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.
Cummins Plans to Invest $100 Million in Brazil
Cummins Inc., the maker of more than one third of North America’s heavy-duty truck engines, plans to invest another $100 million in Brazil during the next four years to meet higher demand in that country, Bloomberg reported.
September 15, 2008New York Manufacturing Index Shows Contraction
Manufacturing growth in New York state declined this month, showing contraction, the Federal Reserve Bank of New York said Monday.
September 15, 2008Highway Coalition Applauds Rejection of Pa. I-80 Tolls
A coalition of highway users including American Trucking Associations applauded the U.S. Department of Transportation’s decision last week to reject tolls on Interstate 80 in Pennsylvania, though a truckers group in that state warned that officials may seek to privatize the Pennsylvania Turnpike.
September 15, 2008Oil Falls Below $95 as Refineries Escape Major Damage from Hurricane Ike
Crude oil fell $7 to below $95 a barrel in early trading Monday, a seven-month low, as Gulf of Mexico refineries escaped major damage from Hurricane Ike over the weekend, Bloomberg reported Monday.
September 15, 2008Court Denies Calif. Port Stay; ATA Files Expedited Appeal
A federal judge last week denied American Trucking Associations’ request for a preliminary injunction against controversial portions of emission-reduction programs at the California ports of Los Angeles and Long Beach.
September 15, 2008Congress Refills Highway Fund
Congress, after an abrupt about-face by the Bush administration, moved quickly last week to transfer more than $8 billion into the Highway Trust Fund to keep the road-building finance program solvent.
September 15, 2008Trucking Companies Face Growing Cash Crunch as Shippers Struggle to Survive Downturn
Astronomic fuel prices are only part of the economic drag on trucking these days. Add the growing length of time on accounts receivables, more customer bankruptcies and the tightening of credit by suppliers and lenders, and it’s easy to see how carriers’ cash flow has ebbed.
September 15, 2008House Follows Senate in Approving $8 Billion for Highway Fund
A day after the Senate passed a bill to fund an $8 billion shortfall in the federal Highway Trust Fund, the House followed suit, voting 376-29 to approve a similar measure.
September 12, 2008Retail Sales Fall 0.5% in August
Retail sales fell 0.5% in August, the Commerce Department said Friday.
September 12, 2008FHWA Denies Pennsylvania’s Plan to Toll I-80
The Federal Highway Administration said Thursday it has denied an application by the Pennsylvania Turnpike Commission to toll Interstate 80.