2010Unemployment Rate Holds at 9.5%; Trucking Jobs Increase
The U.S. unemployment rate held at 9.5% in July as total payrolls fell, and the trucking industry’s payrolls jumped by almost 6,000, the Labor Department said Friday.
August 6, 2010Postal Service Posts $3.5 Billion Quarterly Loss
The U.S. Postal Service lost $3.5 billion in its fiscal third quarter, more than $1 billion more than it lost in the same period a year ago, the Associated Press reported.
August 6, 2010Senate Bill Would Allow Heavier Trucks
A trio of senators introduced a bill that would allow states to increase the maximum weight for trucks operating on their interstates beyond the federal limit of 80,000 pounds.
August 5, 2010Roadrunner Reports 2Q Loss in First Public Statement
Roadrunner Transportation Systems, which went public in May, released its first public earnings statement, saying it posted a second-quarter loss, though its trucking sectors showed improvement.
August 5, 2010Pacer Swings to Second-Quarter Profit
Transportation and third-party logistics firm Pacer International earned $1.4 million, or 4 cents a share, in the second quarter, turning around a loss of $7.3 million, or 21 cents, a year ago.
August 5, 2010