Union Offers YRC Savings
The Teamsters tentatively agreed to a 10% wage cut to help YRC Worldwide Inc. cope with the recession as part of a package that, among other things, requires YRC to give the union a 15% stake in the less-than-truckload carrier.
December 8, 2008FMCSA Issues Medical Rule Requiring Proof of Certification
The Federal Motor Carrier Safety Administration last week issued a final rule requiring all interstate truck drivers to prove they have passed medical examinations and proposed a separate rule setting up a national registry of qualified examiners.
December 8, 2008Diesel Prices Continue to Fall
Diesel fuel prices continued to slide last week, with the U.S. average falling 4.9 cents to $2.615 a gallon, according to the Department of Energy.
December 8, 2008Oil Closes Week Near $40
Oil fell almost $3 Friday to close the week near $40 a barrel, the lowest closing price in four years, Bloomberg reported.
December 5, 2008N.Y. Enhanced Licenses Approved for U.S.-Canada Border Crossing
The U.S. Customs and Border Protection said it will accept Enhanced Drivers Licenses issued by the state of New York as an acceptable document to cross into the United States from Canada without showing a passport.
December 5, 2008Unemployment Rate Rises to 6.7%; Payrolls Drop Sharply
The U.S. unemployment rate rose to 6.7% in November from 6.5% in October, while payrolls fell by more than a half-million jobs, the biggest plunge since 1974, the Labor Department said Friday.
December 5, 2008Cummins to Cut at Least 500 Jobs
Diesel engine maker Cummins Inc. said Friday it would cut “at least 500 jobs,” or 3.5% of its workforce, by the end of the year, due to “the continued deterioration in the U.S. economy and many other key markets around the world.”
December 5, 2008Rail, Intermodal Traffic Fall in November
Rail and intermodal traffic fell sharply in November from a year ago, the Association of American Railroads said.
December 5, 2008YRC, Teamsters Reach Tentative Pact on 10% Pay Cut
YRC Worldwide and Teamsters union leaders reached a tentative agreement on a 10% pay cut for union employees to help reduce costs, Bloomberg reported late Wednesday.
December 4, 2008Dynamex’s Fiscal 1Q Earnings Decline
Logistics and delivery firm Dynamex Inc. said Thursday its fiscal first-quarter profit fell to $3 million, or 30 cents a share, from $4 million, or 39 cents, a year ago.
December 4, 2008