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’s Earnings Improve; Truck Orders Drop
Volvo AB said Wednesday its second-quarter earnings jumped 28%, as rising sales in Europe overcame a downturn in North America, Bloomberg reported.
July 23, 2008Hurricane Dolly Bypasses Gulf Oil Rigs
Hurricane Dolly made landfall on the South Texas coast Wednesday as a Category 2 hurricane, but the storm bypassed most major oil installations in the Gulf of Mexico, news services reported.
July 23, 2008House OKs Additional Highway Funding
The House approved a bill by a lopsided margin Wednesday that would restore $8 billion to the federal Highway Trust Fund to avert an expected revenue shortfall in the coming fiscal year.
July 23, 2008Paccar Sets Executive Promotions
Truck maker Paccar Inc. said that the company’s president, Tom Plimpton, will become vice chairman, and that Jim Cardillo will become its president, effective Sept. 1.
July 23, 2008Fed ‘Beige Book’ Cites Difficult Economy
U.S. economic activity remained generally weak in June and early July, and several regions reported trucking companies were having a hard time recouping higher costs, the Federal Reserve said Wednesday.
July 23, 2008Marten’s Second-Quarter Income Dips
Refrigerated truckload carrier Marten Transport’s second-quarter net income fell to $3.5 million, or 16 cents a share, from $4.3 million, or 20 cents, a year ago.
July 23, 2008Senate Committee Approves Amendment Aimed at Halting Mexico Trucking Program
The Senate Appropriations Committee approved an amendment to the Department of Transportation’s fiscal 2009 budget aimed at halting the U.S.-Mexico trucking pilot program.
July 23, 2008Arkansas Best’s 2Q Income Declines
Arkansas Best Corp. said Wednesday its second-quarter profit fell 17% to $16.2 million, or 64 cents a share, from $19.6 million, or 78 cents, a year ago.
July 23, 2008Ryder Reports Mixed 2Q Earnings
Ryder System Wednesday reported a second-quarter profit of $62.9 million, or $1.10 per share, compared with $65.1 million, or $1.07 per share, a year ago.
July 23, 2008Letters to the Editor: Adding Truck Weight, Carrier Failures, Peters on Gas Tax
The EPA has mandated equipment on our trucks, which adds weight. Why not allow the carriers the chance to recoup the payload?
July 23, 2008