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.
Volvo Plans 650 Layoffs at Va. Truck Plant
Volvo Trucks North America plans to lay off 650 workers from its manufacturing plant in Dublin, Va., the Roanoke (Va.) Times reported.
January 30, 2009Paccar’s Fourth-Quarter Income Declines
Heavy-duty truck maker Paccar Inc.’s fourth-quarter profit fell to $113.1 million, or 31 cents per share, from $261.1 million, or 71 cents per share, a year ago.
January 30, 2009Exxon Mobil Sets New Earnings Record for a U.S. Company
Oil giant Exxon Mobil Corp. Friday reported a 2008 profit of $45.2 billion, breaking its own record for a U.S. company, although its fourth-quarter earnings fell 33% from a year ago, the Associated Press reported.
January 30, 2009YRC Reports Loss for 4Q, Year
YRC Worldwide said late Thursday it lost $244 million in the fourth quarter and close to $1 billion last year.
January 30, 2009Saia’s 4Q Income Declines
Saia Inc. said Friday its fourth-quarter earnings fell to $1.4 million, or 10 cents a share, from $2 million, or 15 cents, a year ago.
January 30, 2009Fourth-Quarter GDP Declines 3.8%
The U.S. economy contracted 3.8% in the fourth quarter, the biggest drop since 1982, though it grew for the year, the Commerce Department said Friday.
January 30, 2009J.B. Hunt’s Fourth-Quarter Income Declines
Truckload carrier J.B. Hunt Transport Services said Thursday its fourth-quarter net income fell to $53.3 million, or 41 cents a share, from $54.3 million, or 42 cents, a year ago.
January 30, 2009Consumer Confidence Improves in January
U.S. consumer confidence improved this month, according to the Reuters/University of Michigan’s final monthly consumer sentiment index released Friday.
January 30, 2009Chicago Manufacturing Index Declines
Manufacturing activity in the Chicago region contracted in January for a fourth straight month, the National Association of Purchasing Management said Wednesday.
January 30, 2009Rail, Intermodal Traffic Fall for Week
Rail and intermodal traffic fell for the week ended Jan. 24 from a year ago, the Association of American Railroads said.
January 29, 2009