LTLs Ward, Saia Reduce Pay as Freight Volumes Decline
Two regional less-than-truckload carriers announced across-the-board pay cuts because of deteriorating freight volumes and prices, Saia Inc. by 5% for salaried employees and drivers, and Ward Trucking Corp. by 8.9%. Both companies said executives’ pay was cut even more.
April 6, 2009Jury Finds Freight Broker Liable for $23.8 Million Fatality Award
An Illinois jury has awarded $23.8 million in damages against leading freight broker C.H. Robinson Worldwide in a dual-fatality 2004 truck accident case involving a motor carrier hired to haul a load of potatoes.
April 6, 2009So Far, So Good
It’s wise not to get too giddy, but it definitely appears things are improving for the economy — and for trucking.
April 5, 2009FedEx Cuts 1,000 Jobs in $1 Billion Savings Plan
FedEx Corp. will cut 1,000 jobs under a plan to save $1 billion in costs, Bloomberg reported.
April 3, 2009Obama Names Nominees for Two DOT Agencies
President Obama named two nominees to lead agencies within the Department of Transportation, the White House said.
April 3, 2009Unemployment Rate Jumps to 8.5%
The U.S. unemployment rate jumped to 8.5% in March from 8.1% in February, making it the highest level in 25 years, the Labor Department said Friday.
April 3, 2009ISM Services Index Shows Continued Contraction
The U.S. economy’s service sector continued to contract in March, the Institute for Supply Management said Friday.
April 3, 2009Intermodal Falls 15.4% for Week
Rail and intermodal traffic both fell last week compared with a year ago, the Association of American Railroads said.
April 3, 2009Navistar Protests Military Truck-Ordering Plan
Navistar International Corp. has protested to U.S. government officials about the method the Pentagon is using to select providers of mine-resistant all-terrain vehicles to be used by U.S. troops in Afghanistan.
April 2, 2009Saia Sets New Pay Cuts
Saia Inc. said Thursday it will take new cost-cutting measures to cope with the slow economy and reduced tonnage, including trimming its executives’ pay by 10% and its hourly, linehaul and salaried employees’ pay by 5%.
April 2, 2009