FedEx Sees ‘Flat’ Shipments in Fiscal 2010
FedEx Corp. predicted that shipping volumes will remain “relatively flat” in the fiscal year started last month amid “continued softness in demand,” Bloomberg reported.
July 16, 2009I-75 Stretch Closed Near Detroit Following Accident
A two-mile stretch of Interstate 75 is “indefinitely closed” in both directions near Detroit following a large but non-fatal accident involving a tanker truck Wednesday night, the Associated Press reported.
July 16, 2009Landstar’s 2Q Income Declines
Truckload carrier Landstar System said late Wednesday its second-quarter net income fell to $17.9 million, or 35 cents a share, from $29.8 million, or 56 cents, a year ago.
July 16, 2009Initial Jobless Claims Fall for Week
Initial jobless claims fell by 47,000 last week to 522,000 from the week before, the Labor Department said Thursday.
July 16, 2009USA Truck Reports 2Q Loss
Truckload carrier USA Truck reported a second-quarter loss of $1.1 million, or 11 cents per share, compared with net income of $2.1 million, or 21 cents, a year ago.
July 16, 2009Oil Tops $61 Following DOE Inventory Report
Oil rose by the most in six weeks Wednesday following a Department of Energy report that showed declines in crude stockpiles and a modest uptick in diesel demand, Bloomberg reported.
July 15, 2009Fed Minutes Show Concern on Economy, Tight Credit
Federal Reserve officials judged the economy to be at risk from further shocks when they met last month and kept a key interest rate at an all-time low, according to minutes of the meeting released Wednesday.
July 15, 2009Carter Logistics Opens Cross-Dock in Mich.
Third-party logistics firm Carter Logistics said it has opened a new cross-dock facility in Romulus, Mich.
July 15, 2009YRC, Teamsters Reach Tentative Deal on Additional Cost Cuts
YRC Worldwide and the Teamsters union have reached a tentative agreement that would reduce wages another 5% and set other cuts that would save the company about $870 million, while giving the union an option for more company stock.
July 15, 2009J.B. Hunt’s 2Q Income Falls by Half
J.B. Hunt Transport Services’ second-quarter net income fell 52.5% to $24.1 million, or 19 cents per share, from $50.6 million, or 39 cents, a year earlier.
July 15, 2009