Financial Market Turmoil Stymies Carriers Seeking to Acquire Equipment, Businesses
Despite passage of a $700 billion aid package intended to shore up depleted capital of large and small institutions, the near-collapse of U.S. financial markets is making it tougher for carriers to buy or lease equipment, and will force a reduction in the use of debt to pay for mergers and acquisitions.
November 3, 2008Diesel Declines Another 19.4¢ to $3.288
The average price of U.S. retail diesel shed another 19.4 cents last week, dropping to $3.288 a gallon, while the gasoline average fell below year-ago levels for the first time in 2008, according to the Department of Energy.
November 3, 2008Intermec Reports Higher 3Q Profit
Technology firm Intermec Inc. said its third-quarter net income rose to $11 million, or 18 cents per share, from $4.4 million, or 7 cents per share, a year ago.
October 31, 2008ArvinMeritor Cutting 1,250 Jobs, May Sell Auto-Components Unit
Heavy-duty truck parts maker ArvinMeritor Inc. said Friday it will cut 1,250 jobs and may sell the auto-components unit it had planned to spin off to shareholders.
October 31, 2008Cummins’ Third-Quarter Profit Rises 24%
Diesel engine maker Cummins Inc. said Friday its third-quarter profit jumped 24% on stronger international sales, but the company lowered its full-year sales outlook.
October 31, 2008Consumer Sentiment Index Shows Record Decline
U.S. consumer confidence fell this month in the largest decline since data began in 1978, according to the Reuters/University of Michigan’s final monthly consumer sentiment index, released Friday.
October 31, 2008Personal Spending Falls in September
Consumer personal spending dropped 0.3% in September, the biggest drop in four years, the Commerce Department said Friday.
October 31, 2008Intermodal Traffic Declines for Week
Rail and intermodal traffic declined last week compared with the same week a year ago, the Association of American Railroads said.
October 31, 2008NTSB Adds EOBRs to ‘Most Wanted’ List
The National Transportation Safety Board has added mandatory use of electronic onboard recorders to its annual list of “most wanted” safety reforms.
October 31, 2008NAFTA Surface Trade Rises 4.5%
Surface trade among the United States, Canada and Mexico rose 4.5% in August from the same month last year, though both truck and rail imports declined, the Department of Transportation said Thursday.
October 30, 2008