FedEx 2Q Profit Improves; Will Cut Salaries, Costs
FedEx Corp. said Thursday its fiscal second-quarter profit rose 3%, but it cited difficult economic conditions and said it would trim senior executives’ salaries and set a hiring freeze.
December 18, 2008Hub Group Downgrades 4Q Outlook
Third-party logistics company and freight broker Hub Group said its full-year 2008 earnings will be lower than previously estimated, due to sluggish intermodal and brokerage volumes and pricing.
December 18, 2008Leading Indicators Drop 0.4% in November
An index of leading economic indicators fell 0.4% in November, marking the fifth downturn in seven months, the New York-based Conference Board said Thursday.
December 18, 2008Philadelphia Fed Factory Index Remains in Contraction
Manufacturing levels in the Philadelphia region improved from a month ago but remained in contraction, the Federal Reserve Bank of Philadelphia said Thursday.
December 18, 2008Unemployment Claims Decrease Slightly
First-time unemployment claims dropped last week but stayed near a 26-year high, the Labor Department said Thursday.
December 18, 2008OPEC Sets Record Production Cut
OPEC agreed Wednesday to cut oil production quotas by 2.2 million barrels a day, or about 7%, a record production cut, the Wall Street Journal reported Thursday.
December 18, 2008FMCSA Sets Intermodal Chassis ‘Roadability’ Rule
The Federal Motor Carrier Safety Administration Wednesday issued a new rule that it said will “significantly strengthen safety requirements” for intermodal container chassis.
December 17, 2008OPEC To Cut Production 9%
OPEC agreed Wednesday to cut oil production quotas by 9% starting Jan. 1, Bloomberg reported.
December 17, 2008Opinion: Trucking and the New Administration
Election day has come and gone, and regardless of political persuasion, the optimist in each of us hopes President-elect Barack Obama’s administration heralds an uplifting and more positive era of government.
December 17, 2008AAA Forecasts a Decrease in Christmas Holiday Travel
There will be a slight decline in the number of Americans traveling during the Christmas holiday period compared with last year, first such decline in six years, according to the motorists’ group AAA.
December 17, 2008