Norfolk Southern’s 1Q Profit Drops 39%
Norfolk Southern Corp. said its first-quarter profit fell 39% from a year ago on lower shipping demand.
April 22, 2009Volvo Cutting 1,500 Jobs in Sweden
Volvo AB said it will cut more than 1,500 jobs in Sweden, including 655 in its truck division, citing a “sharp decline” in global demand for trucks.
April 22, 2009Court Backs FedEx on Drivers’ Status
FedEx Corp.’s small-package delivery drivers may be classified as independent contractors and not company employees, a federal appeals court ruled Tuesday, Bloomberg reported.
April 21, 2009Marten’s First-Quarter Income Improves
Refrigerated truckload carrier Marten Transport’s first-quarter net income rose 52.8% to $4.1 million, or 18 cents a share, from $2.7 million, or 12 cents a year ago.
April 21, 2009C.H. Robinson Reports Flat 1Q Income
Transportation and third-party logistics firm C.H. Robinson Worldwide’s first-quarter profit dipped slightly to $85.4 million, or 50 cents a share, from $86.3 million, or 50 cents, a year ago.
April 21, 2009Caterpillar Reports First Loss in 16 Years
Heavy equipment and diesel engine maker Caterpillar Inc. said Tuesday it took its first quarterly loss in 16 years.
April 21, 2009Diesel Dips 0.8¢ to $2.221; Oil Hits Seven-Week Low
The national average price of diesel fuel fell by less than a penny, dipping 0.8 cent to $2.221 a gallon, the Department of Energy reported.
April 21, 2009Forward Air Reports 1Q Loss
Forward Air Corp. said it lost $3.1 million, or 11 cents per share, compared with a profit of $10 million, or 35 cents, a year ago.
April 21, 2009Hino Posts $628 Million Loss on Pension Charges
Hino Motors Ltd., Japan’s largest heavy-duty truck maker, had a wider-than-expected annual loss because of falling sales and one-time costs from a change in its pension system, Bloomberg reported Tuesday.
April 21, 2009Load Volumes Decline for Logistics Firms but Gross Margins Rise, Voltmann Says
Freight brokers and logistics providers, who met earlier this month in San Antonio, provided more evidence of the bleak condition of the freight transportation business and also moved to gather data on the size of their segment of the industry.
April 21, 2009