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.
Tight Capacity Starts to Squeeze Private Fleets, Executives Say
CINCINNATI — A strengthening freight market is leading to higher freight rates, and more loads are going unclaimed, attendees at the National Private Truck Council’s annual management conference said.
April 26, 2010James ‘Whit’ Whittinghill Dies at 57
James “Whit” Whittinghill, the one-time chief lobbyist for American Trucking Associations, died April 15 at his home in Arlington, Va. He was 57.
April 26, 2010ABF, Union Reach Agreement on 15% Reduction in Wages
Arkansas Best Corp.’s ABF Freight System and the Teamsters union said they have reached agreement on a 15% wage reduction to help the less-than-truckload carrier cope with losses triggered by the recession.
April 26, 2010FedEx, UPS Play Catch-Up as Volcano Causes Delays
FedEx Corp. and UPS Inc. again have access to their European hub airports after spending nearly a week of enduring flight cancellations and seeking ground-based transportation alternatives after a volcano in Iceland began spewing hot ash into the skies over the continent, closing airports and stilling the movement of air freight.
April 26, 2010Truck Orders Rise 28%
New orders for Class 8 trucks in March rose 28% from a year earlier, the second month in a row they have climbed, as buyers put requests for 11,285 new vehicles on the books, according to ACT Research Co.
April 26, 2010Diesel Average Rises to $3.074 in Third Straight Gain
The average price of retail diesel in the United States rose a half-cent last week to $3.074 a gallon, the Department of Energy reported, slowing a two-month run-up that has sent diesel over $3 for the first time since November 2008.
April 26, 2010Daimler Trucks in Labor Pact With Workers at Three N.C. Truck Plants
Daimler Trucks North America won a new series of three-year labor contracts covering three North Carolina truck plants making heavy- and medium-duty Freightliners and parts for the trucks.
April 26, 2010Navistar Withdraws CARB Lawsuit Over SCR Technology
Navistar International Corp. has withdrawn a lawsuit that it had filed against the California Air Resources Board, following an agreement with CARB that addressed the engine-related issues that prompted its original court action.
April 23, 2010Volvo’s Truck Unit Swings to First-Quarter Profit
Volvo AB said Friday its truck unit was profitable in the first quarter compared with a year ago, as North American sales rose 6%.
April 23, 2010Arkansas Best’s First-Quarter Loss Widens
Arkansas Best Corp. said Friday it lost $21.4 million, or 85 cents a share, in the first quarter, compared with a loss of $18.2 million, or 73 cents, a year ago.
April 23, 2010